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The company, which also said it is short on funds, may have to pay $18.3 million to Hudson Bay Master Fund if forebearance is not granted for the default.

A proof-of-concept assay that uses an inkjet-printed nanoscale film achieved performance comparable to that of a laboratory ELISA while testing for leptin. 

The study, launched today, aims to evaluate the use of liquid biopsy and natural killer cell testing for the early detection of recurrent breast cancer.

The company plans to use proceeds to further invest in its development of molecular testing and other strategies in the preventive medicine space.

The offering consists of two tranches of $600 million each, and the firm plans to use the net proceeds for general corporate purposes, including the repayment of outstanding senior notes due on Aug. 23.