An IASLC survey showed that molecular testing is not performed in line with expert guidelines, which means only a minority of lung cancer patients are benefitting from precision oncology.
The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.
Qiagen's test detects the most frequently occurring somatic mutations in EGFR in less than four hours using real-time PCR on the Rotor-Gene Q platform.
Test volume for the firm's Cologuard colorectal cancer screening test rose 49 percent year over year during the quarter.
The test is approved to gauge germline BRCA mutations in advanced breast cancer patients who may benefit from treatment with Pfizer's PARP inhibitor Talzenna.
The companion diagnostic for Pfizer's Xalkori identifies 14 ROS1 gene fusions by analyzing tumor messenger RNA from human tumor tissue or body fluids.
The analyst said Myraid's GeneSight and NIPT products present near-term opportunities that "should help power earnings upside in the years to come."
Pfizer will join Exact's sales reps to increase adoption of the colorectal cancer test; Wall Street reacted by sending Exact's shares up sharply.
The FDA will consider the companion diagnostic application alongside data for Pfizer's talazoparib in BRCA-mutated advanced breast cancer.
The funding will be available to members of the Association of Community Cancer Centers, a cancer care provider advocacy group.