CombiMatrix's PGS approved by New York Department of Health
CombiMatrix announces that its pre-implantation genetic screening, or PGS, by next generation sequencing, or NGS, test has received conditional approval from the New York State Department of Health. The CombiPGS test is for women undergoing in vitro fertilization and screens embryo biopsy cells for chromosomal abnormalities prior to implantation of the embryo. The company said, "We are now marketing CombiPGS by NGS in New York State, which ranks second in the total number of IVF cycles performed nationally each year. For CombiMatrix, this is a promising cash-pay market that we estimate to be approximately $125M annually in the U.S. and growing. We expect CombiPGS will be an important contributor to revenue as we target cash flow breakeven by the Q4 of FY17."