By Judy Newman, Wisconsin State Journal
Exact Sciences Corp. plans to sell another 7 million to 8 million shares of common stock to expand its operations and finance product development.
No target price is listed in the prospectus filed with federal regulators Tuesday, so it’s not clear how much money could be raised.
The company’s town of Madison lab can process about 1 million tests a year; Exact is looking into the possibility of doubling capacity there, the prospectus says. It also says Exact is “evaluating options for a second lab facility to add capacity in excess of 2 million tests per year.” Exact said in April it expects to complete 470,000 tests this year. Read more …