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NantHealth

The firm posted total software-related revenues of $18.6 million, up 1 percent from $18.4 million in Q4 2019.

The health IT and precision oncology arm of Patrick Soon-Shiong's NantWorks conglomerate narrowed its quarterly net loss by 32 percent during the quarter.

NantHealth's net loss more than tripled in the second quarter, though it continues to build up its cash reserves.

Genos customers have until June 22 to dowload their exome and variant data from the Genos portal before it will no longer be accessible.

The company turned its first-ever quarterly profit after a series of asset sales and cutbacks in money-losing molecular tests. 

The company trimmed its net loss fell by three-fourths to $11.8 million in the quarter as it continues to rein in costs.

Recent studies question the clinical utility of tumor mutational burden as a biomarker for immuno-oncology response, and the FDA clearance includes no therapeutic indications.

The approval of its Omics Core assay for tumor-normal mutational profiling opens the door for payor reimbursement, which is key to reaching profitability, NantHealth said.

The company's software-related revenues grew year over year, but its sequencing and molecular analysis revenues declined.

NantHealth's net loss fell by 37 percent, to $14.7 million, as revenue from software-related revenue jumped by 23 percent while expenses fell.

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