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Diagnostics Firm Quotient Nets $64.6M From Public Offering

NEW YORK (360Dx) – Diagnostics firm Quotient said after the close of the market on Tuesday that it has raised $64.6 million in net proceeds from a public offering of its ordinary shares.

The Switzerland-based firm said that it offered 10.6 million shares of its stock at $6.50 per share. The offering's underwriters exercised in full their option to purchase up to almost 1.4 million additional ordinary shares.

Jefferies and Cowen and Company acted as joint book-running managers for the offering.

Quotient said it plans on using the net proceeds to fund the ongoing scale-up of the company's operations and, upon regulatory approval, commercialization of its Mosaiq blood transfusion diagnostic platform. The funds will also go toward working capital and other general corporate purposes.

Separately, the company also said that it received ISO 13485:2016 certification for the Mosaiq platform. The technology already was CE marked and the ISO certification is the second of three approvals necessary to market it in Europe, Quotient said. It added that it filed a CE mark submission for its initial immunohematology microarray in September.