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Natera has entered the oncology space with a ctDNA assay and sees its blood banking service as a way to eventually tap into the consumer genomics space.
The drop off was attributed to unusually high revenues in Q2 2016 after a commercialization partner stocked up on Epigenomics' colon cancer test.
The firm's revenues related to the transfer of IP dropped 58 percent year over year, while service revenues declined 3 percent, and product revenues rose 27 percent.
While the company reported an increase in revenues from biopharma partners, this gain was more than offset by lower consumable sales.
The increase in overall fourth quarter sales was due to contributions from new products in the company's portfolio.
NanoString also beat analyst estimates on the top and bottom lines, and upped its revenue guidance for the year based primarily on collaboration revenues.
Natera ran 17 percent more tests in Q2 than it did in the prior-year period, generating $53.6 million in total revenues.
The company said it established a joint venture in China during the quarter in order to offer genetic testing services in that country.
The firm said that it is delaying clinical trials prior to its FDA submission of Verigene 2 for several reasons, including reducing cassette failure rates.
The firm posted revenues of $14.3 million for the three-month period ended June 30, compared with $5.6 million for the second quarter of 2016