Response Genetics announces direct offering, shares rise

|About: Response Genetics, Inc. (RGDX)|By:, SA News Editor

Shares of Response Genetics (RGDX +9.3%) are enjoying a strong session.

In a regulatory filing (8-K), the company said it has entered into an agreement with institutional investors for the sale of 902,835 shares of common stock at $2.05/share.

Gross proceeds to the company are expected to be ~$1.9M and will be used to "expedite the integration of the recently acquired proprietary FDA-cleared and Medicare-reimbursed Tissue of Origin test." (PR)

More on the acquisition here