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Unilabs will perform the test in Switzerland and offer it throughout its network of clinical labs in Europe, including France, the UK, Sweden, and other countries.

The company said the dramatic increase was driven by a one-time buy-out of patents related to colorectal cancer by Exact Sciences.

The company's validation studies demonstrate that the assay has a 99 percent negative predictive value, which it believes will persuade physicians of its value.

The company has contracted IPS Genomix to distribute the SelectMDx test in Lebanon, Egypt, the UAE, Saudi Arabia, Oman, Bahrain, Qatar, and Jordan.

Under the terms of the deal, MDxHealth and QUT will evaluate and develop the test, which will evaluate abnormal DNA methylation changes.

The company reported a 128 percent jump in revenues for the period on a 25 percent increase in test volume.

The company will continue to work with Maastricht University researchers to develop genetic and epigenetic cancer diagnostics.

The company, which beat Wall Street expectations on the top and bottom lines, said completed Cologuard test volume rose 150 percent over Q1 2016.

MDxHealth will use Ghent's methylation in situ hybridization technology to develop tests for urological cancers.

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