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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 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.
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.
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