Third party reports are also surfacing claiming that the company’s former esoteric darling, GenPap, was in fact a test that was simply bought and used under license from a Korean company, Seegene. GenPap’s growth has fallen off, giving way to GeneDx as the company’s main esoteric testing driver. We believe GeneDx is difficult to collect on and is part of the culprit behind the company’s margin and cash flow pressure.
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