Fluidigm Plans Initial Public Offering

Fluidigm did not disclose the expected size or price range of the IPO, but indicated the offering price may total up to $86.3 million. The company noted that the total offering price was estimated solely to calculate its registration fee and may change.

Fluidigm said its technology enables its customers to perform thousands of complex biochemical measurements on samples smaller than the content of a single cell.

In 2007, South San Francisco, Calif.-based Fluidigm's loss widened to $25.5 million, from $23.6 million in the prior year. The company's revenue increased to $7.3 million, from $6.4 million in 2006.

Fluidigm noted that it expects to incur losses for the foreseeable future. Fluidigm also noted it has identified material weaknesses in its internal control over financial reporting.

The company plans to use the net proceeds from the offering to grow its sales force, commercialize its products, continue research and development, expand its facilities and manufacturing operations and for working capital and other general corporate purposes. Fluidigm said it may also use some proceeds for future acquisitions.

President and Chief Executive Gajus V. Worthington, who co-founded the company, previously held various management positions at chip maker Actel Corp.

Morgan Stanley is serving as the IPO's lead underwriter. UBS Securities and Leerink Swann are also underwriting the offering.

Fluidigm expects to list its shares on the Nasdaq Global Market under the symbol "FLDM."