The firm's revenues related to the transfer of IP dropped 58 percent year over year, while service revenues declined 3 percent, and product revenues rose 27 percent.
Under today's deal, all of UC Health's medical centers will work with GeneDx and have access to more than 400 of the firm's tests for rare hereditary disorders.
Along with Exact, Natera and Qiagen saw sharp spikes in their stock prices, while Invitae and Opko Health each saw their share prices drop by more than 20 percent.
The company awaits a decision from Medicare contractor Novitas, which issued a positive LCD in 2016 but withdrew it in response to a negative LCD from Palmetto.
The firm said that during the quarter, service revenues from its BioReference Laboratories business increased by $12.8 million compared to the year-ago period.
The company, which is part of Opko Health's BioReference Laboratories, recently hired a new managing director, who plans to expand the firm's market and testing portfolio.
