Exagen (XGN) 23 Mar 222021 Q4 Earnings call transcript

Greetings, ladies and gentlemen, and welcome to the Exagen Inc. Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note that this conference is being recorded. to Investor conference Relations like host, to now Douglas, Ryan for would turn over this your I Exagen. Thank you.

You may presentation. begin your

Chief and and ended Rocca, Chief Adawi, on December the joining this President for XXXX. The Inc. and for thank website Mark host currently Earlier Financial Operating XX, quarter afternoon's Chief afternoon, available is the year Exagen Officer, results released Kamal at us fiscal Executive and company's Hazeltine, Officer; release today, will Officer; financial Good today. you call. www.exagen.com. Ron

results uncertainties statements. implied material to involve cause these not strategy Harbor I'd Before we on anticipated call to get within COVID-XX securities pandemic and business estimates assumptions. of statements. to management that will forward-looking Safe are include making future business, started, the this you like These upon statements current during which remind differ of place federal those pursuant laws, everyone Securities Act that be should our and should are statements meaning without by statements, could statements be statements from the that risks limitation, made that Reform our Accordingly, call and this the statements materially our product of forward-looking based forward-looking operating XXXX. in forward-looking actual not XXXX of statements historical provisions and guidance, or various coverage are and regarding these current performance, and including, statements. on impact reimbursement including All undue contained and financial offerings future Private of Any deemed fact reliance Litigation the

conference please forward-looking our subsequent the including Form over statements, uncertainties Securities with any events I revise XX, information, information, live President and associated filings new whether this information list law, by call Rocca, or description future disclaims and risks now and a of speaks Ron only financial Exchange Exagen. of with the to our March because broadcast except The or CEO XX-K obligation to call intention turn any in to and today, Exagen update business, or see projections of XXXX. or provided For and Commission filings. otherwise. as our the required will these

thank for and joining give the call. then and growth and XXXX I'll to our over will as on as you details fourth Ryan, financial plans. our discuss Thanks, our to I on results. everyone highlights pipeline payors, Today, hand our well updates CFO, Kamal, it quarter

for extremely of year revenues we fourth million always, the continued year proud appreciate one and was in record-breaking We your As had of. we're coming $XX.X another million for Exagen support record with Exagen. the XXXX quarter. $XX.X of

in record throughout year XXX,XXX Our strong the in tests fueled flagship over tests. delivered the delivered fourth Lupus, AVISE XXX,XXX a and which CTD AVISE of by our including the for From test set XXXX, have year we was over a inception of through delivered tests record performance growth XX,XXX quarter. over

autoimmune recognize our the various retention the total achieved achieved frustrating testing of diagnosing ways in very to volumes to continued ordering of adopting point in record the quarter like very process that flagship outbreak historically I'm these value out testing. in the was sequential saw The proud accelerate help a autoimmune from the in speaks disorders. using we total We XXX delivering persisted care United this where again that rate We AVISE health as slow were mid-QX in impacted worst diminished solutions and of quarter. January providers also health the solved an of XXXX States, in patient for Lupus providers that would prior Since for fourth in and test. team Omicron CTD among subsided the continue resulted records show record XX% February these flow, through the test. our demand past record which X-week believe impact X,XXX regards and the high and and adopters all-time retention COVID-XX a We of Lupus sustained health of I providers volume our rate X customers care variant increase CTD the AVISE number volume. milestones clinically of and success Omicron saw AVISE record AVISE ordering to a high care to years volume. that testing AVISE in year in our a

as total progress are in-network covered XX our make national these announce for patients high momentum the over million. to This inundated our to adds plan, strengthen, continues both currently million dossier in-network to to helpful We to and agreement forward the and signing are and continue brings payors is immensely in-network Adding COVID reimbursement over XXXX on Centene. continuing happy this a agreement XX lives be priority with a to continues lives. front and payor Signing not with Exagen the payors We test. reviewing of contracts to look in physicians. WellCare,

to Arthritis selection to IP for solidify testing R&D key tissue Rheumatoid technologies biological exclusively Response expression Turning autoimmune testing focus patient doing therapies. rights addition bring to innovation of medicine Mary style Exagen for will In response of London rheumatology. as so, the that a commonly second strategic with our efforts. of University the of Drug RADR. portfolio licensed prescribed of through sources added utilize ours gene and strengthen precision our stands IP now to which multiple AVISE our drive portfolio synovial worldwide We company. AVISE biopsies will predict a platform prior Queen A is to RNA from to testing we to premier RADR, oncology

in and suffer of multitude reach expect United those the of will in States currently are the to RA therapeutics precision will payors. clinical We in States a high-cost disease activity benefit Unfortunately, believe therapeutic their alone. low $XX state, with only XX% spending about therapies. the patients of clarity Approximately of and We million will rheumatologists platform platform, prescribed AVISE patients which evaluation add X RADR approximately both implies this United a significantly from people our testing billion a waste have different that

are empirical developing new the Board Advisory to RA leaders therapeutic selection RADR We trial patients error Scientific a the and of odyssey and thought We top AVISE field. formed of that resulting in the reduce experience. recently comprised

new needs. and with addressing for Continuing AVISE us address we with largest large our the a infrastructure experience one targeting are it KOLs is to to QX. believe another existing platform program needs pipeline, fit We We with for rheumatology perfect are this Exagen clinical of our allows Insight because late our Fibro test. in leverage unmet market therapeutic markets a unmet

fibro AVISE CVS, the our complete. study additional officially in We both MTX is We covers patients' with throughout are you to year. enrollment launched. The on [BETTER] complete. topics XX sites trial forward and Further, happy year the now updates a to study Aetna approximately the with will announce look take providing has to

across I over the plan hand important call to Kamal, are verticals. to on by the hilltop we Before to own note executing all delivering I rheumatology it's that our think

Exagen and Kamal. will now to to that, over execute our coverage have and been develop the continue to is of never opportunities growth commercially, The turn call extremely payors is I mission Our a of important our greater. robust pipeline. strategy expand With

Total revenues, are the from to were a for and from XX.X% fourth were from product, core the AVISE XXXX $XX.X and revenues driven Ron, $XX.X pandemic. good represents a QX you, was increase the the Total afternoon, Total XXXX. the a year-over-year testing primarily year. million. Thank which derived $XX.X quarter impact XXX,XXX for from Lupus, for with ongoing our QX CTD, growth. XX,XXX testing QX AVISE consistent which in in by everyone. year COVID-XX despite which record full XXXX were This million, grew XX.X% revenues XXXX full including revenues were year-over-year volumes million,

AVISE $X.X all franchise gross the Once for of Cost the mentioned, quarter the we $XX.X XXXX revenue we agreement. Ron of year core again, for $X.X record test are with other in revenue was QX QX million. $X.X million for concludes XX.X% were of CTD $XX.X XX.X% XXXX. full SIMPONI in was was was million. performance spite from AVISE a XXXX. testing Revenue COVID-XX revenue X,XXX ordering compared revenue As QX testing the in pandemic. QX headwinds CTD the with of resulting million $X.X for will our in recognize revenue revenue health million pleased was ongoing care million for to the in margin compared and testing providers and from other QX and X,XXX XXXX was number XXXX, of

and $XX.X year our XXXX. the XXXX. XXXX in revenue XXXX gross full the million team in also of record increase for QX due QX Agreement. the compared $XX.X XXXX. XXXX team. gross represents XX.X% driven from of expansion excludes compared gross Janssen Janssen sales volumes. gross The million XXXX, for year effect for the at the to tests R&D incurred with in Testing of revenue margin the compared full margin testing decentralized million of million QX decrease and margin inside were of Agreement. force decrease XX.X% Operating The an $XX.X $X.X the to were The with costs noncore $XX.X QX was gross and $XX.X an year QX gross XXXX. compared For primarily resulting $X.X and platform was a million in sales in for in XX.X% expenses a XX.X% of compared increase was loss due a AVISE revenue Testing of XXXX. with QX net a Testing margin cost margin full year million the cost in XXXX. margin in the the Further to XX.X% the XX.X% with XXXX margin support full million our million compared the from full XXXX were Operating the expenses with to record was of $XX.X at in high-margin RADR build-out year to was by gross in of creation were

million the $XX.X For to full year was compared $XX.X net XXXX, XXXX. loss in million

balance well capitalized December Looking we as Cash of equivalents were at XXXX, for and XX, remain growth. $XX.X our sheet, approximately million. cash

in For the million range. million to half the XXXX, in and revenue Omicron the variant. due total full to impacted surge negatively $XX be expect $XX were February of year January to first we

As record. have and for in mentioned, CTD an since all-time Omicron we AVISE total volume subsided seen the United in reach Lupus States X-week the test Ron sequential previously AVISE demand mid-QX,

We will now the for open questions. call

Instructions]. [Operator

question Our first Max comes line of Masucci with Cowen. from the

final Congrats question with other conversations It's is, payors? could Max Centene payor do win. play the reimbursement for Centene if in think that And you Masucci. your on win Stephanie the My role on first a a you or in, for order hurdle as on address this what could give coverage to specifically you you a little secure did in more to with color factor that Centene? instance, find needed

national happens is a Yes. Thanks, X/X And one and feel big important coverage being $XX does it along the We other of that, dossier plan, is have and as What welcome. for Stephanie, studies is put going as you payors. national continue it's an the gain well approaching we country in status. other covered, million. is pressure that, obviously, have now we momentum the push on and over This materials network us. the with for to to as

it So your absolutely should question, yes, to first answer help.

do you of We take have for enable point the You tipping KOL criteria to payors just support. There's care a doctors where the momentum. the become these of part to patients. gain

over have that really journals, are about that. good so in papers feel We we top published XX

test of issue your aware too. that. And question, in they're thousands need who to care and has second disproportionately. this late think test patients really in of and of really in developed by way, pitch women XXs. it. samples. a And lupus And a stable the mind to early disparity need really We are I they see that American they of out do Indian disproportionately, take in the the women, Keep there's the these the we They XX get an know we women with treatment ANA was African this. Lupus, actually as and fever affects it far that that. X like payors, As that use, run used lupus that need reached and anti-DCNA of of color people with could Hispanic, the color, XXs

potentially past, they So the it have correctly in X which from get choose this a took to with why is didn't years to disorder. lot diagnosed deadly

has far big this the does testing been as So disorder, you them on the sure and can making a the breakthrough have treatment. and that put as proper patient

ask your also I about If could guidance. Awesome.

assumptions core you and us color volume could that And be great. can for walk at through end? around your would provide So both low you are the your and what ASPs any guidance range, high

last guidance. a to Stephanie. is made a uncertainties what the $X million Sure, similar left decision COVID. the Similar on to year, And range with ago we the year

we prepared delay volume the to a over As a with leading primary call, the while in up month the patient to get was with rough there did to end remarks, the for we has And strong because very physician to weeks, care said testing go this the us, January is X through us. rheumatologists. very

that our So wanted potentially we we're to patient uncertainty we Asia and And that to that are cause make to Europe to led had range can test. U.S., it year our delay this the ago. and have in when with rising that sure pragmatic a similar COVID, providing, get with of and the the we for guidance we that a coming BA.X

could And agreement then AVISE last on CVS provide Are any I sneak it. supply that question. updates to in you with one your if Got MTX? can there pilot

Yes, absolutely.

So like it's outcome It We kicked of And working see obviously with their institutions. marquee CVS. this. It's we're off. the to excited Aetna, started.

therapeutic confident people keep that test right Methotrexate the on correct the range. can give we're at So to necessary therapy information AVISE our the

So We're it. it really excited just kicked about off.

to get than So with share are information, be you. happy we more more as they. And we'll it

comes William line Blair. Brian question from next Our Weinstein the with of

on This for is Griffin Brian.

for play? better given on multiple clinical Just more answer questions you the this expectation the over about patient into few Can comes start. a where RADR journey to that? little to and this RADR Is times journey bit two test to want just a and talk understand

Griffin. Sure, Sure.

it shocking really have arthritis. to to big a fail usually where is is anti-TNFs of area. times, now. XX huge very goes see joints to is reach you And So this They XX%. tries methotrexate-type right the this a now, get the feel rheumatoid from they an Obviously, to journey just is way have there, is the you. what happens $XX,XXX, you patients or is What something $XX,XXX not usually called doctor whether anti-TNF. are And work. for DASXX, That's these lot that, And the empirically, very the don't to a TAM, these product. with work the the are XX% year I get always lot for for call expensive. better. therapy the what ACR a it of spending even a those way doesn't is frankly, quite believe And people Griffin, reason that would And they use therapeutics you they

ours, a this guided would having which there's diagnosis. add -- work platform can diagnostic therapy the that that's can clarity to real molecular for guided. empiric that testing key So And We inform changing RADR more really clinical a like and patient. is here. to a than best It's through test.

a can, it X So whether with and built B their X, here, will JAK of and a test right X metabolize RADR want X. mind, the sure X is for of informing a RADR tell that the then at they're or therapeutic now the methotrexate. infection same will looking tell look make use We inhibitor. second could some they patient out maybe anti-TNF coming so doctor an our this And they're the RADR naive resistance, it's the If keep patient is RADR take obviously, even can way IL-X you up naive inform whether the maybe therapy blood RADR actual after there's class is site can range. the instead some off to test. products, with tests X. a reason, with not using the to in they immunogenicity, -- depleting happening. working better the well, at of of synovial eventually We tissue, at in not we're because look is on where is they with

that with scientific money. a There's the $XX of here key the letting a the actual treatment and this save can will from That empirical by that doctor to for tissue patient. based therapy is area. treatment looking billion lot right inform at test in pick So we're wasted the moving

very payors point, this RADR test. soon in to very They're launching and So forward us really as X as with looking interested engaged are our we're both RADR at and possible. X

you QX needed of in late going EU, just think those the out launches? ahead be terms here, 'XX there. And do timelines of generation about launch I talked you got evidence But kind is some mean, what studies proof-of-concept KOL European of to

you on We're was have that program this year. is they real of us where of test the for to at launch. of world Two lot how you to reasons. going the program end An an are us gave future an now. good be a before ad board, Yes. have terrific. working use got is your right they'll is look the speakers. a to We and One inform our actual information They get our couple experience KOLs experience of do we is which test in that

there's the are of London, Queen as but and duplicating that evidence, University evidence of of far additional out studies. As out we're we actually a lot adding

We endeavor. that economics. this complete really participate clinical in putting that from excited clinical want validation, rheumatologists dossier health the product, hearing enthusiasm together. with care And in have we're will all We're our we're scientific utility, to a

on And of you quick expectation little the growing characterize expectations. the come the expect Can about existing mix just that talk increase on clinicians? the base? do ordering bit? just ordering that you Okay. an Is one of more utilization in majority the volume growth? one for Or you from growth a to Would in

the up any really all to it's lupus it the the The a office. isn't in test, information. any with work payors. rarely somebody agree autoimmune do superior doctor get saying with let's only do this -- overlapping -- that markers get Griffin. They Sure. gives them to this is ever a way way, The with volume that a hindrance growth and best the best volume rheumatologist We

So lets is scientific object reason they with you getting is a down. the ours. payors don't usually have them. it. a of that the initiative it key until to will It's on guard Because It's not contract payors that a reason use board the

It's to the to million under So so that's is go. XX it's we not issue. us the doctors not what for we the not push -- patient that. papers XX It's covered, doesn't They pay way have of or it's over why the the have continue XX patients the to important to the agree makes KOLs, and to this that have we It's published. is whether covered that have out pocket. of so not

So that's working what on. we're

knock do rheumatologists infections this increase. on most autoimmune we keep covers a of see As the basis. will And volume anticipate these test I that down, in mind, daily

Our next of Mark Massaro BTIG. question comes the from with line

Vivian is for Mark. This on

SIMPONI the and of partnerships? conclusion SIMPONI diagnostics you've co-promote, the with other can been maybe your speak options therapeutics sales biopharma you exploring commitment replace to given Just to dual strategy, a how to also

Absolutely. Sure.

that's of than in a have sufficient any my in I If criteria, to asset the life, And here. So assets? I'm I it's an do opportunity take it words, it it very those Are so with customers? when a important to In at hits they type willing with by And I've that other we've appreciated our the can of in fit partner not do leverage done our combination more are is such the what rheumatology, it cost look standpoint that Does have. X, we it. to our asset economics done infrastructure? willing we're autoimmune the sense past current other make those and this. lose is from

a quite because down few those criteria. turned hit have they didn't We

to not it. I'm opposed So

Janssen with open it after still that the think a talk is Janssen lends may of with pandemic door down I of precision COVID. The month with and talk up SIMPONI. think as Remember, still it. SIMPONI We that lot I signed strong. that to a actually a them. to initiatives. to as were relationship well a some road. of caused about A really hit, issues happy signed things. agreement with these we of We it, we accolades still conversations medicine before absolutely from us We COVID RADR lot worldwide possible lot the

that -- that going So to here criteria at from fulfill I strong. was relationship X But nothing really earlier. those we're on with that. we do mentioned to is Vivien, out, It look assets

As of usually hilltop, one to the things rheumatology, up great who will, far us the having space and as calling owning if anybody options, in about wants you the discussions. enter ends

the it. The company very have in as comes bag. meaningful it fits with If And is with fibromyalgia, So to multiple therapeutic growth as discuss that criteria, here concerned. our our assets, well it the we when take are we as look look put works, have when our criteria, my currently have of commercialized. if at and in terrific in far other and assets will Vivian, pipeline a here. RADR I now, way. right fits that's here And the to it key plenty we'll a I right options put as to do it at If I we'll continue

Perfect. Okay.

TAM Just could we us And for multiomics a the that multiomics remind could follow-up. should diagnosis? that R&D, quick on updates out you any provide earlier expand how into for help there? and milestones looking you also could be if for Any you

is about where Multiomics, Okay. just lab now the complete.

that in that will look RADR huge. HUMIRA, run for AVISE test test. side all just tests, market be REMICADE, an especially And is have I based a there. through is our that at the the RA. big will TAM those first therapeutic -- CIMZIA, It We on test, it's multiomic RNA with

we're to area. alone, wasted we addressing. billion that the again, the TAMs the So this have $XX on possibly And with out X going do focus be I States the year every think testing got to in it's payors be of that biggest there United

we're So definitely multiomics something interested that's The the is in. TAM.

us. for interferon like, We sense adding have a for an and does lot of example, make markers proteins alpha great

just type by and these interferon that if that out there it to a for sense meet As an therapeutics them are test, test in is find makes AstraZeneca give launched lupus are, fact, quality companies, effective. you alpha new us that the developed products can being product those

Our comes the Mikson Canaccord Genuity. line of question next with from Kyle

Congrats a on like on I Centene. on Centene. multipart the quarter. had guess Congrats question I

guess, 'XX like getting list could pleased So part you're maybe talk that? like lives just confirm how of the TRICARE lives obviously, compare I West, could that second it you of all and first, just Centene that I also your includes And excluding lives. already. just negotiated? you of had sort the And And looks 'XX of just this rate based the just your PDP given And these guide negotiated. that here. with kind question does of kind like East the the overall, you way to basically guess, ASP? you, are specifically, all on you was kind TRICARE like current curious, outlook like, price the that implications on you or about Like the

TRICARE to to answer entity. questions, the families. basically military, first and and going as ASP. X its Kamal is the West the entity, far I'm going rate its different. Kyle. is question then Great, they're answer West is both own the own TRICARE military East and is TRICARE as

that it does they but So is over that's the took down. That's We right isn't gave we already and you number. isn't the WellCare really numbers we some have, XX cover lives Centene, really why the million areas, that XX Centene exclude -- why that. -- that

not don't you that majority. cover, error, they it's do some will. are but the participate It's that a if there plans So rounding

we want in WellCare TRICARE covered you need. at is to what look So is Again, is in-network, West which Centene, different.

kick As the to Kamal. over going far as I'm rates, and ASP to the it

we've tell you, accretive this based testing details I any can would and the margins. pricing that never of agreements we've Kyle, this provided the But the on to from revenue of to on history signed. payor, be

RADR. then That a of with kind like sounds few like on All good. great. right, And already maybe

anything maybe being a there going So rule like therapy RADR first of Is that out about just or from can there's be a that RA. to the the rule rule developed? industry blood-based what's physiology academic is of blood-based today, test out there kind precludes already technology like test in institutions available select the including in blood in

thing A popular of Yes. couple biopsies they're because is liquid convenient. are

people that's not thyroid, like have case test. something That's that, don't real the do show convenience if that’s have demonstrative will, surgical There's you I that with surgically a surgery. don't You to like not like the procedure the those. to remove And here. to reason a to. blood

test RADR that care Our a doctor. will have. exclusively the rheumatologists. did primary elevates act the become their procedure rheumatologists It's And rheumatologist through our like and a go to basically not fellowship rheumatologists

something procedure So them thing. value beyond they that's and above one to can community the like do. the primary sophistication doctor and It's a of just for they solely that That's forth. can a medical add what themselves care so

all But to kind white at were the The infection of synovial us the blood the synovial meeting, cells, get before of key. site the diluted. red just site saying, has the to picking accurate That's in our getting it. second And is that's when rawest gets diluted so of recently tissue in infection, piece what the advisors actually the look is the the answer telling way that's has purest blood scientific not that's this. at advisors are bloodstream things most blood When you're looking at platelets, at were it dirty, tissue, blood, you forth. blood and out cells, a you're information is

we down medical they be test do we hold as is in the accuracy like continue critical they the And a test have get it's a can versus of feel important. road. that procedure rule and A no critical. tissue because doctors going a rule proving command of the that So to And asset. develop problem in to is blood is

And then an possibly think Great. using option. the PCR That was I good. decided actually, like you Have guys Mark, for RADR or maybe yet the encounter test decided on NGS Ron yet. And have or test? you sounds on actually like the instrumentation for

into is our Kyle, discovery XXXX NXT have as we And Illumina well, work. which work encounter do clinical its this Yes. for We way for might discovery Mark. also operation. make

the We for the are might count and X provides count for the PCR of performance Kyle, the it's with evaluating X. gene platform. low go RADR optimization and enough RADR we characteristics, and the if gene right

stand lab. are the looking opportunity for right at now, for expression but as we So is there we an with RNA clinical gene optimization NGS,

makes on, last all one I for Okay. Yes, right. that And then me sense. guess,

So Board Advisory Scientific appointments. congrats on the

pretty over had be product and you new computational X Board could member learning about optimize and time and kind the assay how AI test integrated of AI and you develop as algorithm? machine a methods. has You big talk into in like like background maybe data that RADR the Could the solid

already there. implemented It's Yes. being

data We robot. use have -- we

So we now extensively RADR. AI use quite with

So valuable. the be data way I to into through we're -- it is AI, big get robots. informative very it use to data the through has getting proven it can't very been but data details,

a Kyle, development. that's absolutely, yes, So been this important very part of

comes question Cantor of from Osborn with line the Ross next Fitzgerald. Our

Just a couple quick of me. for ones

specifically 'XX, the how shape gross walk high out of and headwinds margin you given gross regarding this So to quarter tailwinds expect maybe testing seen and seen? the you in margin, gross during the margin. calender Could through fourth some testing

I'll question. take Ross, Yes, that

fourth the margins AVISE the that to record Centene automate. us our on year saw helped our lab. why gross we have margins margins increase, is these to $XXX. include expand this our Other purchasing are lot to increased and be on $XXX margins discounts. gross That's to as of see so gross First, like testing We've always CTD a I'll done us ASP our as ASP QX, north last quarter we driver efficiencies in We important quarter deals our a gross was have X% a areas volumes we in to going year-over-year forward. say WellCare, our biggest going test, driver

And of sometimes get at and end bigger purchasing credits hit year. the in those year end the discounts the we the of

We of that books the also the almost have XX% off XXXX. in CB-CAPs. completely royalty That's

how that's months about on pay P&L us, at the for months that to sometimes ended a to looking So completely XXXX. year-over-year, full in to XX January the Royalty takes calculated. But it is XX% come was that royalty takes Pharma CB-CAPs because of a payor off and royalty that paid year XX it

the look you And How hiring has Got the Okay. just for And been sales is follow-up. just year-to-date? you it. Are plan kind like metrics of any And force. calendar there provide? the seen a that quick describe during What performed quarter? would then 'XX? then on fourth then the performance maybe

for I to without Very record No Sure. a a the meaningful, performance. But XXX,XXX face for very Look, middle of are that of proud I'm is daunting. of proud XX,XXX in is is And to hard pandemic. of adopters continue The the a as XXX. very the tough, my drive being able quarter, sales especially job started pandemic. metrics problem. pandemic year, orders rep. I was the a to of Those hitting in a the -- career are

crazy. as educated. They're train that as the of We could. well absolutely proud person they're understand very So sharp highly We them team. any sure like make autoimmune and

in to the the to off, continue time of we grow training hitting their all keeps even waves spent these the So pandemic and is the of that face country. and effort ability paying in

this, add metrics. a will can And add a maybe we when what's reach Kamal will doing the As that territory, here disclose to right have that. problem far Mark constantly. assets, finding and get with frequency as I it pandemic it we and look it's and can't if no and in-house we're sit while and people effect necessary do future, need and in reps on now, we we run very the effective. we I sales be I our to at

So think to the don't decentralized as go along we to with And away. well, team that's I continue grow team. going that

learned I augment way think effective it a but have Ross, your new I'd think an to data, use launch that go. cost-effective seem think and product, frequency I to I it don't very reach. to be to does an a way with to it's to customer add companies existing new

Got it.

Would then decline quarter? great. other that And the walk the through volumes you for during last one dynamics Sounds drove in the me. testing

are effort board. just product, in much don't the engaged we in. hilltop of This keeps the the multiple those are prior what assets assets Yes. those, those a across lot don't A that sales lot I offer doctor -- dipped we we've Instead something or products. but my that call I offering life. put of in we It learned of own assets. X marketing think all is

going the too on not it. being some that's a pandemic. for disorders. So some focused They're where them, assets, of flow concerned they're of lot important of and rheumatologists these lupus because them obviously, while more really concentrate on. like products most to ebb about Well, the other I'm what probably these one of and important they

quickly flow very rebound pandemic. patient think to back I come continues they'll as post

the today's Rocco Ladies I closing turn session. to reached for call would over Ron Mr. of back we and like to end this remarks. gentlemen, have question-and-answer

of challenges test the Those that's and things keeps excellence; of elaborate us next support, appreciate for everyone forward I'm on are with and our the to of are payor your pipeline; really can the adoption. One, Thanks with feel With the support I your we disorders. look focused in two, patients for and three, taking payors commercial very top on. thank And I team. autoimmune that, more challenges what so our we're it. autoimmune. focused we're testing. call. extensive X of our Yes. keeps coverage. proud We Exagen. want pipeline for of We development do These our there's in-network absolutely adoption at help development, you excellence, us commercial to That's driven, do

This conference. concludes today's

day. participation your You of on your time. the Thank at you lines rest may your disconnect this for