Initial Public Offering

Healthcare
Initial Public Offering

Summary

Baird served as a joint bookrunning manager on this offering

About

Castle Biosciences, Inc. (“Castle” or the “Company”) (NASDAQ: CSTL) recently completed an initial public offering of 4,600,000 shares of common stock, including the exercise in full of the underwriters' option to purchase 600,000 additional shares of common stock, at a public offering price of $16.00 per share. The gross proceeds to Castle, before deducting underwriting discounts, commissions and offering expenses, were approximately $73.6 million. The Company intends to use the net proceeds from the offering for selling and marketing, research and development, working capital and other general corporate purposes.

Castle is a commercial stage dermatological cancer company that believes the traditional approach to treating certain cancers using clinical and pathology factors alone is inadequate and can be improved by incorporating personalized, clinically actionable genomic information. Castle’s non-invasive products utilize proprietary algorithms to provide an assessment of a patient’s specific risk of metastasis or recurrence of their cancer, allowing physicians to identify patients who are likely to benefit from an escalation of care as well as those who may avoid unnecessary medical and surgical interventions. The Company is headquartered in Friendswood, Texas.
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Healthcare
Initial Public Offering
Date
July 2019
Company
Castle Biosciences, Inc.
Transaction
M&A
Sectors
Healthcare
Target Location
North America

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