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The assay is Guardant Health’s first commercially available product for clinical management of early-stage tumors and is initially focused on colorectal cancer.
The company is working to expand access to its liquid biopsy assay outside of the US, after receiving US Food and Drug Administration approval last year.
The company doesn’t expect significant revenue from the test this year, but executives said that they are already seeing positive reception trends.
The firm said its revenues for the three months ended Dec. 31, 2020 were $78.3 million compared to $62.9 million in the same quarter of 2019.
With its liquid biopsy test FDA approved and monitoring and screening offerings poised for launch, the firm is turning its attention to tumor tissue testing.
News items for the in vitro diagnostics industry for the week of Feb. 1, 2021.
News items for the in vitro diagnostics industry for the week of Jan. 18, 2021.
Among firms presenting on the first day, Roche provided insights into its COVID-19 testing business, and Guardant said it plans to launch a comprehensive tissue sequencing assay.
The company will use a portion of the proceeds to enter into capped call transactions and the remainder for various corporate activities.
The liquid biopsy's firm's net loss rose significantly year over year, but it beat the top line consensus Wall Street estimate, with total revenues of $74.6 million for the quarter.