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The firm will use the proceeds for general corporate purposes and to possibly acquire or invest in complementary businesses and technology.
The proceeds of the bond are going to support the firm's operations as it awaits a final Medicare coverage decision on its colon cancer test.
The company said it intends to use the net proceeds from the offering to fund further commercialization of its clinical tests, among other uses.
The test, called LifeKit Prevent, analyzes microbial genomic biomarkers in stool samples that are strongly associated with specific stages of CRC progression.
Chia Tai Tianqing Pharmaceutical Group has agreed to copromote Genetron's HCCscreen test in hospitals where the pharma firm has an established presence.
The company said that part of the funding was an unsecured loan to support the analysis of tumor DNA using a nucleosome immunoprecipitation method.
The changes follow a strategic review and are part of the company's previously announced plans for growing its revenues and reducing costs.
Hologic said that Biotheranostics' PCR-based gene expression tests have been validated in large studies in areas of oncology with high growth potential.
The companies said Tuesday that they are pursuing a clinical trial utilizing their respective liquid biopsy assays on clinical samples from lung cancer patients.
The firm reported preliminary revenues of $8.5 million for full-year 2020, which would beat the consensus Wall Street estimate of $8.0 million.
Over the next year or so, the investigators plan to sequence the genomes of 3,000 patients with cancer, heart disease, diabetes, or neurological disorders.
Of the 32 companies in the index, 21 firms saw their stock prices increase, while 11 firms' share prices decreased.
Illumina's acquisition of Grail, Exact Sciences' acquisition of Thrive Earlier Detection, and Invitae's acquisition of ArcherDx all topped out at over $1 billion.
AmoyDx will develop and seek regulatory approval in China for a lung cancer PCR panel to be used with Merck's MET inhibitor tepotinib.
Earlier this year, Novigenix and collaborators were awarded up to €1 million to develop a blood-based multi-omics colorectal cancer assay.
In a note to investors, Piper Sandler analysts wrote that the upgrade reflects increased confidence in Grail and Illumina's core next-generation sequencing business.
The Universities of Southampton and Leeds will lead the project with participation from Johnson & Johnson, Roche, Oncimmune, BC Platforms, Inivata, and NHS England.
The rating increase follows Oncocyte's Chinese distribution deal for its DetermaRx lung cancer treatment stratification test with Burning Rock Biotech.
The company offers a blood test that detects human papillomavirus-related cancer by measuring tumor tissue-modified viral DNA using droplet digital PCR.
The company is developing a liquid biopsy technology that uses circulating tumor DNA methylation signatures for the early detection of cancer.