This article was originally published in The Gray Sheet
AMEX halts trading of the company's common stock on its Emerging Company Marketplace. "To resume we need to raise additional capital," Epigen says; the company has proposed a private placement of between $1.2 mil. and $7 mil. of its common stock. The proceeds will be used "for working capital purposes" including prospective clinical trials toward a PMA for the company's in vitro blood test for monitoring breast cancer patients. While Epigen believes the placement will "favorably impact" AMEX's decision to resume trade in their stock, "there can be no assurance that such financing will be completed." The firm "does not know whether or when trading will resume," it said in a written release
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