CombiMatrix

The release of the financial results comes just days after molecular diagnostics firm Invitae announced it will acquire CombiMatrix.

Invitae is interested in companies that can contribute positively to its revenues in the next two to three quarters, according to CEO Sean George. 

The acquisitions will enable Invitae to add reproductive health genetic testing to its portfolio and become what it calls a "comprehensive genomic information company." 

The firm noted that its reproductive health test sales were up 32 percent year over year to $2.9 million, while volume for such tests were up 15 percent.

The firm reported $3.5 million in revenue for the three months ended Dec. 31, 2016, and $12.9 million for the full year.

The company can now market the test in New York, in addition to other areas of the country where it has already made the assay available.

The firm reported 29 percent growth in its overall testing revenues, driven mainly by higher reproductive test volume and higher per-test revenue.

CombiMatrix said the move will increase access to the test in the state for women experiencing recurrent pregnancy loss.

The company said its total test volume went up 7 percent during the quarter, including a 9 percent increase in the number of reproductive health tests performed.

The company's testing was successful in more than 90 percent of cases over almost four years, and detected a wide variety of abnormalities.

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