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NantHealth's net loss more than tripled in the second quarter, though it continues to build up its cash reserves.

Although its research test volume decreased significantly because of the COVID-19 pandemic, the company saw revenue growth across both clinical testing and development services.

The Beijing-based company, which went public in the US in June to raise $235.0 million, specializes in genomic products and services for cancer.

The company missed analyst estimates on the top line and provided guidance for its full fiscal year 2020 revenues to decrease 2.5 to 3.0 percent as reported.

The firm said declines across most business areas were slightly offset by increases in sales of sample collection devices.

Revenue growth in Q2 was driven by strong sales of the company's Panorama noninvasive prenatal test and Horizon carrier screening test.

Company officials credited investments in information technology, as well as R&D for RT-PCR-based tests, with driving up the firm's billable testing numbers.

The firm generated $46.2 million in revenues compared to $53.5 million in the prior year, which was better than analysts' estimate of $39.6 million.

The genetic testing company said its orders for traditional tests have also rebounded and are on track for growth in the second half of 2020.

GenMark has two SARS-CoV-2 tests that have received FDA Emergency Use Authorization, including a respiratory panel that tests for 21 pathogens.

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