In an SEC document, the company said net proceeds are expected to be $5.8 million and will be used to support an anticipated submission to the FDA, among other things.
Since moving to rapid molecular testing, the lab has doubled its billable test volume, largely through increasing clients for its outreach lab services.
The researchers said that affordable tests that can differentiate malaria from similar diseases is vital for administering the most targeted treatment for patients.
The firm said that its rapid flu detection platform helps reduce the subjectivity of interpreting test results and can be used in a broad range of healthcare settings.
Members of the FDA, CDC, and CMS, comprising the Tri-Agency Task Force for Emergency Diagnostics, will work together to quickly respond to public health needs.
The firm missed the consensus Wall Street estimate on the bottom line, even as its ePlex analyzer Q4 revenues more than doubled year over year to $12.1 million.
The British molecular diagnostics firm recently completely a redesign of its point-of-care system, called Q-POC, and is planning to seek a CE-IVD mark for the device later this year.
The firm said that the test provides results of HBV status in 15 minutes with high analytical sensitivity, and that testing can be completed while the patient is present.
The Polish company recently received 9 million Polish złoty ($2.4 million) from the country's National Center for Research and Development to support its activities.
The assay's CE marking permits its use for the early diagnosis of HIV-1 in infants and for measuring viral load and disease progression using dried blood spot samples.
Cardiac immunoassays paced revenue growth in Q4. The firm also saw an 88 percent jump in total revenues for 2018, supported by 43 percent growth in molecular diagnostics.
