BillionToOne, Inc. (BLLN.US), a molecular diagnostics company, made a stellar debut on Nasdaq on Thursday, with its stock price skyrocketing 81.57% by market close, propelling its market capitalization to nearly $4.8 billion. The strong performance came despite the U.S. government shutdown, which has constrained the SEC's review capacity, highlighting the resilience of IPO activity amid surging market enthusiasm driven by AI optimism, rate-cut expectations, and record-high U.S. equities.

Priced at $60 per share, BillionToOne's stock opened at $100 and climbed as high as $123.45 intraday. The company upsized its offering by 20% within regulatory limits, selling 4.55 million shares to raise $273 million—well above its initial $49–$55 price range. Co-founder and CEO Oguzhan Atay noted the expanded offering was intended to accommodate greater participation from long-term investors.

Headquartered in Menlo Park, California, BillionToOne specializes in non-invasive prenatal testing (NIPT) and oncology blood tests using single-molecule sequencing technology. Financial reports show robust growth, with revenue up 82% year-over-year and gross profit doubling in the first half ending June 30, underscoring its commercialization momentum.

The IPO's success reflects sustained investor appetite for high-growth medtech firms. Earlier this year, Caris Life Sciences (CAI.US) went public in June and remains nearly 40% above its IPO price, signaling strong institutional interest in diagnostic sectors. BillionToOne's listing is seen as a key indicator of IPO market recovery despite ongoing regulatory hurdles.