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Guardant Health Reports Third Quarter 2022 Financial Results
Q3 clinical and biopharma volumes up 42% and 40% 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":"\nQ3 clinical and biopharma volumes up 42% and 40% 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 ended September 30, 2022.\n\nRecent Highlights\n\n\nRevenue of $117.4 million for the third quarter of 2022, an increase of 24% over the corresponding period of 2021\n\n\nReported 32,400 tests to clinical customers and 6,750 tests to biopharmaceutical customers in the third quarter of 2022, representing an increase of 42% and 40%, respectively, over the third quarter of 2021\n\n\nExpanded Guardant Reveal™ , the only tissue-free liquid biopsy test for detection of residual and recurrent disease, to include early-stage breast and lung cancers in addition to colorectal cancer\n\n\nIntroduced GuardantINFINITY™, a next-generation smart liquid biopsy assay that provides broad genomic and epigenomic insights into the complexities of tumor molecular profiles and immune response to advance cancer research and therapy development\n\n\nReceived FDA approval for Guardant360® CDx liquid biopsy test as a companion diagnostic for ENHERTU® for treatment of non-small cell lung cancer patients with activating HER2 mutations\n\n\nECLIPSE readout and PMA submission for Shield assay both expected during the fourth quarter of the year\n\n\n“Volume growth accelerated sequentially in clinical oncology, propelling us to new records in revenue and volumes. We made additional strides with Guardant Reveal, expanding its use into multiple cancer indications that now include colorectal, lung and breast cancers. In addition, Guardant Infinity, our first smart liquid biopsy offering, has seen a rapid uptake with our biopharma partners. That said, counter to our expectations earlier in the year, clinical volumes continue to be impacted by a challenging backdrop with lingering access restrictions and provider staffing shortages.” said Helmy Eltoukhy, co-founder and co-CEO.\n\n“During the quarter we made great progress on the ECLIPSE study and are very close to locking our study database with about 70 CRCs. In parallel, our Shield LDT screening test continues to be well received by physicians and patients and has demons...