afternoon, good everyone. And Jody. you, Thank
by XX% more customers as is a per revenue excess in with increase prior This in strong assays physician XX% year, million. We're average the results reporting first sample. ordering $X.X revenues quarter increase for are a over driven patient of
gross XX positive. become we XXXX, from our by also points that progress first the of make efficiencies to gross margin percentage margin as versus quarter have improved on We benefited operating goal
impacted the QX volume of XX% estimate led the these and XX% customers. some an test even opportunities COVID-XX new more. XX% reporting gain QX year-over-year declines of results strong COVID-XX industry-wide test also during to We pandemic to XXXX in pandemic. volume an versus for is issue with volume impact commercial are with to in or labs approximate We the decline us reporting Declining
is in outlook prior the XX% the year. decline volumes for XX% remainder the for commercial continuation trip volume Our period. second a move we of to assumes to as through over gradual of by increase the This a in quarter approximately this
COVID-XX declines Similarly, operation pandemic their CEE-Sure canceled whom tubes Further, on and have patient immune some research-use-only noting of of of reluctant modest having been compromised RUO collection our in reduced percentage overall to in or kits, these that visit trial cancer Understandably, oncology reduced an have or during clinical patients, of blood hours office. physician have impact enrollment the a have our comprise postponed appointments. sales are products practices many systems and relatively revenues. hospitals surgeries a
to pandemic weather Importantly, we and are for to return the positioned growth.
target our Target that testing more and hospitals oncologists decisions our will test to patients when in treatment schedules, cancer. an to are physicians return Selector volume with determining in levels. expect and their normal resume fully critical established biopsy diagnosed leader We provides We patient liquid information gradually for
proceeds of net of of exercise the strengthened from financings the million to our pleased have December particularly our We operations our of sheet, expected provided funding appreciate several months since past through historical of to current $XX more is are planned XXXX. the beginning terms. most than and and institutional on on balance the have We having over support raised who us believe that investors usage, We favorable with warrants. confidence based cash and funding
on our revenue COVID-XX However, cash shorter. impact may with be runway the uncertainty and introduced collections, of the by
Our of foremost our wellbeing employees. for safety during the concern pandemic the and is
and during essential a testing, an we're maintained have patient operations performing the molecular pandemic. laboratory As business
same We without shifts, full work-from-home or have emerge are and providing the staggered safe of furloughs, turnaround quality designed conditions layoffs strategies, having staff for pandemic our in we excellent interruption with lab distancing delay. social Notably, professionals the time position. and maintained strong or no delivering from while through our policies Biocept instituted and to a
to can also San responding to specialized equipped approved We testing due menu by tests. FDA CLIA-certified, testing CAP-accredited, accept for and at lab have BSL-X safety or testing. SARS-COVID-X. Authorization, our the at here testing laboratory our We're Use that perform is these are trained We for who've staff now with our our molecular our pandemic COVID-XX TaqPath and licensed high-complexity, able diagnostic relationship broadening COVID-XX provide ThermoFisher samples been to their to Emergency validated expanded EUA Diego headquarters the molecular of for platform level to perform this Scientific
turnaround specimen testing to by Gavin any is Governor Newsom, briefing have daily difficulty to with we to This estimated of hours. kits have to-date, been not COVID-XX clients able testing up in securing these was challenge and labs for XX faster recognized for had times national We large PCR can run The perform than much reagents specimen can his to and Biocept collection swabs XX kits collection in California that yesterday. an XX tests Biocept days. quickly many COVID-XX gaining take customers. COVID-XX to send for
in provide intend provide, compared kits. testing, collection own providing test and available be our Importantly, to distribution with he needed testing, specimen address and reagent point-of-care as manufacture we those PCR reliable kits this to to for June. like the pop-up kits challenge clients these high-quality securing to of expect order we to and results In pointed to tests
As a reminder, manufacture we our already for our own materials testing. routinely oncology
team have we So, a to this. do in-house
per allows run about capability ramp we to per and Our X,XXX XXX approximately to tests us can that current COVID-XX day, day.
from increasing consider demand. capacity on will We there, based
should make in gearing testing. interest test increases. to clear has volume made his We're prepared As know, wide-scale up may you are we Governor Newsom sure
the testing appreciative test Medicare test. the payment for $XXX per of from We increase previous approximately in per $XX to are
and challenging announced developments a growth period We position through to significant strategies for have continue future. Biocept strong advance this several our that
testing more March, in on potentially CLIA detection as fluid. labs and and will cells launched analyzes circulating to important found on biomarker identify few patients these detects that or circulating In tumor tumor life. cancer DNA as Dunn CTCs were to among well help or we've analyze We launch. therapy offer qualify Cory that cerebrospinal that biomarkers extend ctDNA a provide can assay’s national for detail alterations the can
blood kids allow molecular us tissue key RUO biopsies around our from These assays and our biopsies. our launched also through detect the the these to of gained gained Selector kits. well through as technology detect We allowing mutations tissue ctDNA from liquid analysis to laboratories to through surgical as utilize mutations world blood-based oncogene using Target
mutations utilizes Switch in compared specimen enrich to in most interest, currently for of our patented sensitivity Our technology ultra-high and specificity labs. the Blocker platform ctDNA resulting to results used
combined lung biomarkers liquid available the is mutations, cancer. the the first and for most cell frequently kits EGFR of for detection evaluated non-small which The biopsy tissue are among
for recognizing in allows the other receipt announced Additionally, we us the CE-IVD Union countries recently Mark to European and them these which Mark. market kits, CE-IVD of
our of and customers going. performing to specimen geographies ability the solution shipper, molecular market using care, solution Importantly, a test blood can recognizing their tube, our in finally provide now is most the to which with molecular in the with our assays our collecting standard transport own sample, start from this collection award, kits. This CE-IVD and finish, the from sample is Selector blood, provides Target these assay we to current in lab labs is the using conduct Mark, tissue, to blood which a on where the
important to menu kits to the to tissue of assays in biomarker of melanoma, physicians. lung, announce in are in great factor treatment and the cancers, determining performed or BRAF BRAF Today, blood. am to be our and interest researchers RUO available we I are other pleased gene are Mutations on and launching that as an
efforts of As clinical the focus of biopharmaceutical our launch customers U.S. with we globally EGFR first you will testing, for seen outside customers have and our on
for includes in this future. also new the for plan Our CE-IVD applying offering
As Target our Brazil were Australia recently, platform. we patents expand enrichment detection XX and internationally, Most reach in we property. technology. molecular our mutation patents cutting have and also edge worldwide covering our oncogene expanding now intellectual our Selector We covering we're granted
in We Clinical Selector clinical compelling continue to reviewed journals. samples. further identify using in publication technology March, present Assay qPCR further In our highly biopsy peer of Target of we mutations liquid validates compelling the to announced our Blocker technology patented the validates cancer-related data Journal Pathology that yet that reported data previously Switch in
extremely samples,, tissue KRAS Selector high all with blinded genes. samples commonly to study examined associated with results assay showing cancer the study sensitivity a in from XX% XXX demonstrated BRAF for XX% tissue assays specificity, found EGFR to and concordance assays. mutations Target to obtained Each and compared clinical accuracy, across in patients Our
And many receiving you or week of SEC. filed in should XXXX proxy have seen proxy be with the the next our shareholders mail the the so. And in finally, material
the a be the holding material. on Meeting pm are reverse format at will split. one, of joining We on in our meeting stock Among Annual virtual proposals Xth X:XX in Pacific proxy this Stockholders Instructions a authorizing is June Time.
approval listing the of Board that NASDAQ for raise proposal, $X requirement. to Our majority and option maintain our is not so stock to to the majority reverse the share of vote split outstanding simply voted. have A shares we of stockholders continued requires a requesting this price shares per
proposal. to important count for against the as vote their non-vote a it's the as shareholders vote very will all So, proxy
financial with to And over Kennedy Tim review results. turn the call that, I'll Tim? the to