The company attributed its revenue shortfall to billing issues in the prenatal testing business and announced that CFO Bryan Riggsbee will be interim CEO.
Paired tumor/germline analysis is not routinely done in cancer care, but some labs are starting to report incidental germline findings alongside patient's tumor profiles.
Doctors can now order the test to identify breast cancer patients with BRCA1/2 mutations who may be eligible for surgery or targeted therapy.
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.