11:00 AM EDT, 03/11/2025 (MT Newswires) -- (Updates with recent stock price movement in the headline and first paragraph.)

Guardant Health ( GH ) shares were up 12% in recent Tuesday trading after the company's Shield blood test gained an exclusive designation from a federal agency.

The company said Tuesday that the Centers for Medicare and Medicaid Services has granted Advanced Diagnostic Laboratory Test, or ADLT, status for Guardant's Shield blood test to screen for colorectal cancer.

Guardant said the ADLT designation means the Shield test meets the criteria for providing clinical information that can't be obtained by any other method. The test was approved by the US Food and Drug Administration in 2024 for average-risk individuals 45 years old and older.

The company said the test will be reimbursed at $1,495 for Medicare patients during the initial nine-month ADLT period beginning April 1.

Price: 40.15, Change: +4.31, Percent Change: +12.03