The company said the decrease was partially due to the impact on its clinical services business unit from the adoption of new revenues recognition standards.
The biological activity sensors in development consist of nanoparticles conjugated with a peptide substrate produce fluorescence in urine associated with immunotherapy response.
Efforts highlighted at last week's AACR meeting included new efforts to advance gene expression signatures, improve PD-L1 tests, and calculate MSI across tumor types.
The companies will combine their respective technologies to create a biomarker and companion diagnostic development service for pharmaceutical customers.
The firm said revenues from its precision oncology business increased 98 percent in Q4, driven by higher testing volume and increased revenue per test.
In data presented at the ESMO annual meeting, the test showed some ability to distinguish between patients who responded to nivolumab and those who did not.
The test will be based on MRM Proteomics' immunoMALDI approach, which uses antibody enrichment of target proteins followed by analysis via MALDI mass spec.
