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Trovagene

The firm announced a 14 percent drop year-over-year in fourth quarter revenues and plans to reduce personnel and other costs to support development of a precision drug it has licensed.

The distributors will promote Trovagene's clinical test services, and will also gain access to the research-use kits the firm is co-developing with Boreal Genomics.

The company believes that the reduction in staff and marketing costs for its testing services will reduce its annual pre-tax expenses by about $4 million.