Guardant Health, Inc. - GH STOCK NEWS

Guardant Health reported a revenue of $92.1 million for Q2 2021, up 39% year-over-year, with clinical testing revenue increasing 54%. The company performed 20,830 clinical tests and 3,653 biopharmaceutical tests. Gross profit rose to $62.2 million with a 68% gross margin. However, operating expenses surged to $159.8 million, driving a net loss of $97.6 million. Guardant maintains its 2021 revenue guidance of $360 million to $370 million, indicating 26% to 29% growth over 2020 amid ongoing COVID-19 uncertainties.

Fight Colorectal Cancer and Guardant Health will honor clinical researchers and advocates with the “Back to Screening Award for Research Advocacy Excellence.” This recognition takes place at the “Path to a Cure” event in December 2021, emphasizing efforts to revitalize colorectal cancer screening post-pandemic. The ECLIPSE trial, evaluating a blood test for colorectal cancer screening, aims for FDA approval. With only 66% of adults screened, the trial addresses a critical healthcare gap exacerbated by COVID-19, reflecting a pressing need for non-invasive solutions to combat rising colorectal cancer rates among younger populations.

Lunit, a leading AI startup in cancer solutions, secured a strategic investment of $26 million from Guardant Health (Nasdaq: GH). This collaboration aims to innovate the precision oncology landscape and enhance cancer diagnostics. Following this investment, Lunit is set to file for an initial public offering on the Korean Stock Exchange. Notably, Lunit's SCOPE platform demonstrated a 50% improvement in identifying patients suitable for immunotherapy at the ASCO 2021 meeting. Leaders from both companies expressed optimism about advancing cancer care through this partnership.

Guardant Health, Inc. (Nasdaq: GH) will report its financial results for Q2 2021 on August 5, 2021, after the market closes. A conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET, which will be available for live listening on the company’s website. Guardant Health focuses on precision oncology with proprietary tests like Guardant360® and Guardant Reveal™, aiming to improve patient outcomes and reduce healthcare costs across cancer care stages.

Guardant Health (Nasdaq: GH) has launched two innovative tests for late-stage cancer management: the Guardant360 Response and Guardant360 TissueNext. The Guardant360 Response is a blood-only test that detects changes in circulating tumor DNA (ctDNA), providing early treatment response indicators up to eight weeks prior to traditional methods. The Guardant360 TissueNext offers tissue testing to complement the blood test, ensuring comprehensive patient evaluation. These additions enhance the Guardant360 portfolio, aiming to optimize treatment selection and improve clinical outcomes.

Guardant Health, Inc. (Nasdaq: GH) has appointed Chris Freeman as the Chief Commercial Officer for its oncology business, effective June 8, 2021. Freeman brings extensive experience in managing pharmaceutical brands, which will aid in the company's efforts to expand its oncology portfolio for advanced and early-stage cancers. CEO Helmy Eltoukhy emphasized Freeman's role in developing commercial strategies to enhance growth across various market segments.

Guardant Health reveals promising early results from the LUNAR-2 blood test at the 2021 ASCO Annual Meeting, demonstrating a 91% sensitivity for detecting early-stage colorectal cancer (CRC) with a specificity of 94%. With only 68% of adults over 50 screened for CRC, this test may improve compliance with CDC goals. The ECLIPSE trial, a 10,000-patient study, is underway to validate these findings and support FDA approval. Guardant's CEO emphasizes the test's effectiveness in both asymptomatic and symptomatic patients, showcasing its potential for clinical adoption in average-risk populations.