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The agreement marks Veracyte's first deal to expand the testing menu on the nCounter instrument since it acquired the rights to the platform from NanoString in December.
For the three months ended Mar. 31, the firm reported total revenues of $31.1 million compared to $29.5 million in Q1 2019, beating analysts' average estimate of $30.6 million.
Veracyte has obtained rights to a 52-gene signature developed by Yale researchers to predict disease progression in patients with idiopathic pulmonary fibrosis.
The company expects Q1 revenues to be in the range of $30.5 million to $31.5 million compared to $29.5 million in the year ago period, due to an increase in its testing volume.
Patients with luminal breast cancer subtypes may do just as well without anthracycline-based chemo and avoid unnecessary toxicities, a study showed.
The firm posted $29.7 million in revenues, up about 15 percent from $25.8 million in Q4 2018 and slightly above the analysts' average estimate of $29.5 million.
Most diagnostics companies saw increases in share prices compared to last year, resulting in a significant jump in the 360Dx Index.
While NanoString will commercialize its nCounter for research use applications, Veracyte will move its current assays onto the platform to reach a global audience.
Veracyte has also acquired Nanostring's Prosigna breast cancer and LymphMark lymphoma assays and plans to develop diagnostic tests using the nCounter platform.
Of the 28 companies in the index, 21 companies' share prices increased while the share values of 7 declined month over month.