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The firm plans to offer more than 13 million shares of its common stock at $.225 per share. The offering will close on or about Jan. 14.
The company will continue to explore strategic alternatives with financial advisor Raymond James & Associates.
The drop in CGI's third quarter revenues reflect declines across the company's biopharma, clinical, and discovery services units.
The deal covers Cancer Genetics' microarray-based Tissue of Origin test, which analyzes 2,000 individual tumor genes to help identify a tumor's origin.
The firms are working together to develop precision medicine tools and platform technologies to support the development of oncology therapeutics.
The probes are for use in Cancer Genetics' FISH-based HPV-Associated Cancer Test, which measures genomic changes to help triage cervical cancer patients.
The deal will join CGI's portfolio of cancer tests and lab services with NovellusDx's technologies for cancer treatment response prediction.
The company is continuing to work with a financial advisor to evaluate strategic options, with discussions about potential transactions ongoing.
Researchers in India plan to sequence SARS-CoV-2 isolates from around the country, according to LiveMint.
Mauro Ferrari has resigned as president of the European Research Council over its response to the COVID-19 pandemic, the Financial Times reports.
Stat News reports some health tech startups are laying off or furloughing workers.
In Genome Research this week: indels affecting microsatellites in cancer, analytical approach to find key regulatory elements, and more.