NEW YORK (GenomeWeb News) – Response Genetics said that it expects to close today a private placement of its common shares, through which the firm expects to raise $4 million.
The Los Angeles-based molecular diagnostics firm said that it has signed a purchase agreement with certain new and existing investors and funds managed by Landsdowne Partners. It expects to sell to those buyers 3,005,349 of newly issued common shares at a price of $1.31 per share.
Response Genetics did not disclose its intended uses of the proceeds from the placement.
Shares of Response Genetics closed at $1.20 in Friday trade on the Nasdaq.