Deals

SoftBank-Backed Guardant Soars in Trading Debut After U.S. IPO

Helmy Eltoukhy, chief executive officer and co-founder of Guardant, talks with Bloomberg’s Alex Barinka.Source: Bloomberg)

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By Alex Barinka

October 3, 2018 at 10:55 PM UTC

Updated on

October 4, 2018 at 3:14 PM UTC

This article is for subscribers only.

Guardant Health Inc., a cancer-detection firm backed by SoftBank Group Corp., climbed in its trading debut after raising $237.5 million in its U.S. initial public offering.

The Redwood City, California-based company sold 12.5 million shares on Wednesday for $19 each, after marketing them at a range of $15 to $17, according to data compiled by Bloomberg.