Molika Ashford covers personalized medicine and molecular diagnostics for GenomeWeb.
The company reported 1 percent growth in revenues compared to Q2 2022 but said organic revenue growth was 4 percent.
In a statement, Guardant Health cited the need to balance innovation with "financial discipline and focused execution" in the current economic environment.
The data, from a large prospective cohort, support the value of chemotherapy for ctDNA-positive patients, regardless of clinical stage.
The company believes the new results, from an initial prospective multisite trial, reflect what it can achieve in the larger cohort that it is now planning to recruit.
The company said it hasn't changed its plans to submit its Shield test to the FDA, but the lower-than-expected performance data led to a significant drop in Guardant's share price.
The company has faced some early hurdles in joining competitors in the colorectal cancer space but believes it can claim first mover status in early breast cancer.
Investigators presented data from a meta-analysis that suggests the firm's POLAR gene expression test can identify patients unlikely to benefit from radiation.
Researchers are advancing a multiomic method they hope can improve care for patients who have inherited a dramatic risk of developing cancer.
The company has published evidence that its TF estimation technique could potentially guide clinical follow-up decisions in cases with a negative liquid biopsy result.
The company is aiming to launch clinical testing services by the second half of next year, using a high-sensitivity, patient-personalized assay technology.