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NEW YORK – Fulgent Genetics reported after the close of the market on Monday a 44 percent increase in first quarter revenues driven by a large jump in billable test numbers. The firm also withdrew its 2020 full-year revenue guidance.

For the three months ended March 31, Fulgent posted revenues of $7.8 million versus $5.4 million in the same quarter last year. The firm said it delivered 13,163 billable genetic tests during Q1, a 75 percent increase year over year.

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