Progenity Presents Economical Steering for Comprehensive-yr 2021

Whole 2021 earnings expected to develop by up to 30{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0}
1
, achieving a variety of $130 to $145 million

Main molecular tests
2
quantity expected to improve by up to 16{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0}

SAN DIEGO, Jan. 13, 2021 (Globe NEWSWIRE) — Progenity, Inc. (Nasdaq: PROG), a biotechnology firm with an set up track report of success in building and commercializing molecular screening products and solutions, now furnished 2021 comprehensive-calendar year fiscal advice.

“The 12 months 2020 proved to be a transitional interval for Progenity, specially in light-weight of the adverse effect to income and quantity because of to transient income cycle improvements in the next 50 percent of the year. We count on that we will return to solid, sustained earnings and volume growth in 2021 led by growth of our main solution lines and further tests potential for SARS CoV-2 test products and services. We also keep on being on monitor to full the clinical validation of our preeclampsia rule out examination, Preecludia™, by mid-12 months and to get ready for start in the 2nd 50 {23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0} of the 12 months. We’ve also built important development with our potentially transformative Innatal 4 technology and ongoing improvements and partnerships negotiations relating to our GI portfolio,” stated Harry Stylli, Ph.D., CEO, chairman of the board, and co-founder of Progenity. “In addition, we are committed to actively handling our SG&A charges and will manage disciplined R&D spend all through the 12 months.”

Financial Advice for 2021










Core molecular screening revenue: $115 to $125 million3
SARS CoV-2 profits: $15 to $20 million
Complete income: $130 to $145 million
(estimated yearly advancement of up to 30{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0}1)
   
SG&ampA expenditure: $150 to $160 million
R&ampD expenditure: $50 to $55 million
   
Core molecular testing volume2: 290,000 to 310,000
SARS CoV-2 quantity: 275,000 to 300,000

1 Development of once-a-year 2021 revenue steerage more than approximated 2020 revenues ex-accruals (a reconciliation of 2020 income ex-accruals to its equivalent GAAP determine (profits) is not accessible owing to the unpredictability of accruals, if any. In addition, the magnitude of any this kind of accruals may well be substantial, as talked about in our periodic studies previously submitted with the SEC.)
2 Volume for Innatal, Preparent, Riscover tests
3 Includes revenues from Avero affiliate

About Progenity

Progenity, Inc. is a biotechnology enterprise with an set up track report of success in developing and commercializing molecular tests items, as effectively as innovating in the industry of precision medicine. Progenity gives in vitro molecular assessments designed to enhance lives by supplying actionable data that will help tutorial patients and physicians in generating clinical decisions throughout key life stages. The firm applies a multi-omics method, combining genomics, epigenomics, proteomics, and metabolomics to its molecular screening solutions and to the advancement of a suite of investigational ingestible gadgets designed to supply specific diagnostic sampling and drug shipping alternatives. Progenity’s eyesight is to transform healthcare to develop into additional exact and own by improving diagnoses of condition and increasing client results via localized procedure with specific therapies. For a lot more information and facts on how Progenity is aiding clinicians and clients put together for lifetime, make sure you go to www.progenity.com.

Secure Harbor Assertion or Ahead-On the lookout Statements

This press launch is made up of “forward-hunting statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, which statements are subject to significant risks and uncertainties and are based mostly on estimates and assumptions. All statements, other than statements of historical info provided in this press launch, together with statements concerning the impact of the COVID-19 pandemic on our small business, functions, economical final results, and foreseeable future effectiveness, and the progress of our investigation and progress endeavours are ahead-searching statements. In some conditions, you can recognize forward-seeking statements by terms this sort of as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “plan” or the damaging of these conditions, and similar expressions intended to establish ahead-looking statements. These statements reflect our plans, estimates, and expectations, as of the date of this press launch, such as earnings, expenditure and quantity steerage for the fiscal year 2021. These statements involve identified and unidentified pitfalls, uncertainties and other elements that could cause our real outcomes to vary materially from the forward-searching statements expressed or implied in this push release. This sort of dangers, uncertainties, and other aspects involve, amid others, the ongoing COVID-19 pandemic, our skill to acquire and commercialize our tests merchandise as nicely as innovate in the field of precision medication, our potential to obtain and retain regulatory acceptance or clearance of our products on predicted timelines or at all, our programs to analysis, create, and commercialize new products and solutions, the unpredictable partnership between preclinical examine effects and clinical study outcomes, disputes with 3rd occasion payors with regard to reimbursement and recoupment, our anticipations with regards to future profits, charges and take a look at volumes, our expectations concerning our in network position, anticipated potential for our exams, and those people dangers described in “Risk Factors” and “Management’s Dialogue and Assessment of Money Problem and Success of Operations” in Progenity’s Quarterly Report on Type 10-Q for the quarter ended September 30, 2020 submitted with the SEC and other subsequent documents we file with the SEC.
We expressly disclaim any obligation to update any forward-looking statements regardless of whether as a consequence of new information, long term occasions or in any other case, except as necessary by law.

Trader Call:
Robert Uhl
Controlling Director, Westwicke ICR
[email protected]
(619) 228-5886

Media Get hold of:
Kate Blom-Lowery
CG Existence
[email protected]
(858) 457-2436 

Rachel C. Carpenter

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