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Sequenom to Net $18M in Private Stock Placement; Shares Surge 14 Percent

NEW YORK (GenomeWeb News) — Sequenom will sell $20 million worth of its common stock to new and existing institutional investors, the company said today.
 
The company said it plans to sell 6.7 million shares for $3 apiece, a 1-cent premium over yesterday’s closing price of $2.99. Sequenom said it plans to close the sale by Friday.  
 
After deductions for expenses, Sequenom said it expects the sale to net around $18.4 million.
 
News of the placement caused shares in the stock to trade up 14.25 percent, or $.43, at $3.42 in mid-afternoon trading today.
 
Lehman Brothers and Rodman & Renshaw will act as placement agents for the transaction.

The Scan

Looking for Omicron

NPR reports that SARS-CoV-2 testing in the US has gotten better but also that some experts say more needs to be done to better track the Omicron variant.

Holmes Alleges Abuse

The Associated Press reports that Theranos' Elizabeth Holmes has testified at her wire fraud trial that her business and romantic partner abused her.

Bit More Diverse, But More to Do

While Black and Hispanic patients are more likely to participate in cancer clinical trials than previously, they are still underrepresented, according to US News & World Report.

PNAS Papers on Yeast Gene Silencing, Zika Virus Inhibition, Immunoglobulin Hypermutation

In PNAS this week: gene silencing in Saccharomyces cerevisiae, possible neuroprotective role for SHFL in a mouse model of Zika virus infection, and more.