Trovagene

The firm announced a 14 percent drop year-over-year in fourth quarter revenues and plans to reduce personnel and other costs to support development of a precision drug it has licensed.

The distributors will promote Trovagene's clinical test services, and will also gain access to the research-use kits the firm is co-developing with Boreal Genomics.

The company believes that the reduction in staff and marketing costs for its testing services will reduce its annual pre-tax expenses by about $4 million.

The companies will co-develop kits, which Trovagene will distribute globally, to analyze ctDNA from blood or urine using next-generation sequencing platforms.

The increase was driven by higher demand for its diagnostic services related to its line of blood- and urine-based assays for the detection of cancer-associated genetic mutations.

The large-scale study is designed to advance personalized medicine for pancreatic cancer to help meet the organization's goal of doubling patient survival rates by 2020.

The in-network agreement gives the health plan's 8 million members access to Trovagene's full menu of liquid biopsy tests.

Trovagene posted Q2 revenues of $104,000 compared to $50,000 in Q2 2015, missing the Wall St. estimate of $270,000.

The company continues to build evidence for the added sensitivity offered by its urine- and blood-based liquid biopsy approach in an effort to engage clinicians.

The collaboration will develop a clinical framework for deploying the Trovera liquid biopsy tests and general best practices for urine-based liquid biopsies.

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