Chromavision Investment Data: 1997-2005
Chromavision Medical Systems Inc. was listed on the NASDAQ exchange as CVSN in 1997. In February 2005 the company announced that it was changing the name of the corporation to Clarient to better reflect a new business strategy. The corporation's first day of trading as Clarient with the ticker symbol 'CLRT' was on March 17, 1997.
Subsequently, the CVSN tracker was delisted from the exchange. Consequently, there is no publicly available trading history and data available for the company between 1997-2004. Where possible, the required data for each available year has been provided in the attached spreadsheet.
SUMMARY OF FINDINGS
- On December 30, 2005, the last trading day for Clarient (Formerly Chromavision), its share price and trading volume were $1.30 and 144,107 shares respectively. The total number of common shares issued and outstanding as on December 31, 2005, was 66.912 million. Hence, the market capitalization of the company as on December 31, 2005, was $86.987 million (please refer to Market Capitalization Calculations section).
- The initial public offering (IPO) for Chromavision ended on 13 August 1997. The share price for the IPO was set at $5.00 and a total of 6,028,648 shares of common stock were purchased. Hence, the market capitalization of the company as of the date of its IPO, was $30.143 million.
Initial research began by interrogating financial data sites such as Yahoo Finance, Bloomberg, Reuters, ADVFN, among others to locate the requested data. This was unproductive as it became apparent that such information providers mainly only present data for active corporations. Chromavision as a brand had been retired in 2005 and its successor Clarient was delisted in 2010. This meant very little trading history exists in the public domain and data points such as share price, market capitalization, and trade volume could not be located in full. Use of full corporation titles, related terminology, and targeted date indexing were tactics employed to yield contemporaneous news articles that may have contained relevant information but these efforts produced no results, much less relevant sources. Despite this, it was possible to obtain data relating to the 1997 IPO from Securities and Exchange Commission (SEC) filings and one database hosted information from which it was possible to triangulate data points for Clarient for the 2005 year. Such computations have been depicted below.
Through the research conducted, several subscription-based or paywalled information sources were identified that, from their description, are likely to hold the data for the 1998-2004 period which this research request could not fulfill from public sources, these include Intrinio and Quandl.
MARKET CAPITALIZATION CALCULATIONS
Total common shares outstanding as on Dec 31, 2005 = 66,912,762
Share Price as on Dec 30, 2005 = $1.30
Market Cap = 66,912,762 *1.30 = $86,986,590.60
Total common shares outstanding as on August 13, 1997 = 6,028,648
Share Price as on Aug 13, 1997=$5.00
Market Cap = 6,028,648*5.00 = $30,143,240