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CombiMatrix Shares Climb 6.4 Percent on $50M Equity Financing Deal

NEW YORK, June 15 (GenomeWeb News) - Shares in CombiMatrix were up 6.37 percent, or $.10, at $1.67 in mid-afternoon trading after the company said it plans to sell registered shares of its common stock for up to $50 million.

 

"This funding structure provides us the flexibility to access additional capital at our discretion," Amit Kumar, CombiMatrix president and CEO, said in a statement. "This commitment will enable us to finance the company for the next two years, during which time we hope to become the leading company in molecular diagnostics."

 

The deal is with Cornell Capital Partners, which can buy the shares at a 2.5-percent discount as part of a standby equity distribution agreement.

The Scan

Shape of Them All

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For Flu and More

The Wall Street Journal reports that several vaccine developers are working on mRNA-based vaccines for influenza.

To Boost Women

China's Ministry of Science and Technology aims to boost the number of female researchers through a new policy, reports the South China Morning Post.

Science Papers Describe Approach to Predict Chemotherapeutic Response, Role of Transcriptional Noise

In Science this week: neural network to predict chemotherapeutic response in cancer patients, and more.