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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.

Farsight Genome Systems is touting the rapid scalability of its analytic pipeline as it seeks to make its technology "future-proof" for clinical genomics labs.

Chugai, a member of the Roche Group, has already filed for regulatory approval of FoundationOne CDx with Japan's Ministry of Health, Labor, and Welfare.

The companies also agreed to establish a working group to explore the development of standard formulas and definitions for the validation of genomic profiling assays.

The company plans to grow its business based on the FDA approval and preliminary national coverage determination for its FoundationOne CDx test last year. 

Foundation Medicine will provide genomic profiling for the EORTC's Screening Patients for Efficient Clinical Trial Access program.

The company beat analyst estimates on both the top and bottom line and reported a 50 percent year over year growth in clinical testing volume in Q3.

The company said the revenue decline was expected and related to the timing of R&D projects with biopharmaceutical partners.

More than a third of the first 10,000 patients receiving MSK-IMPACT harbored actionable mutations, and 11 percent of the first 5,000 enrolled in a clinical trial. 

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