Additionally, Cancer Genetics noted that last week it sold off its clinical laboratory business to siParadigm, a specialty reference laboratory, for about $1 million.
Interpace Diagnostics' ThyGeNext and ThyraMir thyroid cancer assays are now covered for about 2.5 million patients in Philadelphia and Southeastern Pennsylvania.
The firm said its growth was driven in part by increasing sales volumes of its gastrointestinal PancraGen business and endocrine ThyGeNext/ThyraMir business.
With the approval of its ThyraMIR diagnostic assay, the firm said that physicians will have access to its thyroid product suite across several specimen types.
For full-year 2018 the firm's revenues rose 38 percent to $21.9 million from $15.9 million a year ago.
A brief recap of Diagnostics news the week of Feb 1, 2019: Ambry Genetics, Quotient, Angle, PathAI, C2N Diagnostics, Interpace Diagnostics
The firm will use the proceeds for working capital, capital payments, business development, research and development payments, and technology and business acquisitions.
The company beat the consensus Wall Street estimate on the top line and guided to 2018 revenues of between $21 million and $22 million.