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Venaxis Files Shelf Registration to Offer $20M of Stock

NEW YORK (GenomeWeb News) – Venaxis, which is developing a multi-biomarker test for appendicitis, filed a shelf registration to publicly offer up to $20 million of its stock.

The Castle Rock, Colo.-based firm filed its Form S-3 with the US Securities and Exchange Commission after the close of the market on Tuesday to publicly offer its stock from time to time. A company spokesman said the firm currently has no specific offering planned.

Venaxis previously raised $14.4 million in May in a public offering of its shares.

The company is developing a test called APPY1 for identifying patients at low risk for appendicitis and recently said that an external Data and Safety Monitoring Board recommended full continuation of the pivotal clinical trial for the CE-marked test.

Venaxis President and CEO Steve Lundy has said that top-line data for APPY1 is anticipated to be released by the end of this year, after which the firm would file for 510(k) clearance with the US Food and Drug Administration in the first quarter of 2014 to market the test in the US.