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The funds will be used to support the molecular diagnostics company's growth strategy and for general corporate purposes, MDxHealth said.
The company said that contact between its sales reps and clinicians began to decline in March due to the COVID-19 pandemic, affecting mainly SelectMDx volumes.
Billable test volume for the company's ConfirmMDx prostate cancer test fell 5 percent year over year, but global volume for its SelectMDx test rose 61 percent.
The company said revenues declined primarily as a result of adjustments in accounts receivable, payor mix, and the timing of test kit collections.
A bi-weekly listing of recent local coverage determinations from Medicare Administrative Contractors.
The company said the money from the transactions will help it boost adoption of its ConfirmMDx and SelectMDx prostate cancer tests with urologists and payors.
For the six-month period ended June 30, the molecular diagnostic company's revenues fell to $10.9 million from $17.2 million in H1 2018.
A bi-weekly listing of recent local coverage determinations from Medicare Administrative Contractor Palmetto for the week of 8/22/2019.
For the three month-period ended March 31, the molecular diagnostics company's revenues fell to $4.7 million from $9.7 million in Q1 2018.
The company also reported higher operating costs due to an expansion of its US sales force, as well as its European commercial and laboratory staff.
New analyses indicate female researchers are publishing less during the coronavirus pandemic than male researchers, according to Nature News.
A study suggests people with the ApoE e4 genotype may be more likely to have severe COVID-19 than those with other genotypes, the Guardian says.
Direct-to-consumer genetic testing companies are searching for a genetic reason for why some people, but not others, become gravely ill with COVID-19, the Detroit Free Press reports.
In PNAS this week: forward genetics-base analysis of retinal development, interactions of T cell receptors with neoantigens in colorectal cancer, and more.