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The Seattle-based genomics technology firm saw revenues grow 20 percent on a pro forma basis, driven by 60 percent growth in instrument revenue.
The Seattle-based genomics technology firm said it intends to use the funds for working capital and general corporate purposes.
The firm has partnered with Illumina to use the Dragen Bio-IT informatics platform to help customers analyze data from the new Cancer Transcriptome Atlas panel.
The Seattle firm saw consumables and collaboration revenues fall, however, the GeoMx spatial transcriptomics platform grew instrument revenue.
The firm remains on track to ship its first NGS-enabled instruments, along with its new cancer transcriptome atlas panel covering more than 1,800 genes, during Q3.
The company said its product and services revenues were about $24.5 million for the quarter, 15 percent higher than the same period last year.
The firm said current adoption is robust, but enabling readout on NGS instruments this summer will be crucial to opening a much larger customer base.
The company plans to market its GeoMx instruments for broader, more discovery-oriented research with a sequencing-based readout.
NanoString logged $30.6 million in revenues in the third quarter, beating the Wall Street estimate of $28.1 million.
New publications have provided more detailed examples of the platform's research utility and hinted at future clinical applications in immuno-oncology.
Bloomberg reports AstraZeneca may conduct another study of its candidate SARS-CoV-2 vaccine after dosing error.
Moderna is applying for an Emergency Use Authorization for its coronavirus vaccine, according to the New York Times.
The National Health Service is to conduct a trial of Grail's blood-based screening test for cancer.
In PLOS this week: somatic mutation patterns of glioblastomas among Lebanese patients, phenome-wide study using UK Biobank data, and more.