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Interpace Diagnostics

The firm said it will use the proceeds for working capital, trade payables, payment of legacy obligations, and general corporate purposes.

The company said in an SEC document that it will offer about 6.3 million shares of its common stock. Some purchasers would also be able to buy prefunded warrants.  

The company will provide its molecular thyroid tests to researchers at Einstein Medical Center of Philadelphia.

Interpace shares were up 17 percent in early morning trading on the Nasdaq, as it reported a profitable quarter compared to a loss in the prior-year quarter.

The test, intended as an aid for diagnosing thyroid cancer where cytopathology is inconclusive, is now covered for around 250 million patients nationwide.

The firm had been notified in November that it failed to meet a listing requirement calling for at least $2.5 million in stockholder equity and faced delisting action. 

As part of the deal with an institutional investor, Interpace's royalty and milestone obligations will also be terminated. 

The collaboration will leverage the firms' technologies to identify patients most likely to develop pancreatic cancer and to detect the cancer in the earliest stage. 

The company intends to use the proceeds for working capital, to repay debt, and for general corporate purposes.

The company said it will use the proceeds for working capital, to repay debt and other liabilities, and for general corporate purposes.

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