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news.Response Genetics, a developer and marketer of molecular diagnostic tests for cancer, has announced a $2 million private placement.
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The company has entered into a purchase agreement with certain affiliated funds of Special Situations Funds to raise $2 million from the private placement of two million newly issued shares of its common stock, at a purchase price of $1 per share.
According to the company, the closing of the sale of the shares is expected to occur on March 2, 2009.