NEW YORK (GenomeWeb News) – Trovagene said after the close of the market Tuesday that it has raised gross proceeds of $3.8 million from a private placement of stock and warrants.

The San Diego-based molecular diagnostics developer placed 940,000 units at a purchase price of $4 per unit. Each consists of one share of unregistered common stock and one warrant to purchase one share of common stock. The warrants are exercisable for five years from the date of closing at an exercise price of $5.32 per share.

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