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.
The Beijing-based company offers genomics products and services, including PCR instruments and cancer sequencing, and maintains a research center in the US.
ArcherDx has leveraged next-generation sequencing to develop and commercialize more than 325 research-use-only products and a pan-solid tumor diagnostic test.