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Biocept Announces 16M Share Common Stock Offering To Be Priced At $0.41/Share

Biocept, Inc. (NASDAQ:BIOC) ("Biocept" or the "Company"), a leading commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the

Benzinga · 03/05/2020 13:33

Biocept, Inc. (NASDAQ:BIOC) ("Biocept" or the "Company"), a leading commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the outcomes of patients diagnosed with cancer, today announced that on March 4, 2020 it entered into a securities purchase agreement with several institutional investors for the issuance and sale of 16,000,000 shares of its common stock at a price of $0.41 per share, for aggregate gross proceeds of approximately $6.6 million, in a registered direct offering priced at-the-market under Nasdaq rules.  The Company currently expects that the proceeds from this registered direct offering, along with the approximate $9.2 million in gross proceeds from the Company's registered direct offering announced on March 2, 2020 and its current cash and cash equivalents, will be sufficient to fund its current operations through at least December 31, 2020.