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Oncology diagnostics developer Accustem Sciences (OTCQB:ACUT) has filed to uplist its shares to Nasdaq and lift $11M.
Accustem mentioned in a submitting that it was seeking to supply 1.5M shares on the assumed worth of $7.44, which might possible change. Underwriters can be given a 45-day possibility to purchase as much as 222K extra shares. Think Equity is serving as lead bookrunner.
The firm intends to checklist its shares on Nasdaq underneath the image ACUT. Its shares presently commerce OTC underneath the identical image. Accustem additionally plans to conduct a 1-for-6 reverse inventory break up forward of the deal.
Based in New York, Accustem is creating genomic checks for most cancers. Its lead product, StemPrintER, is used to foretell the chance of distant recurrence for individuals with ER+/HER2- breast most cancers.
The firm just isn’t but producing income and reported a internet lack of $2.8M for the nine-month interval ended Sept. 30. It first introduced plans to uplist in November, indicating it was in search of to boost $10M.
Accustem is the third biotech firm this week to file for an offering, following Mineralys Therapeutics (MLYS) and Squarex Pharmaceuticals (SQRX). On Friday, Cadrenal Therapeutics (CVKD) held its IPO, elevating $7M.
