The investment bank called Genomic Health a leader in diagnostic testing and said Invitae will benefit from growth trends in the genetic testing sector.
The app provides results for 15 genetic conditions in the areas of carrier screening, genetic disease risk, medication response, and health-related traits.
During the quarter, the number of billable tests delivered rose to 5,700, and the CEO said that recent investments in the firm were showing a positive impact.
Cooper took a $24.4 million impairment charge in the second quarter on the intangible assets it acquired in 2016 from carrier screening firm Recombine.
The firm reported selling more billable tests in Q1 than any previous quarter and said that it is starting to see momentum in new initiatives, such as carrier screening.
The $375 million deal marks the integration of Myriad, a leader in the hereditary cancer genetic screening market, with Counsyl, a leader in reproductive genetic screening.
Myriad will merge Counsyl’s reproductive tests with its preventive care business unit into a new business unit called Myriad Women’s Health.
Researchers from the molecular diagnostics firm said their screen could identify a range of variant types to boost the identification of at-risk couples.
Seventy-eight percent of participants had at least one positive carrier screening result and 3.5 percent had a medically actionable secondary finding.
The company delivered 4,621 billable tests during Q1, and billable testing volume was the highest in a quarter in Fulgent's history.
The Economist reports that it is increasingly easier to analyze the metabolites people give off, potentially revealing personal information about them.
A controversial paper on the gender gap in science has been corrected, according to BuzzFeed News.
The Los Angeles Times reports that only a third of California students meet the state's new science standards.
In Science this week: evidence of interbreeding between the ancestors of West Africans and an unknown archaic human, and more.