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 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.
