Record Fourth Quarter Growth
Fulgent Genetics delivered a fourth-quarter revenue growth of 14% year over year and 6% sequentially, exceeding annual core revenue guidance of $280 million.
Successful Clinical Trials
In 2024, Fulgent Genetics began a phase two clinical trial of FID-007 with encouraging preliminary results. They also submitted an IND for FID-022, cleared by the FDA, with the first patient enrollment expected in Q2 2025.
Strong Biopharma Services Growth
Biopharma services grew 56% quarter over quarter, from $3.9 million in Q3 to $6.1 million in Q4.
Significant Partnerships
Fulgent Genetics announced a partnership with Foundation Medicine to launch two tests using Fulgent's proprietary technology.
Improved Operational Efficiency
Fulgent Genetics relocated their lab to Coppell, Texas, and consolidated their New York lab, improving operational efficiency.