The firm said it anticipates using the net proceeds from the offering for general corporate purposes and to fund its commercialization efforts.
The company noted that it has granted its offering underwriters a 30-day option to purchase up to an additional 412,500 shares at the public offering price.
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.