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Guidance for 2018 placements of ePlex respiratory testing systems is lower than analysts’ estimates, but the firm communicated remedies for adoption challenges.
The 360Dx Index was down 3 percent in February, reflecting similar losses in the broader markets. GenMark Diagnostics and Opko Health were the biggest decliners.
On a conference call following the release of the earnings, the firm's CEO guided for lower 2018 ePlex placements than had been expected by analysts.
Qiagen believes the flexibility of the Stat-Dx platform for an evolving reimbursement landscape will set it apart from other similar commercial platforms.
Leading the gainers in the 360 Index was GenMark, whose stock price was up 30 percent last month. Invitae led the decliners as its share price fell 24 percent.
Quest's CEO gave an overview of the firm's business and the lab space in general, while GenMark launched a new system this week aimed at smaller labs.
The company attributed the revenue increase to strong sales of its ePlex molecular diagnostics systems.
Several firms, such as Exact Sciences and Foundation Medicine, saw their share values more than double during the year, while NantHealth and GenMark saw their share values shrink.
Paced by Accelerate Diagnostics and Bio-Rad, the 360Dx Index beat the broader markets. Shares of GenMark and Opko, however, were sharply down.
GenMark placed 65 ePlex analyzers in Q3, the first full quarter after the platform's launch in the US, and it expects to exit 2017 with up to 200 placements.