Fulgent Therapeutics

What Fulgent Therapeutics does

Fulgent Genetics, Inc. (NASDAQ: FLGT) is a California-based, publicly traded precision medicine company operating two business segments: a laboratory services business built on next-generation sequencing (NGS) and a therapeutic development business focused on oncology drug candidates. The laboratory services segment offers more than 18,000 genetic tests spanning rare disease, oncology, reproductive health, and pharmacogenetics, and was expanded in March 2026 through the acquisitions of Bako Diagnostics (anatomic pathology) and StrataDx (dermatopathology) for approximately $56.9 million. Fulgent is also investing in AI-enabled laboratory workflows and digital pathology to improve efficiency and quality across its expanded test menu.

The therapeutic development segment is anchored by FID-007, an investigational oncology candidate for recurrent or metastatic head and neck squamous cell carcinoma, which in Phase 2 trials combined with cetuximab delivered a 60-61.9% objective response rate, median progression-free survival of approximately 6.7-7.2 months, and a 63.4% one-year overall survival rate, materially above historical standard-of-care benchmarks; the company plans to advance FID-007 into a Phase 3 study. A second candidate, FID-022, is in Phase 1. Fulgent reported full-year 2025 revenue of $322.7 million (up 14% YoY), Q1 2026 revenue of $71.1 million (down 3.2% YoY), and FY2026 revenue guidance of approximately $350 million, while holding roughly $604.7 million in cash and investments at the end of Q1 2026.

Name

Fulgent Therapeutics

Legal name

Fulgent Genetics, Inc.

Website

https://fulgentgenetics.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Fulgent Genetics (NASDAQ: FLGT) is a publicly traded precision medicine company offering more than 18,000 NGS-based genetic and pathology tests to healthcare providers and patients, while also developing oncology therapeutics led by Phase 2/3 candidate FID-007 for head and neck cancer.

Ownership category

akta.pro rank

Product category

Clinical Genetic Testing Services

NAICS

Medical Laboratories (621511)

SIC

Services-Medical Laboratories (8071)

akta.pro primary industry

Molecular Diagnostics & Genomics Laboratories (HLAFAMAE)

akta.pro secondary industries

Genetic & Prenatal Testing Laboratories (HLAFAMAH), Genetic & Genomic Testing (germline, somatic, carrier, pharmacogenomics) (HLAAALAD), Oncology Specialty Pharmaceuticals (HLAIACAA)

Keywords

• Genetic testing services
• Next-generation sequencing
• Pharmacogenetic diagnostics
• Cancer therapeutics
• Digital pathology

Headquarters

HQ city

Temple City

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Laboratory Testing Services: Core revenue stream from genetic testing services provided to healthcare providers, hospitals, and patients. Revenue of $71.1M in Q1 2026, $322.7M full-year 2025, $83.3M in Q4 2025. Major customer concentration risk (22% previously) being addressed through diversification and acquisitions.
2. Therapeutic Development: Drug development pipeline including FID-007 (Phase 2/3 for head and neck squamous cell carcinoma) and FID-022 (Phase 1). Not yet revenue-generating but represents future growth opportunity as compounds advance through clinical trials.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Fulgent Therapeutics operates a clinical laboratory services business offering more than 18,000 tailored genetic tests spanning rare disease, oncology, reproductive health, and pharmacogenetics, and a therapeutic development business developing investigational cancer drug candidates including FID-007 (Phase 2/3 in head and neck squamous cell carcinoma) and FID-022 (Phase 1). The company provides actionable genetic insights to healthcare providers, hospitals, and patients using next-generation sequencing and AI-enabled laboratory technologies.

Product overview

Fulgent Genetics is a technology-based company operating two distinct business segments: a laboratory services business offering a comprehensive genetic testing menu of more than 18,000 tests, and a therapeutic development business focused on developing drug candidates for treating cancers. The company has expanded its laboratory services through the acquisitions of Bako Diagnostics (premier pathology laboratory) and StrataDx (premier dermatopathology laboratory) in March 2026, and through an expanded partnership with Foundation Medicine to offer FoundationOne PGx pharmacogenetic testing. In therapeutics, the company's most advanced candidate is FID-007 (an investigational drug for recurrent or metastatic head and neck squamous cell carcinoma), currently completing Phase 2 with plans for Phase 3, alongside FID-022 which is progressing through Phase 1 clinical trials. The company is investing in AI-enabled lab services and digital pathology technology to improve efficiency and quality across its expanded laboratory network.

Differentiator

Problem solved

Functional benefit

Products and services

• Genetic Testing Services

Quantifiable outcome

• 60% ORR vs 5.8-19.1% standard-of-care ORR in HNSCC
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Foundation Medicine (Roche)coreStrategic or Co-development Partner · 4 May 2026Foundation Medicine (a Roche company) partnered with Fulgent Genetics to launch FoundationOne PGx, a pharmacogenetic diagnostic test analyzing genetic makeup to help predict how patients metabolize and process drugs. The test includes a panel of nine genes associated with drug metabolism including DPYD, CYP2C19, and TPMT, designed to reduce adverse drug responses and improve treatment effectiveness for cancer therapy selection and dosing. The offering is distributed in the United States through Foundation's portal.

Scale indicators12 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Natera: Genetic testing company with deep franchises in reproductive health, oncology (Signatera), and organ transplant. Comparable to Fulgent on technology (NGS-based), customer base (hospitals and physicians), and breadth of genetic test menu.
• Foundation Medicine (Roche): Roche-owned molecular diagnostics company specializing in comprehensive genomic profiling of tumors (FoundationOne CDx, FoundationOne Heme). Both a direct competitor in oncology NGS testing and a commercial partner through the FoundationOne PGx launch with Fulgent.
• Guardant Health: Precision oncology company specializing in liquid biopsy and blood-based NGS testing for cancer therapy selection and monitoring. Overlaps with Fulgent's oncology NGS offering and shares the same hospital/oncology customer segment and B2B distribution model.
• Myriad Genetics: Established genetic testing company focused on hereditary cancer, pharmacogenomics, and prenatal screening. Direct competitor to Fulgent in clinical genetic testing, with overlapping oncology and women's health test menus sold to similar healthcare providers.
• Veracyte: Genomic diagnostics company commercializing molecular tests for thyroid, prostate, breast, and lung cancers. Comparable to Fulgent in offering NGS-based specialty oncology diagnostics to physicians and hospitals with similar reimbursement dynamics.
• Exact Sciences: Molecular diagnostics leader with Cologuard (colorectal cancer screening) and Oncotype DX (oncology). Comparable to Fulgent as a publicly-traded molecular diagnostics company selling cancer-related genetic tests through healthcare-provider channels.
• Invitae: Medical genetics company offering a broad menu of genetic tests across rare disease, reproductive health, and oncology. Direct competitor to Fulgent in clinical genetic testing services to healthcare providers with similar test menu breadth.
• NeoGenomics: Specialty oncology-focused clinical laboratory providing genetic and molecular testing services to hospitals, oncologists, and pathologists. Highly comparable to Fulgent's NGS-driven oncology and pathology testing business, with similar B2B healthcare-provider GTM motion.

Broad incumbents

• Laboratory Corporation of America (Labcorp): Major clinical laboratory network offering a comprehensive menu of routine, specialty, and genetic testing. Comparable to Fulgent as a large-scale laboratory services provider to hospitals and physicians, though Labcorp operates across a much broader testing portfolio including non-genetic services.
• Quest Diagnostics: One of the largest clinical laboratory networks in the U.S., offering routine and esoteric testing including genetic and molecular diagnostics. Comparable as a broad incumbent in clinical lab services with overlapping hospital and physician customers, though Fulgent is far more specialized in NGS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/FulgentInfo
• Facebookfacebook.com/Fulgent-Diagnostics-451403604956473
• LinkedInlinkedin.com/company/fulgent-diagnostics

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fulgent Therapeutics