Precipio, Inc. — Director's Dealing 2011

Jan 10, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: TRANSGENOMIC INC (TBIO.OB)
CIK: 0001043961
Period of Report: 2010-12-29

Reporting Person: KIRK RANDAL J (10% Owner)
Reporting Person: Third Security Senior Staff 2008 LLC (10% Owner)
Reporting Person: Third Security Staff 2010 LLC (10% Owner)
Reporting Person: Third Security Incentive 2010 LLC (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Convertible Preferred Stock	$0		Common Stock (4137928)		Indirect
Warrant to Purchase Shares of Series A Convertible Preferred	$2.32	2015-12-28	Common Stock (2068964)		Indirect
Series A Convertible Preferred Stock	$0		Common Stock (4137928)		Indirect
Warrant to Purchase Shares of Series A Convertible Preferred	$2.32	2015-12-28	Common Stock (2068964)		Indirect
Series A Convertible Preferred Stock	$0		Common Stock (2068964)		Indirect
Warrant to Purchase Shares of Series A Convertible Preferred	$2.32	2015-12-28	Common Stock (1034480)		Indirect

Footnotes

F1: Not applicable

F2: Randal J. Kirk controls each of Third Security Senior Staff 2008 LLC, Third Security Staff 2010 LLC and Third Security Incentive 2010 LLC. Shares held by these entities may be deemed to be indirectly beneficially owned (as defined under Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended) by Mr. Kirk.

F3: Assumes conversion of shares of Series A Convertible Preferred Stock into Common Stock.

F4: Pursuant to its terms, each share of Series A Convertible Preferred Stock is convertible into four shares of Common Stock at a conversion price of $0.58 per share.

F5: Representing the per share price of each share of Series A Preferred Stock issuable upon exercise of the applicable Warrant, which such shares of Series A Preferred Stock are convertible in the manner described in Item 3 above.