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VolitionRx Prices $20M Public Offering

NEW YORK — VolitionRx said on Wednesday that it has priced its planned $20 million public offering of 3.8 million shares.

The Austin, Texas-based company also said that it has granted Cantor Fitzgerald, which is underwriting the offering, a 30-day option to purchase up to 571,428 additional shares.

The offering is expected to close before the end of the week. VolitionRx said it will use the proceeds for general corporate purposes, which may include continued product development, clinical studies, product commercialization, working capital, and other general corporate purposes such as potential strategic acquisitions.

VolitionRx develops blood-based tests for cancer and other diseases based on a technology, called NuQ, that uses immunoassays to bind to and detect certain protein structures within circulating nucleosomes.

Earlier this year, VolitionRx — which maintains R&D operations in Belgium — announced that it had been awarded additional non-dilutive funding totaling approximately $4 million from the government of the Walloon Region and venture capital investor Namur Invest. 

During mid-morning trading on the NYSE American, shares of VolitionRx were down nearly 16 percent at $5.29.