Invitae is working with Bristol Myers Squibb, Janssen, Novartis, and Genentech to advance an NGS panel to gauge the efficacy of AML treatments in trials.
The company aims to use the methylation technology from its multi-cancer screening assay to detect minimal residual disease in early-stage cancer patients.
In a note to investors, Piper Sandler analysts wrote that the upgrade reflects increased confidence in Grail and Illumina's core next-generation sequencing business.
Development revenues for the Seattle-based firm ticked up 5 percent to $15.0 million in Q3, partially offset by a 3 percent dip in sequencing revenues.
The startup aims to combine its microfluidic platform with a circulating tumor DNA-based assay offered by a potential partner and launch the test by 2022.
The company plans to show new data for its Signatera oncology test at three upcoming conferences this year, including in breast cancer and bladder cancer.
