Business
Natera Reports Third Quarter 2020 Financial Results
SAN CARLOS, Calif., Nov. 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., Nov. 5, 2020 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a pioneer and global leader in cell-free DNA testing, today reported financial results for the third quarter ended September 30, 2020 and provided an update on recent business progress.\n\n \n \n \n \n \n \n\n \nRecent Accomplishments & Highlights\nProcessed approximately 262,000 tests in the third quarter of 2020 compared to approximately 200,200 tests processed in the third quarter of 2019, an increase of 31%. Generated total revenues of $98.1 million in the third quarter of 2020 compared to $77.9 million in the third quarter of 2019, an increase of 26%. Generated product revenues of $93.3 million in the third quarter of 2020 compared to $66.9 million in the third quarter of 2019, an increase of 39.5%. Practice Bulletin published by American College of Obstetrics and Gynecology (ACOG) and Society of Maternal Fetal Medicine (SMFM) supporting use of Non-Invasive Prenatal Testing (NIPT) for all pregnancies. Received positive final coverage decision from Medicare for Signatera™ in colorectal cancer and commenced full commercial launch. Received draft local coverage determination from Medicare for Signatera in immunotherapy monitoring. Presented new Signatera data at the 2020 European Society for Medical Oncology. Announced two prospective phase 2 trials to evaluate early stage breast cancer patients with leading pharmaceutical companies. Successfully completed $287.5 million follow-on equity offering.\"Q3 was an exceptional quarter,\" said Steve Chapman, Natera's Chief Executive Officer. \"We delivered a significant increase in volumes over an already strong second quarter. We are pleased with the initial positive reaction to the ACOG/SMFM Practice Bulletin, and continue to execute nicely on our oncology and organ health commercialization plans. After years of hard work, we're now seeing the new businesses contribute to our strong revenue growth. We are very excited about our current trajectory and are significantly raising our 2020 revenue guidance.\"\nThird Quarter Ended September 30, 2020 Financial Results \nTotal revenues were $98.1 million in the third quarter of 2020 compared to $77.9 million for the third quarter of 2019. The increase in total revenues was driven primarily by a 39.5% increase in product revenues compared to the third quarter of 20...