Agilent Technologies Inc. - A STOCK NEWS

Agilent Technologies (NYSE: A) announced the expanded use of its PD-L1 IHC 22C3 pharmDx assay in Europe, now CE-IVD marked for identifying esophageal cancer patients eligible for KEYTRUDA treatment with a Combined Positive Score (CPS) ≥ 10. This assay supports treatment for patients with locally advanced unresectable or metastatic esophageal carcinoma. In 2020, almost 53,000 esophageal cancer cases were reported in Europe. The PD-L1 assay is crucial for enhancing diagnostic confidence as more patients qualify for anti-PD-1 therapies like KEYTRUDA.

Agilent Technologies (NYSE: A) supports research by IIT Bombay and QIMR Berghofer on a new method to distinguish between severe and mild COVID-19 patients. Using the Agilent Cary 630 FTIR Spectrometer, researchers analyzed blood plasma from 160 patients and developed a classification algorithm. The method showed 69.2% specificity and 94.1% sensitivity in predicting severe cases. This advancement aims to aid healthcare workers in prioritizing resources efficiently amid ongoing COVID-19 challenges. Agilent's commitment to infectious disease research is underscored by this collaboration.

Agilent Technologies reported $1.59 billion in revenue for Q3 2021, marking a 26% year-over-year increase. GAAP net income was $264 million or 86 cents per share, up from $199 million or 64 cents in Q3 2020. Non-GAAP net income rose to $337 million or $1.10 per share, compared to $243 million or 78 cents a year ago. The company raised its revenue outlook for FY 2021 to between $6.29 billion and $6.32 billion and expects Q4 revenue of $1.63 billion to $1.66 billion.

Agilent Technologies Inc. (NYSE: A) has achieved Great Place to Work certification, based on feedback from 5,679 U.S. employees. An impressive 86% reported Agilent as a great workplace, significantly higher than the 59% benchmark for typical U.S. companies. The recognition underscores Agilent's commitment to fairness, equity, and integrity, reflected in high scores for treatment of employees across various demographics. Additionally, Agilent is recognized globally, having won similar awards in China, Germany, India, and Spain.

Agilent Technologies (NYSE: A) has established in-country manufacturing for its SureSelect portfolio at its Hangzhou, China facility. This move aims to enhance delivery turnaround times for next-generation sequencing assays, allowing faster development and optimization of custom panels. The new manufacturing site will maintain the same high-quality standards as U.S. counterparts, enabling quicker customer access to assay technology. Agilent's investment reflects its commitment to growth opportunities in the China market and reinforces its genomics capabilities.

Agilent Technologies (NYSE: A) announced the 2021 Early Career Professor Award recipient, Dr. Jason H. Yang, from Rutgers New Jersey Medical School. This award focuses on innovative solutions for managing immunological responses to diseases. Dr. Yang's research combines high-throughput experimentation with machine learning to develop engineered macrophages as therapies for infections, autoimmunity, and cancer. The award supports his cutting-edge research and strengthens Agilent's commitment to advancing scientific innovation.

Agilent Technologies Inc. (NYSE: A) announced a study published in the journal Lung Cancer, highlighting the effectiveness of next-generation sequencing (NGS) of circulating tumor DNA (ctDNA) for detecting ALK fusions in lung cancer patients. Conducted in collaboration with Resolution Bioscience and Memorial Sloan Kettering Cancer Center, the study emphasizes the non-invasive nature and clinical utility of this method. Findings suggest that ctDNA testing can monitor resistance mechanisms in patients undergoing targeted therapy, supporting precision oncology.

Agilent Technologies Inc. (NYSE: A) will announce its third-quarter fiscal year 2021 financial results on Tuesday, August 17, after market close. A live webcast for the investor conference call will occur the same day at 1:30 p.m. Pacific time, accessible via the Investor Relations section of Agilent's website. The company reported revenues of $5.34 billion in fiscal year 2020 and employs 16,400 individuals globally. The webcast will be available for 90 days following the event.