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The firm has not yet priced the shares, but will grant underwriters a 30-day option to purchase up to an additional 847,500 shares in the stock offering.

The share prices of 20 companies in the 360Dx Index rose last month, with Exact Sciences, Natera, Invitae, and NeoGenomics the biggest gainers.

The company said it will use the proceeds for the US commercial launch of its Unyvero molecular diagnostic platform, among other things.

The company will offer 10 million shares of common stock at $1.00 per share and 50,000 shares of Series B Convertible Preferred Stock at $100.00 per share.

Seventeen of the 25 companies in the 360Dx Index saw their shares decline last month. Invitae paced the decliners, while GenMark led the gainers.

The company recently disclosed that the commercial launch of its liquid biopsy lung cancer diagnostic had been delayed.

The firm increased the number of shares it was offering after its stock price fell sharply this week.

JP Morgan Securities and Cowen and Company are the joint book-running managers for the offering, while William Blair is the lead manager.

The firm priced its offering at $2.40 per share and expects to raise $8.4 million in gross proceeds. It plans to use the funds for product development, clinical studies, and product development.

The firm said it will use the net proceeds for R&D, including the continued development of its Acuitas AMR gene panels.