This article has been updated from a previous version to clarify the fact that the company is not raising funds at this time.
NEW YORK (GenomeWeb News) – Genomic Health has filed a replacement shelf registration for up to 10 million shares of its common stock in one or more offerings, according to a statement filed with the US Securities and Exchange Commission on Tuesday.
According to the preliminary prospectus, the Redwood City, Calif.-based molecular diagnostics firm would use any proceeds from the offering for general corporate purposes, including working capital, financing of capital expenditures, and repayment or redemption of existing indebtedness. The amount raised will depend on how many of the authorized shares the firm offers and its stock price at the time.
A Genomic Health spokesperson said that the company filed the registration to extend an existing shelf, which was due to expire on June 30, and that it has no plans to raise funds in the short term .
As of May 31, the company had 28,805,096 shares of its common stock issued and outstanding, it said in its filing.
Last month, the company said its first-quarter revenues rose 22 percent year-over-year. It launched its Oncotype Dx test for colon cancer during the first quarter.
In Wednesday afternoon trade on the Nasdaq, shares of Genomic Health were down around 1 percent at $13.63.