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.
Helio Health and Fulgent Genetics announced a late-breaking poster presentation on HelioLiver, a blood test for detecting hepatocellular carcinoma (HCC), at The Liver Meeting® 2021, scheduled for November 12-15, 2021. The test uses cell-free DNA methylation patterns and protein markers to improve early cancer detection. The presentation will feature David J. Taggart, PhD, and aims to highlight significant advancements in liver cancer screening. Helio Health focuses on AI-driven cancer detection, while Fulgent Genetics specializes in genetic testing innovations.
Fulgent Genetics (NASDAQ: FLGT) has launched a new antibody test for COVID-19 that targets neutralizing antibodies. This consumer-initiated test can be performed via a finger prick at home without needing a physician visit. The test aims to empower individuals with data on their immunity levels, helping to assess vaccine effectiveness and herd immunity. Fulgent has conducted over 12 million COVID-19 tests since the pandemic began, and this new offering enhances its existing testing capabilities.
Fulgent Genetics (NASDAQ: FLGT) will release its third quarter 2021 financial results on November 9, 2021, after market close. The company specializes in genetic testing for oncology, infectious diseases, and reproductive health. A conference call hosted by key executives will take place at 4:30 PM ET to discuss results and answer questions. Investors can access the call via audio webcast or by dialing in. Fulgent Genetics combines NGS technology with an extensive test menu, providing a comprehensive suite of services tailored to client needs.
Fulgent Genetics (NASDAQ: FLGT) announced a partnership with the Houston Health Department and local public schools to conduct COVID-19 testing for students this school year. Aiming to combat rising COVID-19 cases among school-age children, the initiative will utilize RT-PCR testing with parental consent. Participating districts include Houston ISD and Aldine ISD, with daily sample deliveries to Fulgent's Houston lab, ensuring results are available the next school day. The company's certified lab capabilities position it as a trusted provider for COVID-19 testing services.
Fulgent Genetics (FLGT) reported remarkable financial results for Q2 2021, with revenue soaring to $153.6 million, a 790% year-over-year increase. The company delivered around 1.6 million billable tests, significantly up from the previous year. Gross margin improved by 21 percentage points, and GAAP income reached $79.8 million, or $2.59 per share. Fulgent also made strategic investments including acquiring CSI Laboratories and boosting its position in FF Gene Biotech. For Q3 2021, it expects revenue between $125 million and $150 million, anticipating growth amid changing testing demands.
Fulgent Genetics has acquired CSI Laboratories to enhance its capabilities in somatic molecular diagnostics and cancer testing. CSI, known for its vast array of oncology tests, will complement Fulgent's expertise in next-generation sequencing (NGS). This acquisition aims to expand Fulgent’s market presence, with the somatic genetic testing market projected to reach $16.8 billion by 2030. Fulgent plans to leverage its technology platform and lab infrastructure to create a comprehensive cancer testing solution across the U.S., with a new lab in California enhancing operational capacity.
Fulgent Genetics (NASDAQ: FLGT) has partnered with Helio Health to commercialize blood-based early cancer detection tests. This partnership grants Fulgent exclusive rights for laboratory developed tests (LDTs) in the U.S. and Canada and includes a strategic investment in Helio. The focus will initially be on HelioLiver, a test for detecting liver cancer, which is currently in clinical trials. The companies aim to leverage their strengths in operations, marketing, and research to enhance early cancer detection capabilities and expand into additional tests for other cancers.
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Fulgent Genetics (NASDAQ: FLGT) announced it will release its Q2 2021 financial results on August 5, 2021, after market close. Following this, a conference call will be hosted by CEO Ming Hsieh and other executives at 4:30 PM ET to discuss the results and answer questions. The company’s innovative technology platform offers extensive testing solutions, including full-gene sequencing and tailored options, ensuring high accuracy and competitive turnaround times, aimed to address diverse customer needs.
Fulgent Genetics (NASDAQ: FLGT) has announced a strategic investment of approximately $19 million in FF Gene Biotech, increasing its stake and control in the Chinese entity formed through a Joint Venture. This investment aims to enhance Fulgent's presence in China's rapidly growing genetic testing market, projected to reach $4.5 billion by 2030. The Joint Venture has generated over $10 million in revenue since inception, focusing on cancer, reproductive health, and pediatrics testing. This move is expected to positively impact Fulgent's consolidated financial results.