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The company said it will use proceeds from the round, which was led by Casdin Capital, to expand and commercialize its SomaScan platform and SomaSignal tests.
The FDA also reissued Emergency Use Authorizations for SARS-CoV-2 tests from Roche and Express Gene to reflect their permitted use with additional sample types.
The ELISA-based test has shown 98.8 percent sensitivity and 99.6 percent specificity for detecting SARS-CoV-2 specific IgG against two virus antigens.
News items for the in vitro diagnostics industry for the week of Nov. 23, 2020.
The xT platform integrates structured clinical patient data with results from a 648-gene DNA panel and whole-transcriptome RNA sequencing.
The investment bank said it expects demand for Fulgent's COVID-19 testing to decline over the next two years.
Cepheid said that the 4-in-1 test runs on any of almost 30,000 GeneXpert Systems, which provide results in approximately 36 minutes.
Under the terms of the agreement, OpGen would sell $10 million in stock and warrants to a US-based healthcare-focused institutional investor.
For the three months ended Oct. 31, revenues rose to $1.48 billion from $1.37 billion in Q4 2019, beating the average Wall Street estimate of $1.4 billion.
The Warsaw, Poland-based firm has secured nearly €20 million ($23.7 million) this year to advance its PCR One point-of-care molecular diagnostic system.