Illumina [NASDAQ: ILMN] Receive Medical Device Registration In Russia

Illumina, Inc. [NASDAQ: ILMN] revealed Friday that its NextSeq 550Dx platform and associated reagent kits have obtained the medical device registration in Russia. The MiSeqDx instrument is the in vitro diagnostic platform for NGS of ILMN which has got reagent NextSeq.

Both the sequencing and the reagent have obtained the medical device registration. MiSeqDx has obtained the device registration earlier. Russian medical devices authority, Roszdravnadzor has provided the medical registration to both the sequencing platform and the reagents separately. Clients and third-party developers will be able to access these two in-vitro solutions soon.

The tactical collaborator of ILMN, R-Pharm has controlled the regulatory process this is the first authorization of full sets of sequencing devices plus reagents. The partnership of R-Pharm will be very helpful for the sufferers of Russia to get the innovative cure.

Shares of Illumina headed lower to 4.03% as it lost -16.80 during the trading session of Thursday. Its share went from the low point around $196.78 from its 52-week low range and recorded the high range of $555.77. Looking at its liquidity, it has a current ratio of 3.60 and a quick ratio is also the same as the current ratio. ILMN has a total market capitalization of $59.16 billion at the time of writing.

This is the greatest accomplishment of the firm and will be a great lift to testing for genetic diseases and oncology in Russia as the two IVD-platforms are currently available to assay developers to develop the clinical use of NGS molecular diagnostics.