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Signal Genetics

Privately held Miragen will pick up Signal's Nasdaq listing, and the combined company is scheduled to begin trading today.

As of Nov. 21 the company evidenced a closing bid price of its common stock in excess of the $1 minimum requirement for at least 10 consecutive trading days.

The combined company will be focused on Miragen's microRNA therapeutics programs, following the divestiture of Signal's molecular diagnostic assets.

Revenue from tests billed for clinical patients rose 93 percent year over year, the firm said, though its net loss widened to $2.8 million.

The company said sales of its MyPRS test for myeloma risk increased during the quarter, but full-year 2015 revenues fell because of increased R&D costs.

The study will evaluate Signal's MyPRS test for stratifying patients at risk of developing symptomatic multiple myeloma.

The deals with Stratose, USA Managed Care Organization, and Evolutions Health Systems provides covered access to the test to more than 21 million patients.

 

The partners will run several studies to validate the use of the MyPRS test in informing disease management in patients with multiple myeloma and its precursors.

The company's revenues fell as test orders from its primary customer dropped 22 percent, a trend it said is expected to continue. 

The firm's MyPRS multiple myeloma prognostic assay will be available to 22 million patients across the US covered by America's Choice Provider Network.

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