The company missed the analysts' average estimates on the top and bottom lines, but it raised its full-year 2019 revenue guidance.
The diagnostic can now be used to identify patients with esophageal squamous cell carcinoma who may benefit from first-line treatment with Keytruda.
The test relies on a signature that Almac developed for stratifying breast cancer patients, but which, as the researchers showed, can be used in other cancers as well.
The JHU technology leverages an epigenetic biomarker panel and a sponge-on-a-string collection device, as well as a PCR-based method, to detect Barrett's esophagus.
The firm's tool uses a balloon catheter to collect cells from a targeted region of the esophagus without the need for endoscopy
The company beat the consensus Wall Street estimate on the top line and guided to 2018 revenues of between $21 million and $22 million.
CDx Diagnostics reported that crypt dysplasia, identified and analyzed using its three-dimensional detection and surveillance system, could present a risk for esophageal cancer.
Priorities for Q3 include the continued buildup of a commercial launch for the company's BarreGEN test. The firm has started a second clinical validation study for the test.
PavMed subsidiary Lucid will commercialize Case Western's EsoCheck technology to detect Barrett's esophagus, a precursor to esophageal cancer.
PavMed subsidiary Lucid Diagnostics secured exclusive global rights to develop and commercialize genetic biomarker-based diagnostic tests using EsoCheck technology.