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The firm's first quarter molecular diagnostics revenues were up 28 percent over Q1 2019 to $45.2 million.
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.
NeoGenomics noted that test volumes had been disrupted by the COVID-19 pandemic, leading to reduced growth in the company.
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 revenues are in line with analysts' average estimate, but due to the COVID-19 pandemic, it suspended its 2020 guidance.
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 noted a slowdown in demand in instrument-oriented businesses toward the end of the first quarter due to the COVID-19 pandemic.
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.