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NEW YORK – Oncocyte said Thursday that it has reached agreements for select institutional investors and other parties to purchase an aggregate of about 5.1 million shares of the company’s common stock at $1.70 per share.

Net proceeds from the financing, which will close no later than November 15, are expected to be about $8.5 million, OncoCyte wrote in a document filed with the US Securities and Exchange commission.

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Researchers have sequenced the genome of the depth-dwelling giant squid.

Prosecutors have charged a former Drexel University professor with theft for allegedly spending federal grant money on adult entertainment and other unrelated expenses, according to the Philadelphia Inquirer.

 

Chris Collins, a former US representative, has been sentenced to more than two years in prison in an insider trading case involving an Australian biotechnology firm, the New York Times reports.

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