The previously FDA-approved test uses PCR to detect Shiga toxin-producing Escherichia coli and serotype O157 directly from patient specimens.
The company was told in October that it was not in compliance with continued listing rules, and it also received a notice of potential delisting in April.
Two of the firm's assays were evaluated in posters presented at a recent conference, demonstrating good performance relative to commonly used non-molecular methods.
The company said it plans to use the proceeds to fund R&D, manufacture additional analyzers, and for general working capital, among other things.
The firm saw a 120 percent year-over-year increase in US customers and increased its R&D spending by 53 percent.
The company said it plans to schedule a hearing in front of the Nasdaq Listing Qualifications Panel to ask for a 30 day extension to regain compliance.
The two-hour assay detects DNA of multiple species of Staphylococcus as well as the mecA drug-resistance gene in positive blood cultures.
The new PCR-based test is designed to detect Shiga toxin-producing Escherichia coli (STEC) and serotype O157 directly from patient specimens.
The company attributed the revenue growth to additions to its customer base and adoption of a recently-cleared assay for Group B Strep.
The company is offering 39.2 million units at $.16 each, and is hoping to raise $6.3 million to fund R&D and expand its manufacturing capacity.
The Wall Street Journal looks into FamilyTreeDNA's handling of genetic genealogy searches by law enforcement.
In a point-counterpoint in the Boston Globe, researchers discuss the potential of gene editing to prevent Lyme disease, but also the pitfalls of doing so.
MIT's Technology Review reports that researchers hope to develop a CRISPR-based pain therapy.
In Science this week: atlas of malaria parasites' gene expression across their life cycles, and more.