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FDA OKs the use of Ignyta's investigational next-gen sequencing assay as a companion diagnostic in mid-stage study of entrectinib; shares up 4% premarket

Thinly traded micro cap Ignyta (NASDAQ:RXDX) is up 4% premarket, albeit on only 1,232 shares, in response to its announcement that the FDA has approved its IDE (investigational device exemption) for its companion diagnostic next-generation sequencing (NGS) assay, Trailblaze Pharos. The company intends to use it to identify patients with NTRK1/2/3-, ROS1- or ALK-positive solid tumors to determine eligibility in its Phase 2 STARTRK-2 clinical trial evaluating lead product candidate entrectinib in a range of cancers...