Skip to main content
Premium Trial:

Request an Annual Quote

CombiMatrix Anticipates up to $10.4M in Net Proceeds from Public Offering

NEW YORK (GenomeWeb News) – CombiMatrix said today that it anticipates up to $10.4 million in net proceeds from a public offering of its securities.

In an amended Form S-1 filed with the US Securities and Exchange Commission, the company said that it intends to offer 10,000 shares of Series D preferred stock and warrants to purchase up to a little more than 4.1 million shares of common stock. The proposed offering also includes about 4.1 million shares of common stock underlying the Series D preferred stock and 4.1 million shares of common stock issuable upon exercise of the warrants.

Ladenburg Thalmann is the underwriter on the offering, which was originally disclosed by CombiMatrix in September. The company has granted the underwriter a 45-day option to purchase up to 1,500 additional shares of Series D preferred stock at a price per share equal to the public offering price of a unit and/or additional warrants to purchase as much as $617,284 of shares to cover any overallotments.

If the overallotment option is exercised, net proceeds would be about $10.4 million, the company said, adding the proceeds will be used to fund general corporate purposes.

CombiMatrix has not yet priced the units in the offering.

The Irvine, Calif.-based company said last week that revenues in its third quarter had risen 15 percent year over year to $1.5 million.

The Scan

Just Breathing

A new analysis suggests that most Mycobacterium tuberculosis is spread by aerosols from breathing, rather than by coughing, the New York Times reports.

Just Like This One

NPR reports that the World Health Organization has hired a South African biotech company to recreate mRNA vaccine for SARS-CoV-2 that is similar to the one developed by Moderna.

Slow Start

The Wall Street Journal reports that Biogen's Alzheimer's disease treatment had revenues for July through September that totaled $300,000.

Genome Research Papers on Cancer Chromatin, Splicing in the Thymus, Circular RNAs in Cancer

In Genome Research this week: analysis of bivalent chromatin sites, RBFOX splicing factors' role in thymic epithelial cells, and more.