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News and reporting on lung cancer.
The company said it intends to use net proceeds from the offering to support development and commercialization for its DetermaVu and Razor assays.
The company signed a distribution agreement in Japan for its Idylla products and also initiated a listing of €150 million in unsecured convertible bonds.
The San Diego-based company said that the number of commercial samples received during the quarter grew 66 percent year over year.
The number of technologies to be assessed is vast, and ranges from liquid biopsies and molecular imaging to immunohistochemistry and RNA-seq.
The company will use its InVisionFirst-Lung test to study resistance mutations in patients treated with Pfizer's ALK inhibitor lorlatinib.
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.
The company has collected initial evidence for an algorithmic method to predict immunotherapy response, and is studying its technology in treatment monitoring.
An IASLC survey showed that molecular testing is not performed in line with expert guidelines, which means only a minority of lung cancer patients are benefitting from precision oncology.
An investigator for the study said that the sensing platform correctly identified all of the patients that were non-responders to anti-PD-1 immunotherapies.