Total 2021 revenue envisioned to improve by up to 30%
, reaching a selection of $130 to $145 million
Core molecular tests
quantity expected to develop by up to 16%
SAN DIEGO, Jan. 13, 2021 (Globe NEWSWIRE) — Progenity, Inc. (Nasdaq: PROG), a biotechnology firm with an recognized monitor history of accomplishment in acquiring and commercializing molecular screening solutions, today furnished 2021 complete-12 months money advice.
“The calendar year 2020 proved to be a transitional period for Progenity, primarily in mild of the adverse effects to earnings and volume because of to transient earnings cycle improvements in the second 50 percent of the calendar year. We hope that we will return to powerful, sustained earnings and quantity growth in 2021 led by growth of our core products strains and more testing capacity for SARS CoV-2 exam providers. We also keep on being on keep track of to comprehensive the clinical validation of our preeclampsia rule out test, Preecludia™, by mid-yr and to prepare for start in the 2nd half of the yr. We’ve also manufactured considerable development with our probably transformative Innatal 4 technologies and ongoing improvements 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 fully commited to actively handling our SG&A expenses and will sustain disciplined R&D commit all over the yr.”
Fiscal Steerage for 2021
|Main molecular screening revenue:||$115 to $125 million3|
|SARS CoV-2 profits:||$15 to $20 million|
|Complete revenue:|| $130 to $145 million
(believed annual advancement of up to 30%1)
|SG&A cost:||$150 to $160 million|
|R&D expense:||$50 to $55 million|
|Core molecular testing quantity2:||290,000 to 310,000|
|SARS CoV-2 volume:||275,000 to 300,000|
1 Advancement of yearly 2021 revenue steerage above approximated 2020 revenues ex-accruals (a reconciliation of 2020 revenue ex-accruals to its equivalent GAAP determine (revenue) is not readily available due to the unpredictability of accruals, if any. In addition, the magnitude of any these accruals may possibly be substantial, as discussed in our periodic reviews earlier submitted with the SEC.)
2 Volume for Innatal, Preparent, Riscover assessments
3 Incorporates revenues from Avero affiliate
Progenity, Inc. is a biotechnology enterprise with an established monitor record of achievement in creating and commercializing molecular testing items, as very well as innovating in the subject of precision medication. Progenity gives in vitro molecular tests developed to strengthen life by giving actionable data that will help information individuals and doctors in producing professional medical conclusions through essential existence phases. The business applies a multi-omics tactic, combining genomics, epigenomics, proteomics, and metabolomics to its molecular tests products and solutions and to the growth of a suite of investigational ingestible products made to present exact diagnostic sampling and drug shipping and delivery methods. Progenity’s eyesight is to transform healthcare to grow to be a lot more exact and private by enhancing diagnoses of ailment and improving upon patient results by localized procedure with targeted therapies. For far more data on how Progenity is aiding clinicians and patients prepare for existence, remember to visit www.progenity.com.
Secure Harbor Statement or Forward-Searching Statements
This push launch includes “forward-wanting statements” inside of the meaning of the “safe harbor” provisions of the Personal Securities Litigation Reform Act of 1995, which statements are issue to sizeable dangers and uncertainties and are primarily based on estimates and assumptions. All statements, other than statements of historic specifics integrated in this push release, which include statements concerning the impression of the COVID-19 pandemic on our company, functions, financial final results, and long run effectiveness, and the progress of our research and growth efforts are ahead-searching statements. In some instances, you can identify forward-on the lookout statements by terms such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the negative of these phrases, and very similar expressions supposed to establish ahead-seeking statements. These statements mirror our designs, estimates, and expectations, as of the day of this press release, including income, price and quantity guidance for the fiscal year 2021. These statements include regarded and unfamiliar dangers, uncertainties and other components that could induce our genuine outcomes to differ materially from the ahead-looking statements expressed or implied in this push launch. These kinds of threats, uncertainties, and other things include things like, amid some others, the ongoing COVID-19 pandemic, our capability to create and commercialize our tests products and solutions as very well as innovate in the area of precision medication, our skill to obtain and sustain regulatory approval or clearance of our products on anticipated timelines or at all, our designs to investigation, establish, and commercialize new merchandise, the unpredictable connection in between preclinical examine benefits and clinical analyze success, disputes with third celebration payors with respect to reimbursement and recoupment, our anticipations relating to long term income, costs and check volumes, our expectations about our in network place, predicted capability for our assessments, and individuals challenges explained in “Risk Factors” and “Management’s Discussion and Analysis of Fiscal Issue and Effects of Operations” in Progenity’s Quarterly Report on Sort 10-Q for the quarter finished September 30, 2020 submitted with the SEC and other subsequent documents we file with the SEC.
We expressly disclaim any obligation to update any ahead-wanting statements no matter whether as a result of new data, long term functions or if not, apart from as expected by regulation.
Investor Speak to:
Running Director, Westwicke ICR