CombiMatrix | GenomeWeb

CombiMatrix

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.

The company's NGS-based PGS test will initially join, and eventually replace, its current array-based CombiPGS option, which it launched in 2014.

The company reported an 18 percent increase in the number of reproductive health tests completed during the quarter. 

The company feels it could be an attractive target for mergers, but is also keeping an eye out for IP acquisition options of its own.

The firm will offer 8,000 units of Series F convertible stock at $1,000 each, and plans to use the proceeds to repurchase and retire its Series E stock.

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