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NEW YORK (GenomeWeb) – NantHealth on Thursday announced it is laying off about 300 employees as part of a restructuring of its business.

The firm also reported a 17 percent drop-off year over year in revenues for the second quarter.

In a statement, the company said that the restructuring follows "a series of methodically analyzed actions, planned over the past nine months post initial public offering to focus on the business of its core competencies of artificial intelligence and be the leading cancer company driving 21st century delivery of care."

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