Fulgent Genetics Stock Price, News & Analysis

Fulgent Genetics (NASDAQ: FLGT) will release its Q3 2022 financial results after market close on November 7, 2022. A conference call will follow at 4:30 PM ET to discuss the results and answer questions. The call can be accessed via audio webcast on the company's Investor Relations page. Fulgent specializes in genetic testing technology across various fields, providing a comprehensive range of tests with high accuracy, competitive pricing, and fast turnaround.

Fulgent Genetics (NASDAQ: FLGT) reported Q2 2022 revenue of $125.3 million, down from $153.6 million in Q2 2021. Core Revenue surged 102% year-over-year, reaching $45.3 million. The company has raised its full-year core revenue outlook to $185 million from $180 million. GAAP income was $11.5 million or $0.37 per share, while non-GAAP income reached $24.3 million or $0.78 per share. Looking ahead, Fulgent forecasts Q3 total revenue of $105 million and core revenue of $54 million, with a full-year target of $665 million.

Fulgent Genetics (NASDAQ: FLGT) has launched a PCR-based test for monkeypox to enhance testing capacity in the U.S. This initiative follows the CDC’s orthopoxvirus test, targeting non-smallpox related orthopoxviruses. The company aims to make testing more convenient for healthcare providers and patients. Brandon Perthuis, CCO, emphasized the importance of accessible testing to curb the transmission of monkeypox. With efficient technology and lab operations, Fulgent anticipates scaling its testing services rapidly, similar to its COVID-19 response.

Fulgent Genetics (NASDAQ: FLGT) has appointed Dr. Michael Nohaile and Dr. Leonard Post to its Board of Directors, effective August 1, 2022. Dr. Nohaile, previously at Generate Biomedicines and Amgen, has extensive experience in drug discovery and corporate strategy. Dr. Post, from Vivace Therapeutics, brings over 30 years of drug development experience, particularly in oncology and genetic diseases. Both appointments aim to enhance Fulgent's capabilities as it explores new therapeutic opportunities. The company emphasizes the value these experts will bring to its evolving operations.

Fulgent Genetics, Inc. (NASDAQ: FLGT) will release its Q2 2022 financial results on August 4, 2022, after market close. Key executives, including Chairman Ming Hsieh and CFO Paul Kim, will host a conference call at 4:30 PM ET to discuss the results and answer investor questions. The call can be accessed via audio webcast on the company's website or by phone. Fulgent specializes in genetic testing for oncology, infectious and rare diseases, and reproductive health, offering a flexible test menu and high accuracy through its proprietary technology platform.

Fulgent Genetics (NASDAQ: FLGT) has received a significant boost as the American Medical Association approved a new Category I CPT code for the HelioLiver test, aimed at enhancing reimbursement pathways for hepatocellular carcinoma (HCC) detection. Effective from October 1, 2022, this approval is expected to increase access and adoption of HelioLiver, which utilizes advanced blood testing methods. Early detection is crucial, as HCC represents a major global health challenge, with over 800,000 cases diagnosed annually. HelioLiver’s test demonstrated a high specificity of 91% and sensitivity of 76% in early-stage detection.

Fulgent Genetics (NASDAQ: FLGT) announced several leadership promotions and appointments to enhance its growth strategy. James Xie has been named President alongside his roles as COO, while Chris Wicker becomes Vice President and General Manager of CSI Laboratories and Inform Diagnostics. Natalie Prescott joins as Vice President of Legal. Other key appointments include Mary Jane Abalos as Vice President of Finance and Doreen Ng as Vice President of Operations. This strengthened leadership aims to drive execution and innovation in genetic testing across oncology and infectious diseases.

Fulgent Genetics (FLGT) reported Q1 2022 revenue of $320.3 million, down from $359.4 million in Q1 2021. Core revenue, excluding COVID-19 testing, rose 59% year-over-year to $25.1 million. The company raised its full-year revenue outlook to $660 million from $600 million and core revenue outlook to $180 million from $175 million. GAAP income was $154 million or $4.93 per share. Fulgent's strong cash position of $1.1 billion supports future acquisitions, including the recent acquisition of Inform Diagnostics.

Fulgent Genetics (NASDAQ: FLGT) has opened a new oncology laboratory in El Monte, California, enhancing its capabilities in somatic molecular diagnostics and cancer testing. This 25,000 square foot CLIA-certified facility will expand on its existing operations in Alpharetta, Georgia and improve service efficiency for oncology clients on the West Coast. The lab will focus on predictive cancer testing, utilizing next-generation sequencing technology, and aims to expand Fulgent's market presence by targeting direct sales to hematologists and oncologists.