GenMark Announces Pricing Of Public Offering Of Common Stock
GenMark Diagnostics, Inc. (NASDAQ: GNMK), a molecular diagnostics
company focused on developing and commercializing proprietary eSensor
detection technology, announced today the pricing of a public offering
GenMark Diagnostics, Inc. (NASDAQ: GNMK), a molecular diagnostics company focused on developing and commercializing proprietary eSensor detection technology, announced today the pricing of a public offering of 7,065,600 shares of its common stock at a price to the public of $4.25 per share. GenMark has granted the underwriters an option to purchase up to an additional 1,059,840 shares of common stock to cover over-allotments. The offering is expected to close on June 22, 2011, subject to customary closing conditions. Canaccord Genuity Inc. is acting as sole book-running manager of the offering, and William Blair & Company, L.L.C. is acting as co-lead manager of the offering. The offering was made pursuant to a registration statement (File No. 333-174524) initially filed with the Securities and Exchange Commission (the "SEC") on May 26, 2011, and that was declared effective on June 16, 2011. The offering of these securities will be made only by means of a prospectus. Before you invest, you should read the prospectus and any other document GenMark has filed with the SEC for more complete information about GenMark and this offering. Copies of the final prospectus, when available, may be obtained by sending a request to the offices of Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, phone: 617-371-3900. Alternatively, you may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About GenMark GenMark Diagnostics is a leading provider of automated, multiplex molecular diagnostic testing systems that detect and measure DNA and RNA targets to diagnose disease and optimize patient treatment. GenMark's eSensor® XT-8 system supports a broad range of molecular diagnostic tests with a compact, easy-to-use workstation and self-contained, disposable test cartridges. GenMark tests that are FDA cleared for IVD use include the Cystic Fibrosis Genotyping Test, Warfarin Sensitivity Test, and Thrombophilia Risk Test. A Respiratory Viral Panel (RVP) is currently undergoing a clinical trial and tests for HCV Genotyping, 2C19, and KRAS are in development. For more information, visit www.genmarkdx.com. Forward Looking Statements This press release includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements, including, but not limited to, those regarding the closing of the proposed offering described above, are all subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks and uncertainties include, but are not limited to, possible difficulties or delays in closing the proposed offering, risks related to our history of operating losses, the need for further financing and our ability to access the necessary additional capital for our business, inherent risk and uncertainty in the protection intellectual property rights, regulatory uncertainties regarding approval or clearance for our products, as well as other risks and uncertainties described under the "Risk Factors" in our public filings with the Securities and Exchange Commission. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.