Skip to main content

Genaissance Hopes to Pocket $6M In Private Stock Placement

NEW YORK, Nov. 19 (GenomeWeb News) -  Genaissance Pharmaceuticals expects to pocket $6 million in a private placement of 3.55 million shares of newly issued common stock, and warrants for another 3.55 million shares to undisclosed institutional investors and other accredited investors, the firm said today.

 

The NEw Haven, Conn.-based phramacogenomics company said that it plans to use the proceeds for general corporate purposes, including the repayment of debt.

 

The private placement, which the company said it expects to close this afternoon, comes after announcing earlier this week a layoff of 10 percent of its workforce in an attempt to reach break even from operations.

The Scan

Call to Look Again

More than a dozen researchers penned a letter in Science saying a previous investigation into the origin of SARS-CoV-2 did not give theories equal consideration.

Not Always Trusted

In a new poll, slightly more than half of US adults have a great deal or quite a lot of trust in the Centers for Disease Control and Prevention, the Hill reports.

Identified Decades Later

A genetic genealogy approach has identified "Christy Crystal Creek," the New York Times reports.

Science Papers Report on Splicing Enhancer, Point of Care Test for Sexual Transmitted Disease

In Science this week: a novel RNA structural element that acts as a splicing enhancer, and more.