Guardant Health’s IPO Tops Range, Raising $238M for Cancer Tests

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Shares of the Redwood City, CA, company are expected to begin trading on the Nasdaq later today under the stock symbol “GH.”Longer term, Guardant wants to develop tests that can find even earlier signs of cancer by detecting the disease in people who have yet to show symptoms.Guardant’s liquid biopsy competitors include Roche’s subsidiary Foundation Medicine, Roche Molecular Systems, Thermo Fisher Scientific (NYSE: TMO ), Illumina (NASDAQ: ILMN ), and startup Grail.Guardant plans to apply the IPO cash toward corporate purposes, including sales and marketing of its commercialized products.The San Francisco company has developed a proprietary method of manufacturing DNA by “writing” it on a silicon chip, which can be used in drug research.

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