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The firm presented initial study results from the test, which identifies six cancers, showing overall sensitivity at 86 percent and specificity of 95 percent.

Shares of Illumina fell in afternoon trading on the Nasdaq following a brief rise after the market open.

The firm is offering an additional 500,000 shares of Class A stock, bringing the total to 4 million shares, offered at $110 per share.

The increased forecast is the result of continuing COVID-19 testing volumes along with recovery in its breast and skeletal business, Hologic said.

The company is selling 4,166,666 shares of its common stock at a price of $60 per share in the offering, which is expected to close Sept. 15.

Florida's largest county joins several major California counties in deploying Fulgent Genetics' PCR-based COVID-19 tests in a drive-through setting.

The single-cell and spatial genomics firm is seeking to raise more money from the markets a year after its $410.8 million IPO.

The firm also announced that all of its coronavirus tests would return additional results for Influenzas A and B by the end of September.

The index underperformed the Dow Jones, the Nasdaq, and the Nasdaq Biotechnology Index, which all rose in August.

While the market ditched shares of many other diagnostics firms, analysts said the reaction was overblown, particularly in the case of Quidel and molecular diagnostics players.