Sequenom said it will issue and sell a total of 12.43 million shares of common stock at $4.15 in a private placement to certain investors. The price represents a 22.7% discount to Sequenom's closing price of $5.37 Tuesday.
Sequenom intends to use the net proceeds from the financing to advance its research, development and commercialization of various diagnostic tests, as well as for general corporate purposes.
Lately, Sequenom shares were down 2.6% to $5.23. Volume topped 1.72 million only 30 minutes into the trading day, compared to its 50-day average daily volume of 6.19 million.
13 Biotech Stocks Presenting New Data
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