Another Hop Target 3.05

NASDAQ:PROG   Progenity, Inc
Progenity (PROG) said Tuesday the US Patent and Trademark Office has issued a patent for assessment of preeclampsia using assays for free and dissociated placental growth factor, or PIGF.

The biotechnology company's chief scientific officer, Matthew Cooper, said the patent protection is important as the company pursues partnership opportunities to commercialize the Preecludia test.

The Preecludia rule-out test for preeclampsia has the potential to help healthcare providers evaluate patients who have signs and symptoms of possible preeclampsia, the company said.

Target : $3. 05
Comment: Today
Trade active: Progenity (PROG) shares were down almost 8% in Monday afternoon trading after the biotechnology company announced an agreement with various institutional investors for the buying and selling of nearly 13.3 million common stock shares in a registered direct offering at $1.50 per share.

The offering, which will likely yield gross proceeds of nearly $20 million, is expected to close around Oct. 6, with proceeds due to be allocated for facilitating operations, investment in research and development and for working capital and general corporate purposes.

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Comment: 111% GAIN
Trade closed: target reached: See you in another Trade ...

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