NEW YORK (360Dx) – In a filing with the US Securities and Exchange Commission this week, Precipio said that it amended and restated an earlier securities purchase agreement with investors, The amendment enables it to issue up to $1.3 million of additional notes with applicable warrants, based on substantially the same terms and conditions as the notes and warrants granted in connection with the prior securities purchase agreement.
Investors can purchase the additional notes and warrants until Dec. 31, the firm said. Those investors who participated in the previous subscription and new investors, including two members of the firm's board of directors, subscribed to the additional notes.
Precipio anticipates that the closing of the extended transaction will provide it with an aggregate principal of $1.3 million.
In the same filing, the firm noted that it also entered a letter of agreement with two of its directors to reprice the total number of 652,723 warrants that were issued to them at $.50 per share.
Precipio disclosed in April that it had entered into the earlier securities purchase agreement, which enabled it to issue up to about $3.2 million in senior secured convertible promissory notes, bearing an interest rate of 8 percent annually and an original issue discount of 9 percent.
OpGen said this week that it has received approval from the Instituto Nacional de Vigilancia de Medicamentos y Alimentos — Colombia’s regulatory authority for food, drugs, and medical devices — to market its rapid pathogen identification products in the country. The firm's QuickFISH product, which is already cleared by the US Food and Drug Administration, identifies pathogens in 20 minutes in positive blood culture. The approval in Colombia follows a study using QuickFISH conducted by researchers at Universidad El Bosque, the Bacteria Resistance and Hospital Epidemiology, Centro Internacional de Entrenamiento e Investigaciones Medicas, and four Colombian acute care hospitals. OpGen said the results demonstrated a 57 percent improvement in survival rate and reductions in antibiotic usage for patients tested with the rapid diagnostic test.
Genedrive said this week that its HCV-ID test is being used in an international multi-center trial called REACH and sponsored by drug developer AbbVie. The trial aims to assess the impact of hepatitis C virus diagnostics and therapy in a pharmacy setting versus conventional treatment pathways. Investigators will use Genedrive's test in one of two arms of the randomized trial to test patients for HCV infection and assess virological response following treatment over the course of 12 weeks, a Genedrive spokesperson said. John Dillon, professor of hepatology and gastroenterology at the University of Dundee, is leading the trial, which will cover up to 40 pharmacies across three sites in Scotland, Wales, and Australia.
Danaher’s board approved a quarterly dividend of $.16 per share, payable on Jan. 15, 2019 to shareholders of record on Dec. 28, 2018.
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