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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.
Of the 28 companies in the index, 21 firms saw their stock prices increase throughout the first half of the year, while seven firms' share prices decreased.
Of the 28 companies in the index, 18 firms saw their stock prices increase, while 10 firms' share prices decreased.
News items for the in vitro diagnostics industry for the week of June 15, 2020.
Of the 28 companies in the index, 21 firms saw their stock prices increase, while seven firms' share price decreased.
GenMark said it intends to use the proceeds for general corporate purposes that may include an expansion of its menu and increasing its manufacturing capacity.