Biocept will use its liquid biopsy assay to test cerebrospinal fluids of patients diagnosed with certain cancers and then compare results to standard methods.
The company posted $25.8 million in revenues for the quarter, up from $19.6 million a year ago, as total genomic test volume grew 28 percent to 9,154 tests.
Researchers will first compare liquid with tissue-based tumor profiling before implementing it as a way to enroll patients into the targeted drug trials.
An analyst said the DetermaVu test could potentially be best in class for lung cancer diagnosis and that CMS could begin reimbursing for it in late 2020.
The company will use proceeds to support commercialization of its lung cancer liquid biopsy test, and to fund studies to cement reimbursement and adoption.
In a recent publication, the researchers assessed clinical data from 3,000 late-stage NSCLC patients after performing DNA and RNA sequencing on their tissue samples.
The test showed 90 percent sensitivity and 75 percent specificity in a 250-patient blinded study, even without the addition of clinical risk information.
An international commission is to develop a report on how researchers, clinicians, and regulators should evaluate the clinical applications of human germline genome editing.
In Genome Research this week: repetitive element deletion linked to altered methylation and more in form of muscular dystrophy; human contamination in draft bacterial and archaeal genomes; and more.
