strategic alternatives

The firm had received interest from unnamed potential acquisition partners following the departure of its CEO, but it has decided to remain as a standalone business.

The company is delaying the publication of its business and financial update for the first half of 2019 to allow for an ongoing review by its auditors.

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.