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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 (NASDAQ: FLGT) has announced a strategic investment of approximately $19 million in FF Gene Biotech, increasing its stake and control in the Chinese entity formed through a Joint Venture. This investment aims to enhance Fulgent's presence in China's rapidly growing genetic testing market, projected to reach $4.5 billion by 2030. The Joint Venture has generated over $10 million in revenue since inception, focusing on cancer, reproductive health, and pediatrics testing. This move is expected to positively impact Fulgent's consolidated financial results.
Fulgent Genetics (NASDAQ: FLGT) reported a remarkable first quarter for 2021, achieving a revenue of $359.4 million, representing an increase of 4,500% compared to $7.8 million in Q1 2020. The company recorded a GAAP income of $200.7 million or $6.52 per share. Expectations for Q2 are around $200 million in revenue, with a full-year forecast raised to $830 million, a 97% year-over-year growth. Significant contributions are anticipated from both RT-PCR and NGS testing, with GAAP income projected at $380 million for 2021.
Fulgent Genetics (NASDAQ: FLGT) will release its Q1 2021 financial results on May 6, 2021, after market close. A conference call for investors will follow at 4:30 PM ET, hosted by CEO Ming Hsieh, CFO Paul Kim, and CCO Brandon Perthuis. The call can be accessed via a live audio webcast or by dialing (800) 353-6461 with code 9490797. Fulgent’s advanced technology platform offers a wide array of genetic testing solutions, including RT-PCR tests for COVID-19, with Emergency Use Authorization from the FDA.
Fulgent Genetics has been awarded a contract by the CDC to conduct ongoing genomic sequencing of SARS-CoV-2 samples using its Next Generation Sequencing (NGS) capabilities. This partnership aims to facilitate a large-scale genomic survey of the virus, crucial for understanding transmission patterns and identifying emerging variants. The CDC's initiative is expected to enhance public health responses to COVID-19. Fulgent's expertise in COVID-19 testing solutions positions it as a key player in this critical research effort.
Fulgent Genetics (NASDAQ: FLGT) announced its participation in the Oppenheimer 31st Annual Healthcare Conference on March 16, 2021. The company's executives, including Chairman and CEO Ming Hsieh, CFO Paul Kim, and CCO Brandon Perthuis, will host a presentation at 8:40 a.m. ET.
A live webcast of the event will be accessible via the Investor Relations section of Fulgent Genetics' website.
Fulgent Genetics, Inc. (NASDAQ: FLGT) reported record fourth quarter 2020 results with revenue of $295.0 million, a remarkable 3,400% increase year-over-year. The company achieved GAAP income of $166.3 million or $6.16 per share. Full-year revenue was $421.7 million, up 1,200% from 2019. Looking ahead to 2021, Fulgent anticipates overall revenue of approximately $800.0 million, reflecting a 90% growth. Non-COVID revenue grew 43% in Q4, and the company continues to expand its testing capabilities and customer base.
Fulgent Genetics (NASDAQ: FLGT) announced it will release its Q4 and full-year 2020 financial results on March 4, 2021, after market close. The company's CEO Ming Hsieh and other executives will host a conference call to discuss the results at 4:30 PM ET (1:30 PM PT). Investors can access the call via a live audio webcast or by dialing (855) 321-9535 with conference ID 7669989. A replay will be available until March 11, 2021.
Fulgent's technology platform offers comprehensive testing solutions, including SARS-CoV-2 detection tests, with Emergency Use Authorization from the FDA.
Fulgent Genetics (NASDAQ: FLGT) has announced that its CFO, Paul Kim, and CCO, Brandon Perthuis, will present virtually at the H.C. Wainwright BIOCONNECT 2021 Conference from January 11-14, 2021. A webcast of the presentation will be available at 6:00 a.m. ET on January 11 on the company’s Investor Relations page and accessible for 90 days. Fulgent Genetics specializes in comprehensive testing solutions and has launched various tests for SARS-CoV-2, receiving Emergency Use Authorization from the FDA for its RT-PCR tests.
Fulgent Genetics (Nasdaq: FLGT) has been awarded a contract to continue providing COVID-19 testing for NYC public schools through the end of the 2021 school year. The partnership, established following a competitive selection process, will deploy Fulgent's FDA EUA-approved RT-PCR tests, ensuring results within 24 hours. The testing will utilize a less invasive nasal swab method for students and staff. This extension underscores Fulgent's proven capabilities, with significant positive feedback on its testing process, which is highly scalable and efficient.
Fulgent Genetics (NASDAQ: FLGT) announced participation in the Piper Sandler 32nd Annual Healthcare Conference from December 1-3, 2020. The company’s top executives, including CEO Ming Hsieh and CFO Paul Kim, will engage in a pre-recorded fireside chat, which will be accessible via their Investor Relations webpage for 90 days post-conference. Fulgent Genetics specializes in comprehensive testing solutions, notably in genetic testing and COVID-19 detection, emphasizing high accuracy, competitive turnaround times, and customizable testing options through their advanced technology platform.
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