The firm will expand on its MSI assay for use in immunotherapy while developing liquid biopsy assays to monitor patients post therapy and for recurrence.
The firm missed the consensus Wall Street estimate on the bottom line, even as its ePlex analyzer Q4 revenues more than doubled year over year to $12.1 million.
The company said test volume for its Cologuard colorectal cancer test rose 66 percent during the quarter to 292,000.
The firm's diagnostics and genomics group saw a 13 percent year-over-year revenue increase in the first quarter.
The firm said net product revenues fell 11 percent year over year in the fourth quarter.
Excluding a loss of business to LabCorp, total revenue increased 22 percent year over year in the fourth quarter, Luminex said.
Qiagen's Q4 revenues of $403.2 million fell short of the consensus analyst estimate though its adjusted EPS of $.40 was in line with Wall Street expectations.
Organically, the diagnostics segment was up 14 percent. Overall, the company's revenues grew 18 percent year over year during the quarter.
Within diagnostics, the firm posted molecular diagnostics revenues of $164.3 million, up 11 percent from $148.6 million in fiscal Q1 2018.
The firm has initiated measures to sharpen its focus on the business success of its Atellica Solution, which consists of immunoassay and chemistry analyzers.