The company will use the net proceeds to finance its current operations and expand its US commercialization capacities for its lead product, Epi proColon.
The drop off was attributed to unusually high revenues in Q2 2016 after a commercialization partner stocked up on Epigenomics' colon cancer test.
The change comes amid lower than expected revenues for the first half of this year, as well as an anticipated continued lack of reimbursement coverage in the US.
The company attributed the revenue decline to the conclusion of agreements with licensing partners for the sale of its products.
The revenue increase was driven by a 41 percent rise in product sales.
The company has agreed to a takeover bid that values it at roughly €171 million ($186.3 million).
VA patients will now have access to Polymedco's colorectal cancer screening products, including the Epigenomics Epi proColon.
The qPCR-based test was shown to differentiate cancerous and non-cancerous tissue and predict biochemical recurrence, and can be used on small, degraded samples.
The revenue increase was driven by increased sales of Epigenomics recently approved colorectal cancer screening test Epi proColon.
Two researchers, who have both received grants from Epigenomics, noted in a JAMA letter that the USPSTF did not use data on the FDA-approved version of the test.
Using DNA to sketch crime victims might not be a great idea, the NYTimes says.
Science has its own problem with sexual harassment. What do we do with the research these abusers produce, Wired asks.
Senate Republicans led by Senator Rand Paul (R-KY) are trying to change how the government funds basic research, reports ScienceInsider.
In Science this week: combining genomics and ecology to better understand the effects of natural selection on evolution, and more.