Cancer Trial Developer Accustem Seeks Nasdaq Listing, Offers $10 Million (OTCMKTS:ACUT)
Cancer diagnostics developer Accustem Science (OTCQB:ACUT) filed to list its shares on Nasdaq and raised its proposed $10 million through a public offering.
Accustem does not specify in its profile quantity and price share it plans to offer, but is indicated in the attached application fee schedule that it is seeking about 10 million dollars.
The diagnostic company’s shares are currently traded OTC with the symbol ACUT. The company hopes to list them on Nasdaq under the same logo.
The company added that it may conduct a reverse stock split before the deal. Think Equity is acting as the main book seller.
Based in New York, Accustem’s flagship product, StemPrint ER, is used to predict the risk of distant recurrence in patients with ER+ HER2- breast cancer. The company said it plans to launch the product after it establishes a commercial lab and receives a US regulatory license for testing, a process it expects to take at least 18 months. .
When there were no products on the market, Accustem operated at a loss. For the nine-month period ended September 30, Accustem reported a net loss of $2.8 million and no revenue.
In September, Accustem announced that it had received a US patent for the StemPrint ER test.