restructuring

The restructuring and job cuts are expected to save the firm more than $70 million annually. 

Qiagen's revenues grew 6 percent at constant exchange rates to $349.0 million, besting the average Wall Street estimate of $346.6 million.

The company said that it is extending the maturity of certain obligations under the terms of the acquisition deal until March 2019.

After a 54 percent quarter over quarter rise in sales of the test, Rosetta's CEO said that the realigned strategy will take the firm to profit more quickly. 

As part of the deal with an institutional investor, Interpace's royalty and milestone obligations will also be terminated. 

The company will pay nearly $2.1 million to the liquidating trust for the now-bankrupt HDL in order to resolve outstanding debt from a former joint lab venture.

As part of a restructuring and cost reduction plan the firm also reduced the principle of its 2016 convertible note by about half.

The moves are part of an effort to consolidate and reduce costs related to administrative, finance, and operational support functions.

The firm will provide product enhancement and clinical lab services, including comprehensive tumor profiling using proprietary cell-based products and services.

The company reported drops in revenues for both its human health and environmental health units, blaming challenging market conditions for the decreases.