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Recent results from the firm's case-control study cohort showed overall sensitivity of about 50 percent but higher performance for a subset of high-mortality cancers.
The results represent a significant improvement over currently used screening tools and are spurring renewed LDT commercialization and regulatory submission efforts.
The company reported RMB133.9 million (US$20.5 million) for the quarter, up from RMB102.9 million in the same period of 2019.
CellMax also completed a Series C financing round to speed up development of itsFirstSight liquid biopsy test to detect colorectal cancer and precancer polyps.
The company had been working to expand its retrospective data over the last year and half and is now readying to move forward with prospective studies.
The company intends to develop its fragmentomic approach for early cancer detection both in individual tumor types and for multi-cancer screening.
Backed by large public companies and growing prospective data, the first molecular blood tests to screen for multiple cancers are approaching commercialization.
In a note to investors, Piper Sandler analysts wrote that the upgrade reflects increased confidence in Grail and Illumina's core next-generation sequencing business.
The company's HCCscreen assay will be used in a liver cancer screening public health initiative, generating real-world data on the test's clinical validity and impact.
Yourgene's Taipei subsidiary will promote the Take2 Prophecy test in Taiwan and will establish a clinical network for the collection of patient blood samples.