GenMark

Overall, GenMark's ePlex Respiratory Pathogen Panel 2 provides results for more than 20 viruses and bacteria, including SARS-CoV-2, flu A and B, RSV, and rhinovirus.

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.

GenMark has two SARS-CoV-2 tests that have received FDA Emergency Use Authorization, including a respiratory panel that tests for 21 pathogens.

The firm anticipates that Q2 2020 revenues associated with its ePlex tests would increase by about 195 percent compared to Q2 2019.

The index outperformed the Dow Jones, the Nasdaq, and the Nasdaq Biotechnology Index in the first half of the year.

The GenomeWeb Index rose more than 2 percent in June, but the increase was subdued compared to the index's 9 percent climb in May and 18 percent hike in April.

The GenomeWeb Index rose more than 9 percent in May, following an 18 percent climb in April, a marked contrast to its negative performance in February and March.

GenMark said it intends to use the proceeds for general corporate purposes that may include an expansion of its menu and increasing its manufacturing capacity.