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The investment bank said CareDx's products are gaining traction and that the stock is positioned for 20 percent to 30 percent growth over the next few years.
News items for the in vitro diagnostics industry for the week of June 15, 2020.
News items for the in vitro diagnostics industry for the week of June 8, 2020.
CareDx, which focuses on transplant medicine, said it intends to use the proceeds from the offering for working capital and general corporate purposes.
Of the 28 companies in the index, 21 firms saw their stock prices increase, while seven firms' share price decreased.
The company, which launched the technology in September 2019, said in its Q4 earnings release that it received high marks from beta testers.
The agreement marks Veracyte's first deal to expand the testing menu on the nCounter instrument since it acquired the rights to the platform from NanoString in December.
The partners are planning to develop and commercialize UroMap, a urine-based gene-expression test for acute cellular rejection in kidney transplant recipients.
The company reported $38.4 million in total revenues for the quarter and said testing services revenues rose 46 percent year over year.
The ALARM Partnership is being launched to measure the impact of AlloSure and RemoTraC on lung transplant patients.