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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.
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.
The Washington Post reports that Herbert Tabor, who worked at the US National Institutes of Health for 77 years, has died at 101.
The World Bank is seeking approval for a $12 billion plan to provide low-income nations with funds to procure SARS-CoV-2 vaccines, according to Reuters.
Science writes that public health officials and others are debating whether cycle threshold values should be included on SARS-CoV-2 results.
In Nucleic Acids Research this week: online database of SARS-CoV-2 protein structures, atlas of the human brain, and more.