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Mid Cap Companies with Strong Market cap: $GH $IMMU $WYNN

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Guardant Health Receives Emergency Authorization From FDA For Guardant

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Guardant Health Inc (NASDAQ:GH) has one of the highest market capitalizations in the mid-cap category of $9.46 billion. The company has announced that it has received emergency use authorization from the FDA for its COVID-19 test. The FDA approved the Guardant-19 test in the detection of SARS-CoV-2. The test enables the nasal swab test to be returned the following day.

The test is a reverse transcriptase-polymerase chain reaction next-gen sequencing which can detect SARS-CoV-2 nucleic acid in nasal specimens. The test has validated limit detection of around 125 copies per mL with results given within a day. The largely multiplexed testing workflow employed can scale to more than 10,000 tests in a day.

Immunomedics, Announce FDA Approval OF Trodelvy(TM) Production By Samsung Biologics

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Immunomedics, Inc. (NASDAQ:IMMU) market cap is also among the largest in the mid-cap category and it is around $9.46 billion. The company has announced that the FDA has granted Samsung Biologics a Prior Approval Supplement for the production of commercial-scale hRS7 antibody used in Trodelvy at the Incheon South Korea facility. Trodelvy is the first FDA-approved ADC for the treatment of metastatic triple-negative breast cancer patients. It has a hRS7 antibody which binds to the Trop-2 cells service protein that is expressed in most solid cancers.

John Stubenrauch the SVP of Global Product Supply stated that this is a huge milestone that enhances the ability of the company to supply the product to the US.

Wynn Resorts, Limited Misses Q2 2020 Analyst Earnings And Revenue Estimates

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Wynn Resorts, Limited (NASDAQ:WYNN) whose market cap is $9.33 billion is also among the highest market caps in the mid-cap category. In the second quarter, the Casino operator lost almost 95% of its revenue with the company reporting revenue of $85.7 million down from $1.66 billion in Q2 2019. The results missed analysts' estimates of revenue of $275.2 million.

The company lost $637.6 million or $5.97 per share which is a drop from net income of $0.88 per share a year ago. The adjusted loss was $4.94 per share while analysts anticipated loss per share of $4.91. at the end of the quarter, the company had cash of $3.8 billion and total debt of $12.78 billion.

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