There’s nothing like the announcement of a monstrous rise in earnings and/or revenue to drive up the price of a stock. This is what happened to cancer-focused biotechnology Health Guardian (GH 13.05%) Thursday, when the publication of its third quarter results presented figures well above expectations. The company was rewarded with a more than 13% rise in its stock price in a grateful market, easily crushing the barometer’s 0.7% gain. S&P500 hint.

Double-digit increases in the third quarter

Guardant released its very encouraging third quarter numbers just after the market closed on Wednesday, and investors were eager to jump on the stock the next day. Revenue was $191.5 million for the period, improving the third quarter 2023 result by 34%. This was driven by a 21% increase in the number of clinical trials and a jump of 40% of biopharmaceutical tests, to reach respective totals of 53,100 and 10,500.

THE biotechnology The company’s non-GAAP (adjusted) net loss narrowed significantly to just over $55 million ($0.45 per share) versus the deficit of over $79 million. dollars from the previous year’s quarter.

The two main results turned out to be much better than analysts expected. On average, they forecast just $170 million in revenue change, along with a wider adjusted net loss of $0.74 per share.

This is an up quarter for Guardant, as its lagging fundamentals were accompanied by an increase in revenue guidance. Management now expects revenue to be between $720 million and $725 million for the full year 2024, up from its previous forecast of $690 million to $700 million. The company did not provide any earnings projections.

Go in an encouraging direction

Guardant’s remarkable performance is mainly due to good and long-standing volume increases, as indicated by the diagnostic product growth figures. These are clearly resonating with the market, so the company’s optimism – reflected in this increase in revenue forecasts – appears entirely justified.