Cue Health Inc. - HLTH STOCK NEWS

On November 18, 2021, Cue Health (Nasdaq: HLTH) and Helix announced a collaboration to enable individuals who test positive for COVID-19 through Cue's at-home test to identify the specific virus variant. This initiative addresses the ongoing need for viral sequencing, particularly amidst more contagious strains. Participants will receive a sample collection kit, with results shared within ten days via Cue's app. Although not FDA authorized for healthcare use yet, this research aims to enhance understanding of SARS-CoV-2 variants and improve pandemic readiness by contributing to global data sharing initiatives.

Cue Health Inc. (HLTH) reported a record total revenue of $223.7 million for Q3 2021, marking a 63% increase compared to Q2 2021. Public sector revenue grew by 23% to $129.5 million, while private sector revenue surged by 191% to $94.2 million. The product gross margin increased to 60.2%. The company added over 50 new customers, nearly tripling its customer base. Operating expenses rose to $47.7 million, leading to a slight net income decrease to $19.3 million. Cue Health provides a revenue guidance of $580 million to $590 million for the full year.

On November 15, 2021, Cue Health (Nasdaq: HLTH) will launch its direct-to-consumer virtual health platform, offering its groundbreaking molecular COVID-19 test via a new eCommerce site and in-app shop. Recognized by organizations like Google and Mayo Clinic, the Cue COVID-19 test is the first FDA-authorized molecular test for at-home use. Cue+ membership provides 24/7 access to certified physicians, same-day product delivery, and CDC-compliant test results. Cue aims to make health management easier and more convenient for individuals, enabling them to monitor and manage their health effectively.

On November 1, 2021, Cue Health (Nasdaq: HLTH) announced its partnership with Major League Baseball (MLB) to provide COVID-19 testing solutions during the postseason and World Series. Cue's integrated platform features portable health monitoring systems and FDA-authorized COVID-19 tests, delivering results to mobile devices within 20 minutes. MLB's Vice President praised Cue's technology for enhancing the league's health protocols. Cue Health's diagnostics enable users to manage their health effectively, having previously partnered with organizations like Google and Mayo Clinic for its innovative testing solutions.

Cue Health Inc. (NASDAQ: HLTH) will release its third quarter 2021 financial results on November 10, 2021. A conference call will be hosted at 1:30 PM PT / 4:30 PM ET to discuss the financials and company highlights. Interested parties can access the call via telephone or watch the live webinar on the company's investor website. Cue Health focuses on healthcare technology, enabling consumers to manage their health information and providing accessible diagnostics.

On October 14, 2021, Cue Health Inc. (Nasdaq: HLTH) announced its partnership with the NBA as the league's Official Home and Point of Care Test for the 2021-22 season. Cue will provide all 30 teams and referees with its FDA-authorized COVID-19 test, enabling at-home and OTC use without prescription. The Cue Health Monitoring System allows results in about 20 minutes, accessible via mobile devices. Cue previously collaborated with the NBA during the 2020 season, introducing regular testing protocols. Results from this testing program are expected to be published in a scientific journal.

On October 6, 2021, Cue Health (Nasdaq: HLTH) announced a collaboration with Google Cloud to enhance respiratory viral variant tracking and sequencing. This partnership aims to integrate real-time sequencing data and AI tools into the Cue Integrated Care Platform, improving public health responses to COVID-19 and other infectious diseases. The Cue Health Monitoring System provides rapid, at-home COVID-19 testing with results in about 20 minutes. The collaboration intends to equip health officials with predictive capabilities to manage health threats effectively.

Cue Health has priced its initial public offering (IPO) at $16.00 per share, totaling $200 million in gross proceeds. A total of 12,500,000 shares will be offered, expected to begin trading on Nasdaq under the ticker HLTH on September 24, 2021. The offering is set to close on September 28, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to buy 1,875,000 more shares at the IPO price. Goldman Sachs, Morgan Stanley, and Cowen are leading the offering.

Cue Health has filed a registration statement on Form S-1 with the SEC for a proposed initial public offering (IPO) of its common stock, with details on the number of shares and price range yet to be determined. The company plans to list its stock on the Nasdaq under the ticker symbol HLTH. Goldman Sachs, Morgan Stanley, and Cowen will act as lead underwriters for the offering. A preliminary prospectus will be available once the statement becomes effective.