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GENOMIC HEALTH INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Oct 30, 2019. Its latest SEC filing is a SC 13G/A from Feb 13, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Provides genomic breast cancer tests that analyze tumor samples to guide treatment decisions, as well as tests for prostate and colon cancers.

How Did They Make Money?

Patients and third-party payors pay for Oncotype testing, and revenue comes when test reports are delivered. Pharmaceutical and biopharmaceutical companies also pay for study work, with revenue coming in as the work is performed.

FY2018 revenue

Who Were Their Customers?

Physicians order tests for cancer patients. Genomic Health sells directly through its commercial presence in the United States and some other countries, and distributors also sell tests outside the United States.

Did Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2018 and turned 17 cents into free cash flow.

Operating income, FY2018
6% of revenue
▲ Now profitable vs FY2017 (−$6.5M, −2%)
Net income, FY2018
7% of revenue
▲ Now profitable vs FY2017 (−$3.9M, −1%)
Free cash flow, FY2018
17% of revenue
▲ +284% vs FY2017 ($17.3M, 5%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▲ +13%
vs $101.3M in Q3 FY2018
Net income
▲ +53%
vs $12.2M in Q3 FY2018
  • Nov 8, 2019 Exact Sciences completed its merger with Genomic Health Genomic Health's common stock ceased trading on Nasdaq after the merger closed.
  • Jul 30, 2019 Agreed to become an Exact Sciences subsidiary Under the merger agreement, Genomic Health would survive as a wholly owned subsidiary of Exact Sciences.
  • Jul 29, 2019 Raised full-year revenue and net income guidance The company increased its full-year outlook for revenue and net income.

Grew. Revenue grew 43% in 4 years, from $275.7M in FY2014 to $394.1M in FY2018, about 9% a year.

Liquid biopsy offering The earlier report described liquid biopsy tests as planned pipeline products; the later report describes a liquid-based test as commercially available.

Who Did They Compete With?

Competes with Agendia, BioTheranostics, Exact Sciences, GenomeDx Biosciences, Guardant Health, Hologic, Myriad Genetics, NanoString Technologies, NeoGenomics, OPKO Health, Qiagen, Danaher, Bio-Techne, Grail, MDxHealth, Metamark Genetics, Natera, Personal Genome Diagnostics, Laboratory Corporation of America Holdings, and Quest Diagnostics

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