But another analyst said investors are not fully considering how much Fulgents large cash stockpile will help the company get through this transition. He added that the cost per test in the companys core, non-Covid testing portfolio generally runs above $200. For those with insurance, you can order up to 8 at-home COVID-19 test kits per month for freehere. Fulgent COVID-19 Test by Antibody Detection. If you experience any difficulties, please contact kiosk-managers-group@ucsc.edu. Activate the test right before you use it. 134 0 obj <> endobj Fulgent COVID-19 Test by RT-PCR. ljz]z;Q':VSOtTgDVT,R#j+tKtE57&\#++L-0d+:h+G<1JiNlt[+"+mi\9o*x`*a4y]YDt3}Cte?g_^VwW/}vztjGg>{IpEO/>QKo.v[~ 5jwW~zD7nF+Vxkx}~{Iab+5 But on the positive side, Fulgent quickly pivoted to coronavirus testing. In 2019, before the SARS-CoV-2 virus hit the U.S., Fulgent was a small genetic-testing company with about $30 million in annual revenue. Howard Fine is a 23-year veteran of the Los Angeles Business Journal. I wrote this article myself, and it expresses my own opinions. If you are positive for COVID-19 and have any symptoms, you, Childhood Lead Poisoning Prevention Program, Carbapenem-resistant Enterobacteriaceae (CRE), Early Childhood Education and School Toolkits, Tobacco Retail Enforcement Program (TREP), California Health Interview Survey (CHIS), symptoms of COVID-19 and how to care for yourself or someone in your home, View additional testing sites across Los Angeles County, Primary Care Provider or Healthcare Center Testing. Fulgent Genetics will send you an email to notify you when your results are ready to view. Appointments strongly suggested:Individuals who do not have access to the Internet or need assistance making an appointment online can call the City's Information Line at (562)570-INFO (4636) (open Monday - Friday, 9 a.m. to 5 p.m.). Take Your Test Before Your First Class. YLbs}Y:c2;UN30F_bxhe)rzG~0tf1-L7310pQ6AP=0 /% Long Beach City College requires all Fall 2021 students to be either fully vaccinated or take weekly COVID-19 testing. Investors who look only at the topline numbers, might end up missing the boat on Fulgent Genetics. An antigen test is a newer COVID-19 test that tells if you have a current infection. This material may not be published, broadcast, rewritten, or redistributed. Sales from Fulgent's core testing divisions are growing impressively and the company should see overall sales growth return in FY2024. Please disable your ad-blocker and refresh. Given the uncertainty about the speed of the FDAs response, Perthuis said he could not predict when the at-home test would hit the market. If your child has new or worsening symptoms such as trouble breathing, pain or pressure in the chest, feeling confused or having difficulty waking up, or blue-colored lips or face, call 911 or seek emergency medical attention instead of ordering this test. Fulgent Genetics, Inc. is based in Los Angeles. Chief Executive Ming Hsieh said on the earnings call that the company has developed and distributed two Covid-19 testing products and is developing an at-home test kit. The company ended the third quarter with just over $900 million in cash and marketable securities on its balance sheet against no long term debt. TEMPLE CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) ("Fulgent Genetics" or the "company"), a technology company providing comprehensive testing. Rapid antigen testing is available upon request at the testing site. CURRENT FULGENT TESTING SITES Santa Fe Springs Emergency Medical Services 10100 Pioneer Blvd., Ste 200 Santa Fe Springs, CA 90670 Hours: Tues: 11 a.m. - 12 p.m. Castaic 1110 N. Eastern Ave Pitchess Detention Center (Visitor) - -Mobile 29320 The Old Rd Castaic, CA 91384 Hours: Mon: 6 a.m. - 10 a.m. Downey Rancho Los Amigos 7601 Imperial . Fulgent Pharma has since been run as a private cancer therapeutics company by Hsieh and the other Fulgent Therapeutics co-founder Ray Yin. Fulgent Genetics to utilize the company's FDA EUA-approved RT-PCR test for. Photo courtesy of Long Beach Convention & Visitors Bureau. When you enter this information, Healthvana will send your contacts an anonymous notification. L.A. County provided this photos of its free, at-home testing kits. Pop-up testing does not require appointments. We provide a pre-paid overnight shipping label with the test kit. A positive antigen test result is considered accurate when instructions are carefully followed. That could determine how low revenue will go until the growing non-Covid revenue kicks in, he said. General questions: COVID-19 HOTLINE 714.834.2000. This clinic is for students up to grade 12, faculty and staff who are symptomatic or who need a clear test to return to school following a COVID-19 infection or post-quarantine. Testing is currently recommended, regardless of vaccination, if you: Have COVID-19 symptoms Have been a "close contact" to someone with COVID-19 within the last 14 days * If you have had a positive test for COVID-19 in the last 90 days, you do not need to get tested as long as you do not have symptoms of COVID-19. I expect Fulgent to continue to use its cash hoard to make further strategic 'bolt-on' acquisitions in the quarters/years ahead as it builds out a comprehensive diagnostics platform. 2.9 mi miles. FACT SHEET: COVID-19 TEST TO TREAT. Follow the instructions included in the test kit to: You will receive your result within 48 hours after the lab receives your sample. To request mobile testing, please complete the form below. q0 qz Temple City-based Fulgent Genetics Inc., which rode the Covid testing wave to become a billion-dollar company, now has a new post-Covid strategy, and its a hefty dose of back to the future. They also expect to begin Phase 2 and 3 trials in two to three additional target indications in the next one to two years, with data readouts over the next three to four years. However, 'core' testing sales are seeing impressive growth and the company has a massive amount of cash on its balance sheet. Walk-up testing by Covid Clinic. When buying cowboy boots, there are a few aspects to consider, such as how far up they go on your legs and their design. Fulgent saw testing volume decline roughly 30% in March, the companys chief financial officer, Paul Kim, said on a May 4 earnings call with analysts. Management guided fourth quarter sales to $60 million which was far under the consensus. TEMPLE CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) ("Fulgent Genetics" or the "company"), a technology company providing comprehensive testing. This diagnostic firm offers various Covid-19, molecular diagnostic, and genetic tests. Individuals would receive results back within a matter of days. There were several small sales from numerous sales totaling just less than $200,000 in aggregate in the fourth quarter of last year. Hsieh said Fulgents test analyses offer a rapid turnaround time, though he didnt specify the exact amount of time. Six years ago, Fulgent Pharma and Fulgent Genetics were both part of a company called Fulgent Therapeutics, which was co-founded in 2011 by then-billionaire Ming Hsieh with proceeds from his $940 million sale the previous year of biometric security company Cogent to IBM. GTR Test ID Help Each Test is a specific, orderable test from a particular laboratory, and is assigned a unique GTR accession number. The L.A. County Home Test Collectionprogram offers all country residents with a nasal swab kit via mail. testing revenues but had some key things going for it over the longer term. The current analyst firm consensus has Fulgent making $5.60 a share in FY2022 as revenues fall nearly 40% to approximately $610 million. Now we have vaccines for COVID too. He said the test analysis takes longer than the more common method but can yield more useful data for researchers in their quest to develop treatments and vaccines against the virus. See details at Medicare Covers Over-the-Counter COVID-19 Tests . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 323-549-5225, Los Angeles Business Journal | Website by Web Publisher PRO. Yes, you should only order this test if you intend to use it within 3-5 days. Over 20% of those getting tested are positive for the virus, county officials said Monday. I am not receiving compensation for it (other than from Seeking Alpha). Lab has notified Laboratory Field Services that it performs COVID-19 testing via the COVID-19 Notification Form. This is hardly unique to Fulgent. Select Rite Aid locations are offering free COVID-19 testing to anyone with a government-issued ID. Congratulations to the winners of this years National Association of Counties (NACo) awards. You must have an email account to sign up. Businesses that do require that their employees be tested should work with their insurance providers or private testing organizations to provide this testing for employees. available at hundreds of locations nationwide,including pharmacy-based clinics. Today, we revisit Fulgent Genetics.The company continues to manage through a huge drop off in Covid testing revenues as the pandemic ebbs. Disclaimer: It is up to each individual to verify information and check with the test site regarding the insurance they take and any co-pays that are expected at time of testing, Centers for Disease Control and Prevention, Long Term Care and Residential Care Facilities for Elderly, healthy.kaiserpermanente.org/southern-california/health-wellness/coronavirus-information, www.cvs.com/minuteclinic/covid-19-testing, http://www.ucihealth.org/patients-visitors/pricing-transparency/covid-19-test-billing. For Fulgent investors, this is the flip side of the companys extremely rapid growth since the pandemic began. I wrote this article myself, and it expresses my own opinions. Best overall: Everlywell. There will be no cost to you. Mobile COVID-19 testing was launched to provide a community-based service to those who are not able to travel to one of the citys testing sites. In the most recent quarter, Fulgent's revenue grew to $126 million, a 124% increase over the third quarter of 2020. 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