On July 30, Guardant Health Inc. rose 5.02% in regular trading, trading at $151.295/share, with turnover of $175 million. The rally was driven by Bristol-Myers Squibb's Q2 earnings report released the same day, which showed cancer drug demand broadly exceeding expectations, with quarterly revenue of $12.97 billion surpassing consensus by over $1 billion, prompting a significant raise in full-year guidance.

As the leading precision oncology diagnostics company, Guardant Health's companion diagnostic products directly benefit from rising anti-cancer drug utilization. The company was also scheduled to report its own Q2 results after market close, with consensus expecting revenue of $314 million, representing approximately 49% year-over-year growth. Market sentiment was further supported by multiple recent catalysts, including the FDA approval of Guardant360 Liquid CDx as a companion diagnostic for non-small cell lung cancer therapy, the inclusion of its Shield blood test in American Cancer Society colorectal screening guidelines, and BofA Securities raising its price target to $190 from $135.

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