Overall 2021 revenue predicted to increase by up to 30%1, reaching a assortment of $130 to $145 million
Main molecular testing2 quantity envisioned to expand by up to 16%
SAN DIEGO, Jan. 13, 2021 (Globe NEWSWIRE) — Progenity, Inc. (Nasdaq: PROG), a biotechnology enterprise with an recognized monitor record of results in producing and commercializing molecular screening products and solutions, nowadays delivered 2021 whole-year fiscal direction.
“The calendar year 2020 proved to be a transitional interval for Progenity, specifically in light-weight of the adverse effect to earnings and quantity owing to transient profits cycle modifications in the next 50 % of the 12 months. We hope that we will return to potent, sustained earnings and quantity advancement in 2021 led by growth of our core merchandise traces and more screening capacity for SARS CoV-2 test companies. We also keep on being on monitor to total the clinical validation of our preeclampsia rule out test, Preecludia™, by mid-yr and to prepare for start in the second fifty percent of the yr. We’ve also designed substantial progress with our perhaps transformative Innatal 4 technological know-how and ongoing advancements and partnerships negotiations relating to our GI portfolio,” claimed Harry Stylli, Ph.D., CEO, chairman of the board, and co-founder of Progenity. “In addition, we are dedicated to actively running our SG&A prices and will manage disciplined R&D spend all through the 12 months.”
Financial Steering for 2021
|Core molecular tests earnings:||$115 to $125 million3|
|SARS CoV-2 income:||$15 to $20 million|
|Overall revenue:||$130 to $145 million
(approximated once-a-year development of up to 30%1)
|SG&A price:||$150 to $160 million|
|R&D price:||$50 to $55 million|
|Main molecular screening quantity2:||290,000 to 310,000|
|SARS CoV-2 volume:||275,000 to 300,000|
1 Progress of annual 2021 income steering in excess of estimated 2020 revenues ex-accruals (a reconciliation of 2020 earnings ex-accruals to its equivalent GAAP figure (revenue) is not offered owing to the unpredictability of accruals, if any. In addition, the magnitude of any such accruals could be sizeable, as discussed in our periodic stories earlier filed with the SEC.)
2 Quantity for Innatal, Preparent, Riscover checks
3 Involves revenues from Avero affiliate
Progenity, Inc. is a biotechnology organization with an set up track report of results in establishing and commercializing molecular testing solutions, as very well as innovating in the subject of precision medication. Progenity delivers in vitro molecular exams developed to strengthen life by providing actionable info that assists tutorial individuals and doctors in making clinical decisions during vital existence phases. The business applies a multi-omics solution, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing items and to the enhancement of a suite of investigational ingestible devices built to offer specific diagnostic sampling and drug delivery options. Progenity’s vision is to renovate health care to grow to be far more specific and personalized by bettering diagnoses of ailment and bettering client outcomes by means of localized therapy with specific therapies. For far more facts on how Progenity is aiding clinicians and sufferers get ready for life, you should pay a visit to www.progenity.com.
Risk-free Harbor Assertion or Ahead-Searching Statements
This press launch incorporates “forward-on the lookout statements” inside the that means of the “safe harbor” provisions of the Personal Securities Litigation Reform Act of 1995, which statements are subject matter to sizeable threats and uncertainties and are based on estimates and assumptions. All statements, other than statements of historic facts integrated in this push release, which includes statements concerning the impression of the COVID-19 pandemic on our enterprise, functions, financial outcomes, and upcoming efficiency, and the progress of our analysis and growth attempts are forward-on the lookout statements. In some scenarios, you can discover forward-looking statements by phrases these types of as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the negative of these conditions, and related expressions intended to establish forward-looking statements. These statements reflect our plans, estimates, and anticipations, as of the date of this press release, which includes profits, cost and quantity steerage for the fiscal year 2021. These statements entail identified and unknown dangers, uncertainties and other elements that could bring about our true effects to vary materially from the ahead-looking statements expressed or implied in this press release. These kinds of dangers, uncertainties, and other things contain, among others, the ongoing COVID-19 pandemic, our potential to acquire and commercialize our testing items as properly as innovate in the discipline of precision medicine, our skill to attain and preserve regulatory acceptance or clearance of our solutions on predicted timelines or at all, our options to investigation, build, and commercialize new products and solutions, the unpredictable romantic relationship concerning preclinical study benefits and medical examine results, disputes with 3rd occasion payors with regard to reimbursement and recoupment, our anticipations about long run revenue, fees and check volumes, our anticipations about our in community position, expected ability for our checks, and individuals risks explained in “Risk Factors” and “Management’s Dialogue and Investigation of Financial Condition and Outcomes of Operations” in Progenity’s Quarterly Report on Variety 10-Q for the quarter finished September 30, 2020 filed with the SEC and other subsequent paperwork we file with the SEC.
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