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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 Salt Lake City-based company said it would use the $18.4 million in expected gross aggregate proceeds for product pipeline development and customer growth.
Roche has received regulatory clearance to finalize its acquisition of Kapa Biosystems, the company announced this week.
The company said that its board will decide the ratio and timing of the split, which will cure a previously announced authorized share failure.
In the quarter, the firm submitted two assays for 510(k) approval and increased its customer base and adoption of its Group B Strep assay.
The founder of MeTooSTEM, BethAnn McLaughlin, created a Twitter account purported to be that of an LGBTQ Native American professor at Arizona State University, the New York Times writes.
Novavax reports its candidate SARS-CoV-2 vaccine leads to immune responses, according to the Sydney Morning Herald.
Gene length is associated with lifespan in a comparative genomics study appearing in the Proceedings of the National Academy of Sciences that draws on the whale shark genome.
In Nucleic Acids Research this week: effort to annotate the rat transcriptome, web-based resource to characterize marine microbes, and more.