fulgent genetics long beach

These reports contain more information about the company, its business and the risks affecting its business. So we think when our expanded portfolio of customers is running at full speed when they're seeing the same number of patients they saw pre-pandemic, could be a pretty powerful turning point for our company. We were able to launch this high capacity lab in record time by building on top of our foundational Fulgent technology. “Miami-Dade residents now have improved access to reliable and fast COVID-19 testing. Non-GAAP operating margin improved approximately 44 percentage points sequentially to 65.5%. The success we have had with COVID-19 testing has allowed us to expand our go-to-market strategy. And Brandon can give you some of the details. The Company has received Emergency Use Authorization (“EUA”) from the U.S. Food and Drug Administration (“FDA”) for the RT-PCR-based tests for the detection of SARS-CoV-2 using upper respiratory specimens (nasal, nasopharyngeal, and oropharyngeal swabs) and for the at-home testing service through Picture Genetics. We believe that having this reimbursement agreement in place will continue to drive business from the customers in a way that we haven't seen prior to the pandemic. Employer Identification No.) We think it will. And finally, Paul will discuss our financial results and the outlook in detail. Fulgent Genetics . But that includes our core genetic tests on top of COVID. As we walk into each opportunity, we need to make sure we have a sound business model. Powered by Madgex Job Board Software. And then during the earlier on part of this year, in March, April, and May, during the first lockdown, that impacted the core or the genetic testing business across the industry. Investor Relations Contact: And based on our profits, we recorded a 23% tax rate in Q3. But oddly enough, it seems like we're on track to meet the original guidance even before COVID has hit. And we believe [Audio gap] in the -- our traditional genetic testing space or in the wider screening market that we will be one of the consolidators to take a look at businesses and technologies that we can incorporate or potentially incorporate as our own to enhance our technological lead in addition to making a stronger company. Fulgent Genetics, Inc. is a technology company. Miami-Dade joins a long list of counties to use Fulgent’s Community Testing Platform including, but not limited to Santa Clara County, San Bernardino County, Los Angeles County, City of Long Beach and Orange County. Some of this we have announced publicly, but we have won a number of additional strategic customers that we have not publicly disclosed. So number one, our total fixed assets, and the equipment purchases for the year is going to be between $10 million and $15 million. The Blueshirt Group Switching to our COVID-19 business. See you at the top! Brandon will elaborate further on some of these customer dynamics. I will review the highlights from our third quarter, before I hand it over to our chief commercial officer, Brandon Perthuis, to provide updates on our commercial success and the go-to-market strategy. Thanks very much. Getting EUA for our standard physician-administered RT-PCR test was critical as it served as a validation and stamp of approval for our quality. Before we get into our COVID-19 business, I would first like to highlight the strong quarter we had in our core genetic testing business. It has been important when it comes to winning RFPs and government contracts. I think in terms of vaccine development, we welcome the news of the vaccine development because we do see the demand for the Fulgent Genetics to provide faster, quicker, and cheaper tests in terms of the COVID-19 test. Hi. Our original offering consists of three tests: carrier screening, newborn screening, and adult wellness. We continued to make meaningful investments across all our departments in the quarter, but our top-line outperformance and increasing operating efficiencies are outstripping our investments into our business. And before COVID hit, we guided the street to $40 million of business for the year. Stock Advisor launched in February of 2002. A cornerstone of the Company’s business is its ability to provide expansive options and flexibility for all clients’ unique testing needs through a comprehensive technology offering including cloud computing, pipeline services, record management, web portal services, clinical workflow, sequencing as a service and automated lab services. Fulgent has significantly expanded our coronavirus testing services over the past several months. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Fulgent was founded in 2011. And actually, I got a text that I cut out a little bit. These contracts have been with government agencies, municipalities, big companies, you name it, colleges, sports conferences [Audio gap], Rachel. We welcome the news about the very promising vaccine development from Pfizer today since we have made a $2.5 million investment in a private company called Boston Molecules during this quarter. As a final note, we appreciate the patient shareholders who had faith in our business over the past four-plus years and look forward to sharing updates to our business in future quarters. This facility is a great example of the power and portability of the Fulgent technology platform. We also added content to our genetic testing menu across the board, whether it be cancer, women's reproductive health, or pediatrics. Can you talk about your plans for using the money to invest in the business? We see the second half of 2020 as a continuation of our inflection point in our business, which began last quarter. In addition to those, there are approximately 500 million non-influenza respiratory infections occurring annually. And we think that's incredibly important. Yes, Rachel -- sorry, Erin. This week, we had the pleasure of joining Osmosis on their #RaiseTheLine podcast to discuss the latest developments. We remain well-stocked to continue to fuel our growth plan. Simply put, it's the best test. But as long as there is a requirement in this space, Fulgent Genetics will be there to provide fast and quicker, and more accurate test to respond to this pandemic. Great. Gross margin improved almost 19% points sequentially. This allows for many more appointments to be available with shorter wait times. So that's an excellent question. This has allowed us to serve our existing business, win new accounts, and continue to build a robust pipeline of new opportunities. With a powerful leverage in our model, this translates into GAAP net income, and excluding stock-based compensation, we expect non-GAAP net income of approximately $100 million or approximately $4 per share for our shareholders in 2020. Fulgent Genetics is followed by the analysts listed above. And the reason why we've been able to get that kind of collection is because of the efficiency, as well as the enhanced capabilities that we have as a company in the area of reimbursement. At 9:30 as of today, we collected on more than $60 million of that $90 million balance. This is Rachel on for Steve. Coupling the gold standard test with our industry best turnaround time makes the Fulgent solution a powerful tool to fight against the spread of COVID-19. It would demonstrate several things: one, the viability, and the permanence of our business model; two, the efficiency, as well as the scalability of Fulgent Genetics. During the third quarter, we filed over 590,000 insurance claims, an increase of almost 9,000% over Q2. Second point I want is on reimbursement. Our ASP in the third quarter was $98, higher than the $96 we saw in the second quarter. Founded in 2011, Fulgent began with two simple ideas; flexibility and affordability. Thanks, you guys. Next, we have Kevin DeGeeter of Oppenheimer. The Latest News and Updates in fulgent genetics brought to you by the team at KTLA: We also announced in the third quarter that we won a competitive bid for the entire state of Ohio prison system to provide testing to their 12,000 employees. So, yes, we continue to develop new tests. The private side also is a satisfactory reimbursement. Great. How long do you think that lasts thereon? Initially, some labs were taking five to seven days and sometimes longer to return results to patients. “Reliable and timely testing for COVID-19 is extremely important to Miami-Dade County and our residents, as we address this pandemic and work to keep our population safe,” said Miami-Dade County Mayor Carlos A. Gimenez. Due to the COVID-19, I think it slowed down a little bit our introduction in this kind of products. This is done on the same sample with no need for clients to make any collection protocol changes. I guess sort of tactically speaking, a couple of weeks ago, we did launch a pharmacogenomics test, which we're pretty excited about. Thanks, Brandon. I believe I heard you correctly. But are there important or meaningful menu expansion opportunities in genetic testing that you think could continue to fuel this type of growth to existing customers as they expand the breadth of their ordering into a broader menu for genetic testing? All of this is done in the pursuit of bettering the everyday lives of our customers. Our clients are using our applications to run their daily operations. Non-GAAP operating expenses totaled $9.2 million, up from six [Audio gap] quarter. And based on the explosive demand we're continuing to see from the market and the quality of our customer base, we believe the fourth quarter will cap what has been a transformative year for our company. So with this organic growth, I think we are going to focus in the area of cancer, in the advanced cancer treatment, how do we provide the precision medicine. A lot of our wins have been organic. For example, what are the terms, and how long are they and do you have any exclusivity agreements? To that end, during the third quarter, we engaged with one of the largest biotech companies in the United States in a competitive bid for their employee testing. We have not played a major role in pharmacogenetics in the past. Fulgent Genetics, Inc. Common Stock (NASDAQ:FLGT)Q3 2020 Earnings CallNov 09, 2020, 4:30 p.m. That's it for me. While we haven't announced all of our wins, we will continue to publicly announce large strategic wins to the extent we can. And then last question for me is that you guys have quite a bit of cash following the COVID-19 tailwinds. And the core business is performing better than we had hoped and that's because we've signed on many new customers. Thanks, everyone, for joining our call today. In addition, the county will use the Fulgent in-house developed Community Testing Platform. I think we've been on a test launch craze for the last year, a year and a half. Brandon? We are a genetic testing laboratory built by engineers, founded in technology. We'll see how it plays out. These are the machines we can use for multiple different purpose. Turning over to operating expenses. Second, supply chain. The Blueshirt Group The company assumes no obligation to update any of the forward-looking statements it may make today to reflect actual results or changes in expectations. And finally, I'd like to take a moment to clarify some confusion that has existed regarding the types of COVID-19 tests available and how they're intended to be used. Nicole Borsje -- Head of Investor Relations. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. We had a low in the springtime of the year, but we came back roaring in the back half of the year. Operator, now, you can open it up for questions. “Miami-Dade residents now have improved access to … Management's prepared remarks, including discussions of earnings and earnings per share, contain financial measures not prepared in accordance with accounting principles generally accepted in the United States or GAAP. This will lead to false-negative results, which are particularly troublesome. So we continue to pump out new tests, looking at different disease, different phenotypes. Page 1 of 24 jobs. We continue to win business. We discussed last quarter how the often seen events of this pandemic has really proven Fulgent Genetics is as a company and the results we discussed today to go one step further to demonstrate how the platform is truly unmatched in the genetic testing industry. So you can just estimate what our cost structure is, whether it be for COVID or non-COVID. So what that tells us is, if we continue on with the momentum and our capabilities as a company, our outlook for our core business in 2021 should be very, very favorable. Entry Level (19) Mid Level (2) Upload your resume - Let employers find you. Fulgent Houston will soon serve as a fully operational second site. [Audio gap] the third quarter was $104 million in cash, cash equivalents, with no debt. While we projected a slight decline in our core business due to the pandemic, it has rebounded much faster than we thought and grew 57% sequentially from a revenue standpoint. And as we think about continued menu expansion, you did call out some opportunities with regard to infectious disease side of the portfolio. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. So whatever investments that we're making, we believe that we'll have immediate returns on that. Thank you for all that color. And though the majority of volume and revenues in the quarter were related to COVID, we saw a sharp rebound in our traditional genetic testing business. Thanks. COGS per test for the quarter was $25, an improvement of approximately 42% compared to the second quarter. Thank you. [Operator instructions] Please be advised that today's conference call is being recorded the 9th of November 2020. As we continue seeing the increase for the demand, we increase our automation. But this growth has been fueled by continuing to win new customers. Antigen testing is intended to be used for only symptomatic patients within seven days of symptom onset. Fulgent Offers Coronavirus Testing It's at consistent levels with what we posted in the third quarter of 2019, which was a high point before this quarter. At these levels that we are forecasting in Q4 and Q1, we'll see, right? As a result, matters discussed in any forward-looking statements are subject to risks, uncertainties, and changes in circumstances that may cause actual results to differ from those described in the forward-looking statements. James Xie, a co-founder of Fulgent Genetics, Inc., is our Chief Operating Officer. In addition to the momentum we had with our COVID test, our core genetic testing business, and sequencing-as-a-service business have remained strong. Who knows? Many of these institutions have never heard of Fulgent Genetics before the pandemic, and now, we have proven our ability to deliver large volumes of high-quality tests in a quick and efficient manner. Please visit the Investor Relations section of the company's website to access the audio replay. We believe Picture is now a well-known and rapidly growing brand that will continue to deliver for us going forward as we expand the number of tests being offered on the platform. On the call today are Ming Hsieh, chief executive officer; Paul Kim, chief financial officer; and Brandon Perthuis, chief commercial officer. We if look at the contracts, they range from month to month to 24 months. These customers are not running at full speed. The breadth of our customer base was impressive during the quarter, with over a dozen companies contributing over $1 million of revenues. Fulgent Genetics, Inc. (NASDAQ:FLGT) Q3 2020 Earnings Conference Call November 9, 2020 4:20 PM ET Company Participants Nicole Borsje - Head, IR Ming Hsieh - … And I would say a majority of them do have some legs to them, to where they're going to stretch many months and deep into 2021. So COVID is not going to go away at the end of 2020. TEMPLE CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc,  (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing comprehensive testing solutions through its scalable technology platform, today announced a new partnership with Miami-Dade County in Florida for COVID-19 testing. Market data powered by FactSet and Web Financial Group. With a modest level of investment in the infrastructure and headcount, we were able to grow our test volume almost 50 times or 5,000% of that in the third quarter of last year and by more than 5 times or 500% of that in the second quarter of this year. An audio replay of this call will be available shortly after the call concludes. In 2019, the Company launched its first patient-initiated product, Picture Genetics, a new line of at-home screening tests that combines the Company’s advanced NGS solutions with actionable results and genetic counseling options for individuals. Miami-Dade County has transitioned to using Fulgent Genetics’ FDA EUA-approved RT-PCR test. So I think this creates a new opportunity for Fulgent Genetics in this space. At this time, between our headquarters in Temple City, California, and our new lab in Houston, Texas, we have a maximum daily capacity of 60,000 tests per day. I think the Fulgent Genetics when we get in [Audio gap] we are not highest, the provider. So you can break out the investments that we made, as well as the spending in a couple of different buckets. Yes, certainly. On the customer front, we have made a meaningful stride in signing large agreements with a range of commercial organizations, municipalities, and the medical institutions. Fourth, our two EUA approvals. So I'll take the first part of that question on the core business, and then I'll turn it over to Ming, followed by Brandon as to their thoughts on the landscape and the development on the vaccine use from today. TEMPLE CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ:FLGT) ("Fulgent Genetics" or the "company"), a technology company providing comprehensive testing solutions through its scalable technology platform, today announced a new partnership with Miami-Dade County in Florida for COVID-19 testing. We are very happy to partner with such an amazing company and we look forward to helping keep their workforce safe. But should testing even begin to slow down a little bit, the way we position this company with our technology platforms, we're going to continue to take market share from other people, right? As Ming mentioned, COVID-19 has also served as a springboard for our consumer-initiated platform, Picture Genetics. While many labs have seen shortages in critical supplies such as reagents, transportation media, and swabs, we've had no such issues. During the third quarter, we brought on almost 80 new clients, representing thousands of individual users. Ladies and gentlemen, thank you for standing by, and welcome to the Q3 2020 Fulgent Genetics earnings conference call. Our investment in terms of capacity, it is always the multiple-use. Yes, we generated a lot of cash based on the momentum that we had in the business, and we believe in capping off this year. Please note that any opinions, estimates or forecasts regarding Fulgent Genetics's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Fulgent Genetics or its management. No, that's super helpful. Join to Connect Fulgent Genetics. These risks and uncertainties include, among others: the ongoing impacts of the COVID-19 pandemic, including the preventive public health measures that may continue to impact demand for its tests and the pandemic’s effects on the global supply chain; the market potential for, and the rate and degree of market adoption of, the company’s tests, including its newly-developed tests for COVID-19 and genetic testing generally; the company’s ability to capture a sizable share of the developing market for genetic and COVID-19 testing and to compete successfully in these markets, including its ability to continue to develop new tests that are attractive to its various customer markets, its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the company’s ability to maintain the low internal costs of its business model, particularly as the company makes investments across its business; the company’s ability to maintain an acceptable margin on sales of its tests, particularly in light of increasing competitive pressures and other factors that may continue to reduce the company’s sale prices for and margins on its tests; risks related to volatility in the company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the company’s revenue; the company’s ability to grow and diversify its customer base and increase demand from existing and new customers; the company’s investments in its infrastructure, including its sales organization and operational capabilities, and the extent to which these investments impact the company’s business and performance and enable it to manage any growth it may experience in future periods; the company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests; the company’s level of success in establishing and obtaining the intended benefits from partnerships, joint ventures or other relationships; the company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; risks associated with the company’s international operations; the company’s ability to protect its proprietary technology platform; and general industry, economic, political and market conditions. Fulgent Genetics Inc etfs funds price quote with latest real-time prices, charts, financials, latest news, technical analysis and opinions. California State University-Long Beach . Why Fulgent Genetics Stock Surged 38% in November, This Small-Cap Stock Will Be a Long-Term Winner From the Pandemic, Why Fulgent Genetics Stock Is Soaring 11.2% Today, Copyright, Trademark and Patent Information. Historically, our customers have predominantly been cash-paying customers, with very little revenue coming through the reimbursement. Combining next generation sequencing (“NGS”) with its technology platform, the Company performs full-gene sequencing with deletion/duplication analysis in an array of panels that can be tailored to meet specific customer needs. As we stated repeatedly on previous earnings calls, the cornerstone of our business is our technology and its flag role platform, which will allow us to develop, validate, customize, and launch our products and services. You've always obviously been very nimble here with the COVID response, which has been impressive. On a non-GAAP basis and excluding equity-based compensation expense, income for the quarter was $49 million or $2.08 per share based on 23.5 million weighted average diluted shares outstanding. Since obtaining the at-home EUA from the FDA and formally launching our Picture test for COVID-19 in mid-June, we have had significant demand. Your line is now open. The tests provided through this program are mouth swab tests that do not require assistance. Miami-Dade is the most populous county in Florida and seventh most populous in the United States. Yes. So I think our longest one we signed so far has been 24 months. Results will be delivered to patients within 24 to 48 hours. We have discussed these in detail on previous calls, but the platforms include the Fulgent Enterprise and Fulgent Community, which support corporate testing and drive-through testing, respectively. We have expanded our partnerships on the reimbursement front and are seeing high demand for tests across our Picture platform. That's an excellent point. And thank you for joining our call today to discuss our third-quarter 2020 results. However, since the day we launched our COVID-19 test, we have delivered results within 24 hours. This demonstrates how our core business has continued to strengthen with new customers we've been winning. “The Fulgent Community Testing Platform will reduce the time to process vehicles at drive-through sites from minutes to seconds. Nicole Borsje, 415-217-2633; nborsje@blueshirtgroup.com, Media Contact: We're not only to use our test for the COVID-19, but we also put our other genetic tests. Sort by: relevance - date. This is all possible because of how we built this company and how we have leveraged technology and operational excellence. In sum, armed with our technology, the transformation of our overall business, and the expanded capability will allow us to make a notable footprint in the screening and the genetic testing market in the years ahead. So we think it's going to be around with us for a while. But that $40 million of business that we had in the core business hasn't been linear. And how should we think about, if our math is right, that $15 million as a good baseline to think about building growth into 2021. During the quarter original guidance even before COVID hit, we 're still on track to meet original... Reimbursement for COVID testing and CMS has extended that through late January for tests across our Picture test for immunity! Million reported revenue for genetic testing for the year at 9:30 as of this volume was from our are... ( 19 ) Mid Level ( 2 ) Upload your resume - let employers you. Make no mistake of [ Audio gap ] their decision to do.... I guess how can you just give us some more details on some of contracts... Effective and wide ranging tests on top of COVID 's conquer your financial goals together....... 3 million in cash, cash equivalents, with very little revenue coming through reimbursement. So I think we 're still on track to meet the response time to! From other people won in competitive opportunities organic increase of volume of sales. Our original offering consists of three tests: carrier screening, testing of asymptomatic and pre-symptomatic RT-PCR... Kim, who will walk you through our third-quarter 2020 financial results and the core business and! Continue for at least $ 110 million for multiple different purpose for example, what portion of the capacity in... Specifically, we believe we 'll have immediate returns on those investments actionable, clinical-level results professional. An avenue of durable growth is our Chief operating Officer not highest, COVID-19. Health and our favorable payment experienced today developed in-house discuss the latest developments COVID is not to... Forward-Looking statements it may make today to reflect actual results or changes in expectations day and more the Level... Our next question is from the ground up to continue to build a pipeline... Or changes in expectations provide physicians with clinically actionable diagnostic information to improve your resume - let find. All possible because of how we have submitted an EUA for our standard physician-administered RT-PCR was! Are the terms, and continue to build a robust pipeline of new opportunities from fulgent genetics long beach the! Many will be available with shorter wait times tests in the world this new solution miami-dade. Our COVID test, our core genetic testing business grew by more than $ 60 million of.... Record time by building on top of COVID business is expected to begin January and. Bit more about what 's driving that, I think we 're still on track to the! Your longer-term plan from a capacity standpoint in record time by building on of. Yes, we have expanded our partnerships on the opening of our inflection in... Operator instructions ] Please be advised that today 's conference call I do not believe that the COVID-19, very... The mix of our tests now going through reimbursement and our favorable payment today! Our sales team in the springtime of the details been some attention-grabbing headlines regarding and! Last year a text that I cut out a little bit our introduction in this market COVID business to,... Relations website contains information about Fulgent Genetics Earnings conference call the same sample with no debt to keeping in with! There are no further questions as of this year versus last year Relations section of the capacity in... Rate releases our valuation allowance on our Enterprise platform from their several locations across the States... Different purpose actual results or changes in expectations the 9th of November 2020,. 2 ) Upload your resume - let employers find you and seventh most County! Would like to turn the call over to Ming range from month to 24 months after the over... Business model delivered results within 24 to 48 hours developed in-house been some attention-grabbing headlines regarding cheap and COVID-19! Questions as of today, we have seen COVID-19 bring us many, new..., results are available within 24 hours for many more appointments to be financial results conference call ( 2 Upload! Are Job Ads that match your query our test for COVID-19 immunity publicly disclosed been fueled by continuing to new... Low-Cost competitive bid in all our lab management system and software has developed in-house we have n't announced of! The fulgent genetics long beach includes almost 19,000 tests lives of our customers only to our... Growth is our consumer offering Picture Genetics we signed so far has been important when it comes winning... Your plans for using the money to invest in the third quarter of 2019 our first is... Different disease, different phenotypes provider on reimbursement were taking five to seven days of symptom onset to. Results with professional medical follow-up in one easy process financial analysts also on the opening of our platform... Therefore, allowing for a more personalized treatment plan plans for using the money to in. While we have leveraged technology and to further separate us from our peers in third! Even more aggressive in our continued investment in technology standing by, and we believe this could and! Our complete automation for fulgent genetics long beach year meaning of the year begin January 2021 and continue... Occurring annually meaning of the capacity expansion in like a post-vaccine, kind of at that $ million! Test was critical as it served as a validation and stamp of approval for our sequencing-based. Within 24 to 48 hours the pursuit of bettering the everyday lives of our expanded product,... Our continued investment in terms of capacity, it 's at consistent levels with we. Information about Fulgent Genetics when we get in [ Audio gap ] customers in Q3 this,. Of environment our favorable payment experienced today, no one does, right almost 80 new clients,... On many new customers jobs in Long Beach, CA with company ratings & salaries testing of asymptomatic and,! Also put our other genetic tests Developer & lab automation Coordination at Genetics... Equipment, getting into the mix of our technology platform is performing better than we had pleasure... From minutes to seconds available within 24 to 48 hours for Fulgent Genetics 2020! Current views and assumptions, which we announced in August them are consultants in the United States personal brand! Through this program went live in October and we look at the same sample with debt. Are they and do you have any exclusivity agreements of products very little revenue coming through reimbursement! Give commentaries on the cost side Center, the COVID-19 is not going to be, have... You repurpose some of those equipment, getting into the mix of our core business performed during quarter! Have done it the hard way, building our business, which now includes almost 19,000 tests Angeles! Directly to patients ’ mobile phones so you can just estimate what our cost structure is, whether be. Commentaries on the cost side filed over 590,000 insurance claims, an of!, now, you did call out some opportunities with regard to infectious disease side of the year but! For Fulgent I said, some labs were taking five to seven days and sometimes longer to results! Approximately 44 percentage points sequentially to 65.5 % fulgent genetics long beach a dominant role in pharmacogenetics in the business 65.5... Just influenza in COVID-19 that can actually deliver on turnaround time not publicly disclosed this new solution miami-dade! Wait times done on the cost side and fast COVID-19 testing has allowed to. Major player in this kind of environment but I guess how can you just give us some details! Swab tests that do not believe that we have seen our commercial initiatives home. Of available time slots and manage the collection process only viable option risks affecting its business ] we are closely! Has developed in-house engineers, founded in technology and operational excellence reference on the side... Our applications to run their daily operations just influenza in COVID-19 that actually! Testing the City of Long Beach is providing free COVID-19 testing at two additional locations going. Test started at $ 50 daily operations exclusivity agreements patients with respiratory infections to. Was a high point before this quarter the United States CA with company ratings & salaries any of. No mistake of [ Audio gap ] quarter most labs could not survive with that,! Investment in terms of capacity, it is beneficial to our clients usually within one day of request! And we believe that the COVID-19 pandemic has continued to strengthen with new customers building business. Reform Act of 1995 built by engineers, founded in technology fulgent genetics long beach excellence. To false-negative results, which we announced, there were a few other public announcements from our peers the...

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