Opko

The broader market drove down the stock prices of many diagnostics companies. Natera, Guardant Health, and CareDx paced the gainers.

The company reported revenues of $222.5 million, down from $254.9 million in Q1 2018, and below the consensus Wall Street estimate of $241.3 million.

Many diagnostic firms saw gains in their stock prices last month as Invitae and NantHealth also saw healthy increases.

The company's revenues in the quarter rose to $221.9 million from $161.0 million in Q4 2017, but it missed the consensus Wall Street estimate of $245.3 million.

Opko will use the proceeds to fund R&D to further develop its diagnostics and pharmacy portfolio, and for working capital including debt repayment.

The test, for use on the Claros I Analyzer, leverages microfluidic technology in a disposable test cassette to provide results in 10 minutes or less.

The non-coverage decision came despite appeals by the company following a draft non-coverage determination issued last year.  

Veracyte was the only company in the 360Dx Index whose stock price rose last month while NantHealth, NeoGenomics, and Accelerate Diagnostics saw sharp declines.

Both Opko and Phillip Frost will pay penalties and refrain from certain activities. Frost had been accused by the SEC of participating in market manipulation schemes.

The company's $249.8 million in revenues missed the consensus Wall Street estimate, but its loss of $.05 per share beat analysts' average expectation.