You may find more results for this query on our sister sites: GenomeWeb and Precision Oncology News.
The firm said that its molecular diagnostics sales growth in the quarter was negatively impacted by non-governmental organization purchasing patterns in Africa.
Product sales from OEM customers were up 28 percent, while product sales from direct customers and distributors increased 27 percent, and other revenues grew sharply.
The firm said its growth was driven in part by increasing sales volumes of its gastrointestinal PancraGen business and endocrine ThyGeNext/ThyraMir business.
The liquid biopsy firm beat analyst estimates on the top and bottom lines and raised full-year revenue guidance to $145 to $150 million.
The firm reported declines in revenues from its molecular collections systems, genomics products, and infectious disease tests, but still beat analyst estimates.
The company reported $26 million in total revenues for the quarter and said that testing services revenues more than doubled year over year.
The firm said that it placed about 50 sample-to-answer molecular systems under contract during Q1, and it had about 625 active sample-to-answer product customers.
Its product revenues were up 30 percent year over year, but research revenues decreased 89 percent. The firm posted $329,000 in grant contribution revenues.
Its CEO Bernd Montag said that measures taken to ensure a successful market launch of the Atellica Solution showed an impact in the second quarter.
Within diagnostics, molecular revenues were up 11 percent year over year to $167.8 million. The firm received two new CE marks for early infant diagnosis and testing dried blood spots.