Cancer Genetics, Inc. Increases Previously Announced Bought Deal to $3.0 Million


Deprecated: strlen(): Passing null to parameter #1 ($string) of type string is deprecated in /home/medicircle/public_html/script_newsdetails.php on line 75
▴ Cancer Genetics, Inc. Increases Previously Announced Bought Deal to $3.0 Million
Cancer Genetics, Inc. Increases Previously Announced Bought Deal to $3.0 Million

Cancer Genetics, Inc. (“Cancer Genetics”), a leader in drug discovery and preclinical oncology and immuno-oncology services, announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 1,363,637 shares of common stock of the Company at a price to the public of $2.20 per share, less underwriting discounts and commissions. The offering is expected to close on or about November 2, 2020, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The Company has also granted to the underwriter a 30-day option to purchase up to an additional 204,545 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds of the offering are expected to be approximately $3.0 million, prior to deducting underwriting discounts and commissions and offering expenses and excluding the underwriter’s option to purchase additional shares. Cancer Genetics intends to use the net proceeds to fund working capital and other general corporate purposes.

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on July 21, 2020. A preliminary prospectus supplement describing the terms of the offering was filed with the SEC on October 28, 2020, and is available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

About Cancer Genetics, Inc.

Through its vivoPharm subsidiary, Cancer Genetics offers proprietary preclinical test systems supporting drug discovery programs valued by the pharmaceutical industry, biotechnology companies, and academic research centers. The Company is focused on precision and translational medicine to drive drug discovery toward novel and repurposed therapies. vivoPharm specializes in conducting studies tailored to guide drug development, starting from compound libraries and ending with a comprehensive set of in vitro and in vivo data and reports, which are needed for Investigational New Drug filings. vivoPharm operates in the Association for Assessment and Accreditation of Laboratory Animal Care International (AAALAC) accredited and GLP compliant audited facilities.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Cancer Genetics, Inc.’s expectations regarding future financial and/or operating results, the proposed offering of Cancer Genetics, Inc.’s shares of common stock, including as to the consummation of the public offering described above and the use of net proceeds therefrom, potential for our tests and services and future revenues or growth in this press release constitute forward-looking statements.

Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements.

Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in our ability to satisfy all closing conditions to the merger with StemoniX, Inc., our attempts to adapt to the global coronavirus pandemic, achieve profitability by increasing sales of our pre-clinical services, maintain our existing customer base and avoid cancellation of customer contracts or discontinuance of trials, raise capital to meet our liquidity needs, market and other conditions, properly evaluate strategic options, and other risks discussed in the Cancer Genetics, Inc. Form 10-K for the year ended December 31, 2019 and Form 10-Q for the quarter ended June 30, 2020, along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.

Tags : #CancerGenetics #30Million #HCWainwrightCo #cancer #StemoniX

Related Stories

Loading Please wait...

-Advertisements-



Trending Now

SRM College of Pharmacy Hosts Two-Day National Pharmaceutical ConferenceAugust 21, 2026
Atomy India Joins Hands with the Paralympic Committee of India as OfficialNutrition and Wellness PartnerAugust 21, 2026
Thumbay International Pathway - MD Program with Installments and a Direct Route to Residency in RomaniaAugust 21, 2026
THIP wins ‘Breakthrough Digital Patient Education Initiative’ award at India Vaccine Leaders Conclave in PuneAugust 21, 2026
Three Watermelons, a Mannequin Head and a PS5: What India Left Behind on Intercity BusesAugust 21, 2026
Evaluating Thyroid Nodules: Fine Needle Aspiration Cytology (FNAC) and Bethesda ClassificationAugust 21, 2026
Clinical Approaches to Acute Kidney Injury (AKI): Biomarkers, Staging, and Renal Replacement TherapyAugust 21, 2026
Diabetes Care in India: Understanding the Crisis, Bridging the Gaps, and Building a Healthier FutureAugust 21, 2026
Diabetes Management: Lifestyle Changes That Make a Real DifferenceAugust 21, 2026
TagMango introduces New AI capabilities for creator businesses at RISE 2026August 20, 2026
AFib: The Irregular Heartbeat We Need to Stop IgnoringAugust 20, 2026
Nanavati Max Launches Dedicated Cancer Helpline to Support Patients and Families In Their Cancer JourneyAugust 20, 2026
Modern Interventions in Maxillofacial Trauma: Soft Tissue Repair and Internal Fixation FrameworksAugust 20, 2026
Building Disaster Recovery Protocols for Hospital IT: Ensuring 99.9% Uptime During OutagesAugust 20, 2026
Importance of Nutrition: Why What You Eat Shapes Your Health, Energy, and FutureAugust 20, 2026
Stress Management: Causes, Symptoms, Signs and Effective Relief StrategiesAugust 20, 2026
Vulnerable families in Chennai receive free eye check-up in collaborative camp from SOS Children’s Villages India and Dr Agarwals Eye HospitalAugust 19, 2026
Kauvery Hospital Builds an Integrated Epilepsy-Care Network Across Its Chennai HospitalsAugust 19, 2026
NIIMS Observes World Breastfeeding Week 2026 with Community Outreach, Awareness Sessions and Practical Nutrition ActivitiesAugust 19, 2026
Apollo Hospitals launches ‘Always Open, Always Here’, a global first in healthcare from IndiaAugust 19, 2026