Vermillion holds off delisting with $20.5m from share sales:
This article was originally published in Clinica
Diagnostics specialist Vermillion (formerly Ciphergen Biosystems) has received a timely financial boost - a windfall of $20.5m - from a private placement of approximately 24.4 million shares of common stock. The placement, made with a group of existing and new investors, will be used for general working capital and will be welcome relief to the Fremont, California-based firm, which was issued with a non-compliance letter from Nasdaq indicating a stockholders' equity below $2.5m; a market value of listed securities below $35m; or a net income of $500,000 for the previous fiscal year. Vermillion has until September 14 to regain compliance.
You may also be interested in...
Feature: Public Health England has revealed it is only a week away from approving a COVID-19 antibody test for distribution via Amazon. HBW Insight looks at the race to place the first, government-approved coronavirus home-test on the UK market.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Execs On The Move: New Global Comms Boss At Siemens; CRH CEO Now Also Chair; New CEO At ChroniSense Medical
German multinational firm Siemens picks a global communications head; CRH Medical CEO also takes on chairmanship; ChroniSense Medical, a developer of medical monitoring devices, hires a new CEO; and more.