| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3366 Registered: 05-2011 Posted From: 65.35.45.47 Rating: N/A |
FLGT is a provider of genetic testing and Next Generation Sequencing services. Its initial focus has been on offering comprehensive genetic testing to provide physicians with clinically actionable diagnostic information. The company has developed a proprietary technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated lab processes. The company believes its current test menu, which includes approximately 18,000 single-gene tests and more than 850 multi-gene, disease-specific panels, offers more genes for testing than its competitors in today's market. The stock has been moving up of late as FLGT has recently become somewhat of a coronavirus play. It now offers end-to-end processing, analysis and reporting for its recently launched COVID-19 tests. The company is currently accepting samples directly to its lab in California. Its lab has the capacity to accept and process thousands of samples per day for COVID-19 testing alone. Rapid turnaround time is crucial. Over 95% of FLGT's COVID-19 reports have been delivered to providers within 24 hours, and many have been delivered within the same day. In early August, FLGT reported very strong upside to Q2 results. It also said that Q2 volume increased over 1200% sequentially, and FLGT expects momentum through the balance of the year. Its traditional genetic testing orders rebounded in June and July and orders are on track for growth in 2H20. In terms of COVID-19, FLGT says it has been aggressively applying its technology platform, which has resulted in overall average selling price of less than $100 per test, while shortening the average turnaround time to less than 24 hours |