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Oncology diagnostics developer Accustem Sciences (OTCQB:ACUT) has filed to uplist its shares to Nasdaq and lift $11M.
Accustem mentioned in a submitting that it was seeking to supply 1.5M shares on the assumed value of $7.44, which might doubtless change. Underwriters can be given a 45-day choice to purchase as much as 222K further shares. Assume Fairness is serving as lead bookrunner.
The corporate intends to listing its shares on Nasdaq beneath the image ACUT. Its shares at present commerce OTC beneath the identical image. Accustem additionally plans to conduct a 1-for-6 reverse inventory cut up forward of the deal.
Primarily based in New York, Accustem is creating genomic checks for most cancers. Its lead product, StemPrintER, is used to foretell the chance of distant recurrence for individuals with ER+/HER2- breast most cancers.
The corporate will not be but producing income and reported a internet lack of $2.8M for the nine-month interval ended Sept. 30. It first introduced plans to uplist in November, indicating it was looking for to lift $10M.
Accustem is the third biotech firm this week to file for an providing, following Mineralys Therapeutics (MLYS) and Squarex Prescribed drugs (SQRX). On Friday, Cadrenal Therapeutics (CVKD) held its IPO, elevating $7M.
