The Associated Press February 4, 2011, 12:37PM ET

BG Medicine stock starts trading $7 per share

Shares of life sciences company BG Medicine Inc. debuted at $7 Friday and are rising sharply in midday trading.

The stock rose $1.30 cents, or 18.6 percent, to $8.30 under the symbol "BGMD."

The Waltham, Mass., company is selling 5 million shares of stock, up slightly from the 4.8 million it had expected to sell. The underwriters of its initial public offering will have the option to buy another 750,000 shares.

BG Medicine's main product, BGM Galectin-3, is a test for a protein involved in heart failure. The manual version of its test was approved by U.S. regulators in October, and the company expects at least one of its partners to file for marketing approval of an automated version later this year.

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