Total revenue for the quarter was $85.5 million compared to $82 million in Q2 2016, while net loss shrank to $2.7 million or $.08 per share.
The test, developed with Pfizer, could identify renal cancer patients who would experience recurrence, but not who would benefit from adjuvant Sutent.
The company will return both a genomic prediction of disease aggressiveness and a read on 10-year risks for metastasis and for disease-specific mortality.
The company missed analyst estimates on the top line but beat the bottom line with growth in prostate cancer and international breast cancer test sales.
The Medicare contractor proposed coverage for several cancer assays, but would not cover molecular respiratory virus assays or a test for inflammatory bowel disease.
In a note to investors, the investment bank said the company is going through a transition phase, and has limited potential for near-term upside.
The company plans to use proceeds to advance its lead AR-V7 test with Genomic Health, accelerate other assays in its pipeline, and enhance its technology.
Gencurix aims to achieve US FDA 510(k) clearance for its GenesWell BCT breast cancer prognostic test next year.
The company beat the consensus Wall Street estimate for the fourth quarter on the bottom line but missed the estimate on the top line.
The company expects Medicare coverage for its test to extend to intermediate prostate cancer patients this year, and it believes new data will help drive increased adoption.