CareDx likely saw its share price increase due to the finalized limited coverage decision from Medicare Administrative Contractor Palmetto GBA for molecular tests to evaluate and manage solid organ transplant patients.
Once the acquisition is complete, DiaSorin said the combined entity will have 2020 revenues of around €1.25 billion and is expected to provide cost synergies of about $55 million within three years of closing.
Burning Rock Biotech benefited last month from an evaluation by a group, led by the US Food and Drug Administration, of the performance of research-use-only liquid biopsy next-generation sequencing tests, including Burning Rock’s Lung Plasma V4, to detect mutations in ctDNA at different variant allele frequencies.
The firm also announced in late April that it had entered a strategic partnership with Abbisko Therapeutics to develop a companion diagnostic test for the pharmaceutical company’s small molecule FGFR inhibitor, ABSK091.
Among the decliners, there is no clear reason for Meridian’s drop in share price last month, as its only news was the announcement that it had submitted a test for the detection of Campylobacter species to the US FDA for 510 clearance.
The firm reached agreements for $137.5 million in new financing that will extend the maturity date of existing debt instruments to 2026.