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The assay is Guardant Health’s first commercially available product for clinical management of early-stage tumors and is initially focused on colorectal cancer.
Despite challenges related to the coronavirus pandemic, the Chinese precision oncology firm reported total quarterly revenues of RMB131.7 million ($20.2 million).
The company doesn’t expect significant revenue from the test this year, but executives said that they are already seeing positive reception trends.
The company is getting ready to offer cancer patients every type of molecular cancer diagnostics, including testing for minimal residual disease.
The Spanish firm also expects to release clinical data on its early-stage, next-generation sequencing-based colorectal cancer test in the first half of 2021.
The company aims to use the methylation technology from its multi-cancer screening assay to detect minimal residual disease in early-stage cancer patients.
The company presented new evidence for the sensitivity of its multi-cancer early detection test and robustness of its automated library prep system.
Novitas added multiple leukemia biomarkers to its coverage determination, as well as the ThyGeNEXT molecular panel.
The firm is engaged in multiple clinical validation trials and aims to raise more than $100 million to launch its Helio Liver Test in the US early next year.
The firm presented initial study results from the test, which identifies six cancers, showing overall sensitivity at 86 percent and specificity of 95 percent.