Skip to main content
Premium Trial:

Request an Annual Quote

Response Genetics Draws $1.5M from Term Loan

NEW YORK (GenomeWeb) – Response Genetic said in a regulatory filing that it has drawn an additional $1.5 million of a $12 million maximum term loan commitment.

As a result, the total amount advanced to the company from the term loan agreement with SWK Funding increased to $10 million. Response drew the first tranche of $8.5 million of the credit facility in July. The maturity date for the term loan remains July 30, 2020. 

Response had about $6 million in cash and cash equivalents as of Sept. 30, 2014. 

In December, the company said that it may be delisted from the Nasdaq for failing to meet two listing requirements, one for a minimum bid price of $1 per share, and another for a minimum $2.5 million in stockholders' equity. 

In afternoon trading on the Nasdaq, Reponse's shares were down more than 2 percent at $.38.