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Waters

Organic revenues were up 2 percent, as the company saw solid demand among its pharma customers but a decline in sales of its mass spectrometry instruments.

Driven by strong pharma sales, the company's revenues rose to $687 million from $629 million in Q4 2016, besting the consensus analyst estimate of $669 million.

Developed by researchers at the University of Michigan, the software could help drive uptake of ion mobility mass spec within the top-down proteomics field.

The company entered an agreement with JP Morgan Chase that provides a five-year unsecured $300 million term loan and a $1.5 billion revolving facility.

The index gained more than 3 percent, significantly outperforming the Nasdaq Biotechnology Index, but slightly underperforming the Dow and Nasdaq.

Waters experienced some sluggishness in the US market in the quarter, and the firm noted that its pharma business, in particular, had seen a shift toward Europe.

The agreement brings together Biognosys' Spectronaut Pulsar DIA software and Waters' SONAR data-independent acquisition mass spectrometry method.

The company posted Q2 revenues of $558.3 million, up from $536.6 million in Q2 2016 and beating the average Wall Street estimate of $553.1 million.

Waters has obtained a non-exclusive license to the technology, which allows researchers to create internal standard calibration curves for their assays.

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