The firm reported results today in line with preliminary results reported last week, and affirmed its updated full-year guidance.
With recent and impending launches of POC MDx platforms, some industry observers believe the technology could replace some POC immunoassays in a few years.
In addition to a steep slide in the company's share price, Raymond James lowered its rating for Cepheid's stock to Market Perform.
For the quarter ended Sept. 30, Cepheid reported preliminary revenue of approximately $126.5 million, shy of the Wall Street estimate of $127.8 million.
A number of firms now have FDA-approved Group A Strep assays, but end users may be hesitant to adopt them until Infectious Disease Society of America guidelines are updated.
The investment firm has added the three companies to its US Life Science Tools & Diagnostics coverage while upping Hologic to an Equal Weight rating.
The letter informed the firm that its production of Xpert Norovirus assays at the Solna, Sweden site does not conform to good manufacturing practice requirements.
The Xpert Omni platform will launch in 2016 running Cepheid test cartridges on a compact battery-operated device that is anticipated to cost less than $3,000.
The firm saw 24 percent growth in commercial clinical reagents revenues, while clinical systems revenue was down 23 percent.
Bio-Reference Laboratories, Cepheid, Exact Sciences, and NanoString all saw their shares rise in June. Sequenom topped the list of decliners.
Mainichi reports that 43 percent of Japanese individuals said they did not want to eat agricultural products that had been modified using gene-editing tools.
Two US Department of Agriculture research departments are moving to the Kansas City area, according to the Washington Post.
Slate's Jane Hu compares some at-home genetic tests to astrology.
In PLOS this week: analysis of polygenic risk scores for skin cancer, chronic pain GWAS, and more.