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financial results

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 company reported total revenues of RMB123.9 million ($18.2 million) for the quarter, driven largely by growth in its central laboratory business.

Though its point-of-care revenues fell, the firm's clinical laboratory sales for the third quarter rose 44 percent over the prior-year quarter

The company said that it has received CE marks for two additional SARS-CoV-2 tests, including one that detects the virus and influenza A/B.

Life science product revenues nearly doubled, offsetting a continuing slide in the firm's diagnostics revenues.

For the three months ended Sept. 30, the firm said that total revenues fell to $1.2 million from $1.3 in the year-ago quarter with OVA1 volumes essentially flat.

Despite the dramatic growth in overall testing revenue, the company's core oncology testing revenue dropped significantly quarter-over-quarter.

The company beat the consensus Wall Street estimate on the top line but narrowly missed it on the bottom line. 

The firm said that overall cartridge volumes in Q3 were back at pre-pandemic levels, and that it is on track to achieve targeted 30 percent growth for full-year 2020.

A negative preliminary decision regarding reimbursement for the company's flagship colon cancer screening test in the US remains an issue for the company.

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