Oncology startup Accustem Sciences (OTCQB: ACUT) has filed to list its shares on the Nasdaq and raised $10M in a public offering.
Accustem did not mention in writing the number and value of they share what they want to offer, but it’s reflected in the pay list they look at raise about $10M.
The diagnostics company’s shares are currently traded OTC under the symbol ACUT. The company hopes to list it on the Nasdaq under the same symbol.
The company added that it may redivide shares before the deal. Think Equity is working on a book guide.
Based in New York, Accustem’s lead product, StemPrint ER, is used to predict the risk of distant recurrence in ER+ HER2- breast cancer patients. The company said it plans to launch the product after establishing a commercial lab and obtaining US regulatory approval for testing, a process it expects to take 18 months.
With no products in the market, Accustem has been operating in the red. For nine months ended Sept. 30, Accustem reported a net loss of $2.8M without cash.
In September, Accustem announced that it had received US approval for its StemPrint ER test.