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A consortium convened by Friends of Cancer Research has made progress in quantifying sources of TMB assay discordance and created a new test-alignment software tool.
The targeted sequencing assay analyzes 12 genes and can be paired with the firm's BRCA gene testing kit.
The firm touts a new hybridization probe design, which it says will enable small, focused panels that reduce sequencing costs and assay time.
The firm withdrew its 2020 revenue guidance and missed Wall Street estimates for both revenues and earnings.
Lexogen did not disclose the funding amount, but said it was one of €16 million ($17.4 million) in awards from the Austria Research Promotion Agency.
The firm said the FDA clearance was supported by data across several lab sites and all variant classes in clinical samples from 35 tumor types.
The company has added three recently issued patents to the suit, filed Jan. 27, all covering methods for amplifying and sequencing nucleic acids.
North Dakota-based MedScan Laboratory will collect patient samples and extract RNA for Fulgent's new NGS-based clinical assay for SARS-CoV-2.
The firm reported quarterly revenues of $8.4 million and large increases in the number of billable tests delivered in the quarter and over the full year.
The company believes results from a new study help demonstrate the clinical value of its targeted RNA-seq method, an add-on to its DNA hereditary cancer tests.