financial results

The firm reported total revenues of $93.2 million, down from $215.4 million in fiscal Q4 2019 and short of the consensus Wall Street estimate of $93.9 million.

During the second quarter, the company performed 75,017 tests for noninvasive prenatal testing, carrier screening, and SARS-CoV-2.

The company, formerly known as Vermillion, reported total revenues of $746,000 and product revenues of $743,000 with sales of 2,458 OVA1 tests.

A partnership with Menarini Silicon Biosystems to market Menarini’s portfolio of COVID-19 related products was among its key quarterly milestones.

Although the firm has ramped up COVID-19 testing, its billable test volume and overall testing revenues both declined due to pandemic-related challenges to its core oncology business.

For the three months ended June 30, the Tucson, Arizona-based firm's revenues fell to $2.0 million from $5.8 million in the same period the year before.

The firm reissued its full-year guidance and said it expects to sell 60 instruments in the US  for the remainder of the year.

The immune sequencing firm also provided an update on the development of its ImmunoSeq Dx clinical product for detecting prior infection with SARS-CoV-2.

The skin cancer diagnostics company said it delivered 19 percent fewer DecisionDx-Melanoma test results in Q2 2020 than in the previous year's second quarter.