The latest news on next-generation sequencing.
The California startup is about to launch its first product, a noninvasive prenatal screening test for recessive single-gene disorders called Unity.
Take2 was founded by Chinese University of Hong Kong researchers and will commercialize a cell-free DNA test for early cancer detection.
The company's new strategic direction recognizes that the incorporation of genomics into patients' lives requires engaging other players in the complex healthcare ecosystem.
The company plans to offer 5.5 million shares of its common stock at $23.25 per share, raising around $127.9 million.
The company will use the proceeds for working capital and to repay around $12.4 million of its term loan.
The government payor asked the public to specifically weigh in on the evidence supporting germline testing to assess treatment benefit for patients with hereditary cancer syndromes.
The company plans to present early data this year from its collaboration with Johnson & Johnson to develop a nasal swab-based lung cancer genomic classifier.
The company increased its 2019 revenue forecast and shrunk its net loss significantly in its push to become cash flow breakeven by the end of the year.
The firm's clinical service revenues were up also 51 percent, and it also announced it has signed a contract with insurer Humana.
Elucigene has been developing in vitro diagnostics for oncology and reproductive health, including tests for cystic fibrosis screening and prenatal fetal aneuploidy screening.