Fulgent saw a 75 percent increase year over year in billable tests, leading to revenues of $7.8 million. It also withdrew its 2020 full-year revenue guidance.
In parallel with the release of its financial results, Hologic announced that it plans to launch a new Aptima molecular assay to detect the SARS-CoV-2 virus that will run on its Panther system.
For full-year 2019, the company reported total revenues of €1.1 million, down 27 percent year over year mainly due to a decrease in licensing revenue from China.
The company expects Q1 revenues to be in the range of $30.5 million to $31.5 million compared to $29.5 million in the year ago period, due to an increase in its testing volume.
The firm noted a disruption in global business in late March, as customers closed or restricted access to their facilities in an attempt to slow the spread of the coronavirus.
The company is withdrawing its previous financial guidance for 2020, saying that it cannot predict the extent or duration of the impact of the COVID-19 pandemic.