Great Basin

The test was recently submitted to US regulators and is expected to start contributing to Great Basin's revenues in the second half of the year.

The firm has immediate access to $800,000 in previously restricted cash, and an additional $10.8 million in capital through new convertible notes.

The test, which runs directly from a patient nasopharyngeal swab, is the fifth assay on the firm's sample-to-result molecular diagnostics platform.

The company said that changes it made in the fourth quarter, including a recently announced restructuring plan, will lead to improvements in 2017.

The new filing comes after the firm recently withdrew plans last month to raise $8 million. 

As part of a restructuring and cost reduction plan the firm also reduced the principle of its 2016 convertible note by about half.

The PCR-based test detects Bordetella pertussis, the infectious agent that causes whooping cough, directly from patient samples. 

The firm also reported that preliminary full-year 2016 revenues improved 42 percent year over year. 

The firm has asked the SEC to withdraw a registration statement for a previously planned $8 million equity financing, saying it no longer needs the financing.

The company also increased its number of authorized shares of common stock to 1.5 billion shares from 200 million shares. 

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