Exact Sciences is significantly boosting its coffers as it continues pushing sales of its first molecular diagnostic test and goes to work developing more products.
Madison, WI-based Exact (NASDAQ: EXAS) said it expects to earn about $174 million this week in a stock offering, after deducting expenses and underwriting discounts. Exact sold 7 million shares of its common stock to underwriters Jefferies and Robert W. Baird & Co. at a price of $25 per share. The underwriters then turned around and sold those shares on the open market at an initial price of $25.50 per share. The offering is expected to close tomorrow, Exact said in an SEC filing today.
Help employers find you! Check out all the jobs and post your resume.
