The firm expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price.
The firm said that the largest public hospital purchasing group in France has awarded it a public tender certification to supply its solution.
Overall, 10 of the 26 companies in the 360Dx Index declined last month, but it still beat the broader markets.
Lab directors selecting new instruments for antimicrobial testing may wait for clinical proof and then evaluate timing, throughput, and cost.
Foundation Medicine, Invitae, Accelerate Diagnostics, and Myriad Genetics each saw their share prices jump more than 20 percent last month.
The firm believes that its definitive monomicrobial test, which usually eliminates the need for additional validation testing, may give it an edge over competitors.
The firm reported preliminary revenues of $246,000 for 2016, and said that after receiving FDA clearance, it expects a lift in sales of its ID/AST blood-based infection test.
The PhenoTest BC Kit identifies organisms that cause bloodstream infections and provides information about antibiotic sensitivity.
Executives provided updates on their companies at the 35th Annual JP Morgan Healthcare Conference in San Francisco, CA, Day 3.
The test is based on a biomarker signature that consists of a core set of 31 genes associated with endotoxin tolerance in sepsis patients.