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Veracyte reported total Q3 revenues of $31.1 million compared to $31.0 million in Q3 2019, beating analysts' average of $23.9 million.
Myriad Genetics' EndoPredict, Agendia's MammaPrint (distributed in Germany by PathoNext), and Veracyte's Prosigna will now be covered by public insurance.
News items for the in vitro diagnostics industry for the week of Sept. 21, 2020.
The firm will use the proceeds for working capital and other general corporate purposes, with the potential to acquire or invest in complementary businesses, technologies, or assets.
Of the 28 companies in the index, 22 firms saw their stock prices increase, while six firms' share prices decreased.
For the three months ended June 30, the genomic testing firm reported total revenues of $20.7 million.
MaviDx will develop, validate, secure regulatory approvals for, and commercialize its SARS-CoV-2 and other infectious disease tests, including for influenza, on Veracyte's nCounter system.
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.