GenMark Diagnostics, Inc. (GNMK)

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GenMark Diagnostics rebounds off lows but remains down over 25% following customer announcement (11.33 -3.80)
GenMark Diagnostics is down over 20% today. This morning Natural Molecular Testing Corporation, a privately-owned company providing clinical diagnostic molecular testing and services in the medical genomics field, announced the launch of their laboratory developed comprehensive Personalized Medicine Panel. This cardiac panel, commercialized by Natural Molecular, is comprised of 42 targets and built using Luminex Corporation's (LMNX) xMAP Technology. This can be seen as a negative to GenMark because Natural Molecular is a large customer for GenMark and some of the Luminex technology may overlap with GenMark's products. In it's most recent 10-Q filing GenMark said, "We have one large customer, Natural Molecular Testing Corporation, which accounted for approximately 62% of our total revenue for the three months ended March 31, 2013. " Analysts at Piper Jaffray noted that GenMark recently signed a 4-year rental deal with Natural Molecular, so it is unclear what impact the Luminex deal will have. More clarity should come tomorrow as the company is scheduled to present at 5:00 p.m. EST at the William Blair 33rd Annual Growth Stock Conference.

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