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The New York State Department of Health had previously provided conditional approval of the microRNA classifier for diagnosing indeterminate thyroid cancer cases.
The company missed analyst estimates on the top line, but beat expectations for loss per share during the quarter.
After a 54 percent quarter over quarter rise in sales of the test, Rosetta's CEO said that the realigned strategy will take the firm to profit more quickly.
MultiGen said its test identified and confirmed the BRAF p.V600E mutation with a thousandfold increase in sensitivity compared to competing PCR-based and NGS methods.
The test, intended as an aid for diagnosing thyroid cancer where cytopathology is inconclusive, is now covered for around 250 million patients nationwide.
The firm touted recent Blues coverage decisions for the Afirma thyroid cancer test, and final Medicare coverage policies for the Percepta lung cancer test.
Veracyte said that Quest’s access to half of the physicians and hospitals in the US will provide patients with broader access to the Afirma GEC.
The test is designed to analyze the expression of microRNA biomarkers in indeterminate thyroid fine needle aspirate smears in order to differentiate benign thyroid nodules from malignant ones.
The firm will sell 855,000 shares of its common stock to three investors. It will also sell warrants to the same investors.
The new agreement brings Interpace's total insurance coverage for its thyroid assays to approximately 200 million patients.