Skip to main content
Premium Trial:

Request an Annual Quote

Transgenomic to Raise $8.3M in Private Placement

NEW YORK (GenomeWeb News) – Transgenomic today said that it has signed definitive agreements with a syndicate of institutional and other accredited investors to raise gross proceeds of $8.3 million in a private placement of its shares.

Under the purchase agreement, Transgenomic will issue an aggregate of 16.6 million shares of its common stock at $.50 per share, as well as five-year warrants to purchase up to an aggregate of 8.3 million shares of its common stock at an exercise price of $.75 per share.

Transgenomic said that it intends to use proceeds from the offering for general corporate and working capital purposes, in particular to accelerate commercialization of several of its genetic tests. The offering is expected to close on or about Jan. 30.

The syndicate includes new and existing investors, including entities associated with Third Security, said Transgenomic.

Lazard Capital Markets served as the lead placement agent for the offering, with Craig-Hallum Capital Group acting as co-placement agent.

In Friday morning trade on the OTC Bulletin Board shares of Transgenomic were down 24 percent at $.53.

The Scan

Germline-Targeting HIV Vaccine Shows Promise in Phase I Trial

A National Institutes of Health-led team reports in Science that a broadly neutralizing antibody HIV vaccine induced bnAb precursors in 97 percent of those given the vaccine.

Study Uncovers Genetic Mutation in Childhood Glaucoma

A study in the Journal of Clinical Investigation ties a heterozygous missense variant in thrombospondin 1 to childhood glaucoma.

Gene Co-Expression Database for Humans, Model Organisms Gets Update

GeneFriends has been updated to include gene and transcript co-expression networks based on RNA-seq data from 46,475 human and 34,322 mouse samples, a new paper in Nucleic Acids Research says.

New Study Investigates Genomics of Fanconi Anemia Repair Pathway in Cancer

A Rockefeller University team reports in Nature that FA repair deficiency leads to structural variants that can contribute to genomic instability.