MDx

The firm, which said last week it expected to raise $15.9 million, has said it will use the net proceeds for working capital and general corporate purposes.

The increase was largely due to a 13 percent rise in clinical lab revenues, driven by sales of molecular diagnostic tests, particularly in women's health.

Piper Jaffray analyst William Quirk said the pricing, which was much higher than expected, will help push CareDx toward profitability.

Ampath will be one of the first laboratories in South Africa to offer a CE-IVD accredited noninvasive prenatal testing center and will act as a hub for such services.

The funding will be used to pay for clinical trials in the US that will be used as underlying evidence for FDA clearance of the test, the company said.

The company said the dramatic increase was driven by a one-time buy-out of patents related to colorectal cancer by Exact Sciences.

Asia Genomics will distribute NantHealth's cancer molecular profiling service in Singapore, Malaysia, Thailand, Vietnam, and the Philippines.

The final LCD covers AlloSure in renal allograft recipients who have a probability of active renal allograft rejection.

The company credited its molecular diagnostics and international businesses as drivers of new growth.

The company, which beat analyst estimates on both the top and bottom lines, said completed Cologuard test volume rose 149 percent to 135,000 tests.

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