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In Brief This Week: SpeeDx, SQI Diagnostics, Grail, and More

NEW YORK (360Dx) – SpeeDx said this week that its PlexPCR RespiVirus test has received regulatory clearance from the Australian Therapeutic Goods Administration. The assay uses PlexPCR technology to detect 11 viral respiratory illness-causing pathogens including influenza A, influenza B, rhinovirus, respiratory syncytial viruses (A and B), human metapneumovirus, adenovirus, and human parainfluenza viruses 1, 2, 3, and 4.

SQI Diagnostics said this week that its revenues rose 238 percent to C$419,000 (US$311,273) in its fiscal second quarter from C$176,000 a year ago. Recurring kit sales for the three months ended March 31, were C$287,000 compared to C$88,000 a year ago.

The firm noted that recurring kit sales came from two commercial product launches in fiscal 2018. A third product was validated and delivered to its direct-to-consumer customer in fiscal Q1 2019.

For fiscal Q2, the firm recorded a net loss of $1.6 million, or $.01 per share, compared to a net loss of $1.6 million, or $.01 per share, in the prior-year quarter.

SQI's R&D spending was up 1 percent year over year to C$927,000 in Q2 2019 from C$916,000. Its SG&A costs rose 6 percent to C$748,000 from C$705,000.

The company finished Q2 2019 with C$1.5 million in cash and C$501,000 in restricted cash.

Grail announced this week that the US Food and Drug Administration has granted breakthrough device status to the firm's multi-cancer test. Grail is developing its investigational liquid biopsy for early detection of cancer in people aged 50 or older.

Quest Diagnostics this week announced a quarterly cash dividend of $.53 per share, payable on July 22 to shareholders of record on July 8.

Ghent University said this week that it has signed a three-year collaborative agreement with Stilla Technologies for training, research, and exploration of novel applications of digital PCR. The partners plan to offer dPCR users hands-on training courses, webinars, and seminars in on dPCR. They're also aiming to optimize and validate assays based on Stilla's Naica dPCR system for a broad range of experiments and provide a platform for users to validate their samples on the Naica system with the help of dPCR experts from the university. The Naica system offers multiplexing to detect multiple target genes in a single assay with high precision and accuracy.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on 360Dx.