The company beat analyst estimates on the top and bottom line, driven by sales of its Panorama noninvasive prenatal and Horizon carrier screening tests.
The California startup is about to launch its first product, a noninvasive prenatal screening test for recessive single-gene disorders called Unity.
ArcherDX plans to keep its research and development efforts in its current facility and move its clinical and commercial testing operations to Baby Gene's CLIA lab.
Run by the daughter of a renowned genetic oncologist, CancerIQ is expanding and raising money as it rolls out its testing management and clinical decision support technology.
The investment bank called Genomic Health a leader in diagnostic testing and said Invitae will benefit from growth trends in the genetic testing sector.
During the quarter, the number of billable tests delivered rose to 5,700, and the CEO said that recent investments in the firm were showing a positive impact.
Cooper took a $24.4 million impairment charge in the second quarter on the intangible assets it acquired in 2016 from carrier screening firm Recombine.
The firm reported selling more billable tests in Q1 than any previous quarter and said that it is starting to see momentum in new initiatives, such as carrier screening.
The $375 million deal marks the integration of Myriad, a leader in the hereditary cancer genetic screening market, with Counsyl, a leader in reproductive genetic screening.
Myriad will merge Counsyl’s reproductive tests with its preventive care business unit into a new business unit called Myriad Women’s Health.