Mergers and acquisitions in the omics space rose for the second year in a row, but the increase was significantly less than the 33 percent uptick in 2015 deals.
Luminex expects Nanosphere to contribute between $13 million and $16 million to its consolidated revenue in 2016.
Luminex's anticipated FY 2016 revenue growth of 6 percent to 9 percent could potentially push higher into the double digits following the integration of Nanosphere.
The company raised its offer to $1.70 per share from its previous agreement of $1.35 per share in response to an unsolicited bid from a third party.
Luminex said it will pay $1.35 per share for the molecular diagnostics developer, which today reported Q1 revenues rose 43 percent year over year.
The investment bank set a 12-month price target of $2 for the company, saying its Verigene system and tests differentiate it from the competition.
The company attributed the increase predominantly to a continued adoption of its infectious disease menu by US microbiology laboratories.
The exchange warned the company that its stock could be delisted if it doesn't meet the $1.00 minimum required closing bid price.
The molecular diagnostics company also reported 35 new customer placements in the fourth quarter.
The firm priced each share at $.47, and plans to use the funding for general corporate purposes and working capital.
In PLOS this week: genetic study of breast cancer in Egyptian families, mutations linked to cleft lip and palate, and more.
Council Bluffs, Iowa, schools are encouraging more girls to pursue STEM courses, according to the Associated Press.
Because of new open-access requirements, Gates Foundation-funded researchers can't publish in some top journals, Nature News reports.
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