Overall 2021 revenue envisioned to develop by up to 30%
1
, achieving a vary of $130 to $145 million
Core molecular testing
2
quantity envisioned to expand by up to 16%
SAN DIEGO, Jan. 13, 2021 (Globe NEWSWIRE) — Progenity, Inc. (Nasdaq: PROG), a biotechnology corporation with an proven observe document of achievements in acquiring and commercializing molecular testing products, these days offered 2021 whole-year economic steerage.
“The calendar year 2020 proved to be a transitional period for Progenity, especially in light-weight of the adverse impact to income and volume due to transient profits cycle modifications in the 2nd half of the calendar year. We assume that we will return to sturdy, sustained revenue and quantity development in 2021 led by enlargement of our main merchandise lines and more testing potential for SARS CoV-2 exam expert services. We also continue being on track to entire the medical validation of our preeclampsia rule out examination, Preecludia™, by mid-calendar year and to put together for start in the second half of the 12 months. We’ve also designed significant progress with our probably transformative Innatal 4 engineering and ongoing advancements and partnerships negotiations relating to our GI portfolio,” explained Harry Stylli, Ph.D., CEO, chairman of the board, and co-founder of Progenity. “In addition, we are fully commited to actively taking care of our SG&A charges and will preserve disciplined R&D devote all through the calendar year.”
Financial Assistance for 2021
| Main molecular screening earnings: | $115 to $125 million3 |
| SARS CoV-2 income: | $15 to $20 million |
| Full profits: | $130 to $145 million (estimated yearly advancement of up to 30%1) |
| SG&A expense: | $150 to $160 million |
| R&D expenditure: | $50 to $55 million |
| Main molecular screening volume2: | 290,000 to 310,000 |
| SARS CoV-2 volume: | 275,000 to 300,000 |
1 Advancement of once-a-year 2021 earnings steering in excess of estimated 2020 revenues ex-accruals (a reconciliation of 2020 revenue ex-accruals to its similar GAAP figure (earnings) is not offered owing to the unpredictability of accruals, if any. In addition, the magnitude of any these accruals might be significant, as discussed in our periodic stories formerly submitted with the SEC.)
2 Volume for Innatal, Preparent, Riscover checks
3 Incorporates revenues from Avero affiliate
About Progenity
Progenity, Inc. is a biotechnology corporation with an proven keep track of file of achievement in building and commercializing molecular screening products and solutions, as nicely as innovating in the industry of precision drugs. Progenity supplies in vitro molecular checks developed to strengthen lives by providing actionable information that helps guidebook individuals and doctors in building professional medical decisions throughout important daily life stages. The business applies a multi-omics strategy, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing solutions and to the progress of a suite of investigational ingestible products built to provide precise diagnostic sampling and drug shipping and delivery solutions. Progenity’s vision is to change health care to develop into extra precise and individual by improving upon diagnoses of ailment and improving individual results via localized treatment with qualified therapies. For much more details on how Progenity is aiding clinicians and patients put together for lifestyle, you should take a look at www.progenity.com.
Safe and sound Harbor Statement or Forward-Seeking Statements
This push launch has “forward-wanting statements” inside the indicating of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which statements are matter to substantial challenges and uncertainties and are primarily based on estimates and assumptions. All statements, other than statements of historical information involved in this push release, which include statements relating to the affect of the COVID-19 pandemic on our business enterprise, operations, money benefits, and foreseeable future effectiveness, and the progress of our analysis and enhancement efforts are forward-on the lookout statements. In some instances, you can recognize forward-looking statements by phrases these as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the damaging of these conditions, and equivalent expressions supposed to discover ahead-hunting statements. These statements mirror our programs, estimates, and anticipations, as of the date of this press release, including profits, price and quantity guidance for the fiscal 12 months 2021. These statements involve regarded and unfamiliar dangers, uncertainties and other aspects that could lead to our real success to vary materially from the forward-looking statements expressed or implied in this press launch. These kinds of risks, uncertainties, and other factors consist of, among other people, the ongoing COVID-19 pandemic, our means to build and commercialize our screening items as effectively as innovate in the discipline of precision medication, our skill to attain and preserve regulatory acceptance or clearance of our products on expected timelines or at all, our designs to study, build, and commercialize new products, the unpredictable marriage among preclinical examine benefits and scientific examine outcomes, disputes with third get together payors with regard to reimbursement and recoupment, our expectations with regards to upcoming revenue, fees and examination volumes, our anticipations concerning our in network posture, predicted capacity for our assessments, and these hazards described in “Risk Factors” and “Management’s Dialogue and Investigation of Fiscal Condition 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 files we file with the SEC.
We expressly disclaim any obligation to update any forward-seeking statements regardless of whether as a consequence of new facts, potential gatherings or usually, besides as essential by law.
Trader Contact:
Robert Uhl
Controlling Director, Westwicke ICR
ir@progenity.com
(619) 228-5886
Media Get in touch with:
Kate Blom-Lowery
CG Lifestyle
media@progenity.com
(858) 457-2436