After a two-year evaluation in advanced non-small cell lung cancers with Allegheny Health Network, the payor will cover the test for its regional members.
In its IPO prospectus, the company shared plans to broaden the use of its methylation technology from cancer screening to diagnostics and residual disease monitoring.
Created by BloodPAC members, the resource may serve as a set of generic analytical protocols to help define industry standards for developing liquid biopsy tests.
The company is using newly raised funds to support a disseminated trial model, which it said will help it keep its plans to finish the study by the end of 2021.
The agency approved the test for use across solid tumors and with multiple companion diagnostic indications including one for prostate cancer and three for lung cancer.
The company said proceeds will accelerate the ongoing FDA registrational study of its blood-based colorectal cancer screening test and further its extended pipeline.
The company was able to ramp up recruitment for its pivotal ECLIPSE trial after hurdles caused a falloff during the earlier months of the COVID-19 pandemic.
The assay provides comprehensive genomic information to oncologists from a blood draw, using targeted next-generation sequencing of circulating cell-free DNA.
Although its research test volume decreased significantly because of the COVID-19 pandemic, the company saw revenue growth across both clinical testing and development services.
