Business
Natera Reports Second Quarter 2019 Financial Results
SAN CARLOS, Calif., Aug. 7, 2019 /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., Aug. 7, 2019 /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 its second quarter ended June 30, 2019 and provided an update on recent business progress.\n\n \nRecent Accomplishments & Highlights\nGenerated total revenues of $74.4 million in the second quarter of 2019, compared to $63.1 million in the second quarter of 2018, an increase of 18%. Processed 195,168 tests in the second quarter of 2019, compared to approximately 162,807 tests processed in the second quarter of 2018, an increase of approximately 20%. Processed approximately 133,300 Panorama tests in the second quarter of 2019, compared to approximately 113,300 Panorama tests processed in the second quarter of 2018, an increase of approximately 18%. Accessioned approximately 53,100 Horizon carrier screening (HCS) tests in the second quarter of 2019, compared to approximately 41,800 HCS tests accessioned in the second quarter of 2018, an increase of approximately 27%. Completed successful pre-submission meeting and submitted dossier to Medicare supporting Signatera reimbursement in colorectal cancer. Completed key technical and commercialization milestones for Signatera and Panorama with sequencing partner. Announced launch of ProActive trial, a 3,000 patient registry study evaluating Prospera™ Kidney Assessment Test. Received favorable draft local coverage determination for Prospera from Noridian. \"Q2 was a strong quarter for Natera,\" said Steve Chapman, Natera's Chief Executive Officer. \"We saw strong volume growth and improved average selling price per test. We're hitting key milestones in our oncology and transplant businesses and we remain on track to achieve our goals this year.\"\nSecond Quarter Ended June 30, 2019 Financial Results \nTotal revenues were $74.4 million compared to $63.1 million for the second quarter of 2018, an increase of 18%. The increase in total revenues was driven primarily by sales of our Panorama and HCS tests. There were 195,168 tests processed in the second quarter of 2019, including approximately 181,800 tests accessioned and 12,000 processed through the Constellation software platform (Constellation units), compared to 162,807 tests processed in the second quarter of 2018, including approxim...