Business
Natera Reports Second Quarter 2020 Financial Results
SAN CARLOS, Calif., Aug. 5, 2020 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a pioneer and global leader in cell-free DNA testing, today reported financial
About this update from Natera, Inc.
[{"type":"text","content":"SAN CARLOS, Calif., Aug. 5, 2020 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a pioneer and global leader in cell-free DNA testing, today reported financial results for the second quarter ended June 30, 2020 and provided an update on recent business progress.\n\n \n \n \n \n \n \n\n \nRecent Accomplishments & Highlights\nProcessed approximately 234,100 tests in the second quarter of 2020 compared to approximately 194,200 tests processed in the second quarter of 2019, an increase of 21%. Generated total revenues of $86.5 million in the second quarter of 2020 compared to $74.4 million in the second quarter of 2019. Published Signatera™ study in Nature Cancer validating ability to monitor tumor response to immune therapy in 25 different types of solid cancer. Launched the PEDAL study designed to demonstrate Prospera test enhancements at the American Transplant Conference. Presented four abstracts, including one oral presentation and three poster presentations, at the American Society for Clinical Oncology conference demonstrating the performance of Signatera in areas including colorectal cancer and hepatocellular carcinoma. Enrolled first patients in both CIRCULATE-Japan and BESPOKE CRC for Signatera in colorectal cancer, and in PROACTIVE for Prospera. Received positive coverage from Noridian for Prospera; commenced full commercial launch. Received the Force for Change Illuminator Award from Leading Women Entrepreneurs.\"The business was very resilient in the second quarter,\" said Steve Chapman, Natera's Chief Executive Officer. \"We posted another very strong volume and revenue result despite the COVID-19 impact, and we achieved major milestones across the oncology and transplant businesses. We are very proud of the team's performance during this challenging time.\" \nSecond Quarter Ended June 30, 2020 Financial Results \nTotal revenues were $86.5 million in the second quarter of 2020 compared to $74.4 million for the second quarter of 2019. The increase in total revenues was driven primarily by sales of Natera's Panorama and Horizon tests. Natera processed 234,100 tests in the second quarter of 2020, including approximately 221,600 tests accessioned in its laboratory, compared to 194,200 tests processed in the second quarter of 2019, including approximately 181,600 tests accessioned in its laboratory. \nIn the three months ended...