JP Morgan Healthcare Conference

The sequencing company reported preliminary fourth quarter revenues of $27 million and said it currently has $318 million in cash and investments.

The firm plans to begin its OTC efforts with a COVID antigen test but also sees potential in migrating other infectious disease tests.

Qiagen's CEO discussed the company's focus on specific growth drivers, while Invitae's CEO talked about pandemic-related challenges in its genetic testing business.

Last year, the company processed more than 1 million tests, most of them for its reproductive health business, but interest in Prospera and Signatera is growing. 

The firm also provided preliminary revenues of $950 million for Q4 and reinstated guidance of $3.79 billion to $3.88 billion for 2021.

The company anticipates total revenues of $3.9 billion for 2020, including $1 billion from its COVID-19-related business.

The GenomeWeb Index fell 2 percent, outperforming the Nasdaq Biotechnology Index but doing worse than the Dow Jones and the Nasdaq.