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Shares of Illumina fell in afternoon trading on the Nasdaq following a brief rise after the market open.

The increased forecast is the result of continuing COVID-19 testing volumes along with recovery in its breast and skeletal business, Hologic said.

The company is selling 4,166,666 shares of its common stock at a price of $60 per share in the offering, which is expected to close Sept. 15.

Florida's largest county joins several major California counties in deploying Fulgent Genetics' PCR-based COVID-19 tests in a drive-through setting.

The firm also announced that all of its coronavirus tests would return additional results for Influenzas A and B by the end of September.

Of the 28 companies in the index, 12 firms saw their stock prices increase, while 16 firms' share prices decreased. 

While the market ditched shares of many other diagnostics firms, analysts said the reaction was overblown, particularly in the case of Quidel and molecular diagnostics players.

The deal consists of cash, Bionano common stock, and assumption of liabilities. Bionano has also paid off $1.1 million loaned to Lineagen under the CARES act.

The investment banking firm forecast Fiscal Year 2021 revenues of $235.6 million, higher than the consensus Wall Street estimate of $178.4 million.

The organization had previously only recommended the use of noninvasive prenatal testing in individuals 35 and older or with other known risk factors.