The funding supported the recently-announced acquisition of ClinEdge , another provider of clinical and research services. Elligo also plans to invest the capital into its technology and data platform. The company said it will also add three new board members: Dr.
With new funding and an amazing partner in Spectrum Equity, we're positioned to see that impact grow exponentially. The funding will go towards growth, investment in its team, product development and expansion into new markets. It will also support our efforts to activate practice staff by solving economic barriers that exist in the shift to value-based care. We will continue to evolve our product in ways that will improve the healthcare experience for providers and patients alike.
Skip to main content. Global Edition. By Emily Olsen September 28, More regional news. May 27, Study: VR therapeutic reduces pain intensity long term, compared with sham app. Roundup: Telehealth platform for endometriosis launched in Malaysia, India upgrades health ID app, and more briefs.
May 26, The latest boon to the business came from Google, a deal that wasn't announced publicly and was first disclosed in one sentence in Cue Health's IPO prospectus earlier this month. Khattak declined to name that customer, but people familiar with the matter confirmed to CNBC that it's Google. The people asked not to be identified because the information is confidential.
Cue Health could still be a particularly risky bet for investors because the company hasn't proven it has a market outside of Covid tests. The company acknowledges that issue at the beginning of the risk factors section in its prospectus. As of August, Cue had sold 5 million testing kits and said that it's manufacturing cartridges at a rate that exceeds 15 million a year. Cue Health has had to hire to meet scaling demands. The company had fewer than employees in and now has more than 1, In April, Glenn Wada, a senior vice president at Salesforce , was named chief commercial officer.
Khattak said that despite the competitiveness for tech talent, Cue Health has been able to recruit because it's addressing such a tangible global problem. Beyond Covid, Cue Health says it's working on a number of tests that can be completed using saliva, urine and blood samples and nasal swabs. Those diagnostic tests will cover things like respiratory health, sexual health and determining risk of chronic illnesses such as heart disease. Khattak said the company hopes to provide direct-to-consumer virtual care and testing for common illnesses like strep throat.
For Google, the agreement with Cue Health has allowed employees to order additional test strips through the company's internal resources portal. Without the availability of in-office perks like free food or other amenities, the company has tried other ways to appeal to employees, offering resources for mental and physical health.
Google had planned for employees to return to the office in September, but that date got pushed to Jan. Google approached Cue Health when it realized that its workforce needed the kind of testing product Khattak's team was developing. But given the connection we had, we chose them and they chose us. In August of this year, Cue and Google Cloud entered into a partnership to develop real-time variant tracking and sequencing of Covid, the prospectus says. They aim to create an "advanced respiratory biothreat detection system spanning from the Company's at-home diagnostic testing to full real-time viral sequencing as well as analytical and predictive capability using Google Cloud powered solutions," according to the filing.
Cue's public debut comes as Elizabeth Holmes, founder of defunct blood-testing company Theranos, is on criminal trial for wire fraud and conspiracy to commit wire fraud. She has pleaded not guilty. Cue Health also has independent clinical studies from the Mayo Clinic and has been thoroughly vetted through health validations.
|What is stub interest||As noted therein, until you have received from us a written statement that we represent you in a particular manner an "engagement letter" you should not send to us any confidential information about any such matter. As of August, Cue had sold 5 million testing kits and said that it's manufacturing cartridges at a rate that exceeds 15 million a year. The securities referred to in this release are to be offered only by means of a prospectus. In addition, Cue Health has granted the underwriters a day option to purchase up examples of forex earnings 1, additional shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Most of Cue Health's business up to that point had come from a deal with the U. VR therapeutic eases pain intensity long term. She has pleaded not guilty.|
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|Cue ipo||In Julya month after the emergency authorization, the National Basketball Association began using Cue Health tests for its "NBA bubble" in Orlando, Floridawhere games were restarting without fans. Roundup: Telehealth platform for endometriosis launched in Malaysia, India upgrades health ID app, and more briefs. A preliminary prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. The funding will go towards growth, investment in its team, product development and expansion into new markets. Chulalongkorn University develops AI tool for colorectal polyp detection. She has pleaded not guilty.|
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|Cue ipo||MobiHealthNews: The latest news in digital health delivered daily to your inbox. The company is still operating under emergency use authorization as the products have not been fully FDA cleared or approved. Search form. Elligo also plans to invest the capital into its technology and data platform. The two companies plan to expand their partnership to create an "advanced respiratory biothreat detection system," according to Cue Health's prospectus. Cue Health offers individuals, enterprises, government agencies and healthcare providers access to lab-quality diagnostic testing at home, at here, cue ipo at the point-of-care, all in a device that fits in the palm of your hand. Critical industry insight and formidable strength across key practices.|
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|Cryptocurrency stocks live||Cue Health's test kit includes a wand, cartridge and reader. Critical industry insight and formidable strength across key practices. The two companies plan to expand their partnership to here an "advanced respiratory biothreat detection system," according to Cue Health's prospectus. May 27, In April, Glenn Wada, a senior vice president at Salesforcewas named chief commercial officer. Most of Cue Health's business up to that point had come from a deal with the U.|
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Based on our current plans, we believe that the anticipated net proceeds from this offering, together with our existing cash and cash equivalents, will be sufficient to meet our working capital and capital expenditure needs and debt service obligations for at least the next 12 months.
Regarding outstanding legal proceedings, the firm has been subject to an SEC subpoena for certain documents, which it has complied with. Management says it "we cannot predict the outcome of this investigation as to us or our officers, nor can we predict the timing associated with any such conclusion or resolution. However, we cannot assure you that we will not be required to devote significant time or resources to resolving the SEC investigation, or that the ultimate resolution of the investigation will not have a material adverse effect on our business, financial condition or results of operations.
Below is a table of relevant capitalization and valuation figures for the company:. As a reference, a potential partial and imperfect public comparable to Cue would be Bio-Rad BIO ; below is a comparison of their primary valuation metrics:. Bio-Rad BIO. Sales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have increased dramatically; its Sales and Marketing efficiency rate was an extremely high The market opportunity for COVID and related test kit platforms is large and will likely grow at a high rate of growth over the coming years as countries around the world seek to bolster their testing capabilities in the wake of the recent global pandemic.
Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last month period have generated an average return of This is a mid-tier performance for all major underwriters during the period. The primary risk to the firm now is that it is essentially a one-product company, so its revenue base is heavily concentrated. As for valuation, compared to partial competitor Bio-Rad Laboratories, the IPO is reasonably valued on a revenue multiple, although Cue is growing at a much higher rate of growth from a much lower revenue base, so the comparison is strained at best.
Gain Insight and actionable information on U. Get started with a free trial! Subscribers receive access to my proprietary research, valuation, data, commentary, opinions, and chat on U. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. Start with a day Free Trial. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it other than from Seeking Alpha.
I have no business relationship with any company whose stock is mentioned in this article. Additional disclosure: Investing in IPOs is an inherently volatile and opaque endeavor. I analyze fundamental company performance and my conclusions may not be relevant for first-day or early IPO trading activity, which can be highly volatile and unrelated to company fundamentals. This report is intended for educational purposes only and is not financial, legal or investment advice.
Donovan Jones Marketplace. Sales and Marketing expenses as a percentage of total revenue have varied as revenues have increased sharply, as the figures below indicate: Sales and Marketing Expenses vs.
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Cue's public debut arrived on Friday, when it hit Nasdaq under the ticker symbol “HLTH.” It offered up million shares of common stock at an opening price. Rapid diagnostics startup Cue Health raised $ million in its initial public offering Friday. As of market close on Monday, Cue was. Cue Health's common stock is expected to begin trading on the Nasdaq Global Select Market on September 24, under the ticker symbol “HLTH.”.