Guardant Health jumps after FY revenue forecast raise

Guardant Health

07/11/2024 11:33

** Shares of cancer test maker Guardant Health  GH.O  gain
16.96% to $29.58 premarket
    ** Co expects FY revenue in the range of $720 mln to $725
mln compared to $690 mln to $700 mln expected earlier
    ** Q3 revenue of $191.5 mln vs analysts' estimate of $170.63
million - data compiled by LSEG 
    ** GH received $920 per test from Centers for Medicare and
Medicaid Services for its blood-based test, Shield
     ** Brokerage BTIG views this as an initial price, as GH
expects to secure advanced diagnostic laboratory test status
from CMS in 2025, after which it could achieve CMS pricing at
list price of $1,495/test
    ** Up to last close, stock down 6.5% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))