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financial guidance

The firm said revenues for its discovery and analytical solutions business rose 1 percent year over year while revenues from diagnostics rose 8 percent.

The company missed analyst estimates on the top line, but beat expectations for loss per share during the quarter.

The company posted a 3 percent increase in molecular diagnostics sales at constant exchange rates, and a 3 percent decline in instrument sales.

The company, which beat Wall Street expectations on the top and bottom lines, said completed Cologuard test volume rose 150 percent over Q1 2016.

The company reported $4.77 billion in first quarter revenues, driven by growth in all of its business segments.

The company said revenues for the quarter and full-year 2016 included sales of Olerup HLA typing products, which CareDx got through its acquisition of Allenex.

The company beat Wall Street analysts' expectations for sales and earnings per share during the quarter.

The company also said it has closed a new $25 million debt facility, and will use the proceeds to retire outstanding debt and bolster the launch of AlloSure.

The company said it completed 82,000 Cologuard tests during the quarter, a 114 percent growth in test volume during the three-month period.

The firm's full-year 2016 revenues fell 9 percent, also on lower instrument sales.

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Researchers have sequenced the genome of the depth-dwelling giant squid.

Prosecutors have charged a former Drexel University professor with theft for allegedly spending federal grant money on adult entertainment and other unrelated expenses, according to the Philadelphia Inquirer.

 

Chris Collins, a former US representative, has been sentenced to more than two years in prison in an insider trading case involving an Australian biotechnology firm, the New York Times reports.

In PNAS this week: Trypanosoma brucei transcripts, estimate of people at risk of inherited retinal disease, and more.