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Fulgent Genetics, Inc. (NASDAQ: FLGT) is a technology-driven company specializing in genetic testing, with the mission of making advanced genetic diagnostics accessible and affordable. Founded in 2011, Fulgent Genetics focuses on providing flexible and comprehensive genetic testing solutions aimed at improving everyday lives. The company operates through two primary segments: laboratory services and therapeutic development.
The laboratory services segment, which is the main revenue generator, includes technical laboratory services and professional interpretation of laboratory results by licensed physicians. Fulgent Genetics offers a broad array of tests that cover various genetic disorders, helping clinicians and patients obtain clinically actionable diagnostic information.
The therapeutic development segment is dedicated to creating drug candidates for a broad range of cancers. Utilizing innovative nanoencapsulation and targeted therapy platforms, Fulgent aims to improve the pharmacokinetic profile and therapeutic window of new and existing cancer drugs.
One of the company's recent achievements is a partnership with CooperSurgical, enabling the addition of exclusive newborn genetic screening panels to the services offered by Cord Blood Registry® (CBR®), the largest private newborn stem cell preservation company globally.
Fulgent's Picture® Genetics, launched in 2019, provides consumers direct access to comprehensive genetic testing at home. The tests cater to various needs and offer clinically actionable, medical-grade results with professional oversight. This complements Fulgent's laboratory services by making genetic testing more accessible and user-friendly.
With its headquarters in El Monte, California, Fulgent Genetics continues to expand its reach, serving clients both in the United States and internationally. The company's commitment to excellence is reflected in its collaborations with top clinicians and continuous improvements to its testing panels and report formats.
Fulgent Genetics, Inc. (NASDAQ: FLGT) will release its first quarter 2023 financial results on May 5, 2023, before the market opens. The company will hold a conference call at 8:30 AM ET to discuss these results and address questions from investors. Fulgent operates in two primary sectors: a clinical diagnostic business providing molecular and genetic testing, and a therapeutic development segment focused on cancer treatment through innovative drug delivery methods. The company aims to transition from a genomic diagnostics provider to a fully integrated precision medicine firm.
Mission Bio has partnered with Fulgent Genetics (NASDAQ: FLGT) to enhance drug development and clinical research. This collaboration allows Fulgent Genetics to offer single-cell multi-omics services using the Tapestri Platform, which includes a comprehensive menu of genomic analyses such as whole genome, RNA sequencing, and liquid biopsy.
This partnership is positioned to accelerate biomarker discovery and improve patient stratification in clinical trials. The Tapestri Platform's unique ability to analyze both genotype and phenotype at the single-cell level may unveil new treatment resistance mechanisms. This strategic move reflects the growing demand for precise clinical data, which is crucial for advancing precision oncology.
Fulgent Genetics (NASDAQ: FLGT) reported its financial results for 2022, with total revenue of $619.0 million and fourth-quarter revenue of $67.7 million. Core revenue soared 95% year-over-year to $181.5 million, indicating strong growth in its clinical and therapeutic business sectors. However, the company reported a GAAP loss of $23.8 million in Q4, resulting in a loss of $0.80 per share. For 2023, Fulgent projects a total revenue of approximately $240.0 million and anticipates a GAAP loss of $2.50 per share. The company emphasizes its focus on sustainable growth, particularly in oncology and reproductive health.
Fulgent Genetics has launched the Beacon787, the largest genetic carrier screening panel available, encompassing 787 genes linked to autosomal recessive and X-linked conditions. This panel, compliant with the recommendations of the American College of Medical Genetics and Genomics, aims to provide equitable screening for all pregnant patients. With optimized workflows and advanced bioinformatics, Fulgent enhances testing accuracy and reduces turnaround times, making it a valuable tool for expectant couples. The company’s shift towards integrated precision medicine is a noteworthy strategy for future growth.
Fulgent, Inc. (NASDAQ: FLGT) has announced that its management team will participate in the Raymond James & Associates’ 44th Annual Institutional Investors Conference on March 7, 2023, starting at 8:05 a.m. Eastern Time. A live webcast will be available on the company's website, with a replay accessible one hour after the event concludes.
Fulgent specializes in clinical diagnostics and therapeutic development, offering molecular diagnostic testing, genetic testing, and anatomic pathology services, aimed at enhancing patient care. The company is evolving from genomic diagnostics to a fully integrated precision medicine approach aimed at cancer treatment.
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