GenMark Diagnostics Provides Preliminary Financials for First Quarter and Increases Guidance for 2020
On April 7, GenMark Diagnostics, Inc. (GNMK) provided preliminary financial results for the quarter ending March 31, 2020. During the first quarter, GenMark received FDA emergency use authorization for its ePlex SARS-CoV-2 Test. Total revenue estimates for the first quarter are $38.7 million, which is an 80% increase over the first quarter of 2019. GenMark expects revenue of between $112 million and $122 million for the full year 2020. This represents a growth of between 27% and 39% over the previous year.
Sonal sent an alert to subscribers at 4:03 pm. The last trade took place at 4:00 pm for $4.50. GenMark spiked higher at the regular market open the next morning. The stock price continued to rise throughout the day before closing at $6.04 with a gain of 34%.
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