PARSIPPANY, N.J., Feb. 8, 2017 /PRNewswire/ -- Interpace
Diagnostics Group, Inc. (IDXG)("Interpace" or the "Company"), a
fully integrated commercial company that provides clinically useful
molecular diagnostic tests and pathology services, today announced
the closing of its previously announced underwritten public
offering of 1,200,000 shares of common stock at a public offering
price of $3.00 per share, as well as
108,000 additional shares of common stock pursuant to the exercise
in full of the over-allotment option granted to the
underwriters.
The gross proceeds to the Company from this offering, including
proceeds from the exercise of the over-allotment option, were
approximately $3.9 million, before
deducting underwriting discounts and commissions and other offering
expenses.
Maxim Group LLC acted as sole book-running manager for the
offering. Roth Capital Partners acted as financial advisor to
Interpace.
The shares of common stock described above were sold under the
Company's shelf registration statement on Form S-3 (No.
333-207263), including a base prospectus, previously filed with and
declared effective by the U.S. Securities and Exchange Commission
("SEC"). The shares were sold by means of a prospectus supplement
and accompanying prospectus, forming a part of the effective
registration statement. The prospectus supplement and accompanying
prospectus related to the offering were filed with the SEC and are
available on the website of the SEC at http://www.sec.gov.
Electronic copies of the prospectus supplement and accompanying
prospectus also may be obtained from Maxim Group LLC, 405 Lexington
Avenue, 2nd Floor, New York,
NY 10174, at 212-895-3745.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Interpace Diagnostics Group, Inc.
Interpace provides clinically useful molecular diagnostic tests
and pathology services for evaluating risk of cancer by leveraging
the latest technology in personalized medicine for better patient
diagnosis and management. The Company currently has three
commercialized molecular tests: PancraGen®, for the evaluation of
pancreatic cysts and assessment of risk of concomitant or
subsequent cancer; ThyGenX®, for the diagnosis of thyroid cancer
from thyroid nodules utilizing a next generation sequencing assay;
and ThyraMIR®, for the diagnosis of thyroid cancer from thyroid
nodules utilizing a proprietary gene expression assay. Interpace's
mission is to provide personalized medicine through molecular
diagnostics and innovation to advance patient care based on
rigorous science.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995, relating to the Company's
future financial and operating performance. The Company has
attempted to identify forward looking statements by terminology
including "believes," "estimates," "anticipates," "expects,"
"plans," "projects," "intends," "potential," "may," "could,"
"might," "will," "should," "approximately" or other words that
convey uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are based on current
expectations, assumptions and uncertainties involving judgments
about, among other things, future economic, competitive and market
conditions and future business decisions, all of which are
difficult or impossible to predict accurately and many of which are
beyond the Company's control. These statements also involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results to be materially different from those
expressed or implied by any forward-looking statement. Known and
unknown risks, uncertainties and other factors include, but are not
limited to, the Company's ability to adequately finance the
business, its ability to restructure its debt and other
obligations, the market's acceptance of its molecular diagnostic
tests, its ability to secure additional business and generate
higher profit margins through sales of its molecular diagnostic
tests, in-licensing or other means, projections of future revenues,
growth, gross profit and anticipated internal rate of return on
investments and our ability to maintain our NASDAQ listing.
Additionally, all forward-looking statements are subject to the
risk factors detailed from time to time in the Company's filings
with the SEC, including without limitation, the Annual Report on
Form 10-K filed with the SEC on March 30,
2016, as amended on April 29,
2016 and June 14, 2016, the
Quarterly Report on Form 10-Q filed with the SEC on November 17, 2016, and the prospectus
supplement and accompanying prospectus related to the offering that
was filed with the SEC. Because of these and other risks,
uncertainties and assumptions, undue reliance should not be placed
on these forward-looking statements. In addition, these statements
speak only as of the date of this press release and, except as may
be required by law, the Company undertakes no obligation to revise
or update publicly any forward-looking statements for any
reason.
CONTACTS:
Victor Roberts
RedChip Companies
407.644.4256, ext. 111
victor@redchip.com
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SOURCE Interpace Diagnostics Group, Inc.