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The firm missed the Wall Street estimates on the top and bottom lines, and it lowered its EPS and adjusted EPS guidance for full-year 2018.
During the first year of the TRIDENT-2 study, 74,000 women opted for NIPT, which was switched from in-house-developed platforms to Illumina's VeriSeq in May of this year.
The investment bank said it is encouraged by the company's strong pipeline and position among its competitors but sees further upside for its stock.
The placing and subscription shares that are part of the offering are expected to start trading on the AIM market of the London Stock Exchange later this month.
By early 2020, the UK company plans to develop a version of its Iona test that uses Illumina's sequencing technology.
A randomized clinical trial from France revealed similar miscarriage rates in women who had cell-free DNA screening for trisomy 21 prior to invasive testing.
The firm recognized $63.1 million in revenues and processed 162,807 tests in the second quarter 2018.
The partners will test PerkinElmer's Vanadis NIPT platform on samples from 2,650 women to determine detection and false positive rates.
The report states that using NIPD for trisomy 21 in high-risk women could "probably reduce" the total number of invasive tests though the data is incomplete.
Under the agreement, the companies plan to develop a customized solution that can be widely deployed for DNA sequencing.