NEW YORK (GenomeWeb News) – Response Genetics has launched a public offering of nearly 4.5 million shares of its common stock at $1.20 per share.

The Los Angeles-based molecular diagnostics firm said that it expects to raise about $4.8 million in net proceeds, which it will use for working capital and general corporate purposes. It could realize additional proceeds if underwriters of the offering exercise their over-allotment option of 669,666 shares.

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