Cancer Test Focused Guardant Health Stock Falls On FDA AdCom Update For Colorectal Test



Thursday, Guardant Health Inc (NASDAQ:GH) reported fourth-quarter 2023 sales of $155.1 million, up 22% Y/Y, beating the consensus of $149.57 million.

Precision oncology revenue grew 25% to $142.2 million, driven predominantly by an increase in clinical and biopharma testing volume, which grew 29% and 16%, respectively. Development services and other revenue was $12.9 million.

The precision oncology company reported 46,400 tests to clinical customers and 9,500 tests to biopharmaceutical customers in the fourth quarter of 2023, representing increases of 29% and 16%, respectively.

The company reported adjusted EPS loss of $(0.64), beating the consensus of $(0.87). 

Guidance: Guardant Health expects full-year 2024 revenue, excluding screening, of $655 million-$670 million, compared to the consensus of $669.36 million. The company sees adjusted …

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