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Illumina Offers FDA-Approved NGS Cancer Companion Test Kit

Global leader in the field of DNA sequencing and array-based technologies, Illumina, Inc. ILMN recently announced that its FDA-approved next-generation sequencing (NGS) -- Extended RAS Panel has met the Current Colorectal Cancer Guidelines. This new kit fulfills the most up-to-date guidance for RAS testing to determine eligibility of epidermal growth factor receptor (EGFR) inhibitors in metastatic colorectal cancer. This product also offers extended gene coverage that implies the simultaneous detection of 56 RAS mutations contraindicated for anti-EGFR therapy. This product also helps in Integrated Workflow by providing comprehensive diagnostic solution which includes library prep, sequencing and clinical report.

This Extended RAS Panel kit is intended to be used on the Illumina MiSeqDx System to detect patients who are eligible for metastatic colorectal cancer treatment with Vectibix. Notably, Vectibix represents an innovative treatment option for first-line treatment for patients with wild-type RAS metastatic colorectal cancer (mCRC).

Per management, the Extended RAS Panel paves the way for broader-based genomics solutions as a first companion diagnostic and Pre-Market Application (PMA) approval in Oncology. The shipment of this kit will start in the third quarter of 2017.

According to Markets and Markets, the global next-generation sequencing market is estimated to reach a worth of $12.45 billion by 2022, at a CAGR of 20.5%.

For the majority of the past one year, Illumina has been trading above the Zacks categorized Medical - Biomedical And Geneticsindustry. The company has gained 23.3%, when compared to the 1.5% gain of the broader industry.

Recent Developments

Illumina recently announced the launch of a solution under its noninvasive prenatal testing (NIPT) kit in Europe. VeriSeq NIPT solution is a CE-IVD marked next-generation sequencing (NGS)-based approach to NIPT. The solution helps laboratories screen accurate information about fetal chromosome status as early as one day.

Zacks Rank & Key Picks

Illumina currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Align Technology, Inc. ALGN, Inogen, Inc. INGN and Accelerate Diagnostics, Inc. AXDX. Notably, Inogen sports a Zacks Rank #1 (Strong Buy), while Align Technology and Accelerate Diagnostics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Align Technology has an expected long-term adjusted earnings growth of almost 24.1%. The stock has added roughly 29.9% over the last three months.

Inogen has a long-term expected earnings growth rate of 17.5%. The stock has gained around 24.4% over the last three months.

Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock has added roughly 9.8% over the last three months.

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Inogen, Inc (INGN): Free Stock Analysis Report
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