Avantra was founded last year by Courtagen Capital Group to commercialize the assets of Decision Biomarkers, a protein biomarker technology firm that shuttered its business and filed for Chapter 7 bankruptcy in December 2009.
The firm's revenues were aided by a $116.6 million contribution from Olympus Diagnostics, which the firm bought last year. It missed analysts' estimates and offered a disappointing forecast, sending its shares down sharply.
Last year, the consortium, which involves researchers, funding agencies, and industry representatives from Canada, Chile, and Norway, awarded a $6 million contract to Beckman Coulter Genomics for the first phase of the project, which uses Sanger sequencing.
Beckman Coulter's shares dropped around 7 percent after the firm disclosed that an ongoing issue surrounding its troponin test kits could lead to further restrictions on the test and may have a material impact on its results.