Cue Health Inc. - HLTH STOCK NEWS

Cue Health Inc. (Nasdaq: HLTH) announced the results of the largest clinical study on asymptomatic individuals, showing its COVID-19 test achieved a 99.4% accuracy compared to lab-based PCR tests. The study analyzed 3,037 samples, reporting 100% clinical sensitivity with no false negatives. Conducted at FH Health in Ontario, Canada, it highlights the test's rapid results (approximately 20 minutes) and potential to facilitate timely treatment while maintaining cost-effectiveness. The test is FDA authorized for professional and home use.

Cue Health Inc. (Nasdaq: HLTH) reported strong financial results for Q2 2022, boasting revenue of $87.7 million, surpassing expectations due to heightened COVID-19 test orders. The company shipped over 250,000 Cue Readers and is progressing with FDA submissions for flu and multiplex studies. Cue Health ended the quarter with $363.1 million in cash, while also initiating a $100 million secured credit facility. GAAP net income reflected a loss of $99.1 million primarily due to restructuring costs and elevated operating expenses.

Cue Health (NASDAQ: HLTH), a leader in healthcare technology, announced its participation in the 7th Annual Needham Virtual Med Tech & Diagnostics 1x1 Conference on August 16, 2022. Cue Health provides individuals with easy access to health information and diagnostics, enabling effective health management. The company is recognized for its FDA-authorized at-home COVID-19 test and has received various international approvals, including CE mark in the EU and authorization from Health Canada and India. Founded in 2010, Cue is headquartered in San Diego.

Cue Health Inc. (NASDAQ: HLTH) is set to release its Q2 2022 financial results on August 10, 2022, at 1:30 p.m. PT. A conference call will be held to discuss these results and recent developments. Interested participants can register in advance to access the call and receive a unique PIN. Cue Health, established in 2010 and headquartered in San Diego, specializes in healthcare technology with a focus on providing accessible, lab-quality diagnostics. The company is known for its FDA-authorized at-home COVID-19 test.

Cue Health Inc. (Nasdaq: HLTH) announced the appointment of Allison Blackwell as Chief Human Resources Officer. With over 20 years in the healthcare sector, Blackwell previously held leadership roles at Danaher Corporation and Beckman Coulter. Her expertise includes human resources, diversity and inclusion, and employee relations. Blackwell aims to enhance Cue's HR strategies to support company objectives. CEO Ayub Khattak expressed confidence in her leadership to further Cue's mission of innovating healthcare delivery.

Cue Health (NASDAQ: HLTH), a healthcare technology company, has announced its management team's participation in two upcoming conferences. The first is the 43rd Annual Goldman Sachs Global Healthcare Conference on June 15, 2022, at 6:20 p.m. Eastern Time, held at the Terranea Resort, Rancho Palos Verdes. The second event is the 7th Annual Cowen FutureHealth Conference on June 22, 2022, at 1:35 p.m. Eastern Time. For further details and access to the presentations, visit www.cuehealth.com.

Cue Health Inc. (Nasdaq: HLTH) reported its first quarter 2022 financial results, achieving $179.4 million in revenue, up from $64.5 million in Q1 2021, marking a 178% year-over-year growth. This increase was driven by expanding the customer base and production capacity. Private sector revenue constituted 98% of total revenue. However, operating expenses rose significantly to $89.9 million, impacting net income which fell to $2.8 million from $13 million in the previous year. Cue also projects Q2 2022 revenues between $50 million and $55 million.

Cue Health (Nasdaq: HLTH) submitted a request for full FDA clearance of its molecular COVID-19 test for at-home use, marking a significant milestone in home testing technology. The test previously received Emergency Use Authorization, demonstrating a high accuracy rate of 98.9%. Cue's COVID-19 test has been utilized by major healthcare institutions and organizations, further validating its reliability. The company aims to expand its molecular testing capabilities to address various health conditions, making healthcare more accessible and effective.

Cue Health (NASDAQ: HLTH) is set to release its Q1 2022 financial results on May 11, 2022, at 1:30 PM PT / 4:30 PM ET. The company will host a conference call to discuss its financial performance and recent highlights. Interested participants can join the call by dialing (888) 708-0136 domestically or (929) 517-9009 internationally, using conference ID: 9165254. A live webinar will be available on the company's investor website, with a replay accessible shortly after the call.