Illumina Inc. ($ILMN) has shown encouraging stock price movement in the new year. Its stock is 27% up on year to date basis, thanks to positive news from the company. Illumina recently announced the launch of a new DNA sequencer with new architecture. The company said that the new architecture may lower the costs of decoding human genome considerably. Illumina is of the view that the costs may become as low as $100.
The new DNA sequencers NovaSeq 5000 and NovaSeq 6000 have lower per sample consumable costs. The company said that the new sequencer systems will help in creating in new markets as these can make routine a wide range of applications, such as ultra-deep sequencing of matched tumor-normal pairs and large-scale variant discovery studies associated with complex diseases.
The company also reported its collaboration with IBM for bundling the latter company’s Watson Genomics product with Illumina’s TruSight Tumor 170, a tool for matching cancer patients with relevant drugs.
Illumina provided upbeat guidance for its fourth quarter. The company expects its fourth quarter revenue to touch $619 million figure, above the consensus revenue of $612.8 million. It also expects the revenue to grow 10% to 12% during year 2017.