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.
Nasdaq told the company that it fails to meet requirements calling for a minimum $35 million market value of listed securities and a $1 minimum bid price on its shares.
The molecular diagnostic test detects Shiga toxin-producing E. coli and the serotype O157 directly from a patient specimen.
The molecular diagnostics firm has retained Roth Capital Partners as financial advisor to assist in restructuring Series C Warrants issued in March.
If approved, the multiplex Staph panel will grow the firm's menu of assays on its molecular platform to three.
During the quarter the firm received 510(k) clearance from the US Food and Drug Administration for its Group B Strep test.
Rady Children's Institute for Genomic Medicine and Deloitte are looking into the use of drones to transport samples for testing.
Direct-to-consumer genetic testing firm 23andMe is laying off about 100 people.
Researchers from Northwestern University examined dust for antibiotic-resistance genes, New Scientist reports.
In Science this week: researchers present a computational method for predicting cellular differentiation state from single-cell RNA sequencing data, and more.