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The firm also said it is contemplating selling its therapeutics division, and appointed David Bench as its new CFO.

The German company reported its quarterly earnings for the first time as a public company, following the completion of its IPO on Nov. 7.

Yourgene said it continues to consider additional acquisition opportunities to enhance its earnings and to acquire complementary technologies.

The firm's diagnostics and genomics group saw a 5 percent year-over-year revenue increase in the fourth quarter.

The company also said that it expects a clearance decision from US regulators in the near term on a lower respiratory tract infection test that runs on its Unyvero system.

The firm attributed the decline to reluctance of US customers to buy additional units of its Epi proColon colon cancer test amid reimbursement uncertainty.

The company incurred a net loss of $5.2 million, or $.10 per share, slightly exceeding the $.09 per share loss that analysts had predicted on average.

The company signed a distribution agreement in Japan for its Idylla products and also initiated a listing of €150 million in unsecured convertible bonds.

The German molecular diagnostics firm is preparing for its merger with US-based OpGen, which is slated to close in the first quarter of next year.

The new name better reflects its business model combining MDx testing with the drug discovery and development services business it acquired from Cancer Genetics.

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