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The drop in CGI's third quarter revenues reflect declines across the company's biopharma, clinical, and discovery services units.
The deal covers Cancer Genetics' microarray-based Tissue of Origin test, which analyzes 2,000 individual tumor genes to help identify a tumor's origin.
The probes are for use in Cancer Genetics' FISH-based HPV-Associated Cancer Test, which measures genomic changes to help triage cervical cancer patients.
The deal will join CGI's portfolio of cancer tests and lab services with NovellusDx's technologies for cancer treatment response prediction.
The company is continuing to work with a financial advisor to evaluate strategic options, with discussions about potential transactions ongoing.
The increase was drive by revenue growth in Cancer Genetics' discovery services unit, which included the impact of recently acquired CRO VivoPharm.
The firm is selling BioServe to Reprocell as part of Cancer Genetics' transformation and strategic plan to bring itself to profitability.
Near-term, the firm is focused on its cost structure and growing its top line with a view to becoming profitable, according to its interim CEO.
The test is designed to identify a tumor's tissue of origin by assessing 2,000 individual genes and covers 15 common tumor types.
The lawsuits allege the company made false and/or misleading statement and/or failed to disclose information that was pertinent to investors.