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Fluidigm Corporation (Nasdaq:FLDM) announced its COVID-19 Community Connect program, aimed at facilitating saliva-based COVID-19 testing. This program connects various governmental and health entities with high-complexity labs to meet the growing demand for noninvasive testing. Fluidigm's Advanta Dx SARS-CoV-2 RT-PCR Assay received Emergency Use Authorization from the FDA in August, demonstrating 100% agreement with traditional testing methods. The initiative is supported by a $34 million contract with the NIH under the RADx program, enhancing testing capacity across the U.S.
Fluidigm Corporation (Nasdaq:FLDM) will participate in the Stifel Virtual Healthcare Conference to discuss its business strategy and financial performance. The company's President and CEO, Chris Linthwaite, is scheduled to present on November 17, 2020, at 2:00 pm ET. A live webcast will be available on their investor website and archived for 90 days. Fluidigm is focused on advancing translational and clinical research, utilizing proprietary technologies to enhance health insights and accelerate therapy development.
Fluidigm Corporation (Nasdaq:FLDM) reported third quarter revenue of $39.9 million, a 50.4% increase from $26.5 million year-over-year. Product and service revenue rose 34.4% to $35.3 million, primarily driven by COVID-19 testing initiatives. GAAP net loss was $6.0 million, an improvement from a loss of $12.9 million in Q3 2019. Non-GAAP net income reached $2.5 million, reversing a $6.2 million loss from the prior year. The company effectively managed cash and operating expenses, holding $73.4 million in cash equivalents as of September 30, 2020.
Fluidigm Corporation (Nasdaq:FLDM) has partnered with Healthvana Inc. to expedite COVID-19 test result delivery through Healthvana’s mobile platform. This initiative aims to reduce patient anxiety and improve access to health information within minutes. The partnership follows Fluidigm's FDA Emergency Use Authorization for its Advanta Dx SARS-CoV-2 RT-PCR Assay, which detects the virus using non-invasive saliva samples. This collaboration reflects a response to the growing need for rapid and reliable COVID-19 testing solutions during the pandemic.
Fluidigm Corporation (NASDAQ:FLDM) has announced that its mass cytometry technologies were utilized in 113 National Clinical Trials, with 94 ongoing and 19 completed. In 2020, 25 trials were initiated, including studies related to COVID-19. The technologies are aiding research across various fields such as immuno-oncology and autoimmune diseases. CEO Chris Linthwaite highlighted the technologies' potential to transform clinical trial design. The press release underscores how the firm's offerings contribute to vital research amidst the global health crisis.
Fluidigm Corporation (Nasdaq:FLDM) has partnered with Dante Labs to introduce saliva-based COVID-19 testing in seven European countries, including the UK, Italy, Spain, and France. The Fluidigm Biomark™ HD system will facilitate these tests, aiming to process approximately 30,000 tests weekly by the end of November. Dante Labs emphasizes the efficacy and user-friendliness of saliva sample collection, while Fluidigm highlights the need for increased testing capacity amid rising COVID-19 cases in Europe. This collaboration marks a significant step towards enhancing public health response efforts in the region.
Fluidigm Corporation (Nasdaq:FLDM) has launched the COVID-19 Campus Safeguard Program, providing millions of non-invasive, saliva-based tests for SARS-CoV-2 to U.S. colleges at a cost as low as $5 per test. The Advanta Dx RT-PCR Assay has received Emergency Use Authorization from the FDA, demonstrating 100% agreement with nasopharyngeal samples. Supported by a $34 million contract from the NIH's RADx initiative, the program aims to meet high testing demands in higher education, with up to six million tests expected by the fourth quarter of 2020.
Fluidigm Corporation (Nasdaq:FLDM) will announce its third quarter 2020 financial results on November 5, 2020, after market close. A conference call will follow at 2:00 p.m. PT, hosted by President Chris Linthwaite and CFO Vikram Jog to discuss the results and operational advancements. Interested parties can access the call via a toll-free number or live webcast. Fluidigm focuses on innovative biotech solutions for clinical research and aims to enhance health insights through its proprietary technologies.
Fluidigm Corporation (Nasdaq: FLDM) announced its participation in the CANCERPREV research program aimed at enhancing understanding of breast and skin cancer prevention. The program, funded by the European Commission under the Horizon 2020 initiative, involves collaboration with leading research institutions and biotech companies. Fluidigm will leverage its advanced mass cytometry and microfluidics technologies to support researchers in discovering cancer biomarkers. This initiative is crucial for developing effective prevention strategies and accelerating drug development timelines.
Fluidigm Corporation (Nasdaq: FLDM) announced that ImmunoGenomics and Vero Diagnostics are now CLIA-certified labs providing testing using the Advanta™ Dx SARS-CoV-2 RT-PCR Assay on the Biomark™ HD system. The FDA granted Emergency Use Authorization for this extraction-free saliva-based COVID-19 test, which showed 100% agreement with nasopharyngeal samples. ImmunoGenomics processes 3,000 samples daily with this assay, while Vero Diagnostics highlights its efficiency. Fluidigm’s saliva test is being adopted widely across various healthcare settings, offering rapid results and easing supply chain constraints.
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