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warrants

The Rutherford, NJ-based cancer molecular diagnostics firm will use the proceeds for general corporate purposes.

The Salt Lake City-based company said it would use the $18.4 million in expected gross aggregate proceeds for product pipeline development and customer growth.

The molecular diagnostics firm has retained Roth Capital Partners as financial advisor to assist in restructuring Series C Warrants issued in March.

The firm closed its existing debt facility with Silicon Valley Bank and Oxford Finance and plans to use the funds for general corporate purposes and working capital.

The offering raised net proceeds of $6.2 million, which will be used for working capital and general corporate purposes, the firm said. 

The firm, which went public in October, made a public offering of more than 2.5 million units at $8.80 per unit. 

CombiMatrix expects to receive net proceeds of $4.75 million from the offering, which it plans to use for general corporate purposes.

The firm said in an SEC document that it plans to offer up to $11.5 million in its common shares and up to $11.5 million in common stock issuable upon the exercise of warrants.

The firm now has more than 52 million common shares outstanding.

The company filed a prospectus to offer units comprising its Series E convertible preferred stock and Series C warrants.

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Four Republican lawmakers urge President-elect Donald Trump to keep Francis Collins as NIH director, Stat News reports.

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Sequencing of a 10,000-year-old mummy leads to its repatriation to the Fallon Paiute-Shoshone Tribe, Nature News reports.