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The infectious disease diagnostics firm added it secured seven new contracts during the fourth quarter.
The company said that it expects its fourth quarter revenues will be up as much as 380 percent over the year-ago quarter.
The company said that EPS for next year is anticipated to be between $3.50 and $3.60. On an adjusted basis, EPS is expected in the range of $4.25 to $4.35.
The company said the revenue growth was largely due to double-digit growth in its clinical labs business.
The firm's CEO said it is experiencing a strong commercial launch of its CODX Molecular Diagnostics System, not yet reflected in its reported revenues.
The company attributed the drop in revenue to delays in some placements of its Unyvero molecular diagnostic system.
The company attributed the decline in revenues to changes it is making in the billing process for its diagnostics.
The company said the planned commercial launch of its noninvasive lung cancer diagnostic has been delayed due to technical issues during the test's validation process.
In the third quarter, the firm inked a new lease agreement and completed its initial public offering, receiving aggregate net proceeds of $23.3 million.
The company's ThyGenX and ThyraMir tests are designed for the diagnosis of thyroid cancer in patients with indeterminate thyroid nodules.