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PALO ALTO, Calif. - Guardant Health, Inc. (NASDAQ:GH), a precision oncology company whose stock has surged 178% over the past year and currently trades near its 52-week high, has introduced a new molecular profiling test named Guardant360® Tissue. According to InvestingPro data, the company has shown impressive revenue growth of 31% in the last twelve months. This test is the first of its kind to offer a comprehensive multiomic analysis, which includes DNA, RNA, AI-powered PD-L1, and exome-wide methylation data, aimed at providing a more detailed view of cancer for researchers and care teams.
The Guardant360 Tissue is powered by the company’s smart liquid biopsy platform and is designed to deliver insights that go beyond the scope of traditional tests that do not include an extensive analysis of epigenetics. These insights have the potential to influence the use of certain therapeutics, including PARP inhibitors, immunotherapies, and new therapies in late-stage development.
One of the significant advantages of the Guardant360 Tissue test is its efficiency in tissue utilization. It requires 92% less tissue surface area for analysis compared to the industry standard. This innovation is particularly impactful considering that over half of tumor tissue samples from patients typically fail to meet the surface area requirement for testing, which can exclude them from receiving comprehensive analysis. The new test allows for the analysis of tissue samples with 40% fewer tissue slides, enabling the testing of more patients with less tissue.
Guardant360 Tissue’s capabilities include analyzing 742 DNA genes and fusions in 367 RNA genes, and it offers exome-wide analysis of tumor methylation. Results from the test are available within two weeks, and it is covered by Medicare for eligible patients.
Helmy Eltoukhy, Guardant Health chairman and co-CEO, stated that Guardant360 Tissue sets a new standard in tissue molecular profiling, offering unparalleled insights into individual tumors. He also emphasized the potential for improved clinical actionability and patient outcomes through the integration with the Guardant360 liquid biopsy ecosystem.
Guardant Health, founded in 2012, is known for its advanced blood and tissue tests, real-world data, and AI analytics that contribute to cancer care across various stages, from early detection to treatment selection for advanced cancer. With a market capitalization of approximately $6 billion and a strong liquidity position (current ratio of 4.68), the company continues to invest in growth despite current unprofitability. InvestingPro subscribers can access 8 additional key insights about Guardant Health’s financial health and growth prospects, along with a comprehensive Pro Research Report available for over 1,400 US stocks.
The information in this article is based on a press release statement from Guardant Health, Inc. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading above its intrinsic value, suggesting investors might want to monitor valuation metrics closely. For deeper insights into Guardant Health’s financials and growth prospects, including detailed analyst forecasts and comprehensive financial health scores, consider accessing the full Pro Research Report.
In other recent news, Guardant Health has announced a strategic collaboration with Pfizer to integrate its liquid biopsy tests into Pfizer’s global oncology clinical studies. This partnership aims to explore the clinical utility of circulating tumor DNA levels as a surrogate endpoint for monitoring therapy response. In a separate development, Mizuho Securities initiated coverage on Guardant Health with an Outperform rating and set a price target of $55, citing the company’s growth potential in the precision oncology market. The analysts highlighted Guardant Health’s access to a $20 billion total addressable market and its innovative Smart Liquid Biopsy platform.
Additionally, Guardant Health has secured a lease extension for its facilities in Redwood City, California, through 2031, ensuring operational stability. This extension, valued at approximately $50 million, is not expected to materially affect the company’s annual lease expenses. In Canada, Guardant Health has partnered with Bayshore HealthCare to offer its cancer diagnostic tests, including Guardant360® and Shield™, to over 350,000 patients annually outside of Quebec. Moreover, the U.S. Department of Veterans Affairs has expanded coverage to include Guardant Health’s Shield blood test for colorectal cancer screening for eligible veterans. This marks the first time such coverage has been extended to non-Medicare beneficiaries aged 45-64, offering the test as an in-network benefit with no copay.
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