Illumina shares advance on Bristol-Myers cancer drug collaboration

Illumina Inc. shares rose in the extended session Friday after the DNA sequencing company and Bristol-Myers Squibb Co. announced they'll use Illumina's next-generation sequencing technology to develop cancer drugs at Bristol-Myers. Illumina shares rose 1.7% after hours, following a 0.3% decline to close at $241.44 Friday. The companies said they will use the Illumina TruSight Oncology 500 test to find genetic biomarkers to target in the development of cancer drugs. Bristol-Myers shares advanced 0.6% after hours, following a 0.3% decline to close at $58.65 in the regular session.