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The company also said it is planning on filing for Emergency Use Authorization for its SARS-CoV-2 test in the second quarter of 2021.

The US Securities and Exchange Commission alleges that uBiome's founders misled investors in order to close a Series C financing round in 2018. 

In a court complaint, the SEC alleges that from March to at least June, Decision Diagnostics falsely claimed it had developed a blood test for COVID-19.

Abbott has terminated its prior $5 billion credit agreement also with JP Morgan reached in November 2018.

The increased forecast is the result of continuing COVID-19 testing volumes along with recovery in its breast and skeletal business, Hologic said.

The company is developing a blood-based test to detect more than 50 cancer types across all stages and identify a tumor's tissue of origin.

The company, which went public in June, has had to deal with issues with the US DOJ, and some private insurers. Its CEO's tenure at Sequenom was also marred by a scandal.

The company recently agreed to pay millions to three major insurers under settlement agreements related to allegations over undisclosed past business practices.

The Beijing-based company offers genomics products and services, including PCR instruments and cancer sequencing, and maintains a research center in the US.

The firm said it intends to use the credit facility to support its US and European commercial paper programs and for general corporate purposes.