Fulgent Genetics reports Q2 EPS (38c), consensus (33c)

Reports Q2 revenue $67.85M, consensus $62.48M. Commenting on the results, Ming Hsieh, chairman of the board and CEO, said, “We are pleased with our results so far in the first half of the year, with record revenue for our core genetics business showing continued momentum in our three main areas — precision diagnostics, anatomic pathology, and pharma services. In our therapeutics development business, we are pleased with the medical community’s response to Phase 1b data for our lead drug candidate, FID-007, in various cancers, as presented at the American Society of Clinical Oncology annual meeting, and look forward to furthering this clinical program as we prepare for initiation of Phase 2 studies by the end of 2023.”