The company's clinical services revenues were down 34 percent year over year while product revenues ticked up 7 percent.
The firm is selling BioServe to Reprocell as part of Cancer Genetics' transformation and strategic plan to bring itself to profitability.
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 said that an effort by a group of shareholders to oust the company's management may impact the strategic review process.
The company said it is considering all transactions that would boost shareholder value including a merger or sale of its assets.
NEW YORK (GenomeWeb) – Nanosphere said after the close of the market on Thursday that it is exploring potential strategic alternatives and has hired Jefferies as an advisor.
NEW YORK (GenomeWeb News) – Sequenom said after the close of the market on Monday that its board has authorized a "review of potential strategic alternatives" for its Genetic Analysis segment.
NEW YORK (GenomeWeb News) – Multiplex instrument developer Axela today announced the hiring of investment bank AmeriTech Advisors to explore strategic opportunities for the firm.
By a GenomeWeb staff reporter
NEW YORK (GenomeWeb News) – SQI Diagnostics today said that it has established a special committee to review strategic alternatives for the firm, which could include a possible merger or sale.
The nonprofit Biden Cancer Initiative is suspending its operations, according to the Associated Press.
Researchers examine how white nationalists handle personal genetic ancestry results that conflict with their racist worldview, the New York Times reports.
NPR speaks with research participants before and after they learn their APOE E4 status, which affects their risk of developing Alzheimer's disease.
In PLOS this week: genetic characterization of Toxoplasma gondii strains, Crimean-Congo Hemorrhagic Fever Virus uncovered in Sudan, and more.