A study of 10 commercial labs offering NIPT in the US found that none followed all recommendations for reporting results and informing patients and providers.
The company's revenues in the quarter rose to $221.9 million from $161.0 million in Q4 2017, but it missed the consensus Wall Street estimate of $245.3 million.
BioReference Laboratories — which is already an in-network lab with Horizon BCBS — said that the preferred lab status includes its GeneDx subsidiary.
BioReference Lab's GenPath division will notify treating oncologists when a genomic alteration is detected that matches an NCI-MATCH treatment arm.
The company's net loss for the quarter decreased to $6.2 million, or $.01 per share, compared to a net loss of $16.9 million, or $.04 per share, a year ago.
Seventeen organizations don't support the Diagnostic Accuracy and Innovation Act as written and would like lawmakers to advance a CLIA-centric framework.
Service revenues were down 8 percent year over year, product revenues grew 26 percent, and revenues from the transfer of intellectual property inched up less than 1 percent.
The company posted $193.7 million in revenues for the recently completed quarter, while its net loss widened to $213.9 million.
The new Kidney Profile combines two existing tests for chronic kidney disease and could be critical in addressing the under-diagnosis of the ailment.
The collaboration aims to eliminate barriers to testing for chronic kidney disease by standardizing the method for testing for the condition, thereby improving the comparison of test results between labs.