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Waters

The index, which underperformed the Dow Jones and the Nasdaq, fell nearly 3 percent in April.

The company posted revenues of $513.9 million for the quarter compared to $530.7 million in Q1 2018, below the average Wall Street estimate of $545.3 million.

Developed in collaboration with Waters and Labcyte, the platform enables applications including high-throughput drug screening and metabolomic profiling.

Driven by strong pharma sales, revenues increased to $715 million from $687 million in Q4 2017, besting the consensus analyst estimate of $703 million.

The company's revenues were up, but fell short of Wall Street estimates as growth in the European market was hampered by lower sales to pharma customers there.

Waters said the acquisition is part of a strategy to develop simpler, more streamlined mass spec workflows that will be accessible to non-expert users.

The company posted Q2 revenues of $596.2 million, up from $558.3 million in Q2 2017, short of the average Wall Street estimate of $598 million.

As part of the deal, Waters has also placed a Synapt G2-Si mass spec instrument at Purdue University to help advance research applications for DESI.

Major releases were relatively sparse at ASMS as many vendors focused instead on the development of applications and workflows for their existing platforms.

Positive first quarter earnings reports lifted many stocks of life science tools firms even as the broader biotechnology market suffered.

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