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Stock Market & Financial Investment News

News Breaks
January 16, 2014
07:15 EDTTBIOTransgenomic board approves reverse stock split ratio
Transgenomic, announced that it has filed an application for listing its common shares on the NASDAQ. The company's proposed listing on the NASDAQ is subject to review by NASDAQ and dependent upon the company meeting all relevant quantitative and qualitative listing criteria of NASDAQ. The company believes it currently meets all of NASDAQ's eligibility requirements with the exception of the minimum bid price requirement, which will be addressed by a reverse split of the company’s common stock. In addition Transgenomic also announced that its board has approved a 1-for-12 reverse split of its issued and outstanding shares of common stock, with a planned effective date of January 27. After giving effect to the reverse stock split, every 12 shares of the company's issued and outstanding common stock will automatically be combined into one share of the company's issued and outstanding common stock. After the reverse split, the number of shares outstanding will be reduced from approximately 88.3M shares to approximately 7.4M shares. In connection with the reverse split, stockholders will not receive fractional post-reverse stock split shares. Instead, holders will receive cash in lieu of fractional shares.
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June 22, 2015
07:06 EDTTBIOTransgenomic plans to launch six new genetic cancer tests this year
Transgenomic announced that it is planning to launch up to six new genetic cancer tests this year based on its Multiplexed ICE COLD-PCR, or MX-ICP, technology. The new tests will focus on actionable genetic mutations and alterations in patients with melanoma, non-small cell lung cancer, or NSCLC, and colorectal cancer, and will include both single tests and multi-gene panels. Transgenomic’s MX-ICP technology has demonstrated exceptional sensitivity and accuracy using either standard tissue or liquid biopsy samples such as blood and plasma. The tests are expected to be available for diagnostic use through Transgenomic’s CLIA-certified laboratory. “We are ahead of schedule in commercializing our pipeline of laboratory-based cancer tests to meet the growing demand for targeted and personalized cancer treatments,” said Paul Kinnon, president and CEO of Transgenomic. “The unsurpassed accuracy of our Multiplexed ICE COLD-PCR technology and its ability to produce highly sensitive and accurate results from small amounts of virtually any type of patient sample enable its broad use for tumor detection and monitoring. The fact that MX-ICP is a platform technology is also facilitating the rapid development of our pipeline. We intend to release two or three new single and panel tests per quarter for the remainder of this year, focusing on the two most prevalent cancers--colorectal and lung, as well as melanoma, which is especially amenable to targeted therapies.”

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