NEW YORK (GenomeWeb) – Epigenomics on Thursday lowered its revenue guidance for 2017 to a range of between €1 million ($1.1 million) and €1.5 million from a previous guidance of about €2.5 million.
The firm attributed the change to lower-than-expected revenues for the first half of the year, about €500,000, and added that it anticipates a continued lack of reimbursement coverage for the rest of the year in the US. In May the firm reported a 5 percent drop in revenues for the first quarter.
The previous month, Epigenomics announced it agreed to a public takeover offer from Blitz F16-83, a subsidiary of Chinese private equity firm Cathay Fortune International. The company did not provide an update on the deal.