The firm generated $56.5 million in revenue compared to $37.4 million in Q3 2018, and beat the consensus Wall Street estimate of $55.0 million
The company had a challenging fiscal first quarter due to the deletion of CPT codes that payors used to use to reimburse hereditary cancer testing.
CMS has attempted to address stakeholders' concerns about its coverage criteria for germline NGS testing in a new proposed national policy.
Within the program, Ochsner is hoping to improve preventive care in certain cancer and cardiac conditions with information from genetic tests performed by Color.
The firm hopes to return fewer VUS in its test reports and to accelerate the resolution of uncertain results issued to patients in that past.
The lab can now receive US specimens for testing with its LiquidHallmark blood test that detects cancer-causing gene mutations and viruses.
The team analyzed multigene panel test data from Ambry Genetics for 165,000 individuals, focusing on hereditary cancer risk related to 32 genes in six cancer types.
Research presented at ACMG by Invitae suggests that clinically actionable variants in cancer patients are missed by germline testing that is not done with expanded panels.
The American Society of Breast Surgeons updated consensus guidelines to recommend multigene panel testing for patients with cancer, including those who were tested many years ago.
The company will compete by continuing product improvements, ramping up marketing presence, and launching an app to improve doctor and consumer engagement.