Cancer Genetics, Inc.NASDAQ
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  • Aug. 10, 2015, 10:13 AM
    • Cancer Genetics (CGIX +5.2%) enters into an agreement in principle to act as a "stalking horse" and acquire all the assets and operations of Response Genetics (RGDX -48.7%) for $14M, $7M in cash and $7M in CGIX stock.
    • The deal will add $10M - 12M in revenue to CGI's top line over the next 12 months and more than double its clinical revenue base. As part of the transaction, Response has filed a voluntary petition under Chapter 11 of the Bankruptcy Code in the Delaware Bankruptcy Court.
    • A "stalking horse" bid under the U.S. Bankruptcy Code means other parties have the opportunity to submit competing offers. CGIX is entitled to a break-up fee and expense reimbursement if it does not prevail in its bid. The acquisition agreement in principle remains subject to finalization within seven days of Response's Chapter 11 filing.
    | Aug. 10, 2015, 10:13 AM | 1 Comment
  • Jul. 21, 2014, 9:59 AM
    • Cancer Genetics (CGIX +3.8%) acquires privately-held Gentris Corp.,  a provider of genomic testing and pharmacogenomics services to biotech/pharma companies. Gentris will add $5M - 6M in top line revenue and contract backlog of over $18M. Financial terms are not disclosed.
    | Jul. 21, 2014, 9:59 AM
  • Jun. 23, 2014, 10:16 AM
    • Cancer Genetics (CGIX +0.3%) signs a non-binding Letter of Intent to acquire privately-held Gentris Corp. for $4.75M ($3.25M in cash plus $1.5M in CGIX stock). Additional performance-based earnouts could add another $1.5M.
    • Gentris provides pharmacogenomics, genotyping and biorepository services to the pharmaceutical and biotech industries.
    | Jun. 23, 2014, 10:16 AM | 1 Comment
  • May 15, 2014, 1:39 PM
    • Investors in thinly traded nano cap Cancer Genetics (CGIX -14.7%) react to the dilutive nature of its acquisition of Hyderabad, India-based BioServe Biotechnologies for $1.9M in CGIX stock and other deferred consideration.
    • BioServe's post-transaction name will be Cancer Genetics India Pvt. Ltd. The 33-employee firm provides genomic services including next-gen sequence genotyping and DNA synthesis.
    • Management expects the transaction to be accretive in 2015.
    | May 15, 2014, 1:39 PM