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The firm's labs services revenues were unchanged, but it saw a slight increase in sales mainly from higher oncology revenue and grants.
The kits are based on the company's ICE-COLD PCR technology and enable the detection of genetic mutations in any type of sample.
The deal marks the latest in a string of agreements Transgenomic has signed for its non-core assets as it focuses on ICE-COLD PCR molecular diagnostics.
The company will offer the shares for sale on the Nasdaq through banking firm Craig-Hallum Capital Group.
The company attributed the sales drop to the phasing of contracts due to client sample availability issues, but said the effect will likely be transitory.
Results from a recent study clarify some conflicting prior determinations, and provide a new rationale to further explore the FCGR2A biomarker in prospective trials.
The stock exchange has told the company that it is has failed to comply with the minimum stockholders' equity requirement for continued listing.
The company has been refocusing on its ICE-COLD PCR molecular diagnostic offerings, divesting a number of businesses that had generated most of its revenues.
The decision to halt the lab's operations stems from the firm's ongoing efforts to focus its resources on its ICE-COLD PCR molecular diagnostics technology.
Nasdaq said the firm is not in compliance with the $1.00 minimum bid price required for continued listing for the 30 consecutive business days leading up to Feb. 23.
Nature News writes that additional details about the UK plan for an agency to support high-risk, high-reward science are needed.
The New York Times reports that the US Food and Drug Administration has authorized Johnson & Johnson's SARS-CoV-2 vaccine.
The Wall Street Journal writes new studies are giving glimpses into the origins of SARS-CoV-2.
In PLOS this week: analysis of Plasmodium population structure, qPCR assay to diagnose scabies, and more.