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Fulgent Genetics, Inc. (NASDAQ: FLGT) announced its first quarter 2024 financial results, reporting a total revenue of $64.5 million with core revenue growing 1% year-over-year to $63.2 million. The company reiterated its full-year 2024 core revenue guidance of $280 million. Despite a GAAP loss of $13.5 million, or $0.45 per share, Fulgent showed a non-GAAP loss of $269,000, or $0.01 per share. The adjusted EBITDA loss was $3.2 million, with cash from operations at $7.3 million. Fulgent's cash, cash equivalents, and investments in marketable securities were $846.2 million as of March 31, 2024. The company highlighted strong momentum in Precision Diagnostics and milestones in its therapeutic development business, including progress in clinical testing for lead oncology drug candidate FID-007. Fulgent maintains a positive outlook for the full year 2024, expecting core revenue of approximately $280 million and a strong financial position with ample cash to execute.