Fulgent Genetics, Inc. - FLGT STOCK NEWS

Helio Health announced positive results from the ENCORE study, which validated its HelioLiver test for detecting early hepatocellular carcinoma (HCC). The test demonstrated a high specificity of 91% and sensitivity of 76% for early-stage HCC, outperforming standard detection methods like AFP (57%) and ultrasound (47%). The study included 247 participants, with findings published in Hepatology Communications. Helio aims to improve early cancer detection using its ECLIPSE platform, and HelioLiver is now available for order in the U.S. and Canada.

Epic Sciences has partnered with Fulgent Genetics (NASDAQ:FLGT) to provide DefineMBC, a comprehensive profiling test for metastatic breast cancer (MBC) patients. This collaboration integrates Fulgent's certified Next Generation Sequencing services with Epic's advanced cell analysis platform, enhancing patient care when tissue biopsy is unavailable. The dual analysis from a single blood draw includes detection of circulating tumor cells, protein expression assessment, and plasma-based cell-free DNA analysis. This partnership aims to accelerate the clinical launch and improve outcomes for MBC patients.

Fulgent Genetics reported a remarkable 135% year-over-year revenue growth for 2021, totaling $992.6 million. The fourth quarter alone saw revenue of $251.7 million, with core revenue surging 236% to $122.6 million for the full year. GAAP income reached $507.4 million or $16.38 per share. Looking ahead, the company projects total revenue of approximately $600 million for 2022, with core revenue expectations of $120 million. Fulgent's strong cash position of $935.5 million provides a solid foundation for future investments.

Fulgent Genetics (NASDAQ: FLGT) announced a strategic investment of up to $40 million in Spatial Genomics, a developer of seqFISH technology, which aims to enhance genomic testing solutions. This investment is part of a $56 million Series A financing round led by Fulgent, promoting integration of seqFISH into Fulgent's lab services. Fulgent's partnership with Spatial seeks to expand multiomic analysis capabilities, targeting advancements in precision medicine and clinical diagnostics.

Fulgent Genetics (NASDAQ: FLGT) will announce its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. Following this, a conference call with the company's top executives will be held at 4:30 PM ET to discuss the results. Investors can access the call via a live audio webcast on the company’s website or by phone. Fulgent is focused on genetic testing across various sectors, leveraging its technology platform to provide high-quality, flexible, and competitively priced testing services.

Fulgent Genetics (NASDAQ: FLGT) and Helio Health have announced the commercial launch of HelioLiver, a novel blood test designed for detecting hepatocellular carcinoma (HCC) at early stages. This test utilizes cell-free DNA (cfDNA) methylation patterns and serum protein markers, showing a sensitivity of 76% and specificity of 91%. The test aims to improve early detection and treatment options, potentially increasing five-year survival rates significantly. It is now available through healthcare providers, deterring the need for more invasive and less convenient testing methods.

Fulgent Genetics (NASDAQ: FLGT) announced its RT-PCR test for SARS-CoV-2 can detect the Omicron variant, indicating strong testing capabilities. The Omicron variant, identified in South Africa, has mutations that do not impact Fulgent's testing assays. The company has conducted over 12 million COVID-19 tests since the pandemic began. According to CCO Brandon Perthuis, Fulgent remains committed to providing reliable test solutions amidst ongoing challenges posed by new variants.

Fulgent Genetics (FLGT) reported a robust 124% year-over-year revenue growth, reaching $227.9 million for Q3 2021. Core Revenue surged 292% to $40.1 million, with gross margin improving by 7 percentage points.

GAAP income stood at $122.5 million ($3.93/share), while Non-GAAP income was $126.3 million ($4.05/share). The company raised its full-year revenue guidance to $930 million from $800 million, driven by strong core and COVID-19 testing performance. By year-end, FLGT expects total revenue of approximately $930 million and core revenue of $115 million.

Fulgent Genetics (NASDAQ: FLGT), a technology-driven genetic testing company, has announced participation in two upcoming investor conferences. The company will present at the Credit Suisse 30th Annual Healthcare Conference on November 10, 2021, at 4:20 p.m. ET, and at the Piper Jaffray 33rd Annual Healthcare Conference on December 1, 2021. Webcasts of these presentations will be accessible on the Fulgent Genetics Investor Relations website. The company specializes in genetic testing for oncology, infectious diseases, and reproductive health, emphasizing high accuracy and competitive turnaround times.