As the firm continues to move toward commercialization of its test, its loss dropped to $3.8 million, or $.12 per share, from $4.7 million, $.16 per share, in the same period last year.
Presentations largely reflected negatively on the utility of PD-L1 for stratifying response, but pivotal new data on tumor mutational burden as assessed by Foundation Medicine's genomic sequencing panel.
The lawsuits allege the company made false and/or misleading statement and/or failed to disclose information that was pertinent to investors.
The firm is in the midst of evaluating its strategic options and has hired Raymond James to assist in the process, which could include the sale of the firm, it said.
The company's net loss climbed about 30 percent to $4.0 million for Q4 2017, and reached $19.4 million for the full year.
The company has highlighted the study as evidence that its test would outperform Roche's FDA-approved liquid biopsy assay if implemented in the clinic.
The lab, which serves hospitals in India and surrounding countries, will use Precipio's ICE COLD-PCR technology to offer blood-based mutation tests.
The privately held Cambridge, UK-based company announced earlier this month that it had raised an additional £11 million to support the commercialization of its platform.
The financing will be used by the company to bring its breath-based diagnostic technology to market, fund clinical trials, and grow its precision medicine services.
The company plans to launch an RNA sequencing-based test to help subtype and determine treatment for thyroid cancer, and a test to detect noninvasive lung cancer.