There is often no better boost for sales of a newer product than receiving free publicity.
Guardant Health, a specialist in cancer diagnostics, made significant waves in the biotech industry recently. The company’s shares rose by nearly 6% after news emerged of one of its products being featured on a top innovations list by a well-known magazine. This performance was remarkable, especially in comparison to the 0.3% decline in the S&P 500 index on the same day.
The magazine in question was Time, which identified Guardant’s Shield product as one of its best inventions for 2024. The annual list from Time highlights “200 innovations changing how we live.” Shield, a colorectal cancer diagnosis kit, was recognized for making the typically uncomfortable screening process as routine as a blood test. The product utilizes data analysis and artificial intelligence (AI) to generate its results.
Furthermore, the influential medical journal, The New England Journal of Medicine, noted Shield’s detection sensitivity rate at an outstanding 83%, underscoring its efficacy in combating colorectal cancer. This disease accounts for approximately 53,000 deaths annually in the U.S. and is one of the country’s leading causes of fatal illness.
In a press release announcing Shield’s recognition, AmirAli Talasaz, co-CEO and co-founder of Guardant Health, expressed honor at being included in the prestigious list of innovative products making significant differences in daily life.
While being listed as a top innovation may not immediately elevate Guardant into a leading specialty healthcare provider, it is anticipated to significantly enhance Shield’s public relations profile. Having only received Food and Drug Administration (FDA) approval in July, the product is already gaining momentum and is expected to resonate well with Guardant’s focused customer base.
