Trovagene,Inc. (NASDAQ:TROV) Files An 8-K Other Events
Item 8.01 Other Events.

On June 20, 2017, Trovagene, Inc.  (the “Company”) received a Notice of Event of Default (the “Equipment Notice”) from Silicon Valley Bank (“SVB”) with respect to that certain Loan and Security Agreement in the aggregate principal amount of $1.4 million dated as of November 17, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Equipment Loan Agreement”), between SVB and the Company.  The Equipment Notice stated that Events of Default had occurred and are continuing under Sections 8.2(a) (Covenant Defaults) (as a result of violations of Section 7.1 and 7.2), Section 8.3 (Material Adverse Change), Section 8.6 (Other Agreements) and Section 8.8 (Misrepresentations) of the Equipment Loan Agreement. The Equipment Loan Agreement is substantially similar to the Loan Agreement by and among Oxford Finance LLC, SVB and the Company which also was the subject of a Notice of Event of Default on June 1, 2017 and was disclosed on Form 8-K dated June 7, 2017. Both Notices of Event of Default are substantially similar, except that the Equipment Notice further stated that “SVB intends to monitor the default situation very carefully and will decide in their sole discretion on a “day-by-day” basis whether or not to exercise rights and remedies.”

About Trovagene, Inc. (NASDAQ:TROV)

Trovagene, Inc. (TrovaGene) is a molecular diagnostic company. The Company focuses on the development and commercialization of a molecular diagnostic technology for use in disease detection and monitoring across a range of medical disciplines. Its primary internal focus is to leverage its cell-free molecular diagnostic platform to facilitate improvements in the field of oncology, while its external focus includes entering into license agreements or collaborations to develop its technology in areas, such as infectious disease, transplant medicine and prenatal genetics. It has ongoing clinical collaborations to demonstrate the ability to determine and monitor mutational status and response to therapy in lung, colon, pancreatic and skin cancer. It uses its molecular diagnostic technology for the detection of cell-free deoxyribonucleic acid (DNA) originating from diseased cell death that can be isolated and detected from urine, blood and tissue samples to develop disease management.

Trovagene, Inc. (NASDAQ:TROV) Recent Trading Information

Trovagene, Inc. (NASDAQ:TROV) closed its last trading session down -0.11 at 1.03 with 5,255,079 shares trading hands.