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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.
The company said that contact between its sales reps and clinicians began to decline in March due to the COVID-19 pandemic, affecting mainly SelectMDx volumes.
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 company said the COVID-19 pandemic and resulting stay-at-home orders have led to a slowdown in testing service volumes in recent weeks.
Starting late March and into its fiscal fourth quarter, social distancing guidelines began significantly impacting test volume trends, the company said.
Approximately 80 percent of gross product placements in the quarter were associated with interest in COVID-19 testing, the firm said
The company said that its preliminary revenues are expected to be down almost 8 percent year over year due to the pandemic.
The company said that as the COVID-19 pandemic spread throughout the world, it saw a "significant reduction in customer activity" by late March.
The Los Angeles Times reports that experts say Moderna's investigational COVID-19 vaccine results seem to be a step in the right direction, but that more testing is needed.
The Washington Post reports a new coronavirus data reporting protocol goes around the Centers for Disease Control and Prevention.
The Trump Administration has reversed its policy that could have stripped international students of their visas, the New York Times says.
In Cell this week: proteomic and metabolomic analysis of blood from COVID-19 patients, change in phosphorylation with infection, and more.