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The increased forecast is the result of continuing COVID-19 testing volumes along with recovery in its breast and skeletal business, Hologic said.
The California-based genetic testing firm said its new lab will be able to process 20,000 tests per day and will initially focus on COVID-19 testing.
The firm reissued its full-year guidance and said it expects to sell 60 instruments in the US for the remainder of the year.
The company said it broadened the scope of its life science products to include COVID-19 reagents used by manufacturers to develop rapid antigen tests.
GenMark has two SARS-CoV-2 tests that have received FDA Emergency Use Authorization, including a respiratory panel that tests for 21 pathogens.
The firm delivered record revenue and the most profitable quarter in its history as a result of the increased demand for its products.
CEO Doug Bryant noted, in particular, what he expects will be a hunger for rapid protein-based antigen tests for the coronavirus that the market currently can't fill.
For the three months ended July 3, the Washington DC-based conglomerate recorded $5.30 billion in total sales compared to $4.44 billion in the year-ago period.
Significant revenue from molecular and rapid diagnostic testing for SARS-CoV-2 offset declines in core lab volumes.
The firm's various COVID-19 molecular test offerings offset declines in core laboratory and point-of-care segments.
Two COVID-19 vaccine developers have released their trial protocols to build public trust, the New York Times reports.
A new analysis finds the rapid COVID-19 test from DnaNudge to be highly accurate, Reuters reports.
In Science this week: global citizens' assembly on genome-editing technologies proposed, epigenetic markers predict metformin response, and more.
According to the Verge, many US states are not including positive results from rapid COVID-19 testing in their case numbers.