Welcome to our dedicated page for Fulgent Genetics news (Ticker: FLGT), a resource for investors and traders seeking the latest updates and insights on Fulgent Genetics stock.
Fulgent Genetics, Inc. (NASDAQ: FLGT) regularly issues news and updates that reflect its dual focus on laboratory services and oncology therapeutic development. Company press releases cover topics such as quarterly and annual financial results, clinical trial progress for its cancer drug candidates, regulatory milestones for its genomic testing platforms, and strategic transactions in the laboratory and pathology space. Because Fulgent describes itself as a technology-based company with ambitions in precision medicine, its news flow often highlights both operational performance and advances in its technology and therapeutic pipelines.
Investors following FLGT news can expect detailed earnings releases that discuss revenue, core revenue, GAAP and non-GAAP results, gross margins, and adjusted EBITDA, along with commentary from management on business trends in the laboratory services and therapeutic development segments. The company also announces the timing of upcoming earnings calls and investor conference presentations through news releases, providing context for when management will discuss the business with the investment community.
Beyond financial reporting, Fulgent’s news includes updates on its oncology programs, such as preliminary clinical data from trials of FID-007 in recurrent or metastatic head and neck squamous cell carcinoma. The company also reports on regulatory achievements, including CE certification in the European Union for its FulgentExome and Fulgent Pipeline Manager (PLM) germline next-generation sequencing system. In addition, Fulgent uses press releases to announce strategic moves in laboratory and pathology services, such as its agreement to acquire selected assets of Bako Diagnostics and to acquire StrataDx.
This FLGT news page aggregates these types of announcements so readers can review financial disclosures, clinical development updates, technology milestones, and transaction-related news in one place. For those tracking Fulgent’s progress toward its stated goal of becoming a fully integrated precision medicine company, the news feed provides an ongoing view of how the company reports its operational and strategic developments.
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.
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.