BillionToOne's Oguzhan Atay Duy Ho Photography

BillionToOne’s shares soared on its first day of trading, giving the company a market cap of $5.8 billion.

O guzhan Atay, a Turkish immigrant with a Ph.D. in systems biology from Stanford University, started BillionToOne in 2016 with the idea of creating noninvasive prenatal genetic tests for common diseases, like sickle cell anemia and cystic fibrosis. Today, the Menlo Park, California-based company went public on the Nasdaq stock exchange, raising $273 million, in an offering that was upsized to meet investor demand. By the end of trading, its shares were up more than 80%, at $109 from the offering price of $60, giving it a market cap of $5.8 billion.

That makes BilliontoOne the rare medical diagnostics company to have a successful

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