NIPT

The firm's revenue decrease was largely driven by a decline in testing volumes due to the COVID-19 pandemic, it said.

The company reported $112.4 million in revenues compared to $83.2 million in Q4 2019, beating the average Wall Street estimate of $106.6 million.

Life Genomics markets a noninvasive prenatal test for chromosomal abnormalities, a genetic disease carrier test, and an Alzheimer's disease risk test.

The company said it expects core molecular testing revenue between $115 million and $125 million and SARS-CoV-2 revenue between $15 million and $20 million.

Aetna's move comes at a time when a number of insurers including UnitedHealthcare have begun offering coverage of NIPT for average-risk pregnancies.

Several analysts said that the decision by UHC, the largest private payor in the US, will especially benefit Natera.

The firm said it will dispute the claim of overpayment and will separately negotiate with the undisclosed payor for in-network status.

The company performed 84,067 total tests in Q3 but missed the analysts' average estimates on the top and bottom lines.