Guardant Health

Guardant Health is a precision oncology company offering a liquid biopsy platform and tests for cancer management. Its patented digital sequencing platform leverages high-conversion biochemistry, next-generation sequencing technology, and AI-powered bioinformatics to provide therapy selection, recurrence monitoring, early screening, and biopharma solutions. 

Key products include the Guardant360 and Guardant360 CDx tests for advanced cancer patients, Guardant Reveal for early colorectal screening, and the GuardantINFORM real-world evidence platform. Guardant360 CDx is FDA-approved for tumor profiling across solid tumors and as a non-small cell  lung cancer companion diagnostic.

In 2022, Guardant sold over 120,000 tests to clinical customers and 26,000 to biopharma (up 42% and 40% YoY respectively). The company operates in the US and has planned to accelerate the commercialization of its products in Europe, Asia, the Middle East, and Africa. 

Key partnerships and customers

The company partners with large biopharma companies such as AstraZeneca, Janssen, and Amgen to co-develop companion diagnostic tests. Further, in August 2022, the company extended its partnership with Merck KGaA to leverage its database platform GuardantINFORM to speed up Merck’s drug discovery and development processes to treat cancer. 

In December 2023, Guardant Health teamed up with Cancer Research UK and its innovation unit, Cancer Research Horizons, to mainly focus on clinical trials run by CRUK’s Centre for Drug Development, comprising the DETERMINE trial, reportedly the first national precision medicine trial in the UK targeting rare cancers.

Funding and financials

The company was founded in 2011 and went public in October 2018, trading on Nasdaq Global Select Market under the ticker symbol “GH.” In May 2023, the company announced an underwritten public offering with expected gross proceeds of USD 350 million. 

For the year 2022 , the firm reported revenue growth of 20% YoY to USD 449.5 million, while net losses for the same period increased to USD 654.6 million from USD 405.7 million. In 1H 2023, the firm reported revenue of  USD 238.6 million, representing a 29.4% YoY increase. Net losses improved considerably to USD 206.3 million, down 41.5% YoY.  In terms of guidance for 2023,Guardant Health revised revenue expectations upward to a range of USD 545 million–550 million, implying a growth rate of 21%–22%.