Fulgent Genetics Stock Price, News & Analysis

Fulgent Genetics (NASDAQ: FLGT) has announced it will release its third quarter 2024 financial results before the market opens on Friday, November 8, 2024. The company, which operates a laboratory services business and a therapeutic development business, will host a conference call for investors at 8:30 AM ET (5:30 AM PT) on the same day.

Management will discuss the results and answer questions during the call. Investors can access the live audio webcast through the Investor Relations section of Fulgent's website at http://ir.fulgentgenetics.com. An audio replay will also be available at the same location following the call.

Fulgent Genetics (NASDAQ: FLGT) reported Q2 2024 financial results with total revenue of $71.0 million. Core Revenue grew 5% year-over-year to $70.2 million. The company reported a GAAP loss of $8.7 million, or ($0.29) per share, and Non-GAAP income of $4.7 million, or $0.15 per share. Fulgent reiterated its Full Year 2024 Core Revenue Guidance of $280 million and improved its Earnings Per Share Guidance. The company maintains a strong cash position with $837.9 million in cash, cash equivalents, and investments as of June 30, 2024. Fulgent's Laboratory Services continue to show strength, particularly in Precision Diagnostics, while its Therapeutics Development segment progresses with clinical trials.

Fulgent Genetics (NASDAQ: FLGT) will announce its second quarter 2024 financial results on Friday, August 2, 2024, before the market opens.

The company will host a conference call for investors at 8:30 AM ET (5:30 AM PT) on the same day to discuss the results and answer questions.

The live audio webcast and replay will be accessible on Fulgent's Investor Relations website.

Fulgent Pharma, a subsidiary of Fulgent Genetics (NASDAQ: FLGT), presented Phase 1 clinical data on FID-007, its lead therapeutic oncology candidate, at the ASCO Annual Meeting on June 2, 2024. The study involved 11 patients with head and neck squamous cell carcinoma (HNSCC). Results showed a 45% partial response (PR) rate and a 27% stable disease (SD) rate. Three out of five patients with PR had previously been treated with taxane. The follow-up duration ranged from 1 to 15 months, and no high-grade neuropathy was observed. FID-007 demonstrated preliminary antitumor activity and lower toxicity. Fulgent has initiated a Phase 2 study of FID-007 in combination with cetuximab for HNSCC patients.

Fulgent Pharma, a subsidiary of Fulgent Genetics (NASDAQ: FLGT), announced the presentation of Phase 1 clinical data on its lead oncology candidate, FID-007, at the ASCO 2024 Annual Meeting. FID-007, a novel nanoparticle paclitaxel formulation, is being studied for the treatment of head and neck squamous cell carcinoma. The presentation will take place on June 2, 2024, in Chicago, Illinois, in a poster session during the Head and Neck Cancer track. Specific details include the abstract title, session, date, time, and poster board number.

Moffitt Cancer Center and Fulgent Pharma, a subsidiary of Fulgent Genetics (NASDAQ: FLGT), have announced a strategic partnership aimed at advancing cancer treatment. This collaboration combines Moffitt’s clinical capabilities with Fulgent’s nanotherapeutics and genomics platforms to accelerate the development of personalized cancer therapies.

Under the agreement, Moffitt will provide Fulgent with priority access to its clinical resources to expedite the advancement of Fulgent’s clinical pipeline. Fulgent's nanoencapsulation technology has already transformed paclitaxel into the soluble FID-007, showing substantial tumor reduction in Phase 1 studies.

The partnership will also co-develop next-generation personalized treatment options, leveraging Moffitt's scientific expertise and Fulgent's nano-particle-based drug development platform and genetic testing capabilities.

Brixton Biosciences has announced a successful Series B funding round, raising $33M. The funds will be used to advance their Neural Ice™ platform, a drug-free, injectable nerve block designed to provide long-lasting pain relief for 3-6 months. This funding will support pivotal clinical studies targeting knee pain from osteoarthritis and knee replacement surgery. The round was led by Schooner Capital, with participation from several other investors. The company also announced the appointment of Dr. Michael Fishman as Chief Medical Officer and industry veteran Reggie Groves to the Board of Directors. The Neural Ice™ platform has received Breakthrough Device Designation from the FDA, and early clinical results are promising.

Fulgent Genetics, Inc. (NASDAQ: FLGT) announced its first quarter 2024 financial results, reporting a total revenue of $64.5 million with core revenue growing 1% year-over-year to $63.2 million. The company reiterated its full-year 2024 core revenue guidance of $280 million. Despite a GAAP loss of $13.5 million, or $0.45 per share, Fulgent showed a non-GAAP loss of $269,000, or $0.01 per share. The adjusted EBITDA loss was $3.2 million, with cash from operations at $7.3 million. Fulgent's cash, cash equivalents, and investments in marketable securities were $846.2 million as of March 31, 2024. The company highlighted strong momentum in Precision Diagnostics and milestones in its therapeutic development business, including progress in clinical testing for lead oncology drug candidate FID-007. Fulgent maintains a positive outlook for the full year 2024, expecting core revenue of approximately $280 million and a strong financial position with ample cash to execute.