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The firm plans to use the cash to support commercial expansion of its NIPT to all US states and fund R&D for future diagnostic tests, including liquid biopsies.
AdGeniX started distributing Yourgene's Iona test in France in 2015 and has rapidly grown sales for the test, a trend that is expected to continue.
The increase in total revenues was driven primarily by sales of Natera's Panorama and Horizon reproductive health tests.
The technology uses single-cell droplet digital PCR to analyze maternal blood cell populations that have been enriched for fetal cells by MACS.
CEO Prahlad Singh said the firm is developing a PCR- and antibody-based assay for the novel coronavirus 2019-nCoV and is working with the Chinese NMPA.
The investment bank gave PerkinElmer an Outperform rating with a $114 stock price target and Hologic an In Line rating with a $55 stock price target.
Earlier this month, the company started accepting clinical samples at its CLIA/CAP laboratory in Pittsburgh and an affiliate laboratory in Malaysia.
Researchers at Baylor College of Medicine and Columbia University found that almost all blood samples from pregnant women tested contained several trophoblasts.
Yourgene said it continues to consider additional acquisition opportunities to enhance its earnings and to acquire complementary technologies.
Clinical genomics is just one business area for PHIX, which also intends to sell genomic tools and introduce a variety of agriculture and lifestyle-focused tests.