Close Menu

stock offering

The synthetic biology firm had total revenues of $19.3 million and withdrew its financial guidance for fiscal year 2020 citing uncertainty caused by COVID-19.

With its second offering in less than a year, the AI and analytics company will apply as much as $487,000 to repay debts. 

GenMark said it intends to use the proceeds for general corporate purposes that may include an expansion of its menu and increasing its manufacturing capacity.

The test will be included in the World Health Organizations list of prequalified in vitro diagnostics and UN agencies will be able to procure it.

The company said it intends to use the proceeds for general corporate purposes and to repay borrowings under its term loan facility.

The Massachusetts sequencing firm has been selling technology originally developed by Helicos BioSciences and planned to increase marketing with the IPO proceeds.

The firm will offer 4.7 million shares of its stock at $2.27 per share. Proceeds will go toward the development and commercialization of its tests.

The funds will be used to launch new products in the US, as well as for R&D activities including the development of polygenic risk tests with partner TGen.

The company is also participating in a study, being conducted at Hannover Medical School, investigating the genetics of susceptibility to COVID-19.

The company withdrew its 2020 revenue guidance and said it expects to report revenues of more than $63 million in the quarter ended March 31.

Pages

The Washington Post reports on researchers' efforts to determine the effect of an increasingly common SARS-CoV-2 mutation.

Florida Politics reports Florida's law barring life, long-term care, and disability insurers from using genetic information in coverage decisions went into effect at the beginning of July.

A new analysis finds a link between popular media coverage of a scientific study and how often that paper is cited.

In Nature this week: CRISPR approaches to editing plant genomes, way to speed up DNA-PAINT, and more.