Illumina Inc. /zigman2/quotes/203509482/composite ILMN +4.13% recently announced an agreement with Israel's Ministry of Health (MoH) for a pilot program to implement the use of whole-genome sequencing (WGS) in critically-ill infants suspected of having a genetic disorder in neonatal intensive care units (NICU). The program, led by the Genetics Institute (Tel-Aviv Sourasky Medical Center), will evaluate the use of WGS in routine care as an effective first-tier diagnostic tool to enable faster identification of disease-causing genetic abnormalities in infants, aiding their clinical care and management.
"Evidence from other countries shows that whole-genome sequencing offers significant benefits for the diagnosis of suspected genetic disease in critically-ill infants. Based on this international experience, our aim is to implement and provide this approach as a diagnostic assay in all neonatal intensive care wards, ideally replacing the routine diagnostic tests currently used," said Dr. Amihood Singer, Head of Community Genetics Department at the Ministry of Health, Israel.
Even in light of this news, ILMN hasn't really done much of anything over the past week, with shares logging no net movement over that period. ILMN shares have been relatively flat over the past month of action, with very little net movement during that period.
Illumina Inc. /zigman2/quotes/203509482/composite ILMN +4.13% managed to rope in revenues totaling $1.1B in overall sales during the company's most recently reported quarterly financial data — a figure that represents a rate of top line growth of 77.9%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($4.3B against $874M).
Other compelling names in the biotech space include Ocugen Inc. /zigman2/quotes/208160861/composite OCGN +4.98% , Vertex Pharmaceuticals Inc. /zigman2/quotes/202259802/composite VRTX +0.80% , and COMPASS Pathways PLC ADR /zigman2/quotes/204069138/composite CMPS +2.95% .
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