Skip to main content
Premium Trial:

Request an Annual Quote

Exact Sciences Plans to Net $56.2M in Public Offering

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Exact Sciences today said it anticipates raising $56.2 million in net proceeds from a public offering of 10 million shares of its common stock at $6 per share.

The Madison, Wis.-based company said the proceeds will be used to fund clinical trials of its products, working capital, and other corporate purposes. That includes the funding of strategic initiatives including product development, and further efforts to obtain clearance from the US Food and Drug Administration for its sDNA colorectal cancer screening product. Last week, the company presented results from a validation study for the test.

Jefferies & Co. and Robert W. Baird are acting as joint book-running managers in the offering. Lazard Capital Markets and Rodman & Renshaw are co-managers. The underwriters have been granted a 30-day option to purchase an aggregate of 1.5 million additional shares of Exact Sciences' common stock to cover over-allotments, if any.

The offering is expected to close on or about Nov. 9.

In April, Exact Sciences raised $17.6 million in a public offering.

The Scan

Comfort of Home

The Guardian reports that AstraZeneca is to run more clinical trials from people's homes with the aim of increasing participant diversity.

Keep Under Control

Genetic technologies are among the tools suggested to manage invasive species and feral animals in Australia, Newsweek says.

Just Make It

The New York Times writes that there is increased interest in applying gene synthesis to even more applications.

Nucleic Acids Research Papers on OncoDB, mBodyMap, Genomicus

In Nucleic Acids Research this week: database to analyze large cancer datasets, human body microbe database, and more.