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.
Excluding the impact of a one-time conversion from cash-based to accrual-based revenue recognition in 2017, year-over-year revenues were essentially flat.
The company saw a drop in its Q4 sample accessions compared to the same quarter last year, but posted increases in both testing and revenues for the full year.
After validating Thermo Fisher's Oncomine panels in Biocept's CLIA lab, the companies plan to offer liquid biopsy testing to the pharmaceutical industry.
The firm plans to use the $13.3 million in net proceeds to fund ongoing operations, expansions of its liquid biopsy business, and to service its indebtedness.
The company plans to use proceeds to support its ongoing operations, expansion of its business, and to service existing debts.
This is Biocept's third BCBS contract and enables cancer patients to access the company's testing services in network under their Wellmark health plans.
Net proceeds from the offering of more than 4.9 million shares will be used for working capital and other general corporate purposes.
The trial aims to demonstrate the utility of Biocept's Target Selector PD-L1 assay in patients diagnosed with non-small cell lung cancer.
The New York Times looks at companies using genomic tools to try to quickly identify the cause of patients' infections.
The White House has asked for $2.5 billion in funding to address the COVID-19 outbreak, according to the Associated Press.
A resignation at the Marine Biological Laboratory highlights that institutions are unsure of how to handle researchers previously found to have violated codes of conduct, Nature News says.
In PNAS this week: immune responses that affect heart transplant rejection risk, gene variants associated with thiopurine toxicity, and more.