Skip to main content
Premium Trial:

Request an Annual Quote

Cancer Genetics Launches $5M Private Financing

NEW YORK (GenomeWeb) – Cancer Genetics has entered into definitive agreements for a $5 million registered direct offering and will concurrently issue unregistered warrants to the investors.

The Rutherford, NJ-based diagnostics firm will sell 2.5 million shares of common stock to institutional investors. For each share of common stock purchased, investors will receive a warrant to purchase one half-share of common stock. The warrants have an exercise price of $2.25 per share and will be exercisable six months from the date of issuance, expected to be May 25, subject to closing conditions. The warrants expire five years after the initial exercise date.

Cancer Genetics expects to receive net proceeds of $4.5 million, which will be used for general corporate purposes.

As of March 31, the firm had $13.3 million in cash and cash equivalents.

Rodman & Renshaw acted as exclusive placement agent.

The Scan

Researchers Compare WGS, Exome Sequencing-Based Mendelian Disease Diagnosis

Investigators find a diagnostic edge for whole-genome sequencing, while highlighting the cost advantages and improving diagnostic rate of exome sequencing in EJHG.

Researchers Retrace Key Mutations in Reassorted H1N1 Swine Flu Virus With Avian-Like Features

Mutations in the acidic polymerase-coding gene boost the pathogenicity and transmissibility of Eurasian avian-like H1N1 swine influenza viruses, a PNAS paper finds.

Genome Sequences Reveal Evolutionary History of South America's Canids

An analysis in PNAS of South American canid species' genomes offers a look at their evolutionary history, as well as their relationships and adaptations.

Lung Cancer Response to Checkpoint Inhibitors Reflected in Circulating Tumor DNA

In non-small cell lung cancer patients, researchers find in JCO Precision Oncology that survival benefits after immune checkpoint blockade coincide with a dip in ctDNA levels.