Talis Biomedical Corporation (Nasdaq: TLIS) has withdrawn its FDA Emergency Use Authorization application for the Talis One COVID-19 test in CLIA moderate settings. The decision comes after the FDA raised concerns about the sensitivity of the comparator assay used in the primary study. Talis will now focus on a new EUA application for CLIA waived settings, planning to initiate a clinical validation study using a different comparator assay. The company aims to submit the new EUA early in Q2 2021, prioritizing high-quality testing solutions for healthcare providers.
Talis Biomedical Corporation (Nasdaq: TLIS) announced the completion of its initial public offering (IPO) of 15,870,000 shares at $16.00 per share, raising approximately $253.9 million in gross proceeds. The offering included 2,070,000 shares sold due to underwriters' full exercise of their option. The IPO shares commenced trading on February 12, 2021. J.P. Morgan, BofA Securities, and Piper Sandler served as book-running managers. Talis is focused on developing innovative molecular diagnostic tests for infectious diseases, beginning with COVID-19.
Talis Biomedical Corporation (Nasdaq: TLIS) has priced its initial public offering (IPO) at $16.00 per share, aiming to raise approximately $220.8 million before expenses. The offering consists of 13,800,000 shares, with an option for underwriters to purchase an additional 2,070,000 shares. Talis is set to begin trading on the Nasdaq Global Market on February 12, 2021, with the IPO closing on February 17, 2021. J.P. Morgan, BofA Securities, and Piper Sandler & Co. are leading this offering.