The company's third quarter revenue increase was driven in part by strong growth in its molecular biology clinical applications.
Becton Dickinson got clearance for a platform and test for the rapid identification and determination of antimicrobial susceptibility of gram-negative bacteria.
Smaller multiplex molecular panels of five or fewer targets will be covered, while a determination of gastrointestinal panel coverage is expected soon.
The technology works directly from clinical samples and can potentially be multiplexed to detect tens of targets, according to the firm.
The firm plans to use the funds to develop a five-minute point-of-care molecular diagnostic system for multiplexed infectious disease detection.
The researchers are testing the method in a clinical trial of hospital-acquired pneumonia and are working on tests for meningitis and prosthetic joint infections.
The company beat the consensus Wall Street estimate on the top line but missed it on the bottom line. It placed 39 net new ePlex analyzer during the quarter.
The firm anticipates that the award will accelerate the development of its over-the-counter and professional-use influenza and multiplex respiratory pathogen tests.
Clinicians were surprised by a recent NEJM study that found that using procalcitonin assays did not reduce the use of antibiotics.
The Fusion module is an in-lab upgrade to Hologic's Panther instrument, which enables labs to extend the testing capabilities of their existing Panther.