Fulgent Genetics

Company Overview

Fulgent Genetics Inc., founded in 2011, provides genetic testing services to physicians with clinically actionable diagnostic information. Fulgent’s technology platforms combine data comparison and suppression algorithms, adaptive learning software, NGS goals and integrated laboratory processes.

Fulgent’s full-gene sequencing with deletion/duplication analysis is used in single-gene tests; pre-established; multi-gene; disease-specific panels; and customized panels depending on the customer needs.

Fulgent’s test menu includes single-gene tests and panels that test for genetic conditions, including various cancers, cardiovascular diseases, neurological disorders and pediatric conditions.

Fulgent owns a consumer-oriented testing company, Picture Genetics.

Picture Genetics, formed in 2019 as a subsidiary of Fulgent Genetics Inc., provides at-home genetic testing services using Fulgent Genetics NGS platforms.

Picture Genetics DTC products are focused on health, not recreational, applications. Products offered include: Picture Parenting (tests for genetic conditions that may be passed onto offspring), Picture Wellness (genetic risks for cancer and cardiovascular conditions), Picture Newborn (test for babies that covers 200+ rare conditions) and COVID-19 testing.

Picture Genetics uses NGS analysis of a customer’s DNA to provide medically actionable, clinical-level results with professional medical follow-up at part of its process.

In September 2019, Fulgent Genetics partnered with PWNHealth to provide oversight to its line of DTC tests. PWNHealth agreed to provide physician review and genetic counseling for these tests.

In February 2021, Fulgent Genetics formed a strategic alliance with BioIQ; BioIQ agreed to offer Fulgent’s NGS-based coronavirus assay on its diagnostic testing platform. Fulgent’s assay detects SARS-CoV-2 variants, which are becoming more important in the second year of the pandemic. This partnership reflects the importance of NGS for detecting and characterizing new variants in the fight against this virus. BioIQ, a diagnostic testing software company, agreed to offer the assay on its software platform to its employer, government and health plan customers to assist in testing regimens, clinical treatment procedures and vaccination strategies.

Financial Highlights (FY 2024)

Company's Business Segments

• Laboratory services : This segment includes clinical diagnostic business, technical laboratory services, and professional interpretation of laboratory results by licensed physicians.