The Board of Directors unanimously rejected a revised, non-binding acquisition proposal from the Radoff-JEC Group. The proposal offered $2.35 per share in cash plus a contingent value right. The Board concluded the offer significantly undervalues the company, noting the implied equity value is materially below the company's current cash, cash equivalents, and investments. The company continues to focus on its Proteograph Product Suite and expanding its footprint in the proteomics market.