Analyst Research Report Snapshot

Title:

Capital Raise to Accelerate Proprietary Test Growth

Price:

$10.00

Provider:

RedChip Companies, Inc.

Date:

21 Oct 2013

Pages:

18

Type:

AcrobatPDF

Companies referenced:

CGIX.OQ

Available for Immediate Download
Summary:

On October 8, 2013, CGIX filed an S-1 to raise up to $46 million in common stock. We view this as positive, as a large capital raise would provide funds that can be used to accelerate growth of CGIX's proprietary genomic tests, leading to increased revenue and potentially reducing the time needed to reach profitability. With a larger cash reserve, CGIX can accelerate investment in sales and marketing, achieving faster market penetration and expand geographic coverage to establish a national footprint. Establishing a national footprint enables CGIX to better compete with Foundation Medicine (FMI), as CGIX can offer a more complete set of oncology Dx services than FMI.

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