Diagnostic test maker AutoGenomics plans IPO

The Carlsbad, Calif., company did not disclose the number of shares it plans to offer or a price range for the offering,but said the price could be as much as $86.3 million. That estimate may change, as it is used solely to calculate the company's registration fee.

The company did not give a proposed date of the IPO.

AutoGenomics designed and sells a molecular diagnostic system called the Infiniti Analyzer. It can be used to find genetic markers that show increased risk for diseases including breast and cervical cancer and cystic fibrosis, infectious diseases such as respiratory ailments and some sexually transmitted diseases, as well as resistance to popular drugs.

Other tests can be used in pharmaceutical testing to determine how drugs will be metabolized. A total of 58 Infiniti systems have been installed in hospitals including Johns Hopkins, New York Presbyterian and San Francisco General.

In 2007, AutoGenomics' product sales grew to $1.6 million from $500,000, and its net loss increased to $9.4 million from $7.2 million.

Major competitors in AutoGenomics' line of business include Roche Holding AG, Becton Dickinson and Co., Abbott Laboratories Inc., Hologic Inc. and Cepheid.

The lead underwriters for the planned IPO are JPMorgan Securities and Deutsche Bank Securities. Pacific Growth Equities and Robert W. Baird are also underwriting the offering.

The company plans to list its shares on the Nasdaq Global Market under the symbol "AGMX."