Fulgent Genetics Stock Price, News & Analysis

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.

Fulgent Genetics (NASDAQ: FLGT) will participate in Credit Suisse’s 31st Annual Healthcare Conference on November 8, 2022. The presentation is scheduled for 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). A live webcast will be accessible on Fulgent's Investor Relations website, with a replay available one hour post-event. Fulgent Genetics specializes in technology-based genetic testing, focusing on oncology, infectious and rare diseases, and reproductive health, utilizing next-generation sequencing for high accuracy and flexible testing solutions.

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.