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Orchid to Raise $14M in Private Placement

NEW YORK (GenomeWeb News) - DNA testing company Orchid Cellmark has struck agreements with new and existing institutional investors to raise around $14 million in private equity financing, the company said today.
 
Orchid said it plans to issue 4.87 million shares of stock at $2.88 each and that it expects the transaction to close today.
 
It plans to use the funding for working capital and general corporate expenses.
 
Orchid shares fell 6 percent on the news to $3.20 in afternoon trading.
 
Earlier this month, Orchid reported stagnant third-quarter revenues accompanied by narrowed net losses. The company had around $12.5 million in cash and cash equivalents as of Sept. 30.

The Scan

Interfering With Invasive Mussels

The Chicago Tribune reports that researchers are studying whether RNA interference- or CRISPR-based approaches can combat invasive freshwater mussels.

Participation Analysis

A new study finds that women tend to participate less at scientific meetings but that some changes can lead to increased involvement, the Guardian reports.

Right Whales' Decline

A research study plans to use genetic analysis to gain insight into population decline among North American right whales, according to CBC.

Science Papers Tie Rare Mutations to Short Stature, Immunodeficiency; Present Single-Cell Transcriptomics Map

In Science this week: pair of mutations in one gene uncovered in brothers with short stature and immunodeficiency, and more.