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GenMark Diagnostics Commences $65M Public Offering of Common Stock

NEW YORK (GenomeWeb) – GenMark Diagnostics said after the close of the market on Monday that it has commenced a $65 million public offering of its common stock.

JP Morgan and Bank of America Merrill Lynch are joint book-running managers for the offering.  GenMark noted that it intends to grant the underwriters a 30-day option to purchase up to $9.75 million in additional shares.

The firm said that it intends to use the net proceeds from the offering for general corporate purposes and to fund its commercialization efforts.

Earlier on Monday, GenMark announced it had received 510(k) clearance from the US Food and Drug Administration for its ePlex instrument and Respiratory Pathogen Panel.