The company also announced that its Ares Genetics subsidiary has been awarded a €1.6 million grant to develop antibiotic resistance technologies.
Abbott's CFO said he expects mid-single-digit growth from diagnostics in Q1 2018 and mid-to-high single digit growth for the full year.
Companies in the life science tools and molecular diagnostics spaces provided updates on their businesses at the 36th annual JP Morgan Healthcare Conference this week in San Francisco.
Invitae is expecting to net revenues of $59 million in 2017 via its base business, and $67 million in total revenues including acquired companies.
The firm said it expects fourth quarter revenues of $12.3 million to $12.5 million, a year-over-year increase of 13 percent to 15 percent.
The company also expects to report a 31 percent increase in full-year 2017 revenues.
The firm said it completed approximately 176,000 Cologuard tests during the quarter, a 115 percent year-over-year spike.
Expectations for the full year exceeded prior guidance and analyst expectations and the firm said it believes it has put itself on a path to improved growth in 2018.
The investment bank said that an edit to CMS guidelines impacts payments for hereditary cancer testing, and could present Myriad with revenue and EPS headwinds.
In a note, Cowen analyst Doug Schenkel said the company has had trouble meeting its targets and suggested it pursue a strategic sale of its nCounter platform.
The London School of Economics' Daniele Fanelli argues at the Proceedings of the National Academy of Sciences that the reproducibility crisis in science isn't as dire as some say.
A team of researchers in Portugal has examined the genomic basis for racing pigeons' athleticism and navigational skills, finding it's likely polygenic.
Wired reports that diagnostic firms continue to seek, post-Theranos, the ability to diagnose diseases from small amounts of blood.
In Science this week: analysis of DNA from ancient North Africans, and more.