Skip to main content
Premium Trial:

Request an Annual Quote

Gene Logic Completes $270 M Second Offering

Premium

G

AITHERSBURG, Md.--Gene Logic announced that it has completed a $270 million follow-on offering of 4.83 million shares of common stock at $56 per share. The total includes the exercise of the underwriters’ overallotment option of 630,000 shares, 150,000 of which were sold by certain stockholders of the company. The gross proceeds to Gene Logic from the offering were $262 million. Net proceeds will be used to fund product and technology development, expand database product marketing efforts, and provide working capital for general corporate purposes, including possible acquisitions. Mark Gessler, Gene Logic’s president and chief operating officer said, "The completion of this offering creates a very strong foundation for future growth of the company, further development of the GeneExpress database, and expansion of the marketing and sales organization."

Filed under

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge is weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.