During its earnings call this week, the liquid biopsy firm said it is planning a 10,000-patient trial to test its Lunar assay for colorectal cancer screening.
Overall, the share prices for 18 of the index's 27 companies fell month over month. Exact Sciences was the only firm whose share price improved in the double digits.
The firm recently submitted an application to the US Food and Drug Administration to expand Cologuard's label to the 45 to 49 age group.
The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.
The four-protein signature is associated with early forms of colon cancer that are most likely to progress into later stages of the disease.
The company said it will use part of the proceeds to repurchase some of its senior notes due in January 2025, and the rest for corporate purposes.
The company said test volume for its Cologuard colorectal cancer test rose 66 percent during the quarter to 292,000.
The startup, which was founded by two Washington University researchers and a Wharton MBA, is looking to take a big bite out of Cologuard's market.
The test, which searches for fragments of DNA 200 basepairs or longer that are characteristic of diseased mucosa, may eventually compete with diagnostics like Exact Sciences' Cologuard.
The 360Dx Index was up 12 percent last month as shares of Accelerate Diagnostics, Veracyte, and Exact Sciences each improved more than 40 percent month over month.