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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.
The company attributed the revenue decline to a 96 percent drop in licensing revenues, which more than offset a 36 percent increase in product sales.
During its earnings call this week, the liquid biopsy firm said it is planning a 10,000-patient trial to test its Lunar assay for colorectal cancer screening.
The revenue increase was driven by a jump in sales of products including the company's flagship Epi proColon blood-based colorectal cancer screening test.
The company attributed the revenue decline to lower licensing revenue following a recent patent out-licensing.
Epigenomics terminated a licensing contract related to Chinese distribution rights for its Septin9 biomarker and Epi proColon colorectal cancer blood test.