While NanoString will commercialize its nCounter for research use applications, Veracyte will move its current assays onto the platform to reach a global audience.
Veracyte has also acquired Nanostring's Prosigna breast cancer and LymphMark lymphoma assays and plans to develop diagnostic tests using the nCounter platform.
The GenomeWeb Index outperformed the Dow Jones and the Nasdaq, but underperformed the Nasdaq Biotechnology Index this month.
The assay, being developed in partnership with Johnson & Johnson, will complement computed tomography imaging by combining 26 genes and clinical variables for lung cancer detection.
For the three months ended Sept. 30, the firm reported total revenues of $31.0 million, beating analysts' average estimate of $30.1 million.
For the three months ended June 30, the genomic testing firm reported total revenues of $30.1 million.
The company plans to offer 5.5 million shares of its common stock at $23.25 per share, raising around $127.9 million.
The company will use the proceeds for working capital and to repay around $12.4 million of its term loan.
The company plans to present early data this year from its collaboration with Johnson & Johnson to develop a nasal swab-based lung cancer genomic classifier.
The company increased its 2019 revenue forecast and shrunk its net loss significantly in its push to become cash flow breakeven by the end of the year.
ScienceInsider reports that rude and unprofessional paper reviewers are common and can have harmful effects.
The US Senate has confirmed Stephen Hahn as the next commissioner of the Food and Drug Administration, according to the New York Times.
CNBC reports Apple is partnering with Color Genomics to offer its employees free DNA screening for disease.
In Science this week: researchers use CRISPR tool to find gut microbiome molecules involved in immunity, and more.