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December 4, 2012
11:30 EDTDGXQuest Diagnostics 'Clinical Trials' biorepository gets CAP accreditation
Quest Diagnostics announced that the specimen biorepository of its Quest Diagnostics Clinical Trials business has been accredited by the College of American Pathologists, CAP) the international laboratory accrediting organization.
News For DGX From The Last 14 Days
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October 6, 2015
12:49 EDTDGXIllumina plummets after 2H15 revenue forecast trails estimates
Shares of Illumina (ILMN), which produces tools for genetic analysis, are sinking after the company forecast lower than expected revenue for the third and fourth quarters. Illumina also lowered its fiscal 2015 revenue growth forecast to 18% from 20%. WHAT'S NEW: Illumina yesterday announced preliminary Q3 revenue of approximately $550M, below analysts' consensus estimates of $568.6M. Additionally, the company forecast Q4 revenue of approximately $570M, well below analysts' estimates of $602.83M. Illumina also lowered its forecast for 2015 revenue growth to approximately 18% from its prior view of approximately 20%, including a 3% negative impact from foreign exchange, against analysts' consensus estimates of $2.25B. WHAT'S NOTABLE: Jay Flatley, Illumina's chief executive officer, noted that although the company saw strong demand for sequencing consumables and the HiSeq family of instruments in Q3, instrument sales in the desktop family underperformed company expectations. He said management was "disappointed with instrument sales in Europe and continued weakness in the Asia-Pacific region." Flatley said that the new markets the company is targeting are "enormous," and will support revenue growth for Illumina in 2016 and beyond. The company is expected to provide updated earnings per share guidance on October 20, when the company reports Q3 results. ANALYST REACTION: Sentiment on the Street was mixed at midday. Research firms Mizuho and BTIG downgraded Illumina to Neutral from Buy. In addition, UBS, Stifel, and Cowen all lowered their respective price targets on Illumina shares. Conversely, Piper and Wells Fargo said they would be buyers of Illumina on today's weakness. Another firm, Canaccord, said the Illumina news not all bad and maintained its Buy rating and $250 price target on Illumina shares. PRICE ACTION: In midday trading, Illumina fell $23.17, or about 14.2%, to $140.01 on more than six times its average daily trading volume. Including today's pull back, the shares have lost approximately 14% over the past 12 months. OTHERS TO WATCH: Other companies in the diagnostic business include Affymetrix (AFFX), down 4.1%, HTG Molecular Diagnostics (HTGM), down 4.2%, Quest Diagnostics (DGX), down 3.5%, Pacific Biosciences (PACB), down 2.4%, and Thermo Fisher Scientific (TMO), down 2.7%.
12:29 EDTDGXFDA clears Focus Diagnostics' Simplexa flu test to include new strains
Focus Diagnostics, the products business of Quest Diagnostics, announced that its Simplexa Flu A/B & RSV Direct Kit has received 510k clearance from the U.S. Food and Drug Administration for 46 additional influenza A and influenza B virus strains and 7 additional respiratory syncytial virus strains. The FDA granted 510k initial clearance to the Simplexa test kit for select virus strains in July 2012 and clearance of some additional strains in 2014. With the recent clearance, the Simplexa test can detect a total of 92 influenza and RSV virus strains, more than any other FDA-cleared molecular test kit. These include all four influenza strains the World Health Organization recommends be included in vaccines during the northern hemisphere's 2015-2016 influenza season: A/Switzerland/9715293/2013 H3N2-like virus; A/California/7/2009 H1N1-like virus, B/Phuket/3073/2013-like virus and B/Brisbane/60/2008-like virus. In addition, the 46 new influenza strains include 20 avian influenza A and two swine influenza virus strains. These may be increasingly important to detect, as avian and swine influenza viruses can carry over into human populations.
October 2, 2015
15:43 EDTDGXQuest Diagnostics introduces Dako's PD-L1 companion diagnostic for KEYTRUDA
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