Qiagen

In 2018 Qiagen purchased a 19.9 percent stake in Ann Arbor, Michigan-based NeuMoDx along with the right to acquire the remaining shares.

An expanded agreement grants Qiagen a non-exclusive development license to Bio-Techne's exosome technology for the development of companion diagnostic products.

JPM moved to an Overweight rating on both companies from a Not Rated designation assigned during a restriction period as Thermo Fisher's potential acquisition of Qiagen played out.

Qiagen shareholders tendered only 47 percent of the firm's issued and outstanding shares by Monday's deadline, short of the two-thirds minimum needed to complete the deal.

HTG will work directly with biopharma customers to build companion diagnostic development programs, with potential tests developed using either a Thermo Fisher Scientific or Illumina platform.

On an adjusted basis at constant exchange rates, revenues grew 19 percent year over year, in line with guidance provided by the company in early July.

According to the registry's first dataset, more than 65 million tests have been manufactured and shipped across the US.