CombiMatrix's (CBMX) CombiPGS Test Receives Conditional Approval in New York
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
CombiMatrix Corporation (Nasdaq: CBMX) announces that its pre-implantation genetic screening (PGS) by next generation sequencing (NGS) test has received conditional approval from the New York State Department of Health. The CombiPGS™ test is for women undergoing in vitro fertilization (IVF) and screens embryo biopsy cells for chromosomal abnormalities prior to implantation of the embryo. The test assists in maximizing the chance of successful implantation and pregnancy progression, while decreasing the likelihood of miscarriage.
“We launched CombiPGS using NGS technology in June of this year as NGS allows for unequaled accuracy and sensitivity in the detection of whole chromosome and segmental aneuploidies, which is crucial in providing the highest quality results for this test,” said Mark McDonough, President and Chief Executive Officer of CombiMatrix. “CombiPGS by NGS is an important upgrade to our portfolio of reproductive health tests and we are pleased by the strong reception it has received from reproductive endocrinologist and IVF physicians who are key call points for this test.
“We are now marketing CombiPGS by NGS in New York State, which ranks second in the total number of IVF cycles performed nationally each year. With this approval, physicians and their patients across the U.S. can access our full portfolio of reproductive health tests and capitalize on our industry-leading experience and our high-touch clinical support. For CombiMatrix, this is a promising cash-pay market that we estimate to be approximately $125 million annually in the U.S. and growing. We expect CombiPGS will be an important contributor to revenue as we target cash flow breakeven by the fourth quarter of 2017."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Network-1 Technologies (NTIP) Approves Initial 5c Semi-Annual Dividend
- Ascena Retail Group (ASNA) Announces David Jaffe as Chairman of the Board
- Flowers Foods (FLO) and Flowers Baking Reach Settlement in Class Action Lawsuit
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!