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stock offering

The firm expects to use proceeds to fund R&D efforts, including development of its next-generation molecular diagnostics system.

The company raised about $73.8 million in net proceeds, which will go toward expansion of its facilities and further development of its sequencing technology.

The company anticipates netting $64.1 million in proceeds from the offering.

The firm sold 15,686,000 shares of common stock at a price of $2.20 per share.

The firm is selling nearly 1.2 million shares at $1.99 per share in a direct offering.

Opko said it may use some of the proceeds to make additional acquisitions.

Vermillion anticipates net proceeds of $20.2 million from the offering of 4 million common shares.

The company has lowered its price target to up to $29.9 million from as much as $33.9 million.

The company said the offering is expected to close mid-February.

The firm said that the overallotment option of 2.1 million shares was exercised, resulting in net proceeds of around $90.5 million from the offering.

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