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The company said it intends to use the proceeds of the offering to advance its MosaiQ high-throughput automated testing products, among other things.

The company said it will use the net proceeds for general corporate purposes and to fund ongoing operations and expansion of its business.

Of the 29 companies in the index, 18 companies' share prices declined while the share values of 11 increased month over month.

The company priced the offering at $1.50 per share and said it will use some of the proceeds to fund research, development, and commercialization of its portfolio.

OpGen said it intends to use the proceeds of the offering to complete its acquisition of German molecular diagnostics firm Curetis, among other things.

If the underwriters exercise their option to purchase the over-allotment in full, total gross proceeds from the offering would be $230 million.

The company said it processed around 200,000 tests in the third quarter, representing approximately 20 percent growth over the year-ago quarter.

The proceeds from the sale will go toward the planned acquisition of Curetis and to support the ongoing submission of its technology to US regulators.

The firm has launched both a public offering of common stock as well as a private placement of warrants, expecting to bring in around $20 million from the transactions.

Exagen, which develops and markets autoimmune tests, went public on the Nasdaq today and expects gross proceeds of $50.4 million from its IPO. 

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