Progenity, Inc. (Nasdaq: PROG) announced its participation in two virtual investor conferences. A pre-recorded presentation at H.C. Wainwright’s 23rd Annual Global Investment Conference will be available on their website from 7 a.m. ET on September 13, 2021, accessible for 90 days. Additionally, Progenity will present at Baird’s 2021 Global Healthcare Conference live at 7:55 a.m. ET on September 15, 2021. Both events can be viewed in the Investors section on Progenity's website.
Progenity specializes in women’s health, gastrointestinal health, and oral biotherapeutics, employing a multi-omics approach in their innovative solutions.
Progenity, Inc. (Nasdaq: PROG) has successfully closed its public offering of 40,000,000 shares of common stock and warrants at $1.00 per share, raising approximately $37.1 million in net proceeds after offering expenses. The warrants, with a $1.00 exercise price, are immediately exercisable and will expire in five years. Additionally, underwriters have a 30-day option for an extra 6,000,000 shares and have partially exercised this option for 1,932,000 warrants. This offering was facilitated by H.C. Wainwright & Co.
Progenity, Inc. (Nasdaq: PROG) priced its underwritten public offering of 40 million shares and warrants for 40 million shares at $1.00 each. This offering is expected to generate approximately $40 million in gross proceeds, excluding underwriting fees. The warrants, also priced at $1.00, are immediately exercisable and expire in five years. The offering is set to close around August 24, 2021, pending customary conditions, with H.C. Wainwright acting as the sole book-running manager. Progenity has granted a 30-day overallotment option for an additional 6 million shares and/or warrants.
Progenity, Inc. (Nasdaq: PROG) announced its intention to conduct an underwritten public offering of its common stock and accompanying warrants. The offering is contingent on market conditions and may vary in size and terms. H.C. Wainwright is the sole book-running manager for the offering. Progenity plans to utilize the net proceeds for operational support, research and development in women's health diagnostics, and general corporate purposes. The registration statement for the offering was filed with the SEC on July 30, 2021, and effective since August 6, 2021.
Progenity has successfully completed the PRO-104 validation study for its Preecludia™ preeclampsia test, achieving the primary endpoint. The company implemented cost-saving measures expected to save around $97 million annually. Financial results for Q2 2021 show a net loss of $78.5 million and an increase in operating expenses to $36.1 million. Progenity has initiated preclinical studies for its oral biotherapeutics candidates, demonstrating a promising average bioavailability of 15%, with peaks reaching 44% for adalimumab.
Progenity, Inc. (NASDAQ: PROG) will announce its second quarter 2021 financial results on August 12, 2021, after market closure. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results and provide a corporate update. Investors can participate via phone or through an online webcast available on Progenity's investor relations page. The company focuses on innovations in gastrointestinal health, applying a multi-omics approach to improve diagnostic precision and patient outcomes.
Progenity, Inc. (Nasdaq: PROG) announced the successful validation of its Preecludia™ test for preeclampsia, achieving the primary endpoint in a study with over 1,300 participants. This test aims to accurately determine the risk of preeclampsia and has the potential to transform maternal healthcare, targeting a market worth up to $3 billion in the U.S. The company plans to launch the test domestically and explore global opportunities as part of its strategic transformation.
Progenity, Inc. (Nasdaq: PROG) appointed Surbhi Sarna to its board of directors effective July 1, 2021. Sarna, known for her medical device expertise, founded nVision Medical and led its innovative ovarian cancer detection technology to acquisition by Boston Scientific. CEO Harry Stylli emphasized her strategic insight as beneficial for advancing Progenity's drug discovery and delivery systems. Sarna's experience in developing FDA-approved technologies is expected to support Progenity's diagnostic and therapeutic initiatives aimed at transforming gastrointestinal disease management.
Progenity, Inc. (Nasdaq: PROG) has established an Inflammatory Bowel Disease (IBD) Clinical Advisory Board comprising eminent researchers to guide its therapeutics and diagnostics pipeline. This strategic move aims to enhance the development of drug-device combination products targeting ulcerative colitis, a segment of the $15 billion IBD market. Key members of the board include Dr. William Sandborn, Dr. Geert D’Haens, Dr. Bruce Sands, and Dr. Séverine Vermeire. Their expertise is expected to refine clinical strategies, with clinical trials for lead candidates PGN-001 and PGN-600 anticipated in 2022.
Progenity, Inc. (Nasdaq: PROG) announced that CEO Harry Stylli will participate in a fireside chat at the virtual Raymond James 2021 Human Health Innovation Conference on June 22, 2021, at 10:40 a.m. ET. The event will be accessible via a live webcast on the company's investor relations webpage. Progenity, a biotech company, focuses on gastrointestinal health and oral biotherapeutics, utilizing a multi-omics approach to enhance diagnostics and targeted therapies for better patient outcomes.