financial results

The firm said its growth was driven in part by increasing sales volumes of its gastrointestinal PancraGen business and endocrine ThyGeNext/ThyraMir business.

The embattled company saw its net loss narrow during the first quarter, in part due to a new policy of giving away fewer nonreimbursed GPS Cancer and Liquid GPS molecular test orders than in the past.

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 company's first quarter revenues were driven by sales of its noninvasive prenatal screening and carrier screening tests.

While the company's product and product-related revenues rose 54 percent, its collaborative development program revenues fell 78 percent.

The revenue increase was driven primarily by an increase in the sale of consumable test kits, and the firm added 75 commercially contracted instruments during Q1.

The company posted Q1 revenues of $12.3 million, up from $7.5 million in Q1 2018 and above the consensus Wall Street estimate of $10.2 million.

The company reaffirmed its full fiscal year 2019 comparable, currency-neutral revenue guidance, and updated its adjusted diluted EPS guidance.

The firm reported declines in revenues from its molecular collections systems, genomics products, and infectious disease tests, but still beat analyst estimates.