Shares of Fulgent Genetics Inc. (FLGT) are skyrocketing 19.81% in pre-market trading on Friday following the company's impressive third-quarter results and increased full-year guidance. The genetic testing and therapeutics company demonstrated strong performance, beating analyst expectations and showing promising growth in key areas.

Fulgent reported Q3 revenue of $84.07 million, surpassing the analyst consensus estimate of $81.43 million and representing a 17.2% year-over-year increase. The company's adjusted earnings per share came in at $0.14, significantly beating the estimated loss of $0.22 per share. This strong financial performance was driven by robust momentum in Fulgent's laboratory services business and progress in clinical trials, particularly for its FID-007 program.

In light of these positive results, Fulgent has raised its full-year 2025 revenue guidance to $325 million from the previous $320 million, reflecting management's confidence in the company's strategic execution. CEO Ming Hsieh highlighted the progress in therapeutic development as a key contributor to the quarter's success. Additionally, the company expects to have $800 million in cash and investments by year-end, further strengthening its financial position. The market's enthusiastic response to this news underscores investor optimism about Fulgent's growth trajectory and its positioning in the genetic testing and therapeutics space.