The company will issue units representing an aggregate of shares of common stock and warrants to purchase stock shares at an aggregate purchase price of $5.72.
The Chinese company will use the funds to accelerate the registration and commercialization of its NGS-based products for cancer screening and early detection.
The company, which had received a request from the FDA for more information on the test, is planning additional studies before resubmitting the application.
PreludeDx's DCISionRT test is for women diagnosed with ductal carcinoma in situ or stage 0 breast cancer who are treated with breast-conserving surgery.
Last week, GenomeWeb's readers were most interested in the Biden administration's plan to provide $1.6 billion for COVID-19 testing and genomic sequencing.
Starting with a genome-wide association study focused on skin pigmentation, investigators identified genetic variants with additional ties to vitamin D levels.
Researchers reclassified 86 percent of variants initially determined to be VUS, potentially changing surveillance or treatment approaches for patients.
Initial partners in the program include Thermo Fisher Scientific, GNS Healthcare, DNAnexus, Personal Genome Diagnostics, and the Wellcome Sanger Institute.
A federal court ruled this week that IonPath's MIBIscope does not infringe on Fluidigm's technology, though the company has indicated it will likely appeal.
The companies have worked together on a number of other cancer-related projects, including a companion diagnostic for the ovarian cancer treatment olaparib.
The firm said it intends to apply to obtain FDA Emergency Use Authorization and 510(k) clearance for a panel that detects respiratory targets in a single test.
The company's service revenues increased 157 percent to $457.9 million due to significant COVID-19 testing volumes, slightly offset by lower base business volumes.
