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Fulgent Genetics Wins Utah COVID-19 Testing Contract

NEW YORK – Molecular diagnostics firm Fulgent Genetics announced Tuesday the Utah Department of Health has selected Fulgent to provide RT-PCR-based tests for the state's coronavirus testing initiative.

The test, which has received Emergency Use Authorization from the US Food and Drug Administration, will be administered at several fixed sites and by mobile units in select counties in the state. Tests will be processed at Fulgent's Temple City, California lab.

"The State of Utah joins the growing list of municipalities, healthcare providers and organizations that have selected Fulgent's RT-PCR test for their COVID-19 testing needs," Fulgent Chief Commercial Officer Brandon Perthuis said in a statement. "Our rapid turnaround time, reliable testing solutions combined with our user-friendly platforms and applications continue to be reasons Fulgent is selected as a testing partner in these competitive situations." Utah is home to approximately 3.2 million people, according to a US Census Bureau estimate from July 1, 2019.

The deal is the latest COVID-19 testing contract won by Fulgent, which invested heavily in that technology in March. In recent weeks, the firm also landed deals to provide tests to Florida's Miami-Dade County and to New York City's schools.

In Tuesday morning premarket trade on the Nasdaq, shares of Fulgent were up 2 percent at $31.