Trovagene Expects Gross Proceeds Of $35 Mln. From Public Offering

(RTTNews) - Trovagene Inc (TROV), a developer of cell-free molecular diagnostics, on Friday announced the pricing of an underwritten public offering of 4 million shares of its common stock.

The company said gross proceeds from this offering are expected to be $35 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

The offering is expected to close on or about July 22.

Trovagene said it has also granted to the underwriters a 30-day option to purchase from it up to an additional 600,000 shares of its common stock.

The company said it intends to use the net proceeds from this offering to fund its research and development activities and for working capital and other general corporate purposes.