stock offering

The firm announced in October that had entered into an agreement with Jefferies to sell up to $50 million in shares from time to time.

The firm will use the funds to commercialize its newly cleared molecular diagnostics platform and gastrointestinal pathogen panel test.

The company said it intends to use the proceeds for working capital and corporate purposes, including capital expenditures, R&D, clinical trials, and more.

The move signals a shift from the startup's original strategy of creating a cryptocurrency to compensate donors of genomic and clinical data.

The company plans to use parts of the proceeds from the offering to pay for the recent settlement with Illumina.

Biocept closed a $14.8 million public offering earlier this year and recently reported ending the second quarter with $2.6 million in cash and cash equivalents.

The firm will sell more than 14 million shares of its common stock for $4.25 per share.

The firm did not disclose how many shares it planned to sell or how much money it expects to raise.

The filing follows the firm's recent close of a $2 million non-convertible debt instrument and CE marking for its tuberculosis test.

Proceeds from the offering, expected to close on or about Aug. 14, could be used to fund acquisitions, to repay existing debts, or for working capital.

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The United Nations is to consider a ban on field testing gene drives at a meeting being held next week, Technology Review reports.

The Associated Press reports that gene-edited food may soon be for sale.

The US Department of Health and Human Services is beginning a series of meetings on human fetal tissue research, Stat News reports.

In Cell this week: epigenetic change linked to glioblastomas, rare and low-frequency variants contributing to multiple sclerosis risk, and more.