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The investment bank said CareDx's products are gaining traction and that the stock is positioned for 20 percent to 30 percent growth over the next few years.

CareDx, which focuses on transplant medicine, said it intends to use the proceeds from the offering for working capital and general corporate purposes.

The company, which launched the technology in September 2019, said in its Q4 earnings release that it received high marks from beta testers.

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.

Noridian is also developing a generic policy for donor-derived cfDNA tests that will include several commercially available tests, Natera said.

Natera reported $94 million in revenues for the quarter, up from $66.8 million a year ago and beating analysts' consensus estimate of $85 million.

The partners are planning to develop and commercialize UroMap, a urine-based gene-expression test for acute cellular rejection in kidney transplant recipients.

The company reported $38.4 million in total revenues for the quarter and said testing services revenues rose 46 percent year over year.

The company said the COVID-19 pandemic and resulting stay-at-home orders have led to a slowdown in testing service volumes in recent weeks.

The deal includes key testing services like Transplant's TruGraf blood test and Viracor's TRAC test, along with Viracor Eurofins' new SARS-CoV-2 test.

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