The company had a challenging fiscal first quarter due to the deletion of CPT codes that payors used to use to reimburse hereditary cancer testing.
The company's revenues were driven by its centralized and point-of-care solutions as well as its molecular diagnostics business, both rising in the single digits.
Qiagen will develop IVDs for use on Illumina's clinical sequencers and reported preliminary Q3 revenue growth of 3 percent at a constant exchange rate.
The San Francisco-based medical genetics firm generated $53.5 million in revenues in the second quarter, beating analysts' consensus estimate of $50.7 million.
The San Diego-based firm said it expects second quarter revenues of $835 million, short of the average analyst estimate of $888 million.
The company said it has faced competitive pressures in its diagnostics business, partially offset by organizational streamlining efforts it initiated last year.
For the last three months of 2018, Invitae reported $45.4 million in revenues compared to $25.4 million in Q4 2017, beating the consensus Wall Street estimate.
The company will compete by continuing product improvements, ramping up marketing presence, and launching an app to improve doctor and consumer engagement.
The firm reported total revenu 16.8 million, up from $187.9 million in Q2 2018 and just above analysts' average estimate.
The index, which outperformed the Dow Jones and the Nasdaq this month, gained 11 percent and rebounded from its 11 percent loss in December.
Gene editing could be an issue competitive sports need to address soon, four researchers from Arizona State University write at Slate.
A genetic alteration appears to increase heart failure risk among people of African descent, according to the Washington Post.
In his look back at the past decade, BuzzFeed News' Peter Aldhous writes that direct-to-consumer genetic testing has led to "Facebook for genes."
In Nature this week: genetic "clock" that can predict the lifespans of vertebrates, new assembler called wtdbg2, and more.