The alliance will combine the two firms' technologies and know-how to provide doctors with insights into patients' health status.

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 firm's net loss grew year over year and it missed the consensus Wall Street estimates on the top and bottom lines. 

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 has started a clinical validation study for a PSA test running on the Claros 1 platform and expects to file for a PMA later this year.

Executives provided updates on their companies at the 35th Annual JP Morgan Healthcare Conference in San Francisco.

Around 16,000 4Kscore prostate cancer tests were performed in Q3, which is a 365 percent increase over Q3 2015.