Health Cue, a Covid-19 test manufacturer backed by
Johnson & Johnson,
The San Diego healthcare industry has been accused of raising $ 100 million, according to a Sept. 1. Cue Health deal. That will be in the registers in the future. Will trade under Nasdaq ticker HLTH.
The $ 100 million is also believed to be a turning point as Cue provides more information.
JP Morgan, and Cowen are the lead authors on the deal.
Cue Health is known for its Covid-19 Test Application that delivers results to a user’s mobile phone within 20 minutes. -in-counter and use at home without a prescription. Cue is also developing test kits for disease, respiratory syncytial scan, fertility, and pregnancy and inflammation, the forecast said. Cue’s Covid-19 test kit was used by the National Basketball Association and Mayo Clinic, the hope said.
Cue swung to profit this year, reporting $ 32.8 million in gross domestic product for the six months ending June 30. This compares to $ 19.3 million in losses for the same period in 2020. Cue began generating revenue in August. 2020 follows the FDA’s first emergency approval for its Covid-19 test in May. Revenues rose nearly 4,000% to $ 201.9 million for the six months ending June 30.
The company raised $ 235 million in private cash flow in May from investors such as Consulting Consultants, MSD Capital (an investment firm linked to the office of billionaire Michael Dell), and Platforms Koch Strategic, a subsidiary of Koch Companies, as an investor in Johnson & Johnson Innovation – JJDC, Inc. (J & J’s venture arm), a statement said.
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