Meridian Bioscience

Meridian CEO Jack Kenny said the firm needs to develop a new MDx platform, while Genapsys resurfaced with an update on its portable sequencing platform.

The company's CEO noted softness in both its diagnostics and life science segment. The projected revenues would fall short of the consensus Wall Street estimate.

PacBio's shares skyrocketed 76 percent in November on the news that Illumina plans to acquire the firm for $1.2 billion in cash.

The molecular test detects a form of herpes virus that can infect newborns and cause deafness.

In the firm's first-ever earnings call, new CEO Jack Kenny said the firm will invest more in R&D to revamp its aging portfolio.

The firm saw strong growth in respiratory illness assays and lead testing, which was offset by a decline in C. difficile testing.

Smaller multiplex molecular panels of five or fewer targets will be covered, while a determination of gastrointestinal panel coverage is expected soon.

Meridian's diagnostics revenues grew 1 percent year over year to $36.4 million while its life science revenues jumped 8 percent to $15.4 million.

The firm saw modest growth in both its life science and diagnostics divisions and increased its guidance for the year.

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