On May 9, 2024, Natera Inc. (NASDAQ: NTRA), a pioneer in cell-free DNA and genetic testing, showcased a remarkable surge in after-hours trading, with its stock price reaching $109.00—an increase of 14.08%. This significant rise in stock value, on a trading volume of 219.77K, signals robust investor confidence and enthusiasm for Natera’s prospects as the market reacts to the company’s recent activities and prospects.
Recent Strategic and Financial Highlights:
Natera reported a positive cash flow of approximately $3.0 million in Q1 2024.
The company saw total revenues of $367.7 million in Q1 2024, marking a 52.1% increase from $241.8 million in Q1 2023. Product revenues rose by 53.4% year-over-year.
Gross margins expanded to 56.7% in Q1 2024 from 38.7% in the same quarter the previous year.
The company processed about 735,800 tests in Q1 2024, up 17.5% from approximately 626,200 tests in Q1 2023.
Oncology tests performed increased by 61.7%, from 71,000 in Q1 2023 to 114,800 in Q1 2024.
Natera launched a new fetal RhD NIPT test, showing excellent results in its clinical validation study.
Notable updates included new guidelines from a prominent nephrology society endorsing genetic testing for patients with chronic kidney disease.
Publications included the largest prospective donor-derived cfDNA study in kidney transplantation and an analysis from the IMvigor011 trial in bladder cancer, suggesting potential treatment avoidance for patients with undetectable circulating tumor DNA.
Additional significant data was released on breast and uterine cancer studies.
2024 Financial Outlook:
Natera projects total revenues for 2024 to be between $1.42 billion and $1.45 billion.
Gross margins are expected to range from 53% to 55%.
Selling, general, and administrative costs are forecasted to be between $700 million and $750 million.
Research and development expenses are estimated between $350 million and $375 million.
