The firm attributed the decline to reluctance of US customers to buy additional units of its Epi proColon colon cancer test amid reimbursement uncertainty.
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.
Epigenomics terminated a licensing contract related to Chinese distribution rights for its Septin9 biomarker and Epi proColon colorectal cancer blood test.
Epigenomics terminated its collaboration with China's BioChain for the licensing of the septin9 marker and exclusive Chinese distribution rights for Epi proColon.
The firm has struggled in the past to convince payors of its test's clinical utility but remains dedicated to convincing the field that Epi proColon can help patients by closing CRC screening gaps.
The German molecular diagnostics firm recently completed a capital increase with subscription rights for existing shareholders, grossing €22.3 million.
