Net proceeds from the exercise of subscription rights and warrants are anticipated to be $22.6 million, excluding any proceeds from the exercise of warrants.
It anticipates using the funds to complete the development of its first set of diagnostic products, and for a set of clinical studies to obtain regulatory clearance.
The PGx decision support software that Sonic is adopting includes clinical reporting for 65 genes and can be tailored to a variety of clinical specialties.
Analyst Puneet Souda said HTG has a growing funnel of biopharma projects that have the potential to convert to companion diagnostics with regulatory approval.
The Beijing-based firm said it will use the funding for research and development, to obtain additional intellectual property, and to pursue its strategic goals.
DeCode's new offering adds to an ongoing controversy over whether people in the island country have a right to know if they are at increased risk for disease.
The deal gives Biodesix an additional test in the lung cancer space, Indi's XL2, which helps to classify lung nodules identified by imaging scans as benign or malignant.
The government says it is using DNA testing as part of efforts to reunite families by court-ordered deadlines, but it will not reveal which lab is performing testing.
The FDA said that pooled testing of donations using a screening test that it has licensed is a sufficient method for complying with its testing regulations.
