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The firm said that due to a negative coverage decision and capital constraints, it is evaluating options including a sale by a public takeover or an asset deal.
The final decision includes some changes, most notably removing requirements for guideline inclusion, but retains its technical performance benchmarks.
The proceeds of the bond are going to support the firm's operations as it awaits a final Medicare coverage decision on its colon cancer test.
A negative preliminary decision regarding reimbursement for the company's flagship colon cancer screening test in the US remains an issue for the company.
The firm's US clinical trials came to a standstill in the second quarter, affecting its post-approval study for the Epi proColon colorectal cancer liquid-biopsy test.
The company experienced a drop-off in orders for its Epi proColon colon cancer test by US customers due to reimbursement uncertainty.
For full-year 2019, the company reported total revenues of €1.1 million, down 27 percent year over year mainly due to a decrease in licensing revenue from China.
News items for the in vitro diagnostics industry for the week of April 13, 2020.
The government payor is interested in public input on the evidence underlying the blood-based PCR test.
The firm attributed the decline to reluctance of US customers to buy additional units of its Epi proColon colon cancer test amid reimbursement uncertainty.