Introduction
MDNA Life Sciences (MDLS), a molecular diagnostic company, has filed for an IPO of 2.1 million units at a price range of $4-$6 per unit. The IPO will consist of one share of common stock and one warrant to purchase one share of common stock.
MDLS’s focus on early detection of cancer
MDLS is a molecular diagnostic company that is focused on the early detection of cancer through its proprietary Mitomic technology. The technology is designed to identify mutations in mitochondrial DNA that are associated with cancer. The company’s goal is to make cancer screening more accessible, affordable, and accurate.
The company’s Mitomic technology has been validated in clinical studies and has shown high sensitivity and specificity for the detection of cancer. MDLS’s diagnostic tests are non-invasive and require only a simple blood sample. The company believes that its technology has the potential to revolutionize cancer screening and improve patient outcomes.
MDLS’s financials
MDLS reported $1.4 million in revenue for the fiscal year ended December 31, 2021. The company had a net loss of $7.3 million for the same period. As of December 31, 2021, the company had cash and cash equivalents of $7.2 million.
MDLS’s plans for the IPO proceeds
MDLS plans to use the proceeds from the IPO for working capital, capital expenditures, and general corporate purposes. The company may also use a portion of the proceeds to acquire or invest in complementary businesses, products, services, or technologies.
Conclusion
MDNA Life Sciences (MDLS) is a molecular diagnostic company focused on the early detection of cancer through its proprietary Mitomic technology. The company has filed for an IPO of 2.1 million units at a price range of $4-$6 per unit. MDLS’s technology has the potential to revolutionize cancer screening and improve patient outcomes. The company plans to use the proceeds from the IPO for working capital, capital expenditures, and general corporate purposes, as well as potentially acquiring or investing in complementary businesses, products, services, or technologies.
