MissionIR's  Instablog

Send Message
We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices. It is our unwavering commitment to connect the investment community with companies that have great potential and a strong dedication to... More
My company:
My blog:
MissionIR Blog
  • Response Genetics, Inc. (RGDX) Raises Over $7 Million In Financing 0 comments
    Feb 3, 2012 2:34 PM | about stocks: RGDX

    Response Genetics, Inc. recently announced that it has, through purchase agreements with investors, raised more than $7.8 million from the private placement of approximately 5,300,000 newly issued shares of common stock. The purchase price for the stock was $1.50 per share, significantly higher than market price before the deal was publicly announced.

    Founded in 1999, Los Angeles-based Response Genetics is focused on the production of molecular diagnostic tests for cancer; the company's products are able to test genetic material harvested from tumor samples. Response also offers its pharmaceutical testing of clinical trial specimen services to the industry in general.

    Signing of the purchase agreements took place on February 1, with new investors making up the bulk of the financing; final closing of the shares is anticipated to take place on or before February 6.

    Thomas Bologna, CEO of Response Genetics, said, "We are very pleased with this financing. One of the first things we wanted to do was to strengthen our balance sheet, which we've accomplished. We plan to use the proceeds to help us move forward in strengthening and building our business."

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: RGDX
Back To MissionIR's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.