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Guardant Health Reports Fourth Quarter and Full Year 2022 Financial Results and Provides 2023 Outlook
Q4 clinical and biopharma volumes up 41% and 24% year over year PALO ALTO, Calif.--(BUSINESS WIRE)-- Guardant Health, Inc. (Nasdaq: GH), a leading precision
About this update from Guardant Health, Inc.
[{"type":"text","content":"\nQ4 clinical and biopharma volumes up 41% and 24% year over year\n\n PALO ALTO, Calif.--(BUSINESS WIRE)--\nGuardant Health, Inc. (Nasdaq: GH), a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary tests, vast data sets and advanced analytics, today reported financial results for the quarter and full year ended December 31, 2022.\n\nFourth Quarter 2022 Financial Highlights\n\n\nRevenue of $126.9 million for the fourth quarter of 2022, an increase of 17% over the fourth quarter of 2021.\n\n\n\nReported 36,000 tests to clinical customers and 8,200 tests to biopharmaceutical customers in the fourth quarter of 2022, representing an increase of 41% and 24%, respectively, over the fourth quarter of 2021.\n\n\nFull Year 2022 Financial Highlights\n\n\nRevenue of $449.5 million for the full year 2022, an increase of 20% over the full year 2021.\n\n\n\nReported 124,800 tests to clinical customers and 26,000 tests to biopharmaceutical customers in the full year 2022, representing an increase of 42% and 40%, respectively, over the full year 2021.\n\n\nRecent Highlights\n\n\nDemonstrated 83% sensitivity and 90% specificity in pivotal ECLIPSE study evaluating Shield for colorectal cancer detection. Separately, Guardant Shield LDT has shown greater than 90% adherence in real world settings.\n\n\n\nAnnounced FDA approval for Guardant360 CDx as companion diagnostic for ORSERDU for treatment of patients with ESR1 mutations in ER+, HER2- advanced or metastatic breast cancer.\n\n\n\nObtained coverage for Guardant360 CDx tests in lung and breast cancer from United Healthcare.\n\n\n\nIntroduced Guardant Galaxy suite of advanced AI analytics in partnership with Lunit to enhance our portfolio of cancer tests starting with the Guardant360 TissueNext PD-L1 test, shown to improve biomarker detection by >20% in NSCLC.\n\n\n“2022 marked another year of great progress at Guardant Health. We achieved record revenues and volumes during the year, launched new offerings in minimal residual disease with multi cancer Reveal and expanded market access for our tests. We also launched our Smart Liquid Biopsy platform, which we believe will drive the next chapter of growth for our oncology business and enable significant R&D efficiency and operating leverage. With the approval of our first companion diagnostic i...