Interpace Diagnostics Announces Proposed Public Offering of Common Stock
January 24 2019 - 4:35PM
Interpace Diagnostics Group, Inc. (Nasdaq: IDXG) (“Interpace” or
the “Company”) announced today that it intends to offer and sell
shares of its common stock in a registered underwritten public
offering. In addition, Interpace also intends to grant the
underwriter a 30-day option to purchase additional shares of its
common stock equal to 15% of the shares to be sold in the offering
to cover over-allotments, if any. The offering is subject to market
and other conditions, and there can be no assurance as to whether
or when the offering may be completed, or as to the actual size or
terms of the offering.
H.C. Wainwright & Co. is acting as the sole
book-running manager for the offering.
Interpace intends to use the net proceeds of the
offering for working capital, capital expenditures, business
development and research and development expenditures, and
acquisition of new technologies and businesses.
The securities described above are being offered
under the Company’s shelf registration statement on Form S-3 (No.
333-227728), including a base prospectus, previously filed with and
declared effective by the U.S. Securities and Exchange Commission
(SEC). The securities will be offered by means of a preliminary
prospectus supplement and accompanying prospectus, forming a part
of the effective registration statement. The preliminary prospectus
supplement and accompanying prospectus related to the offering will
be filed with the SEC and will be available on the website of the
SEC at http://www.sec.gov. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus also may be
obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New
York, NY 10022, email: placements@hcwco.com. Before you invest, you
should read the preliminary prospectus supplement and the
accompanying prospectus in that registration statement and other
documents Interpace has filed or will file with the SEC for more
complete information about Interpace and the offering.
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. Any offer, if at all, will be made only by
means of the prospectus supplement and accompanying prospectus
forming a part of the registration statement.
About Interpace Diagnostics Group,
Inc.
Interpace is a fully integrated commercial and
bioinformatics company that provides clinically useful molecular
diagnostic tests and pathology services for evaluating risk of
cancer by leveraging the latest technology in personalized medicine
for improved patient diagnosis and management. The Company
currently has four commercialized molecular tests and one test in a
clinical evaluation process (CEP); PancraGEN® for the diagnosis and
prognosis of pancreatic cancer from pancreatic cysts; ThyGeNEXT™
for the diagnosis of thyroid cancer from thyroid nodules utilizing
a next generation sequencing assay; ThyraMIR® for the diagnosis of
thyroid cancer from thyroid nodules utilizing a proprietary gene
expression assay; and RespriDX™ that differentiates lung cancer of
primary vs. metastatic origin. BarreGEN® for Barrett's Esophagus,
is currently being “soft launched” with key opinion leaders as we
continue to gather data on this assay that will assist us in
seeking favorable reimbursement as well as important clinical
information. Barrett's Esophagus is a rapidly growing diagnosis
that affects over three million people in the US and over time can
progress to esophageal cancer. The Company’s data base includes
data from over 50,000 patients who have been tested using the
Company’s current products, including over 25,000 molecular tests
for thyroid nodules. Interpace has been designated by the 2018
edition of CIO Applications as one of the top 10 companies for
providing bioinformatics solutions. Interpace’s mission is to
provide personalized medicine through molecular diagnostics,
innovation and data to advance patient care based on rigorous
science. For more information, please visit Interpace’s website at
www.interpacediagnostics.com.
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, 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, market conditions and the satisfaction of customary
closing conditions related to the offering, the Company’s history
of losses, the Company's ability to adequately finance the
business, the market's acceptance of its molecular diagnostic
tests, its ability to retain or secure reimbursement, 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 its
ability to maintain its NASDAQ listing. Additionally, all
forward-looking statements are subject to the “Risk Factors”
detailed from time to time in the Company's SEC filings, including
its Annual Report on Form 10-K for the fiscal year ended December
31, 2017, filed on March 23, 2018, Quarterly Reports on Form 10-Q
and other SEC filings that Interpace may make with the SEC in the
future. 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:
Interpace Diagnostics Investor Relations Joseph Green
646-653-7030 jgreen@edisongroup.com
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