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Cancer Genetics Files to Raise up to $46M in Public Offering

NEW YORK (GenomeWeb News) – Cancer Genetics has filed to raise up to $46 million in a public offering of its stock.

The company, which went public in April, filed its Form S-1 with the US Securities and Exchange Commission on Tuesday. It has not priced its shares or said how many shares it plans to offer. In August, Cancer Genetics made a public offering of $15 million of its shares, and began trading on the Nasdaq.

Aegis is listed as the sole book-running agent on Tuesday's SEC filing.

During the second quarter, the Rutherford, NJ-based cancer diagnostics firm said revenues increased 64 percent year over year to $1.8 million. It ended the quarter with $1.9 million in cash and cash equivalents.

In afternoon trading shares of Cancer Genetics were down more than 17 percent at $15.51.