The company will return both a genomic prediction of disease aggressiveness and a read on 10-year risks for metastasis and for disease-specific mortality.
The company missed analyst estimates on the top line but beat the bottom line with growth in prostate cancer and international breast cancer test sales.
The Medicare contractor proposed coverage for several cancer assays, but would not cover molecular respiratory virus assays or a test for inflammatory bowel disease.
The company plans to use proceeds to advance its lead AR-V7 test with Genomic Health, accelerate other assays in its pipeline, and enhance its technology.
The company expects Medicare coverage for its test to extend to intermediate prostate cancer patients this year, and it believes new data will help drive increased adoption.
