The researchers aimed to develop a test that could help clinicians determine whether a patient would respond to therapy, before the onset of treatment.
The firm, which is working to reaccelerate its test validation effort, incurred a loss of $5.4 million, or $.10 per share, slightly above the analysts' consensus estimate.
Buoyed by a 26 percent increase in test volume, the firm's revenues were $1.2 million for the quarter, compared to $822,000 last year.
The company is forging ahead with its Signatera liquid biopsy circulating tumor DNA minimal residual disease (MRD) test and Prospera transplant assessment assay.
The company is on track to submit Guardant360 to the FDA in the third quarter, but also expects to see pan-cancer reimbursement much sooner.
The firm will begin a verification study later this month using its cell-sorting platform and molecular analysis tool on patients with a pelvic mass scheduled for surgery.
The company sold nearly twice as many tests as in Q2 last year, with clinical test revenue more than doubling and total revenue reaching $54 million for the quarter.
The firm noted that in the quarter, the US Food and Drug Administration granted Breakthrough Device designation for its exosome-based liquid biopsy test.
Biocartis' Idylla called some colorectal cancer samples negative that Sysmex Inostics's OncoBEAM called positive, but the clinical implications may be complex.
The Cyprus-based company has been offering a cell-free DNA-based noninvasive prenatal test for fetal aneuploidies, called Veracity, since 2015.
The firm believes that physicians can use information from the cell-free DNA analyzed by the assay to determine whether to use anti-EGFR drugs during treatment.
The team believes users could apply the technology, combined with a predictive risk score, to complement imaging tools to screen for cancers in the clinical space.
Financial analysts seemed convinced of the long-term advantages of the deal but noted that investors may remain skeptical in the near term.
Cyclomics, a 2018 spinout from University Medical Center Utrecht, is testing its assay for treatment response and recurrence monitoring in head and neck cancer.
Labs in China can now use the Cobas EGFR Mutation Test v2 with either tissue or plasma samples as a CDx for three Roche oncology drugs in NSCLC patients.
The firm will use the proceeds to continue developing its Proteograph platform, build its proteomic database, and develop liquid biopsy products for early disease detection.
The company will market Inivata's InVision liquid biopsy assays to insured and self-pay patients across the region.
The British team believes its classifier can identify men who will need treatment within five years, minimizing the need of repeated checkups for low-risk patients.
An increased blood-to-stool ratio in the concentration of bacterial short-chain fatty acids marked higher permeability in the intestinal wall.
Guardant told a federal judge that it believes Foundation Medicine and Personal Genome Diagnostics are coordinating to invalidate its patents.