Cancer Genetics plunges on deep-discounted stock deal

Vyant Bio

29/10/2020 13:52

** Cancer Genetics Inc  CGIX.O  shares down 33.5% to $2.26
after co prices stock offering
    ** Shares on track for biggest one-day % drop since Dec 2018
    ** Diagnostics firm sells 1.4 mln shares at $2.20, raises $3
mln for working capital and general corp purposes  urn:newsml:reuters.com:*:nGNX13q2jj
    ** Deal prices at 35% discount to stock's Weds close
    ** H.C. Wainwright sole bookrunner
    ** CGIX has 2.5 mln shares outstanding and 2.4 mln shares of
free float, per Refinitiv data
    ** With drop on Thurs, stock down ~62% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))