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.
GenomeWeb reports that Veritas Genetics is suspending its US operations.
A Brazilian-led team of researchers reports it has generated a sugarcane genome assembly that encompasses more than 99 percent of its genome.
Certain plasma proteins could be used to gauge a person's age and whether they are aging well, according to HealthDay News.
In Science this week: approach to measure microRNA targeting efficiency, strategy to conduct high-throughput chemical screens at single-cell resolution, and more.