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According to some analysts, the selloff in IVD company shares may be an overreaction, and SARS-CoV-2-related testing will be needed for some time in the future.
The company said that at a time of unparalleled growth, it is building three new manufacturing lines and expanding resources for future assay development.
GenMark said it placed 70 net ePlex analyzers in Q3 and ended the quarter with a global installed base of more than 720 ePlex analyzers.
The company said that the FDA has granted it Emergency Use Authorization for a respiratory panel that includes SARS-CoV-2, flu, and other pathogens.
Semi-quantitative SARS-CoV-2 serology tests enable users to measure levels of neutralizing antibodies, but tests need to be more comparable across manufacturers, Siemens said.
Overall, GenMark's ePlex Respiratory Pathogen Panel 2 provides results for more than 20 viruses and bacteria, including SARS-CoV-2, flu A and B, RSV, and rhinovirus.
Healthcare providers need multiplexed tests that can differentiate the flu from the coronavirus so they can treat patients quickly and appropriately.
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.
GenMark has two SARS-CoV-2 tests that have received FDA Emergency Use Authorization, including a respiratory panel that tests for 21 pathogens.
The firm anticipates that Q2 2020 revenues associated with its ePlex tests would increase by about 195 percent compared to Q2 2019.