TEMPLE CITY, Calif.--(BUSINESS WIRE)--Fulgent Genetics, Inc. (NASDAQ: FLGT) (Fulgent Genetics, Fulgent, or the Company), a technology-based genetic testing company focused on transforming patient care in oncology, infectious and rare diseases, and reproductive health, today announced it has launched a test for monkeypox that leverages the U.S. Centers for Disease Control and Preventions (CDC) orthopoxvirus test, which detects non-smallpox related orthopoxviruses, including monkeypox. Fulgent will begin accepting specimens for testing next week from healthcare providers, clinics and state laboratories.

We are pleased to be able to offer PCR-based testing for monkeypox to help increase testing capacity for the virus, making it more convenient and accessible for patients and health care providers in the United States, said Brandon Perthuis, Chief Commercial Officer of Fulgent Genetics. While treatment and care for monkeypox is well established and understood, it is crucial that the public has access to proper testing resources to limit transmission and help manage the current outbreak of the virus in the U.S. While demand for the test will be hard to predict, the efficiency of our technology platform and lab operations has enabled us to rapidly develop the test with minimal investment. We expect to be able to scale testing capacity for monkeypox rapidly and efficiently, as we did with testing for COVID-19 in early 2020.

For more information about monkeypox testing options from Fulgent Genetics, please visit http://www.fulgentgenetics.com/monkeypox or email the Fulgent team directly at monkeypox@fulgentgenetics.com.

Providers should refer to the most current CDC guidelines for further information on appropriate testing of patients, available here https://www.cdc.gov/poxvirus/monkeypox/index.html.

About Fulgent Genetics

Fulgent Genetics is a technology-based genetic testing company focused on transforming patient care in oncology, infectious and rare diseases, and reproductive health. Fulgent Genetics proprietary technology platform has created a broad, flexible test menu and the ability to continually expand and improve its proprietary genetic reference library while maintaining accessible pricing, high accuracy, and competitive turnaround times. Combining next generation sequencing with its technology platform, the company performs full-gene sequencing with deletion/duplication analysis in an array of panels that can be tailored to meet specific customer needs. A cornerstone of the companys business is its ability to provide expansive options and flexibility for all clients unique testing needs through a comprehensive technology offering including cloud computing, pipeline services, record management, web portal services, clinical workflow, sequencing as a service and automated laboratory services.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements in this press release include statements about, among other things judgments and evaluations about: the Companys ability to grow and expand its business, demand for its tests and testing services and its ability to scale its orthopoxvirus testing services. Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the Companys future performance, and they are based on managements current assumptions, expectations, and beliefs concerning future developments and their potential effect on the Companys business. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. These risks and uncertainties include, among others: the ongoing impacts of the COVID-19 pandemic, including the preventive public health measures that may continue to impact demand for its tests and the pandemics effects on the global supply chain; the market potential for, and the rate and degree of market adoption of, the Companys tests, including its COVID-19 and genetic testing generally; the Companys ability to capture a sizable share of the developing market for genetic and COVID-19 testing and to compete successfully in these markets, including its ability to continue to develop new tests that are attractive to its various customer markets, its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the Companys ability to maintain the low internal costs of its business model, particularly as the Company makes investments across its business; the Companys ability to maintain an acceptable margin on sales of its tests, particularly in light of increasing competitive pressures and other factors that may continue to reduce the Companys sale prices for and margins on its tests; risks related to volatility in the Companys results, which can fluctuate significantly from period to period; risks associated with the composition of the Companys customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the Companys revenue; the Companys ability to grow and diversify its customer base and increase demand from existing and new customers; the Companys investments in its infrastructure, including its sales organization and operational capabilities, and the extent to which these investments impact the Companys business and performance and enable it to manage any growth it may experience in future periods; the Companys level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests; the Companys level of success in establishing and obtaining the intended benefits from partnerships, strategic investments, joint ventures, acquisitions, or other relationships; the Companys compliance with the various evolving and complex laws and regulations applicable to its business and its industry; risks associated with the Companys international operations; the Companys ability to protect its proprietary technology platform; and general industry, economic, political and market conditions. As a result of these risks and uncertainties, forward-looking statements should not be relied on or viewed as predictions of future events.

The forward-looking statements made in this press release speak only as of the date of this press release, and the Company assumes no obligation to update publicly any such forward-looking statements to reflect actual results or to changes in expectations, except as otherwise required by law.

The Companys reports filed with the U.S. Securities and Exchange Commission, or the SEC, including its annual report on Form 10-K for the year ended December 31, 2021 filed with the SEC on February 28, 2022 and the other reports it files from time to time, including subsequently filed annual, quarterly and current reports, are made available on the Companys website upon their filing with the SEC. These reports contain more information about the Company, its business and the risks affecting its business, as well as its results of operations for the periods covered by the financial results included in this press release.

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Fulgent Genetics Announces Launch of PCR Based Test to Detect Monkeypox - Business Wire

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