PALO ALTO, Calif. - Guardant Health , Inc. (NASDAQ: NASDAQ:GH), a precision oncology company valued at $4.3 billion, has announced a partnership with pharmaceutical company Boehringer Ingelheim to seek regulatory approval for Guardant360® CDx, a liquid biopsy test, as a companion diagnostic for zongertinib, Boehringer's investigational drug for non-small cell lung cancer (NSCLC). The company has shown impressive revenue growth of 29.2% over the last twelve months, according to InvestingPro data.
The Guardant360 CDx test is designed to perform comprehensive genomic profiling of tumors from a simple blood draw, identifying patients with HER2 mutations in NSCLC who may benefit from zongertinib. HER2 mutations are present in a subset of NSCLC cases, and patients with these mutations often have limited responses to conventional chemotherapy and immunotherapy. With a healthy gross profit margin of 60.31% and strong liquidity position, Guardant Health maintains robust financial flexibility to advance its diagnostic solutions.
The collaboration aims to enable oncologists to use the Guardant360 CDx test to identify advanced lung cancer patients suitable for treatment with zongertinib, pending approval by health authorities. Guardant Health’s chairman and co-CEO, Helmy Eltoukhy, highlighted the potential of the collaboration to improve targeted therapy selection for the many patients diagnosed annually with this mutation.
Guardant360 CDx is the first FDA-approved comprehensive liquid biopsy for all advanced solid tumors and is already approved as a companion diagnostic for multiple targeted therapies in NSCLC. It is also the only FDA-approved test to identify patients eligible for breast cancer therapy targeting ESR1 mutations and has broad commercial and Medicare coverage.
Guardant Health, founded in 2012, focuses on providing insights into the drivers of cancer through blood and tissue tests, real-world data, and AI analytics, aiming to improve patient outcomes at all stages of care.
This press release contains forward-looking statements regarding the potential benefits of the Guardant360 CDx tests and the collaboration with Boehringer Ingelheim, which are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. InvestingPro analysis reveals 10 analysts have revised their earnings upwards for the upcoming period, with comprehensive financial insights available in the Pro Research Report, part of InvestingPro's coverage of 1,400+ US stocks. The information is based on a press release statement and reflects Guardant Health's views as of today.
In other recent news, Guardant Health has reported its financial results for the third quarter of 2024. The earnings call, led by Zarak Khurshid, Vice President of Investor Relations, included participation from Co-CEOs Helmy Eltoukhy and AmirAli Talasaz, and CFO Mike Bell. The call provided forward-looking statements and a discussion of non-GAAP financial measures, emphasizing the potential discrepancies between projected and actual results.
While no specific financial details such as revenue and earnings per share were disclosed in the summary, the absence of reported financial misses suggests that Guardant Health may have met its expectations for the quarter. The management team also highlighted that the company does not intend to update or revise financial projections or forward-looking statements unless required by law, underscoring the unpredictable nature of the market and the company's financial performance.
These developments are part of Guardant Health's recent activities, as the company continues to provide accurate financial reporting and transparency to its investors, while acknowledging the potential changes that could arise in the future.
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