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Interpace Diagnostics

For the three months ended Dec. 31, 2019, the firm's revenues fell to $4.1 million from $5.8 million in 2018, widely missing the analysts' average estimate of $10.8 million.

The company recently changed its name from Interpace Diagnostics as it expands its focus to include drug discovery and development services.

As part of the collaboration, UNC will use the firm's BarreGen assay to target molecular changes to predict resistance or relapse following ablation.

The Parsippany, New Jersey-based firm expects to expand relationships with multiple biopharmaceutical companies after bolstering its biopharma services business. 

The new name better reflects its business model combining MDx testing with the drug discovery and development services business it acquired from Cancer Genetics.

Cancer Genetics announced its planned merger with NovellusDx in September 2018, but scuttled the deal with the Israeli company a few months later.

The firm said that the second tranche is part of the financing provided by Ampersand Capital for the $23.5 million acquisition of Cancer Genetics' biopharma business earlier this year.

When used together, ThyGeNext and ThyraMir combine next-generation sequencing of an individual's DNA and RNA along with a microRNA classifier.

Interpace Diagnostics subsidiary Interpace BioPharma will perform services worldwide, while Genecast will offer the services in China.

The company missed the analysts' average estimates on the top and bottom lines, but it raised its full-year 2019 revenue guidance.

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