Molika Ashford

In a statement, Guardant Health cited the need to balance innovation with "financial discipline and focused execution" in the current economic environment.

The data, from a large prospective cohort, support the value of chemotherapy for ctDNA-positive patients, regardless of clinical stage.

The company believes the new results, from an initial prospective multisite trial, reflect what it can achieve in the larger cohort that it is now planning to recruit.

The company said it hasn't changed its plans to submit its Shield test to the FDA, but the lower-than-expected performance data led to a significant drop in Guardant's share price.

The company has faced some early hurdles in joining competitors in the colorectal cancer space but believes it can claim first mover status in early breast cancer.

Investigators presented data from a meta-analysis that suggests the firm's POLAR gene expression test can identify patients unlikely to benefit from radiation.

The company has published evidence that its TF estimation technique could potentially guide clinical follow-up decisions in cases with a negative liquid biopsy result.

The company is aiming to launch clinical testing services by the second half of next year, using a high-sensitivity, patient-personalized assay technology.

At the AMP annual meeting last week, two lab directors shared their experiences and discussed the assay's pros and cons in a company-sponsored workshop. 

The firm cited new study results confirming that an assay analyzing circulating tumor cells isolated by its Parsortix platform can discriminate malignant pelvic masses.