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.
A man has confessed to the rape and murder of developmental biologist Suzanne Eaton, according to the New York Times.
The Irish Times reports that US lawmakers and law enforcement agencies are concerned about ties between the US and Chinese genomics firms.
Parents of children with spinal muscular atrophy tell the Washington Post they are pushing to get insurance coverage of Novartis's Zolgensma.
In PNAS this week: gene mutations in individuals with syndromic craniosynostosis, putative colorectal cancer drivers, and more.