The company said proceeds will accelerate the ongoing FDA registrational study of its blood-based colorectal cancer screening test and further its extended pipeline.
The firm said its genetic tests for breast, prostate, and colorectal cancers and melanoma assess a patient's personal cancer risks and guide personalized prevention.
The firm's US clinical trials came to a standstill in the second quarter, affecting its post-approval study for the Epi proColon colorectal cancer liquid-biopsy test.
The company was able to ramp up recruitment for its pivotal ECLIPSE trial after hurdles caused a falloff during the earlier months of the COVID-19 pandemic.
The company believes the pandemic will accelerate the adoption of its cancer diagnostics as patients and doctors look for faster and more convenient tests.
The firm reported that revenues from screening products fell 34 percent year over year, but that it took in $34.6 million in revenues from COVID-19 testing.
Most of the disease risk carriers identified in the Healthy Nevada Project did not meet clinical guidelines for screening, according to the new analysis.
The researchers said their new study supports the clinical utility of their test, which combines genomic and drug screening analyses of organoids to guide cancer treatment.
The publisher of the Science family of journals will allow some authors to place peer-reviewed versions of their papers into publicly accessible repositories.
