SOPHiA GENETICS raises USD 57.5 million through a public offering

SOPHiA GENETICS, based in Canton of Vaud, announced the completion of its underwritten public offering, with total gross proceeds of $57.5 million, before deducting underwriting discounts, commissions and estimated offering expenses.

The company sold 12,104,900 ordinary shares at $4.75 per share, according to a press release. The share is currently trading at $5.46, close to its 52-week high of $5.70, reflecting strong investor sentiment following an impressive 79.6 per cent rise over the past year, according to data from InvestingPro. Subscribers fully exercised their option to purchase a further 1,578,900 ordinary shares at the public offering price, net of underwriting discounts and commissions.

The offering was oversubscribed due to investor demand. All ordinary shares were sold by the company.

SOPHiA GENETICS is an Ai-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of SOPHiA DDM™, an Ai platform that analyzes complex genomic and multimodal data to generate real-time, real-world insights for a broad global network of hospital, laboratory, and biopharma institutions. The company generated $81.18 million in revenue over the last twelve months, representing growth of 20.85 per cent, although it remains loss-making as it continues to develop. Around 1,000 healthcare facilities use its services worldwide.

➡️ Source: Press Release | 📸 ©SOPHiA GENETICS