Biotechnology company Ignyta has filed to go public on the NASDAQ under the symbol RXDX, proposing an offering of up to $46 million. The company currently trades on the OTCQB and OTC Bulletin Board under the same symbol. Utilizing proprietary cancer and immunology genomic and epigenomic knowledge bases, Ignyta hopes to provide targeted therapeutics accompanied by biomarkers for patient selection, treatment and monitoring.
In late 2013, Ignyta completed a reverse merger with Infinity Oil & Gas Company, with the combined company focusing solely on Ignyta's business. Prior to that Ignya garnered a few rounds of venture funding, the largest of which was a $5.5 million Series B financing, which, coupled with a $500,000 capital term loan from Silicon Valley Bank, gave the company a $13 million valuation in February 2013.