Oct. 27 - Exact Sciences stock jumps after $2.15B Thrive buy, 87% revenue spike | LabCorp revenue soars on COVID-19 tests, returns federal bailout cash
LabCorp sees Q3 revenue rise 33%, but doesn't follow Quest in upping guidance; Neovasc refractory angina treatment faces FDA panel review; FDA grants 510(k) to Abiomed's artificial lung, teeing up use in COVID-19
The cancer diagnostics company is aiming to bolster its technology pipeline weeks after Illumina put up $8 billion to acquire liquid biopsy developer Grail.
CEO Adam Schechter said the testing giant is following its rival in returning CARES Act funds, given the spike in COVID-19 testing revenues and return of routine screenings.
The agency's ultimate approval decision on the Canadian company's CE-marked device has important financial implications for the medtech, which saw its revenue plunge and operating loss deepen in the second quarter.
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