Fulgent Genetics Provides Update on Testing for COVID-19
With the ability to offer end-to-end testing for COVID-19, Fulgent can more efficiently manage the demand it is seeing for both its RT-PCR and NGS tests for the virus. The company’s lab has the capacity to accept and process thousands of samples per day for COVID-19 testing alone.
“Fulgent’s proprietary and flexible technology platform has enabled us to rapidly pivot our resources amid the need for COVID-19 testing solutions, and we have been able to apply our experience and know-how to help meet testing needs during this pandemic,” said
In conjunction with the new tests for the COVID-19 virus, Fulgent also launched a new web-based portal for the delivery of COVID-19 test results. This portal has been customized to make it easy for physicians to access their results across multiple platforms, and allows physicians to track samples in progress to quickly determine whether results are positive, negative or indeterminate.
Fulgent also announced that it has submitted several COVID-19 tests to the
Providers should refer to the most current
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: anticipated timing, availability, demand for and effectiveness of the company’s testing products for COVID-19.
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 maintain the low internal costs of its business model; 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; 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.
The company’s reports filed with the
For More Information on Fulgent’s COVID-19 Tests:
Source: Fulgent Genetics, Inc.