Fulgent Genetics Launches Picture Genetics, a Consumer-Initiated Genetic Testing Offering
The launch of Picture Genetics combines the capabilities and experienced genetic scientists from Fulgent Genetics’ accredited clinical laboratory with the ease and convenience of at-home genetic tests. Customers order test kits online, complete a sample collection at home and return the kits for processing and analysis by Fulgent. Customers receive results that have been reviewed by an independent external physician, as well as genetic counseling support to help them better understand their screening results. Fulgent has partnered with PWNHealth, an independent provider network, for physician review and genetic counseling.
Picture Genetics will offer three distinct at-home test options: Picture Parenting, Picture Newborn, and Picture Wellness. Available today, Picture Parenting is a carrier screening test that gives prospective parents better insight into their status as carriers of variants in 30 different genes which could affect their children. Picture Newborn and Picture Wellness will be available in the coming months and will offer insight into health risks based on genetic markers. All three tests are completed at home without the need for a doctor visit or insurance.
Every year, millions of consumers seek access to their genetic data to gain insight into their health and family history, and for more educated family planning. While consumers have numerous options when considering at-home screening, Picture Genetics is a unique at-home test because each test includes a complete next generation sequencing analysis of DNA, a more comprehensive method than other providers who perform genotyping to look at a small snapshot of genes. Picture Genetics provides medically actionable, clinical-level results with professional medical follow-up in one easy process.
"We are very excited about the launch of Picture Genetics, our consumer-initiated test offering which enables us to deliver our advanced genetic testing capabilities to a much broader audience in an accessible manner," said
For more information on genetic test offerings from Picture Genetics, please visit www.picturegenetics.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements in this press release include statements about, among other things: the uniqueness and comprehensiveness of the company’s at-home genetic testing products, the ability of the company’s at-home genetic testing products to provide medically actionable, clinical-level results with professional medical follow-up, the company’s ability to deliver its at-home genetic testing products to a broad audience, and the company’s ability to enable couples to make informed choices in family planning through the use of the company’s at-home genetic testing products.
Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the company’s future performance, and they are based on management’s current assumptions, expectations and beliefs concerning future developments and their potential effect on the company’s business. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. These risks and uncertainties include, among others: the market potential for, and the rate and degree of market adoption of, the company’s tests and genetic testing generally; the company’s ability to capture a sizable share of the developing market for genetic testing and compete successfully in this market, including its ability to continue to develop new tests that are attractive to its various customer markets and otherwise keep pace with rapidly changing technology; the company’s ability to maintain the low internal costs of its business model, particularly as the company makes investments across its business; the company’s ability to maintain an acceptable margin on sales of its tests, particularly in light of increasing competitive pressures and other factors that may continue to reduce the company’s sale prices for and margins on its tests; risks related to volatility in the company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the company’s revenue; the company’s ability to grow and diversify its customer base and increase demand from existing and new customers; the company’s investments in its infrastructure, including its sales organization and operational capabilities, and the extent to which these investments impact the company’s business and performance and enable it to manage any growth it may experience in future periods; the company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests; the company’s level of success in establishing and obtaining the intended benefits from partnerships, joint ventures or other relationships; the company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; risks associated with the company’s international operations; the company’s ability to protect its proprietary technology platform; and general industry, economic, political and market conditions. As a result of these risks and uncertainties, forward-looking statements should not be relied on or viewed as predictions of future events.
The forward-looking statements made in this press release speak only as of the date of this press release, and the company assumes no obligation to update publicly any such forward-looking statements to reflect actual results or to changes in expectations, except as otherwise required by law.
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Source: Fulgent Genetics, Inc.