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The skin cancer test developer reported total revenues of $14.8 million compared to $3.7 in Q3 2018, beating the Wall Street expectation of $9.5 million.
The pilot study with the Mayo Clinic is the final step before SkylineDx commences a US trial next year for its molecular test for primary cutaneous melanoma.
The company reported $10.7 million in total revenues for the quarter and said test report volume for its DecisionDx-Melanoma test grew 27 percent.
The company markets two tests for skin cancer, including DecisionDx-Melanoma for identifying high-risk Stage I and II cutaneous melanoma patients.
The researchers said that they have demonstrated an approach that skirts a bottleneck and enables building pathology support systems from large datasets.
The blood-based test, called Melaseq, measures 38 circulating microRNAs that regulate processes that melanoma cells undergo as they become malignant.
Using genetic information from cancer cells, SkylineDx is developing its test to predict whether a patient is at risk of having metastases in the lymph nodes,
The firm will use the funds to expand deployment of its digital pathology software and accelerate use of artificial intelligence applications.
Skin cancer apps can supplement but not substitute standard medical care, and they require proper vetting using standard validation methods, researchers said.