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The company said that its Diagnostics and Genomics segment posted 18 percent growth driven by sales of RNAscope RNA in situ hybridization detection products.

The firm's molecular solutions revenues increased 79 percent to $31.7 million due to COVID-19 testing demand.

The firm said that its molecular diagnostics revenues grew almost fivefold year over year, based on strong global demand for its SARS-CoV-2 molecular assays.

The firm also more than tripled its product sales year over year, and its CEO said he considered the quarter to be "transformational."

The firm's revenues in Asia were up compared to a year ago, but the coronavirus pandemic drove down revenues in the US, Europe, and the rest of the world.

Veracyte reported total Q3 revenues of $31.1 million compared to $31.0 million in Q3 2019, beating analysts' average of $23.9 million.

Of the 32 companies in the index, 14 firms saw their stock prices increase, while 18 firms' share prices decreased. 

Quotient recorded a $7.5 million milestone payment in the quarter from Ortho Clinical Diagnostics as part of the companies' restructured distributor arrangement.

The firm's CFO Jochen Schmitz said the upside from COVID-19 testing only partly compensated for a steep decline in reagent volumes used in routine care testing.

Quidel expects to launch at least four new products over the next year and commented on its overall COVID-19 strategy, as well as R&D plans, M&A possibilities, and other updates.

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