Illumina, Inc. (NASDAQ:ILMN) shares are soaring as the company announced the NovaSeq Series.
The move is a human genome sequencing treatment that uses next-generation sequencing (NGS) technology to enable a $100 genome series. It is easier to use than current treatments.
The NovaSeq Series can also output higher sequencing, lower cost per sample, as well as improved flexibility. The Illumina plans include the NovaSeq 5000 and 6000 systems that will be shipped in March 2017 and mid-2017 respectively.
The move is part of a broader effort from the company to expand its portfolio. This portfolio consists of a number of systems that help to improve the workflow demanded by Illumina, as well as increase output.
Illumina believes that the NovaSeq Series will be more accurate in its ability to fulfill the demand required from its customers. The company added that the new treatment is the most powerful sequencer it has ever come up with.
In the long run, it will pave way for more detailed and comprehensive experiments for genetic variants. New instruments are being used to fulfill this task.
ILMN stock is up 16.9% Tuesday. The stock has performed especially well recently as the company has outperformed the Zacks Medical – Biomedical and Genetics Industry. The stock has resulted in a marginal return of 1.4% in the last six months, outperforming the industry-wide 2.8% margin decline.