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NEW YORK — DermTech, a developer of molecular diagnostics for skin cancer and other dermatologic disorders, said on Monday that it has agreed to sell approximately $65 million in stock to undisclosed institutional investors.

Under the terms of the private placement, DermTech will sell about 2,467,724 shares of common stock at $10.50 per share, as well as 3,199 shares of Series B-1 convertible preferred stock and 524 share of Series B-2 convertible preferred stock at $10,500 per share.

During early morning trading on the Nasdaq, shares of DermTech were down $.56 at $11.37.

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