Guardant Health(US:GH)2024-02-23 02:33Financial Performance - Q4 2023 revenue reached $155.1 million, a 22% year-over-year growth compared to $126.9 million in Q4 2022[5,45] - Full year 2023 revenue was $563.9 million, a 25% year-over-year increase from $449.5 million in 2022[5,45] - The company is initiating full year 2024 revenue guidance excluding screening at $655 million to $670 million, representing 16% - 19% year-over-year growth[79] Clinical Volume and ASP - Full year clinical volumes in 2023 reached 172,900, a 39% year-over-year growth compared to 124,800 in 2022[6] - Q4 2023 clinical volumes were 46,400, a 29% year-over-year increase from 36,000 in Q4 2022[6] - Guardant360 ASP is expected to be around $2,750 in Q1 2024, after being ~$2,700 in Q3 2023 and in the range of $2,850 - $2,900 in Q4 2023[9] Product and Market Expansion - Guardant360 covered lives surpassed 300 million, and TissueNext covered lives exceeded 200 million[1] - Launched Guardant360 in China for biopharma use, with a strong pipeline of over 30 partnerships, and lifetime global biopharma partnerships exceeding 165[11] - The company upgraded to a Smart Liquid Biopsy platform for MRD (Minimal Residual Disease) detection[4,12] Minimal Residual Disease (MRD) and Screening - Guardant Reveal demonstrated 80% surveillance sensitivity in a pooled analysis across cohorts, with data to be included in Medicare CRC surveillance submission[14] - Adherence rate for first 20,000 patients tested with Shield LDT was 94%, compared to 38% – 65% compliance for standard of care[44]