Fulgent Genetics gains on forecast raise, buyout of Inform Diagnostics

Fulgent Genetics

18/04/2022 22:41

** Shares of genetic testing firm  FLGT.O  rise ~5% to
$57.75 in extended trading
    ** Co to buy Texas-based pathology laboratory Inform
Diagnostics for ~$170 mln
    ** FLGT also raises annual core revenue outlook to ~$175 mln
from $120 mln  urn:newsml:reuters.com:*:nASA037EJ
    ** It expects total revenue of about $300 mln for Q1 ended
March 31, compared with previous guidance of $245 mln
    ** Deal expected to close during Q2 2022
    ** Up to Monday's close, FLGT shares down ~45% this year

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))