DiaSorin said its Liaison Testosterone xt test enables the detection of fertility disorders, such as hypogonadism in men and hyperandrogenism in women.
Progenity recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.
Along with predicting preeclampsia, the Delfia Xpress sFlt-1 kit can be used to help diagnose the condition in the second and third trimesters of pregnancy.
While Sera's previous validation work focused on the 37 and 35 week time points, the 32 week mark is perhaps most crucial in terms of patient outcomes.
The assays quantitatively measure the activity of galactose-1-phosphate uridylyltransferase and biotinidase enzymes from newborn dried blood spot specimens.
The company has identified progesterone metabolites linked to preterm birth and is looking to develop them for predicting risk of delivery prior to 32 weeks.
The notes will be sold at an initial effective conversion price of about $38.79 per share, approximately a 30 percent premium to Monday's $29.84 per share closing price.
The company is withdrawing its previous financial guidance for 2020, saying that it cannot predict the extent or duration of the impact of the COVID-19 pandemic.
Under the 2018 agreement, the companies had planned to develop cell-free DNA assays for prenatal screening using Qiagen's GeneReader sequencing system.
The at-home test is designed to measure the presence of PdG, a urine metabolite of the hormone progesterone, to help women confirm successful ovulation.
The firm reported quarterly revenues of $8.4 million and large increases in the number of billable tests delivered in the quarter and over the full year.
The firm plans to use the cash to support commercial expansion of its NIPT to all US states and fund R&D for future diagnostic tests, including liquid biopsies.
