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Guardant Health Reports Preliminary Q4, FY 2023 Revenue Growth, Inks Hikma Pharma Marketing Deal

NEW YORK – Guardant Health said Monday that its preliminary fourth quarter 2023 revenues rose approximately 21 percent year over year to between $153 million and $154 million.

The company reported 46,400 tests to clinical customers and 9,500 tests to biopharma customers, an increase of 29 percent and 16 percent, respectively.

For the 12-month period ended Dec. 31, Guardant estimated revenues of $562 million to $563 million, an increase of 25 percent. Over the full year, the firm reported 172,900 tests to clinical customers and 29,900 tests to biopharma customers, up 39 percent and 15 percent, respectively, over 2022.

The company also announced a new marketing agreement with multinational pharma firm Hikma Pharmaceuticals. Under the agreement, Hikma will promote Guardant's portfolio of liquid and tissue biopsy tests for cancer screening, recurrence monitoring, and tumor mutation profiling for patients with solid tumors in countries across the Middle East and North Africa.

The tests offered include Guardant's colorectal cancer screening assay Shield, its minimal residual disease test Guardant Reveal, and its Guardant360 and Guardant360 TissueNext comprehensive sequencing tests for liquid and tissue biopsies.

"We are committed to improving patient outcomes globally by offering next-generation sequencing tests across all stages of the disease," Simranjit Singh, CEO of Guardant Health AMEA, said in a statement.