Paired tumor/germline analysis is not routinely done in cancer care, but some labs are starting to report incidental germline findings alongside patient's tumor profiles.
Most diagnostics companies saw increases in share prices compared to last year, resulting in a significant jump in the 360Dx Index.
Gainers in the index outpaced the decliners 19 to nine, and the index outpaced the Dow Jones Industrial Average and Nasdaq Biotechnology Index but lagged the Nasdaq.
The company has multiple companion diagnostics partnerships in the works, with new tests on the way in 2020, and new plans for next-generation sequencing.
Of the 29 companies in the index, 18 companies' share prices declined while the share values of 11 increased month over month.
Clinical services revenues rose 56 percent to $92.6 million while pharma services grew 26 percent to $12.1 million.
Of the 27 companies in the index, 12 firms' share prices retreated last month, 14 companies' stocks increased, and one firm's share value was flat.
Much of the growth was driven by contributions from Genoptix, which NeoGenomics acquired in late 2018. Organically, revenues were up 20 percent.
The agreement consists of a $100 million revolving credit facility, a $100 million initial term loan, and a $50 million delayed-draw term loan.