Stock Alert: Cancer Genetics Shares Skyrocket 213% In Early Trade

(RTTNews) - Shares of Cancer Genetics Inc. (CGIX) are soaring over 213% in pre-market today, after the company announced a definitive merger agreement with StemoniX Inc.

CGIX has been trading in the range of $1.92 - $9.50 for the past one year, and closed Friday's trade at $2.91, down 15 cents or 4.90%. The stock is currently trading at $9.12, up $6.21 or 213.40% in the pre-market session Monday.

StemoniX, a private company, develops high-throughput disease-specific human organoid platforms integrated with leading-edge data science technologies. Under the terms of the merger agreement, StemoniX would merge with a newly formed subsidiary of Cancer Genetics in an all-equity transaction.

Upon shareholder approval, the combined company expects to remain listed on the Nasdaq Stock Market. StemoniX would retain its name and become a wholly-owned subsidiary of Cancer Genetics.