NEW YORK (TheStreet) -- Shares of biotech supplier Fluidigm (FLDM) were popping after pricing at the low end of its expected initial public offering range.

Fluidigm jumped 6.4% to $14.37 during early afternoon trading.

The company offered about 5.6 million shares of common stock at $13.50 a share, at the low end of the expected range of $13.50 to $15.50. It raised $75 million from the offering.

Fluidigm said it plans to use proceeds from the offering for sales and marketing activities -- including the expansion of the company's sales force to support the ongoing commercialization of its products -- research and development, facility improvements and the purchasing of manufacturing and other equipment, and working capital and other general corporate purposes.

The company also plans to use a portion of the proceeds to repay about $5 million in principal plus accrued interest on debt.

Previously, Fluidigm thought it would be selling 5.2 million shares of its common stock.

Deutsche Bank Securities and Piper Jaffray were joint book-running managers for the offering, and Cowen and Company and Leerink Swann were co-managers.

The underwriters have an option to buy an additional 833,750 shares of common stock to cover potential over-allotments.

Fluidigm designs, makes and markets scientific systems to life science and biotechnology growth markets that the company said would result in lower costs and better experimental data results for customers.

So far, the company has sold systems to over 200 customers in over 20 countries worldwide, growing revenue to $25.4 million in 2009 from $6.4 million in 2006. Product margins increased to 51% in 2009 from 30% in 2006. However, significant net losses were incurred since its inception, stemming from research and development costs, and selling, general and administrative costs. The company expects to continue to incur operating and net losses for now due to expected increases in research and development costs and the expansion of its sales and marketing force.

The company reported a net loss of $19.1 million in 2009 and $23.6 million in 2006.

>>Search for Highest Dividends by Rate or Yield
More on Earnings
Today's Top Earnings
Earnings Calendar

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

>To follow the writer on Twitter, go to Andrea Tse.

>To submit a news tip, send an email to:

Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.