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NIPS

Natera sued Progenity in June but the firm said its Innatal cell-free DNA noninvasive prenatal test does not infringe any of Natera's six patents.

The suit comes shortly after Progenity filed for an initial public offering in which it is seeking to raise up to $122.6 million.

The May 8 settlement resolves all claims and counterclaims relating to noninvasive prenatal testing and pre-implantation genetic screening and diagnosis.

Natera reported $94 million in revenues for the quarter, up from $66.8 million a year ago and beating analysts' consensus estimate of $85 million.

Revenues for the fiscal year totaled £16.6 million ($20.7 million), up from £8.9 million during FY 2019.

The notes will be sold at an initial effective conversion price of about $38.79 per share, approximately a 30 percent premium to Monday's $29.84 per share closing price.

The company is withdrawing its previous financial guidance for 2020, saying that it cannot predict the extent or duration of the impact of the COVID-19 pandemic.

Earlier this month, the company started accepting clinical samples at its CLIA/CAP laboratory in Pittsburgh and an affiliate laboratory in Malaysia.

A preliminary analysis lends some support to covering NIPS for pregnancies beyond high-risk, and some payors have expanded coverage.  

 

The company processed more than 200,000 tests during the quarter, an increase of 20 percent compared to the 167,000 tests it processed in Q3 of last year.

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