Fulgent Genetics Stock Price, News & Analysis

Mission Bio has partnered with Fulgent Genetics (NASDAQ: FLGT) to enhance drug development and clinical research. This collaboration allows Fulgent Genetics to offer single-cell multi-omics services using the Tapestri Platform, which includes a comprehensive menu of genomic analyses such as whole genome, RNA sequencing, and liquid biopsy.

This partnership is positioned to accelerate biomarker discovery and improve patient stratification in clinical trials. The Tapestri Platform's unique ability to analyze both genotype and phenotype at the single-cell level may unveil new treatment resistance mechanisms. This strategic move reflects the growing demand for precise clinical data, which is crucial for advancing precision oncology.

Fulgent Genetics (NASDAQ: FLGT) reported its financial results for 2022, with total revenue of $619.0 million and fourth-quarter revenue of $67.7 million. Core revenue soared 95% year-over-year to $181.5 million, indicating strong growth in its clinical and therapeutic business sectors. However, the company reported a GAAP loss of $23.8 million in Q4, resulting in a loss of $0.80 per share. For 2023, Fulgent projects a total revenue of approximately $240.0 million and anticipates a GAAP loss of $2.50 per share. The company emphasizes its focus on sustainable growth, particularly in oncology and reproductive health.

Fulgent Genetics has launched the Beacon787, the largest genetic carrier screening panel available, encompassing 787 genes linked to autosomal recessive and X-linked conditions. This panel, compliant with the recommendations of the American College of Medical Genetics and Genomics, aims to provide equitable screening for all pregnant patients. With optimized workflows and advanced bioinformatics, Fulgent enhances testing accuracy and reduces turnaround times, making it a valuable tool for expectant couples. The company’s shift towards integrated precision medicine is a noteworthy strategy for future growth.

Fulgent, Inc. (NASDAQ: FLGT) has announced that its management team will participate in the Raymond James & Associates’ 44th Annual Institutional Investors Conference on March 7, 2023, starting at 8:05 a.m. Eastern Time. A live webcast will be available on the company's website, with a replay accessible one hour after the event concludes.

Fulgent specializes in clinical diagnostics and therapeutic development, offering molecular diagnostic testing, genetic testing, and anatomic pathology services, aimed at enhancing patient care. The company is evolving from genomic diagnostics to a fully integrated precision medicine approach aimed at cancer treatment.

Fulgent Genetics, Inc. (NASDAQ: FLGT) announced it will release its fourth quarter and full year 2022 financial results after market close on February 28, 2023. A conference call will follow at 4:30 PM ET to discuss the results with investors. Fulgent is a technology-based genetic testing company focused on oncology, infectious and rare diseases, reproductive health, and pathology. Their proprietary platform offers a flexible test menu, aiming to enhance patient care while maintaining competitive pricing and turnaround times. The company is transitioning to a fully integrated precision medicine company.

Fulgent Genetics announced the appointment of Reggie Groves to its board of directors, effective January 3, 2023. Her extensive experience in senior roles, particularly at Medtronic, is expected to contribute significantly to the company, especially following its acquisition of Fulgent Pharma. Groves brings a wealth of expertise in medical device and regulatory functions, positioning her as a valuable asset as Fulgent aims to enhance its services across the cancer care spectrum. This transition signals the company's commitment to strengthening leadership in precision medicine.

Fulgent Genetics, Inc. (NASDAQ: FLGT) announced that its management team will participate in the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at 10:00 a.m. Eastern Time. The presentation will be available via a live webcast on the company’s Investor Relations website. Fulgent specializes in genetic testing and therapeutics, focusing on oncology, infectious and rare diseases, reproductive health, and pathology. The company aims to transform patient care through innovative solutions in genetics and precision medicine.

Fulgent Genetics (NASDAQ: FLGT) has announced its acquisition of Fulgent Pharma Holdings for approximately $100 million. This deal is aimed at creating a fully integrated precision medicine company focused on oncology. The acquisition will leverage Fulgent Pharma's novel nano-drug delivery technology and drug candidate FID-007, which shows promise in treating various cancers. The combined company aims to enhance its market position in both therapeutic and diagnostic segments, potentially unlocking significant long-term value.

Fulgent Genetics reported Q3 2022 revenue of $105.7 million, down from $227.9 million in Q3 2021. However, core revenue surged 110% year-over-year to $56.0 million, driven by strong growth in genomic testing. The company delivered 952,000 billable tests, a decrease from 2.2 million in the prior year.

GAAP income was $1.7 million, or $0.06 per share, with a non-GAAP income of $9.8 million, or $0.32 per share. Despite expectations of $60 million in Q4 revenue, challenges persist as COVID-19 testing declines.