Investment Thesis. Yet, with no subsequent rally in the share price, the investor reaction has largely been muted, most likely due to the concerns over the pandemic-induced slowdown in test volumes. The burst in test volume growth seen in 2019 has come to a grinding halt. In August, the FDA greenlighted its liquid biopsy test, Guardant360 CDx, for tumor mutation profiling of solid tumors and as a companion diagnostic to identify non-small cell lung cancer (NSCLC) patients suitable for Tagrisso® (osimertinib). Backed by better payer coverage for its late-stage cancer detection test, Guardant Health, Inc. has seen its top-line rising more than a two-fold from the previous year. Pinterest. 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