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Aspira said it will bring its experience in patient sample recruitment and ovarian cancer assay development to the collaboration.
For the three months ended Sept. 30, the firm said that total revenues fell to $1.2 million from $1.3 in the year-ago quarter with OVA1 volumes essentially flat.
The company, formerly known as Vermillion, reported total revenues of $746,000 and product revenues of $743,000 with sales of 2,458 OVA1 tests.
Investors in the company, formerly known as Vermillion, have agreed to purchase $11 million in unregistered common stock at a price of $3.50 per share.
Revenues rose to $1.2 million on OVA1 test volumes of 3,654, up 58 percent from Q1 2019, as the company maintained growth despite the SARS-CoV-2 pandemic.
News items for the in vitro diagnostics industry for the week of April 13, 2020.
The company reported total revenues of $1.31 million, up from $922,000 in Q4 2018, and 3,854 OVA1 sales, up 93 percent from 1,996 a year ago.
The platform matches a patient's medical history and other data with national guidelines to recommended medically actionable genetic tests.
The company has seen a sharp rise in test revenues but still struggles with poor stock performance and could soon see new competition for OVA1.
The company posted $1.3 million in revenues with OVA1 test sales up 82 percent to 3,602 and revenue per test down 8 percent to $345.