In its IPO prospectus, the company shared plans to broaden the use of its methylation technology from cancer screening to diagnostics and residual disease monitoring.
The firm intends to use about $25 million to $30 million of the net proceeds for the continued development and planned commercialization of its KidneyIntelX platform.
Progenity recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
The firm has granted the underwriters an option to purchase up to 2,400,000 additional shares, which would contribute additional gross proceeds of up to $38.4 million.
The company recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
