Illumina Inc - ILMN STOCK NEWS

Illumina and researchers from the University of Colorado and HPHC reported that expanding insurance coverage of non-invasive prenatal testing (NIPT) for women under 35 significantly increased access without substantially raising costs, boosting costs by less than 3 cents per member per month. The study, published in PharmacoEconomics, is the first to analyze a value-based agreement between a bio/medical technology firm and a payer. As more payers are expected to follow suit, the findings highlight the economic viability of providing NIPT to a wider demographic, enhancing overall prenatal care.

Illumina's NextSeq 550Dx platform and MiSeqDx reagents have received medical device registration in Russia, facilitating the growth of sequencing-based clinical diagnostics. The approvals, led by strategic partner R-Pharm, enable the development of diagnostic solutions for genetic diseases and oncology. The NextSeq 550Dx is designed for large hospitals, while the MiSeqDx is suitable for standard clinical centers, enhancing accessibility to NGS technologies for patients in Russia.

Illumina reported record fourth-quarter revenue of $953 million, a 20% increase from Q3 2020 and slightly higher than 2019. GAAP net income for the quarter was $257 million ($1.75/share), up from $239 million ($1.61/share) year-over-year. However, non-GAAP net income decreased to $179 million ($1.22/share) from $252 million ($1.70/share). Full-year revenue dropped 9% to $3,239 million, and GAAP net income fell to $656 million from $1,002 million in 2019. The company projects 2021 revenue growth of 17% to 20% and earnings per share of $4.76 to $5.01.

Illumina (NASDAQ:ILMN) announced its executives will speak at two upcoming investor conferences. The first event is the SVB Leerink Annual Global Healthcare Conference on February 25, 2021, at 12:00 PM PT. The second is the Cowen Annual Health Care Conference on March 2, 2021, at 9:50 AM PT. Investors can join the webcasts via the company's website, where replays will be available for 30 days post-event. Illumina is a leader in DNA sequencing technologies, serving various markets including oncology and agriculture.

Illumina (NASDAQ: ILMN) has announced the selection of nine new genomics startups for its second global funding cycle of Illumina Accelerator in the U.S. and UK. The company secured over £20 million in UK capital commitments from investors, including a £10 million commitment from LifeArc. These funds will match investments for Accelerator graduates, enhancing support for genomics innovations. Illumina Accelerator offers startups seed investments, access to technologies, and operational support. Applications for the next funding cycle are open until March 1, 2021.

Illumina (NASDAQ:ILMN) has partnered with the Belgian Society of Medical Oncology to launch the BALLETT study, aimed at evaluating comprehensive genomic profiling (CGP) in 864 patients with advanced metastatic cancer. Beginning next month, the study will involve twelve sites offering CGP using Illumina's TruSight™ Oncology 500 and sequencing platforms. This initiative seeks to enhance patient treatment options through targeted therapies, leveraging genomic data to improve clinical outcomes and establish a national genomic tumor database in Belgium.

Illumina (NASDAQ: ILMN) has partnered with Sequoia Capital China to launch the Sequoia Capital China Intelligent Healthcare Genomics Incubator, aimed at fostering genomics startups in China. This incubator will provide startups with resources like investment guidance, access to sequencing systems, and operational lab space in Shanghai. The inaugural funding cycle begins in Fall 2021, with applications open until June 1, 2021. Illumina's leadership in DNA sequencing and its successful previous incubators will support this initiative to enhance genomic innovations in a vibrant startup ecosystem.

Illumina, Inc. (NASDAQ:ILMN) is set to announce its fourth quarter and full year 2020 results on February 11, 2021, after market close. A conference call will follow at 2:00 PM PT (5:00 PM ET), hosted by CEO Francis deSouza and CFO Sam Samad, to discuss financial results and operational updates. Participants can join via the company's investor section or by dialing in. A replay of the call will be available on Illumina's website for 30 days.

Illumina (NASDAQ: ILMN) announced a favorable judgment from the High Court of Justice in a patent infringement case against BGI Companies, including MGI Tech. The Court affirmed the validity of four out of five asserted patents, confirming that BGI’s StandardMPS and CoolMPS systems infringe Illumina’s proprietary technologies. A preliminary injunction was issued against BGI in the UK, and Illumina plans to seek a permanent injunction to prevent BGI from selling the infringing products. Similar injunctions were previously issued in other countries against BGI.