The University of Arkansas researchers aim to commercialize the Cytophone platform, in development since 2003, by launching a startup in the next year.
The company said adopters are ordering tests in areas of great interest, like CTC and blood biomarker monitoring, despite a lack of reimbursement.
The company saw $1.0 million in revenues for the quarter, including $976,000 from commercial testing, and attributed the growth to its pathology partnership initiative.
The company's total revenue for the three months ended March 31 was $108.8 million compared to $92.6 million in the first quarter of 2018, exceeding analyst expectations.
The kit allows stable preservation and transport of blood samples for testing using the company's in-house clinical and research assays.
The iPod-sized system integrates a microcontroller, a peristaltic pump, heparin injector, and microfluidic chip to capture tumor cells in a patient's bloodstream.
The firm saw total revenues of $859,526 for the three months ended Dec. 31, 2018 compared to $995,226 in the same period of 2017.
The company can now perform the test on samples from New York residents with advanced prostate cancer to help guide the choice of either hormonal or chemotherapy.
At the AGBT meeting last night, Johns Hopkins researcher Joshua Cohen said that the partners are looking to recruit 50,000 healthy individuals for the study.
Research groups and companies are developing and applying tools to enrich for and capture CTCs to diagnose tumors early and monitor patients during treatment.