Complete Genomics Pops 30% on New Technology Development
Shares of Complete Genomics (NASDAQ: GNOM) are seeing increased strength during Wednesday's trading session after the company announced a new technology development.
Complete Genomics announced that its Long Fragment Read (LFR) technology for whole genome sequencing dramatically improves accuracy, enables fully-phased genomes, and significantly reduces the amount of DNA required for testing. Complete's LFR technology should accelerate the use of whole genome sequencing by physicians to diagnose and treat their patients.
"We expect the introduction of this technological breakthrough to accelerate the move of whole genome sequencing into patient care, which in turn will begin to change the face of medicine," said Dr. Clifford Reid, Complete Genomics' chairman, president and CEO.
Wednesday, shares of Complete Genomics were trading up over 29 percent, at about $2.64 per share.
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