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.
The assay, being developed in partnership with Johnson & Johnson, will complement computed tomography imaging by combining 26 genes and clinical variables for lung cancer detection.
For the three months ended Sept. 30, the firm reported total revenues of $31.0 million, beating analysts' average estimate of $30.1 million.
For the three months ended June 30, the genomic testing firm reported total revenues of $30.1 million.
Other big gainers last month included Accelerate Diagnostics and Natera, and share prices of 23 of the 27 companies in the index increased month over month.
Get the latest news from Bruker, Veracyte, Natera, VolitionRx, Celcuity, Genome Diagnostics, Verogen, iGene Labs, and Danaher for the week of 5/10/19.
The company plans to offer 5.5 million shares of its common stock at $23.25 per share, raising around $127.9 million.