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The decline reflects a drop off in sales of its ColonSentry colorectal cancer blood test and other diagnostics.
GeneNews has signed a binding agreement with multinational private equity firm Milost Global for up to $10 million in equity and debt financing.
The company signed a US partnership agreement for its portfolio of early cancer detection tests with lab testing services provider Any Lab Test Now.
The company will pay nearly $2.1 million to the liquidating trust for the now-bankrupt HDL in order to resolve outstanding debt from a former joint lab venture.
The Toronto company raised C$721,000 of its previously announced offering that targeted up to C$3 million.
GeneNews' early patient risk stratification tests for colorectal, lung, and prostate cancers will be offered to patients at NueHealth's provider-owned care centers.