Skip to main content
Premium Trial:

Request an Annual Quote

Trovagene Eyes $6.1M in Public Offering

NEW YORK (GenomeWeb News) – Trovagene said in a regulatory filing on Wednesday that it is publicly offering $6.1 million of its common stock.

In total, the company plans on offering more than 1.2 million shares, which will be issued upon the exercise of outstanding warrants that Trovagene issued in mid-2012 as part of a public offering when the company moved to the Nasdaq.

The common stock offering is part of a $150 million shelf registration that the company filed with SEC earlier this week.

The San Diego-based molecular diagnostics firm will offer up to 1.15 million shares of its stock at $5.32 per share from time to time upon the exercise of the currently outstanding warrants, it said in a document filed with the US Securities and Exchange Commission. It also will issue up to 92,000 shares at $7 per share from time to time upon exercise of the outstanding warrants issued to the underwriter and its designees.

The $6.1 million in net proceeds expected from the offering will go toward R&D, working capital, and general corporate purposes. Trovagene said it expects to have about 16.8 million shares of its common stock outstanding if all the warrants in the offering are exercised.

Shares of Trovagene were down 6 percent at $6.46 in afternoon trading.

The Scan

Purnell Choppin Dies

Purnell Choppin, a virologist who led the Howard Hughes Medical Institute, has died at 91, according to the Washington Post.

Effectiveness May Decline, Data From Israel Suggests

The New York Times reports that new Israeli data suggests a decline in Pfizer-BioNTech SARS-CoV-2 vaccine effectiveness against Delta variant infection, though protection against severe disease remains high.

To See Future Risk

Slate looks into the use of polygenic risk scores in embryo screening.

PLOS Papers on Methicillin-Resistant Staphylococcus, Bone Marrow Smear Sequencing, More

In PLOS this week: genomic analysis of methicillin-resistant Staphylococcus pseudintermedius, archived bone marrow sequencing, and more.