The company posted Q1 revenues of $7.5 million, up from $5.3 million in Q1 2017 and above the consensus Wall Street estimate of $7.1 million.
The effort will use Quanterix's Simoa technology and will focus initially on development of an assay for measuring the liver toxicity biomarker microRNA-122.
Near-term the deal gives Quanterix a CLIA lab while securing technologies that could improve assay multiplexing and support its longer term clinical goals.
The company posted Q4 revenues of $6.6 million, down from $6.7 million in Q4 2016 and shy of the consensus Wall Street estimate of $6.7 million.
The company said its recent $74 million IPO was done largely to drive awareness among biotech and pharma firms of its ultrasensitive immunoassay technology.
Among the firms reporting, BGI talked about plans to cut down the time and cost of its WGS service, and Invitae's CEO made a surprising proclamation about genetic testing.
Cowen and Leerink rated Quanterix at Outperform while JP Morgan initiated coverage with an Overweight rating — the banks managed the company's $74 million IPO.
The firm sold more than 4.9 million shares of common stock at $15 per share, raising $73.7 million to expand its commercial operations and grow its technology.
The firm plans to use the proceeds to expands its commercial operations, expand its existing technology, and support the launch of its new platform.
The new SR-Plex system comes without integrated sample prep, making it less expensive and more amenable to non-protein work like nucleic acid assays.
Lawmakers have asked four direct-to-consumer genetic testing companies to explain their privacy policies and security measures, according to Stat News.
The Trump Administration has proposed a plan to reorganize the federal government, the Washington Post reports.
In Science this week: genetic overlap among many psychiatric disorders, and more.
The Economist writes that an increasing number of scientific journals don't do peer review.