Shares of Illumina were surging Tuesday after the DNA sequencing company said late Monday it introduced its NovaSeq next-generation sequencing architecture, which is expected to one day enable a $100 genome.

Described as the most powerful sequencer that the company has ever launched, NovaSeq was designed to allow researchers “to access next-generation sequencing technology and more easily conduct large-scale genomics projects with greater sample volumes, or more breadth and depth in the genome.”

The NovaSeq Series includes the NovaSeq 5000 and 6000 systems, which are priced at $850,000 and $985,000, respectively. The 5000 system is slated to begin shipping in mid-2017 and the 6000 system is expected to begin shipping in March.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings with MarketBeat.com’s FREE daily email newsletter.