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financial guidance

The company said the divestiture of its medical imaging business in the fourth quarter reduced revenues to below previous guidance.  

For full year 2016, the company reported 8 percent revenue growth and net income of $2.02 billion.

The firm also reported that 2016 preliminary revenues were up 14 percent, and that Nanosphere MDx platform revenues rose 32 percent.

The company lowered its financial guidance for fiscal 2016, citing delays in recognizing fourth quarter revenue from its pharma services business.

The company anticipates adjusted earnings per share of $3.85 to $3.95 for the full year.

The GenomeWeb Index, which fell nearly 9 percent in October, rebounded to a 1 percent gain in November, but still underperformed the Dow and Nasdaq.

The firm saw a 6 percent boost year over year in test volumes for its AlloMap non-invasive blood test for heart transplant patients.

The company reported drops in revenues for both its human health and environmental health units, blaming challenging market conditions for the decreases.

The company touted the recent spate of positive payor coverage decisions it has seen for its ConfirmMDx and SelectMDx prostate cancer tests.

The company attributed the increase to gains in its molecular business, including $7.4 million in revenues from Nanosphere, which Luminex acquired in June.

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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.