Illumina enhances flagship cancer research assay with new features

SAN DIEGO - Illumina Inc. (NASDAQ:ILMN), a $17.3 billion market cap genomics leader with annual revenue of $4.3 billion, announced Wednesday the launch of TruSight Oncology 500 version 2 (TSO 500 v2), an updated version of its comprehensive genomic profiling assay for cancer research. According to InvestingPro data, the company maintains a strong gross profit margin of 69%, demonstrating its operational efficiency in the competitive genomics market.

The new version includes built-in homologous recombination deficiency (HRD) biomarker detection at no additional cost, requires less tissue sample input, and offers faster turnaround times compared to its predecessor, according to the company’s press release. While Illumina has faced profitability challenges in recent quarters, InvestingPro analysis indicates analysts expect the company to return to profitability this year, with several more insights available to subscribers.

TSO 500 v2 assesses hundreds of genes across all variant classes and immuno-oncology biomarkers from a small tissue sample to support therapy selection research. The HRD analysis is powered by Myriad Genetics’ Genomic Instability Scoring algorithm.

"We found improved accuracy of data results with TSO 500 v2 compared to our current solution from a different vendor," said Weiyi Chen, Technical Director of Molecular Diagnostics at siParadigm Diagnostic Informatics, who participated in early testing of the product.

Additional improvements include a streamlined workflow that reduces hands-on time, sensitive variant calling, improved coverage of difficult genomic regions, and enhanced sustainability with 50% less packaging and 70% fewer tubes. The system also features color-coded tubing for improved usability.

The assay is compatible with both high and mid-throughput sequencers and includes integrated data analysis capabilities.

Illumina’s oncology portfolio includes both research-use-only products like TSO 500 and in vitro diagnostic solutions across various instrumentation platforms. The company also offers targeted molecular profiling tests through a partnership with Pillar Biosciences.

Comprehensive genomic profiling is used in cancer research to provide molecular tumor profiles that can help advance therapy selection research and determine clinical trial eligibility. For investors interested in deeper analysis of Illumina’s market position and growth potential, InvestingPro offers a comprehensive research report with detailed financial metrics and expert insights, along with 10 additional ProTips not covered in this article.

In other recent news, Illumina has been active with significant developments impacting its operations and market perception. The company is set to acquire SomaLogic from Standard BioTools for up to $425 million in cash. This transaction includes $350 million upfront and potential milestone payments of $75 million, along with royalties for certain product sales. Meanwhile, Illumina has faced scrutiny from analysts, with Scotiabank downgrading its stock from Sector Outperform to Sector Perform, citing valuation concerns despite a positive outlook for the next-generation sequencing market.

Additionally, Citi has downgraded Illumina from Neutral to Sell, expressing concerns about the company’s second-half outlook, though it anticipates in-line results for the second quarter. Citi’s analyst Patrick Donnelly also reduced the price target for Illumina to $80, suggesting a potential downside. In contrast, Bernstein has expressed optimism about the broader Life Science Tools sector, hinting at possible recovery despite recent stock declines. These developments reflect a complex landscape for Illumina, with strategic acquisitions and varied analyst opinions shaping its future trajectory.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.