Business
Natera Reports Fourth Quarter and Year 2019 Financial Results
SAN CARLOS, Calif., Feb. 26, 2020 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a leader in non-invasive genetic testing and the analysis of circulating
About this update from Natera, Inc.
[{"type":"text","content":"SAN CARLOS, Calif., Feb. 26, 2020 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a leader in non-invasive genetic testing and the analysis of circulating cell-free DNA, today reported financial results for the fourth quarter and the year ended December 31, 2019 and provided an update on recent business progress.\n\n \n \n\n \nRecent Accomplishments & 2019 Highlights\nGenerated total revenues of $83.2 million in the fourth quarter of 2019 compared to $67.0 million in the fourth quarter of 2018, an increase of 24%.Generated total revenues of $302.3 million in the year 2019 compared to $257.7 million in the year 2018, exceeding the 2019 revenue guidance range previously provided. Processed approximately 209,400 tests in the fourth quarter of 2019 and 804,300 tests for the full year 2019, compared to approximately 174,200 tests processed in the fourth quarter of 2018 and 668,600 tests for the full year 2018. Signed $50 million agreement with BGI Genomics Co., Ltd. to commercialize NGS-based genetic assays for clinical use in China and select markets. Successfully completed initial key milestones. Entered into partnership to develop and commercialize personalized circulating tumor DNA monitoring assays with Foundation Medicine, Inc. Successfully completed initial key milestones. Received a positive draft local coverage decision from Medicare for reimbursement of Signatera™ in colorectal cancer. Launched the BESPOKE CRC study, a nationwide multi-center registry study for patients diagnosed with Stage II-III colorectal cancer that will prospectively enroll 1,000 or more patients at time of surgery. Selected by National Cancer Center of Japan for the CIRCULATE-IDEA trial in Japan, a prospective, multi-center, randomized trial for patients with Stage II-III colon cancer. Achieved total cumulative value of signed contracts for Signatera with pharmaceutical companies exceeding $55 million. Received a positive final coverage decision from Medicare for reimbursement of Prospera™ in kidney transplant rejection screening. Hired Eric Evans, a co-founder of Counsyl, as Chief Scientific Officer.\"2019 was a transformational year for Natera,\" said Steve Chapman, Natera Chief Executive Officer. \"We delivered strong volume growth, consistent average selling price expansion, and reduced cost of goods sold per unit in our reproductive health business....