SOPHiA Genetics SA
SOP.H,
+20.00%
is set up for a public debut Friday, as the Switzerland-based data-driven medicine company's initial public offering price overnight at $18 a share, which was in the middle of the expected range of between $17 and $19 a share. The company sold 13.0 million shares in the IPO to raise $234 million, with the IPO pricing valuing the company at about $1.14 billion. The stock is expected to begin trading some time after the open on the Nasdaq under the ticker symbol "SOPH." J.P. Morgan, Morgan Stanley, Cowen and Credit Suisse are the joint book-running managers. The company recorded a net loss of $39.3 million on revenue of $28.4 million in 2020, after a loss of $33.8 million on revenue of $25.4 million in 2019. The company is going public at a time that the Renaissance IPO ETF
IPO,
+0.06%
has lost 1.0% over the past three months while the S&P 500
SPX,
+0.20%
has gained 4.5%.