Interpace Biosciences (IDXG) 13 Nov 192019 Q3 Earnings call transcript

Greetings, and welcome to Interpace Biosciences Third Quarter 2019 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded.

During this call, the company will make forward-looking statements. any is is a that of a you fact historical forward-looking caution statement not that statement We statement. This financial includes projections, company's expectations, plans, remarks beliefs, and about the prospects. the on subject in are numerous the those results important that analysis are to call uncertainties to judgment and forward-looking cause statements the conference statements. based as These described of could date risks differ of and from and actual materially

in uncertainties associated as in conference with the September Safe made X-K today's as statements in for this with in described SEC be periodic the Interpace on shortly, filings, well SEC XXXX our and XX, the forward-looking with call to including in filed in earnings on the are includes XX, of set section which the Form the third The XX-K risks March filed factors Form our of XXXX. well the risk as forward-looking discussions public as filed as statement Harbor factors discussion These release, risk expected statements. Form XX-Q the section quarter forth the Biosciences are

update or future forward-looking do Investors should and to read these statements Interpace not investors so. Biosciences outcomes obligation no to carefully risks. reflect and actual events assumes to or consider does potential these intend

which be information its information. release, company's may supplement information to believe that this GAAP Accepted addition, in GAAP provides is is A in Accounting website. non-GAAP supplemental available table Generally included the have company's the performance. information provided We the In numbers, non-GAAP to Principle assessing non-GAAP on or earnings we reconciling the meaningful the information helpful

Stover. CEO Biosciences, the sir. like over conference now to Jack President to of and go call I ahead, turn Interpace Please would

and wire as should a Thank you, et quarter a all hit during and this hit for the very that call. busy release business morning you but highlights thank filings, joining of yet, time the for the for third it I the Kevin, earnings year-to-date. don't has for Biosciences this Interpace review results believe us and is cetera

on today our Jim Early, Executive me With is Officer. the call Chief

achievements financial I For general our more focus today's date detail. performance review business on and a in Jim update. to will call, provide will our

open for questions. Following will that, the we call

name pleased to Interpace to I'm announce from Biosciences today. Diagnostics our change Interpace

are our early We our leader diagnosis business indicate a by in offering are our Interpace pharmaceutical better to planning, chain specialized the and targeted by applications represent base way for name value We a way biotech from of now enabling broader prognostic along Diagnostics Interpace medicine, and new combined company and alone. changed no companies personalized solutions of to business therapeutic diagnostic to therapeutic historical longer pharma business. we that services

XXXX, results October on approximately $XX.X subject XX, Importantly, which first adjustment, we in the is on networking quarter this of XXth. capital is the acquired acquired BioPharma million, We net to were included the July in operations. our completed Business we're assets for a

business. Additionally, Capital investment two in the preferred perhaps Partners, we million tranches convertible services $XX the of preeminent Ampersand lab stock raised group in with

transaction pleased expected. and better was be complex, acquisition couldn't are with we process, in more the even than date While to we transition performing is as it the a

and business, personnel. and platforms, previously business Most equipment similarly synergistic processing pharma based stated, is with also for clinical of technical Diagnostics have solutions we and the customers customers research pharmaceutical As assay similar physicians our of the our healthcare involved in business solutions using development. while Interpace our biotech is companies institutions, uses our capabilities and business which are drug qualified primary and diagnostic pharma

by the physicians opportunity together based the companies therapies. and optimize will is our that be future of with to We biopharma capabilities cancer believe that breadth leveraging created our on working

thyroid, lung esophagus pancreatic, deep very solid samples. a have we instance, and repositories For Barrett's tumor, both bio of

Precision Medicine, personalized a to a a test patient two-thirds genetic is oncology Precision of that a to with in potential selection disposition. with concept the in of have that diagnostic the tests. Over changes or drug person's parallel is modified are known involves typically tests, diagnostic each identify therapeutics Medicine companion of cells. CDX as developed medicine all combining diagnostic today

Today, our immune over XX and works pharma solutions the a patient's trials, treat including with involved X biopharma system over of used out XX to is immuno-oncology in trials, where business companies cancer. top is XXX

confident are pharma months an in the will four business of only growth, be at growth larger due pharma business, revenues of Diagnostics being pharma which reimbursement clinical timing acquisition planned old, customer the can are party to solutions complement of third unpredictable a contributor Interpace to relatively solutions times to the Biosciences that subject the be Interpace with believe the With the good revenues contracts trials we important risks. we to predictable

platform of Biosciences acquisitions, the under is We basis great combination business and interface the a accelerating to EBITDA timetable Interpace as well growth, consistent for to think deliver Biosciences, breakeven. that as a pharma our name Interpace additional while solutions now adjusted

mentioned basis meaningful Ampersand also financial to from Ampersand perhaps partner Biosciences that has integrate Interpace and differentiate strategic of aggressively of and provide important we a as provides than effectively even in future its investor but and model many assets. is only not acquisitions helps to more acquire us to validation before competitors. seek in our The Biosciences our costs opinion help believe this significant we've and of demonstrated Partners, addition will our Interpace Capital plans, is and synergistic exciting the acquisition. ability

operating in business business operations million selling diagnostic which developing is and and and net We recognized BioPharma the $X.X view our in the BioPharma tests purposes, year-to-date. services. and providing With acquisition, million the of for we to reporting quarter continue one segment for revenue our $XX manage

net are by our the contracted business in or grow our diagnostic We the our by and and remained revenues of and Today, had volume diagnostic Medicare of products. XX% PancraGEN about XX% quarter, business and across endocrine strong business. year-to-date continue for thyroid XX% XX% assays. growth reimbursement our for to both generated

not from included a than quite expected. business as our approximately million in pharma Pharma Revenues quarter. revenues XX, $X less and our Net the the July full results were services from for so closing were quarter consolidated Solutions on

Focusing recorded September Pharma contracts year next growing more. business, the that been XX, worth to Solutions have through over $XX over million XXXX, recognized the on bookings are and expected be are or

expansion, are our our indicated near-term growth to expand Beijing, additional in partnership recently accelerate personnel by key with as markets, China. Genecast plans Our franchise revenue business development add immuno-oncology growth and in unserved

the of the we quarter, million With consolidated to new gross a be revenues, by for while quarter plan reduced approximately to the $X.X billing the year-to-date, revenues due were to collected in estimate excess of principally during and consolidated amounts gross transition contractor. our

recently in be we ASC and set such Our reducing the aggressively continue adjustments plan noted accordance staff our required goals is XXX are reported like for our in quarter. reimbursement increase be as diagnostic with revenues added collection billing an professional our adjustment, this business with should current new in to that rates. to efforts, to have It fact

transaction overall with clarity incremental Bioscience margin For increased costs has as the business of the the BioPharma reductions. both the for business, in operating and as one-time well costs cost acquisition Interpace the of QX,

right are sizing we operations, beginning While recognize to and synergy.

XXXX into the XXXX, in process primary continue this early and quarter will with fourth expect the these beneficiary being We improvements. of

in our also Esophagus progress with program. clinical is proprietary year-to-date, essay quarter third to and During make for Barrett's that continue BarreGEN, evaluation our we the

help the initiated opinion With retrospective as such, key are of and we we leaders study a samples. our accumulating

BarreGEN. initial expect and to XXXX acceptance to announce sufficient results We reimbursement commercially to in support launch clinical further

first independent our had potential of study we Additionally, BarreGEN benefits of published. the

our Early, Now, financial our to to highlights to to like I'd turn call Jim the and CFO, date. quarter over for the Jim? year discuss

key our to performance position. financial and everyone. you, afternoon, of I Thank the on elements would good Jack like and Today focus

the previously of million, As for was up of XX% XXXX third QX mentioned, $X.X revenue net XXXX. from quarter

from the net principally for revenue principal unit expansion Our of XXXX. growth period led in and GI net same businesses our The the from up Genetics. our and growth was the reason business thyroid Cancer million continued by in acquisition $XX was year-to-date biopharma revenue both XX%

quarter third compared quarter last was of the XX% in XXXX Gross XX% for year. Profit to percentage of the second

as was estimate profit year-to-date. Our profit the reduction XXXX the acquisition the of compared year-to-date XX% QX the gross be to reduction to and of was Gross amounts of our XX% due prior Business, to percentage primarily percentage BioPharma through for collected.

an well commercial for and million, activities to and This million, as costs the $X.X commercial Year-to-date, increase over quarter, Sales over XX% new QX additional related is the increase business. year sales representatives prior an sales quarter increase $X.X of headcount added investment diagnostics for our to account XXXX. of in XX% were the as were period. marketing managers the biopharma due for marketing costs of and

up $X.X from in million, acquisition increased Research was the G&A General prior third costs to for quarter million and for quarter the principally the related million administrative second to and of the third $X.X million, or $X.X BioPharma development the in up of - from XXXX, quarter expense $X.X Business. quarter the year.

at and the services fiscal principally end Genetics terminates transition the between The agreement Interpace of year. Cancer

during with $X.X and and BioPharma XXXX primarily million of of in We our fees banking Business. also the incurred cost acquisition million QX year-to-date, $X.X in connection of consulting over advisory professional,

costs continuing increased and operations and a of QX loss $X with is $XX operations million and respectively. associated of minus worth of was acquisition Business million million BioPharma costs. result As the XXXX for minus $X.X will from of minus that QX from well the continuing $X.X the an believe operations million. XXXX loss the above and was XXXX XXXX, year-to-date be versus the investment that minus We And

often Adjusted and related operations and and expenses, goodwill impairment other debt and income interest, bad and from earnings As of loss discussed expenses, is and release, or transition acquisition above, as liability. continued defined asset costs, taxes, in change depreciation, expense, refer earnings adjusted taxes EBITDA. as loss expenses, we amortization value of and changes interest we depreciation noted warrant plus amortization, compensation, non-cash in including in to and our continuing impairment the EBITDA fair consideration extinguishment non-cash debt before stock-based

ended XXXX to million acquisition was reduction of $X.X three BioPharma adjusted negative of XX, $X.X and due Cancer for EBITDA primarily EBITDA XXXX and The the respectively. million month periods adjusted And negative and $X.X in was compared was million million, for XXXX negative nine ended our September $X.X month the XX, in to September XXXX negative Business Genetics. Accordingly, period the XXXX the respectively.

increases cash year quarter of our operating operating average as of our the planned growth. monthly as our third result end a planned costs Our Business, of well million and BioPharma in support as $X.X XXXX, burn principally expenses of to in acquisition the

Cash to of funding of the $XX of September Subsequent October, equivalents total Partners. cash and in with the second million million XXXX. end quarter Capital tranche the of we XX, $X.X as completed Ampersand

end the at growing increased $XX.X XXXX, to receivable to as the of diagnostics. Business, in adjustments of our accounts from million BioPharma net of as well Our acquisition principally million due $X.X the revenues

to the in last reminder, this September Silicon the Subsequent we with facility credit assist BioPharma three Bank. the full. facility, line into XXth, we million quarter, Business year a with third borrowed we of have year up approximately $X back in under us to entered As $X.XX paid principally Valley million acquisition to In a transition. the

and $XX.X assets Total liabilities as of million, was stockholders’ equity $XX.X were total XX. September million, million were $XX.X

acquisition the XX XXX of BioPharma to end is at as Business our the With currently XXXX. of compared headcount the

the before Q&A. the to closing With his statements Jack? over back call for that, me the Jack call turn let for turn Kevin we to

of for those a for period many And for understand Interpace looking the certainly fronts QX release are is the that Thanks, wire that Jim. Business. BioPharma transition you hit it. on new earnings XXXX has

remind diagnostics better pharma and also assay, performing the only business than on with me previously been is is with services fact thyroid The the our strong, business but PancraGEN. that GI said or you Let process, as volume has growth I schedule our expected. transition in not

XXXX. to Interface XXXX and and revenue prepare announcing its top Interpace, guidance in $XX Bioscience of continue million million for adjusting $XX though line $XX also a million the Business full we revenue between BioPharma year is revenue, is annual guidance for as to together. and confirming transition first net

Kevin, me let the over for operator call the turn Q&A. Now, to

question-and-answer Thank you. DeGeeter session. be [Operator Our instructions] Oppenheimer from conducting today We’ll Company. a coming from and question is now Kevin first

Your line is live. now

$XX I to $XX prepared if million provided Hey, appreciate guys. couple guidance the of million million is the the Jack, end of you kind $X fourth you year math Yeah, thanks A your land quarter, is envelope I for right, the if of taking my that back to for the my range. $XX comments, wide somewhere questions. kind million at of for may. pretty

towards and the end are range Can kind sitting the of issued. guidance that here time being potentially would drive the you the us mid-November takes that in some walk you puts of through the currently either lower at was just upper we’re of given that you or thinking end

Yes, thanks, Kevin.

month focused As been and wrapping you end imagine, end can we've September quarter the on up activity.

as a the that's an XXXX wanting XXXX. remainder as while But to I to - mean, end So basically we know by unusual on to that planned. But really obviously we're conservative things basically and track on we're just has recognition. going we of are reiterating of saying, And in I hey, structure guidance principal the you a track listen, me it's guidance And being XXXX. been really think of nature make forward in on probably kind for are focus. moving sure be and that be as lower are

too, took in transition that and receivable methodology the reserves $X.X terms process they of a activity, really how quarter, remember we get for the top under in but the hit line that's those this revenue, And basically, accounted XXX. effectively ASC of charge million overall,

just and careful expectations. to be to meet we But people's want So and either. we mislead want don't course, to anybody exceed want cautious of and we

million in kind and GI, about last us some of to of just is business can from. where think impacts point granularity as to of kind to $X.X the components we and the are And then mechanically through of coming enough. do the that regard reserves, where Fair thyroid, proportionally, terms falling, how primary provide three with biopharma, just think that you of so we can sort

really it's obviously with to those and board. because on revenues do BioPharma just doesn't question a started good it Business good anything it's have coming Yes, the

ASC the goes it's beginning the as - business. we terms guess in of component as of point it the So evaluated transitioning to revenue were really of we And it the back part of reach of where far diagnostic activity XXXX. we the in beginning but back is realistically XXXX how I what XXX that effectively recognition

with honest more away not difficult things the different collection be crack. are there to is is get fall collect. two when we collected, receivables And you to transition billing And process, you're solve contractors a And as them, and those can you in process have through the that further the that trying it the from to problem.

it it's that's but So PancraGEN it just on a and was the the I that's know assay and this thyroid exactly, pancreatic really But in would generally business say kind than the was side. thyroid I guess rough of more don't terms side number. a on estimate of that

fact, that all effectively adjustments in if over reserves up. look you have just at it we million year-to-date And million clean for in that that as or $X.X look be to have, was that the QX, we happen we are it $X to

Got in it. me And then last back one I'll question get queue. the for

going segment and pharma, and the forward who monitor out us For of we how versus thyroid what those of monitor growth clinical profile tracking are the what we revenue expect, break can can’t thinking interested we of PancraGEN sort and there? should about are in of relative you business, what

question. interesting an It's Yes.

So we're I for that have and time continue how doing the may missed we the we but we're to one clinical to on we're you identify in the report going talk that side side. being, how said doing won't and about and it, on segment the mean doesn't under won't BioPharma call,

the at look that quarter you back growth the you volume year-to-date. it, or the tried do If and we to volume go what identify add is activity reference and in we and

with about activity And So diagnostic pretty before. what the really the attractive. talked was we've volume consistent on side

I but year-to-date with thyroid haven't now that talked majority is the would the the on growth Business, of certainly the growth saw it we you emphasis around tell the this, business. We side for the about XX% is BioPharma XX%. that typically quarter and unit in

digit PancraGEN terms thyroid of models. think the sort and side about of as the growth I double you PancraGEN, but digit a on very might units, In equivalent the the the the of growth on be on reimbursement attractive if did is single side math

revenue may side, this, you inside mentioned a looked that On think biopharma tell little and for at the the have give if couple I not little bit of that's about And years, rate. it million what All originally, in to time what's us tell. a ran run of it's happening. last But we're Genetics a I Cancer terms projecting. can the business $XX more early biopharma I you of

question in timing And what through, that we it they're gets through success building color pulled we the having as backlog. did becomes the terms basically is Obviously, do is of and important. all not the gave to backlog that some on pull of of

in the based really have impact. we're untouched, in adding business like San would say So the I we're we're optimistic very that's what we why activity, specifically that been additional Diego. the seeing that have suggest And XXXX people about development territories upon or

And optimistic when on our you the to QX in for revenue as sort referenced you to what be beat for actually, growth the I about range we're think very able us looked we are to of side. at QX, as biopharma hoping

for Great, my listen taking question. thanks

Thank you.

Thank you.

today from from next Ladenburg Thalmann. Jeffrey coming question Cohen is Our

is now line Your live.

there. you? Hi, How are

Good, Jeff, how you're doing?

fine. Just

to the is the that $XX around biopharma XX% just million you the to side should question we'll sound as independently, of So you from XXXX top-line million. not but top-line few it expect it where on questions, we to biopharma is particularly spot where in relative it about the think like a break Kevin's that I XX% right segue $XX about reasonable to gave call going know out range some be are so the

in of of though revenue. dollar amount it sorry, the I'm terms

Yes.

growth? the percentage Or

$XX the point… on The biopharma guidance million seem of the amount, at $XX so XXXX would dollar line for this or million appropriate aggregate $XX million for at top

that's well say thought, heard range, $XX I you think the I within sorry, yes. I million. I'm Yes,

perfect. Okay,

a collected, to that’s early million be the breakout it better to get of may for this a them back fourth coming range to at it sounds kind $X.X so the So point? it’s be some wide quarter, like in of on handle little

a made it. going won't that we was that on time we don't two of adjustments That's And or for an it because really thought, and make sheet in - feel time business we not to mean just basically at reserve right, with the other board this absolutely of addition with point attempting question. adjustment nature we've, that doesn't the just this But coming but you're collect we're good have sure adjustments the especially recognition, an revenue clean we we terms doesn't in an really of balance by really appropriate mean had it. forward comfortable to

way, And the collect I hope we at all. by

not the said, the writing of As of And focus. we're reserving really or Jim is primary business we're in collecting. that in off, business our

Got talk be then Jack, you in where and bit how talk of about a data about some And that it, and could do for work, lastly, to further okay. your you it market, as anticipate now and be and is size the it of the where the you evaluation us reflective you top-line? little BarreGEN could

beauty obviously, it our is product the BarreGEN. GI encourager while. in interested we of only North single they've next in in year, biggest Carolina. the the of And and last a at with pathologists been our Dr. Barrett's space, of been was Nick we piece rebuilt University Shaheen KOL really leader not that this progressing with for have terms we quite asking he probably to led the a out the has is to BarreGEN Nick year level And the and or are Last opportunity us the BarreGEN Yes. talking in and interest business by

the us We're cancer partners, billion it's products. we're obviously that's And if basically product talking the a or as progression esophageal $X.X initial market. even big an potential market. down Barret’s help it's We what will would that as really initial of potential but a really look break assessment doing. with it the We We it need overall to two is at you think that. really data. all about partner of look you evaluation might an at into risk We in

important. first having published independent So think, quarter data is, this really our I

well as on that's years. the focused the you run and ultimately Frequency failure that and can Ablation, an market. be will in the of but standard opportunity if frequency smaller that, XX,XXX that a need that an sometimes on at is Secondarily, improve in piece And reduce or more we smaller We insurers on. of processes radio terms much XX,XXX go will we the on success we're for And look RFA, to data. ablation not more and doing Radio what around area apiece just that's and are evaluating as We cost take confidence a received average also of multiple only care, well. need

as the that at we've we also make to to of processes. those recognized ability molecular determination And have ablative the success a a level

we different So us. a important potentially are of couple for that places have

I be us Dr. taken to think will a us year Narick on the responsibility area. believer And in And has in driving she big in been direction. our this from Tina big a whole that has XXXX us. guide for leadership team

with very Obviously, the on we're we've are extremely that, very can side, activities members excited the team of been about about other that BarreGEN. I on very, our focused you promise it. GI So, excited but biopharma all

Jack. me, it does Perfect. thanks taking That questions, for for

Jeff. Thanks, Yes.

you. Thank

Maxim question McCarthy from Our Jason is next coming from Group. today

line Your is now live.

company on when component question. you of Hi, suitable you of some the provide taking or acquisition? it's synergies granularity is for to Dave thanks a kinds evaluating line the everyone, for whether respect my Jason, a look company Could with a for for typically

we the lab, of interesting between a Business, diagnostic mean what do companies in Yes, ask one we're looked we Ampersand were with of it’s I is, sort or I actually going as the evaluating to tell at to million product look BioPharma I and even not can Actually, $XX part are with synergies. we you at one another what $XX million opportunities, maybe million closed driven. were esoteric that different by reference But already about before on that in you really area business. in working question synergies, $XX our we question. we're we range opportunity an somewhere that revenue, that And that synergistic are thought

team, have GI end group only we can a and team or be and products can synergistic, identifying into well an the not top front breakeven flow end are have we commercially fit and back the line, have we endocrine and team, very that driven, because cash positive. So, that the to as but that already

So, that's area. one

The our internationally other is, in as China very is biopharma partnership by It's international that relationship already are expanding serve several there exchanged there's was the sharing have in we we've a or last Genecast at we relationship at customers about side, no just We look in think footprint. how had looking value money we deal. month the that that. a and much did But a in The deal lot so. customers, that customers. developed we of

a examples really there's of a that So good couple the we're on. areas focused

Great, that's Thank you. helpful. very

Thank you.

Partners. from question Global Alliance next from Haynor Ben today is coming Our

live. now is line Your

Good afternoon, guys.

evening, morning Ben. or Good

level you $XX compare on than morning. the to is, bookings, bit the or a that kind late is the on any or prior bookings the mentioned question of just It’s that next how or is But does you that been kind I guess my more. year running going? over have million little curious the recognize of expansion that at CGI what direction color that acquisition might off to

so the remember, since booking XX. July receivables. just Yes, including not assets, we that's And acquired

to of you to XXXX prior to happening, to really compared growing was have cetera. you kind XX, that the it's on that go back et activity I And cumulative a in and been back would looking that July tell XXXX. really results that's So

you're don't average don't typically disclose contracts, terms of we seeing the the also think improvements I size in kinds typically of customers although, that. of and

or excess of there above pretty in backlog, and it million, quickly. I Our target bookings think $XX is will you see for to get we'll well $XX like we'd if million,

regions that's they thinking commercial kind people many How Great, you be would San that? Diego, might helpful. then into expanding like do need areas how of many be helpful? about just untouched, there and covering? been Okay. Any do areas that organization the to or And color have

Sure.

the So or about you if when commercial have you the team, the at and clarity, people we XX and have we GI. and Business, XX you just in and sales at for look at BioPharma in roughly look thyroid PancraGEN look currently sales related team,

at physicians are side look sales - by way we and biopharma people that really on hospitals. and are the As the those calling

of big to geography cover. So they lot have a territories and

sort you And that companies on look or expand. we and BioPharma at When people you're the and over the want pharmaceutical companies. inside Business, of group today to four of you business. convert is pharma piece biotech And that's focused three the that

we So that to that missing expect two are territories fill shortly.

San have full so plate. the at you other that filled the already two And want And we've we'll for One, and list, Diego. our a imagine be. on might second Boston to once and think where we this you business, is one - that's those get I filled,

more of Okay, then couple questions. And kind housekeeping a great.

does expenses else the out in EBITDA in And you include time during transition calculation? that just wondering if it was then the the that kind of anything G&A, that one the On break there's quarter?

not sort and in looking $X.X saying G&A at now in at million right is related year-to-date, over BioPharma $X number a I'm of Yes, if you what look about QX, is G&A in $X little the to million the a million Business. G&A, you're

And the time - effectively putting those of so are we two try having the to - will, broken out, those what kind and is. non-recurring we've that that costs, together companies the costs you rationalize are without if generally

two and some transition seeing we this you're move overlap. process, through is, what as So companies,

to transition the year, that get be in the we you'll the end we’ll of the that size, whole right at see as activity. and through think I synergies XXXX process able move into

looking you're that one? Okay, a that mentioned me, then run bit Could million great. that you $XX get And company lastly, on specific you more for with at the little rate.

of was reference it company example would not that in terms the was to Ben, a we I at of of one looking and forward was it activities. lab a It Yes, you reference with Neo had space. chose was were a though, a say people move business one - tough in a lab they tough had that and and business, level business, of nice like really great lot they company, some with The Genomics revenue. people a the compete nice can we be of

the on side we in the or call area that the product like compete We esoteric what side. we

we're continue of that terms as looking biopharma immuno-oncology for as in big that, So, to broader in arena, I product that and at, being to opportunities but a couple an a big, we're more opportunities that for don't and mentioned space, way we looking the based actually able which, have by more areas the a franchise, well focus grow in is forget us that.

Excellent, very gentlemen. helpful. Thanks very much,

Ben Thanks, soon. you and see

Chen Thank question [Operator is H.C. coming from next Yi Wainwright. Our from instructions] today you.

Your line live. is now

Thank Could taking XXXX clarify China that million whether questions. includes services that biopharma from from BarreGEN for partnership? whether from you my potential includes source test contribution - the potential $XX and revenue revenue that you for guidance

improvement is it's because recognition it revenue us to until Yes, nominally difficult will And primarily includes estimate from you get if for that we BarreGEN. now reimbursement. or on

some revenue currently, there So see we that. that does for predictable. some by not and but do revenue it's for in way, the BarreGEN include There's not

partner seeing think an not of that's potential. terms number. coming specifically already of in from upside we and are having that to expectation the revenue benefit of the in And a Chinese the China, But it's I

seen to into enough it other XXXX. we to bake forecast activity haven't is The way that that say of for really a

[ph] collaboration second with intelligence. Got thyroid in you regarding artificial cancer with Helomics is And previously announced it. collaboration question the

on test drive in going update that XXXX? and the to is that how Thyroid So the what's collaboration

additional data basically the What data that of Remember us I for in don't in that to at and answer. A, is; source terms we convert that's of data. have we AI looking do have some too thyroid baked to we where new our the we're we volume as and and information. we that a provide component the not XXXX, the so a It's revenue expectation samples driving lot have not information because into of it's that of have lot thyroid, started PancraGEN, a Yes, information in have just potential we although look with it plan. really in

Genetics Cancer one bio basically of subsidiaries also And importantly, up the acquisition, with the Genetics. BioPharma Response solid we the picked repository tumor, of

a terms component. kind data for we intelligence of the so we're help of in of And have lot artificial looking that

All before, that AI driven as and essay company that in us the important of move or be the you at is. I've said, an look what business changing that it, this we quickly. and five forward can we in more is being are than and firmly that of how years, And of I believe an driven we imagine part data company side said do, you driven we pharma may

going making more stages precision evaluations, [ph] in So or we're the we're at do very of early terms Helomix with but to of it. those

going the of that volume Okay. PancraGEN reported, of high value to forward? PancraGEN. And the will regarding supporting negative Do data sufficient drive the recent predictive data be you think

with that good are commercial a a at about it I we that of that seeing process. it's or the working is question. good remember is right? the Listen, are and payers additional we growing continuous data, on all reimbursement that's So PancraGEN guess, the it's process. So same not data the level. more more And Again, PancraGEN. is incremental growth in and covers Medicare news

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you, Jack. thank Okay,

soon. you See Jake. Thanks,

reached conclude you. and Thank that gentlemen, our of question-and-answer does and Ladies end teleconference. we've the session today's

time a line disconnect have at you your thank may and for your this You wonderful day. We participation today.