Research Desk Line-up: iKang Healthcare Group Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 14, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for TrovaGene, Inc. (NASDAQ: TROV), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=TROV. The Company announced on July 12, 2017, that it has signed an agreement to sell its proprietary urine collection and nucleic acid preservation device, NextCollect™ with Novogene Co. Ltd for validation in the Chinese market. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Medical Laboratories & Research Industry. Pro-TD has currently selected iKang Healthcare Group, Inc. (NASDAQ: KANG) for due-diligence and potential coverage as the Company announced on June 22, 2017, its unaudited financial results for the fiscal Q4 and FY16 which ended on March 31, 2017. Tune into our site to register for a free membership, and be among the early birds that get our report on iKang Healthcare Group when we publish it.
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Details of the agreement
As per terms of the agreement, Trovagene will sell NextCollect™ urine collection and stabilization device along with the reagents and methods to extract cell-free DNA (cfDNA) from urine to Novogene. Novogene plans to validate the urine DNA extraction methods at their facilities. This includes their College of American Pathologists (CAP) accredited laboratory in Tianjin, China.
Trovagene plans to send the first lot of NextCollect™ to Novogene from July 2017 itself.
Commenting on the agreement with Novogene, Bill Welch, Trovagene's CEO said:
"We are excited to partner with Novogene, who is now the largest genomics service provider in the world. This agreement enables Trovagene to leverage Novogene's large next-generation sequencing capacity and bioinformatic services in China."
Dr. David Jiang, Senior Vice President of Corporate Development of Novogene added:
"We are delighted to work with Trovagene. We look forward to validating their proprietary urine collection, stabilization, and cfDNA extraction technology in our laboratories, and to developing innovative urine-based tests for the Chinese market."
About NextCollect™
NextCollect™ is a first of its kind, proprietary urine collection, and nucleic acid preservation device for research use only (RUO) by Pharmaceutical Companies, clinical research organizations and genomics laboratories. Designed to preserve ctDNA in urine for use by clinical reference laboratories, the NextCollect™ DNA preservation kit is compatible with DNA collection needs such as oncology, virology, urology, transplant, etc. The unique feature of NextCollect™ is that it stabilizes up to 200 ml of a urine sample for 2 weeks at room temperature, and can be directly incorporated into laboratory processing without the need for an initial sample transfer. When coupled with Trovagene's proprietary nucleic acid isolation methods, NextCollect™ enables a significant advancement in the quality and quantity of DNA isolated from urine.
About Trovagene
San Diego, California-based Trovagene is a precision medicine biotechnology Company developing oncology therapeutics for improved cancer care by leveraging its proprietary Precision Cancer Monitoring® (PCM) technology in tumor genomics. It is an industry leader in the area of urine and blood-based tumor genomic diagnostics. Trovagene has a broad intellectual property and proprietary technology to measure circulating tumor DNA (ctDNA) in urine and blood to identify and quantify clinically actionable markers for predicting response to cancer therapies. The Company has a CLIA/CAP-accredited laboratory for internal drug development programs.
Interestingly, Trovagene entered into an agreement with AstraZeneca in June 2017 for providing its Trovera® urine ctDNA biomarker test and services for a prospective biomarker study.
About Novogene
Beijing, China-based Novogene is a privately-owned Company. It is a leading provider of genomic services and solutions with cutting edge NGS and bioinformatics expertise and the largest sequencing capacities in the world. The Company was founded by Dr. Ruiqiang Li in 2011, who is a world-renowned expert in genomics and bioinformatics. Novogene is an Illumina Genome Network partner and has completed nearly 20,000 projects and sequenced 370,000 samples for more than 10,000 global customers. Novogene has over 1,300 employees worldwide and has branches in Hong Kong, the US, and UK. The Company has rapidly become a world-leader in NGS services.
Last Close Stock Review
On Thursday, July 13, 2017, the stock closed the trading session at $1.41, declining 2.76% from its previous closing price of $1.45. A total volume of 822.91 thousand shares has exchanged hands, which was higher than the 3-month average volume of 801.37 thousand shares. TrovaGene's stock price skyrocketed 56.67% in the last one month and 64.51% in the past three months. The stock currently has a market cap of $46.97 million.
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