Cancer Genetics surges as co seeks strategic alternatives

Vyant Bio

20/11/2019 14:41

** Diagnostic co's  CGIX.O  shares more than double to $4.8
- set for their best day ever
    ** Stock one of the top pct gainer across all exchanges 
    ** CGIX says it has retained H.C. Wainwright to explore
strategic alternatives for future merger, sale of other assets,
or other strategic transactions 
    ** Co received about $9.1 mln in cash in Q3 after selling
its biopharma business and its clinical laboratory business 
    ** "We believe the company is in a good position to explore
further strategic initiatives as well as to grow the remaining
Discovery Services business" - CGIX
    ** Co also posts Q3 profit of 98 cents per share vs. loss of
$9.34, a year earlier, helped from divestiture of its two
operating units
    ** More than 1 million shares traded, 4 times their 25-day
moving avg
    


 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 0647;))