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The Lexington, Massachusetts-based company has launched a two-hour SARS-CoV-2 test on its fully-automated instrument, the T2Dx.
The genomics firm is expecting major revenue decreases in every geographic region but sees signs of hope that business can pick up again later in the year.
In a marked contrast to its negative performance in February and March, the GenomeWeb Index rose more than 18 percent in April.
The company said that despite the uptick, the COVID-19 pandemic has negatively affected orders for its Cologuard colorectal cancer screening test.
The company's revenue was largely attributed to its Acuitas AMR Gene Panel and Acuitas Lighthouse informatics platform.
The company noted a slowdown in demand in instrument-oriented businesses toward the end of the first quarter due to the COVID-19 pandemic.
The company is withdrawing its previous financial guidance for 2020, saying that it cannot predict the extent or duration of the impact of the COVID-19 pandemic.
The company reported preliminary Q1 revenues of $71 million to $72 million, despite a decline in customer activity due to the coronavirus pandemic.
Preliminary Q1 revenues and EPS benefitted from product sales for COVID-19 testing and significantly exceeded previously issued guidance.
Clinical test volume at the company is expected to grow 7 percent year over year but decreased significantly at the end of March due to the COVID-19 pandemic.
The Washington Post reports on researchers' efforts to determine the effect of an increasingly common SARS-CoV-2 mutation.
Florida Politics reports Florida's law barring life, long-term care, and disability insurers from using genetic information in coverage decisions went into effect at the beginning of July.
A new analysis finds a link between popular media coverage of a scientific study and how often that paper is cited.
In Nature this week: CRISPR approaches to editing plant genomes, way to speed up DNA-PAINT, and more.