Guardant Health (GH) 8 Nov 192019 Q3 Earnings call transcript

Good afternoon, ladies and gentlemen, and welcome to the Guardant Health Q3 2019 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I will now turn the conference over to your host, Ms. Carrie Mendivil. Please go ahead.

you. Thank Health for Guardant September quarter financial XXXX. XX, released today, the results ended Earlier

not laws. news will looking distribution meaning received you’d have remind are Before you If the forward- like I’d during be an to federal to to of this we send that begin, like that release the added the statements please statements company’s management within list, you e-mail securities investors make to if or call

that uncertainties could actual statements involve and These differ anticipated. risks events or those materially cause to material results from

these the regarding press Statements information release risks entitled the Additional and uncertainties in in section appears Guardant today. issued Forward-Looking

the list the XX, XXXX, year For complete and a filings of please and in Factors company’s its see more the Commission. on the Exchange other Securities report and section for ended Risk annual with December description, XX-K Form

disclaims by or statements or projections any required financial Helmy? law, as contains new accurate Except Helmy future intention of X, to only November the broadcast, Guardant update to I’d live call or revise that, This conference and because information, forward-looking With XXXX. the is obligation information or any whether otherwise. Co-Founder CEO. Guardant’s call over turn and Eltoukhy, as to of time-sensitive like events

and to you, this welcome Thanks, third us Carrie, XXXX pleased thank call. earnings everyone, you I’m Health’s afternoon. joining for quarter to Guardant

AmirAli Officer. is President Derek and our today Talasaz, Financial me our Joining Co-Founder; Chief and Bertocci,

By discontinued ago, and PSA from therapy, and his side cancer a therapy. with and making private XX-year-old of decisions. was diagnosed metastatic putting progressing XXXX, story. become physician his closed our value effects deprivation I cancer. an decade care start androgen end-of-life had II call unpleasant treatment, began Consistent first, practice a With rising a score despite prostate his he stage patient with will our Over a patients with was

him nine later on his demonstrated in identified wo which therapy and His alive just a quickly started for has many option, prostate patient a a PARP the but GuardantXXX promising oncologist the back caring mutation. months another cancer lung doctor again this for BRCAt somatic paradigm immediately oncology inhibitor Looking ordered patients data increasingly test, which not growing cancer patients. stable believe once story for is patients cancer types. We at demonstrates importance in of for precision this work medicine his across BRCA-mutated

support of efforts example advancing across standard care not of new the non-small such adoption critical simple of patients in evidence clinical the continuum initially for clinical limitations utility the treatment are committed selection and Guardant in a cancer is such focused testing. we approaches. at we generating new Establishing comprehensive investment GuardantXXX to aimed and Health however broad for superior to created cancer clinical requires where our reimbursement we for utility gap believe lung care. of tissue cell In a with market At

in studies efficiency we record to investments to physician time in clinical turn which helped clinical approve and reimbursement decrease high-impact utility quickly adoption. clinical in Through cancer establish conversion to lung lead has are able

publications leading XXX of dozens platform XXX with partners types. and collaborations cancer over Our have cancer many investments along centers led our across in detailing with abstracts to peer-reviewed supporting evidence our pharmaceutical clinical scientific over

HERX dual Oncology at metastatic with Conference results TRIUMPH European the cancer detected patients For of from combination colorectal the Society GuardantXXX instance clinical the strongly amplification patients from study that Medical results benefit recent who could suggested HERX-targeted metastatic can a HERX-directed benefit HERX demonstrated These the in amplified experienced from therapy. therapy. by colorectal September cancer identify with assay with GuardantXXX that

to of GuardantXXX an helping paradigm a we of continued FDA addition to approval strong to will important catalyst GuardantXXX. data believe lead that establish in As we have mentioned be blood-first clinical for will adoption previously clinical

team the our diligently application of we clinical years on would for kind two and the studies its analytical precision submission. be to approval space support package am has what Today last validity believe our first very have oncology submitted GuardantXXX the and been premarket FDA. that to working and the important the we PMA recently for I and Over happy our a milestone company for for to GuardantXXX announce

also We the by be Medicare final that end believe could a Pan-Cancer of the issued LCD year.

guideline-recommended tumor this a of all genomic represent As Medicare expand the tumor types dozen assay vast types tumors. over could targets. LCD GuardantXXX potentially solid to a cancer advanced the These coverage solid of majority reminder with

sequencing have tumor an draft timely samples. by important with Medicare LCD insufficient treatment towards cancer access beneficiaries of all cancer advanced have or but covered The applies unavailable ensuring guideline-recommended to patients to step who tissue options. for tissue is are advanced next-generation Medicare This

therapies. by are particular increasing to well products our identify our We encouraged patients GuardantOMNI from for biopharma the who and demand respond our in targeted partners GuardantOMNI offers opportunity the immuno-oncology as to agents as partners. may

patients an interest of as inhibitors. to homologous strong exceptionally quarter repair to gene of translated the be revenue across continued class known is may a The growing progress with robust XXX% segment another year-over-year million. who for every For business of therapy our candidates example $XX.X identification with area signatures PARP total growing targeted deficiency of

and volumes XXX% clinical to grew XX% XXXX Over the XXXXX volumes to tests same biopharmaceutical period tests. grew clinical

be XXX% to of we million result $XXX XXXX for now over reflecting range million XXX% revenue to to $XXX the XXXX. of growth progress this in As expect a of

departure call following like Capital. of over would Before our our discuss for Aaref of to Guardant programs to four a Aaref to guidance to from stepped I LUNAR years. AmirAli past take moment the thank the over Hilaly the I to his Sequoia from mention contributions details that and has down want to Directors turn his I Board

over that will With I turn call the now to AmirAli.

clinical we program with monitoring. as decision-making are where Similar in GuardantXXX similarly taking indication Starting to Thanks lead developing and programs. with first lung an our adjuvant recurrence LUNAR-X with starting our for Helmy. a cancer and we focused therapy with our path the commercial are development approach LUNAR assay

believe that long-term is establishing monitoring for clinical evidence in utility component adoption space. recurrence to a the drive critical We sustained

of the utility residual interventional that outcomes. or in this demonstration improvement One patient That will of disease of prospective the lead-time proving clinical challenges detection recurrence is earlier and in be through space trials.

believe reimbursement and that of clinically have We a version and on a clinical will workflows end changing we announce be clinical of establishing trials. our To variety assay very LUNAR-X this for clear to this critical this prospective payers. have launched to I’m pleased assay validated

addition In colorectal cancer are a therapy study interventional future. adjuvant initiate in prospective to the near for planning we selection in

assay believe ECLIPSE LUNAR-X. using available existing our in cancer patient looking advancing registrational Now add diligently in A We’ve weeks the cancer enrollment forward that screening value when the could of tremendous patient average ago tools. assay screening moving blood-based to guidelines-recommend compliance prospective study we screening colorectal risk support program rates the at been to LUNAR-X multi-site where on we study few the the is of adults. colorectal our which announced for introduction designed first our with of

evaluating to to primary detect performance This endpoints sensitivity of neoplasia’s evaluate study’s secondary colorectal screening. color also to objective cancer the This assay LUNAR-X study detection. the assay includes is advanced related specificity the and during

cancer to months plan to in individuals United sites XX Over across colorectal States. the we enroll risk about XX the of XX or aged XXX XXXXX at average next about

knowledge magnitude. this screening our To is this of the first trial blood-based

regulatory CMS. believe And durable encouraged study both the FDA CMS of that clinical with this adoption. are approval will by and FDA assay way long-term early for our are grade Both of successful our and We if which discussions LUNAR-X later pave for coverage. critical

in progress to this rapid there well to about our as gap in reception lives. colorectal the excited We a screening They are known space. landscape for saving very effective agree continue we the important positive is be from is which stakeholders critical as cancer in receive

U.S. to In at XX average screening fact recommends cancer Prevention Services the adults XX. colorectal for age risk continuing Force age and Task starting

clinical unpleasant of established States Yes the time-consuming comply despite are in adults screened invasive. citing and case should current X/X the colonoscopy of in who screening the United evidence methods not about guidelines do be that and

blood look associated fill integral already evidence testing today. is drive clinical the and screening by assay increase test adoption. role reduction test our of Our screening intended barriers could an compliance our play in we blood-based improve assay removing current methods. We to commercially believe with Because the significantly compliance clinical building gap ensure to guidelines adherence to and forward with needed that medicine exists

call turn I to Bertocci more on the detail will our financials. over now that Derek With for Derek?

Thank million quarter. XXXX from you AmirAli. of totaled prior third year quarter $XX.X Revenue the XXX% for in up million the $XX.X

quarter due processed payments to million the denial in payers’ successful XXXX. received for included samples of appeals quarter reimbursement of from Third in revenue $X.X

for clinical drivers ordinary biopharma Given company and revenue does plus the samples Increases volume is of higher in the ASP the volume the revenue. these with successful the increase prime of believe testing appeals this not both in were of associated course operations. age indicative for testing appeals

also Total $X.X appeals third in included from to million million increase and from from contributed the Development up the in quarter in This revenue clinical to totaled was revenue in XXX% million services tests XXX% primarily due prior the ASP. to diagnostic companion prior of oncology revenue. in million quarter $X.X volume the samples. revenue precision up the million third $XX.X period. $XX.X the XXXX $XX.X quarter Precision year year oncology increases programs from both in

third customers by $XX.X from were in plus prior XXXX This Guardant million due prior Precision of volume mainly increase to to biopharmaceutical the GuardantOMNI. clinical XXXX of the from quarter payments Medicare up quarter of to number increases payer oncology reimbursement commercial brought cancer quarter programs oncology the Third of was the in tests quarter. by biopharmaceutical Access in starting Medicare XXXX. million totaled Act in beneficially growth up quarter for affected patients to lung year particularly that the use tests precision due XX% Health revenue totaled Protecting in XXXXX XXX% tests year from in for fourth the $X.X that

totaled up year XXXX XXXX quarter from precision XXX% tests prior biopharmaceutical quarter. the oncology tests Third in volume

in Average due revenue to a year greater biopharmaceutical price from third was quarter of prior a tests higher has recognized selling GuardantXXX test. XX% per up $XXXX the which in the $XXXX than GuardantOMNI number quarter test

active is precision less in companion regulatory-related third the due services of quarter diagnostic the up development for profit oncology biopharmaceutical Development prior mainly and customers of $X.X year increase cost and quarter from cost totaled XXXX development in services. Gross million XXX% an revenue total testing projects services. in from revenue to

third Gross in increase the margin average inclusive of the $X.X tests. during XXXX. of and appeals of the of gross of per to of due third Gross of margin period compared in $XX.X million quarter the million the in The gross year. prior to same $XX.X the was was profit compared third improvement for as revenue quarter million results biopharmaceutical XXXX quarter to benefits primarily XX% the XX% a These profit revenue. are was clinical the

applying January XXXX ASC As X a XXX financial X revenue the the not new that recorded restated to that completed revenue modified Instead using for new is our were accumulated retrospective difference reminder effective as accounting to resulting deficit January means opening standard of from adopted we XXXX in XXXX the reported all which the as accumulated revenue contracts statements. of was adoption not XXXX. standard method

The QX the for effect XXXX to compared the XXXX. increase was to would expenses of results million XXX of disclosed to reported the release. is in million been third quarter million revenue the adoption was million a ASC change for third expense of Total in operating the from $XX.X XXXX. QX XX% quarter million XXX. XXXX third compared $XX.X this in adoption our quarter of third The have $XX.X revenue of of of effect ASC that increase press without by were the $XX.X of R&D $X.X quarter

IVD for quarter and third products. of studies attributable to GuardantXXX primarily compared marketing the to and $XX.X $XX.X of XXXX. were third LUNAR expenses the work and development additional clinical to clinical improvements was the Sales processes the in XXXX million increase program submission studies’ prepare million FDA The to for quarter and the

in of increase expenses were increases compared the The to XXXX. the increases to and personnel primarily third for million third our transition to was professional of accounting increase administrative revenue. support quarter to company. was due in legal due General a the public drive million quarter and commercial organization to $XX.X services and costs including to in expansion This $X.X required

in share cash quarter in $X.XX of cash of corresponding in $XX.X the the – Net Guardant quarter share to was the $X.XX was $XX.X Health’s share composed securities. compared as stockholders per stockholders million prior loss per third year. as million to $XXX.X of in loss Health’s Net XXXX. million period Guardant attributable the marketable XXXX to common of attributable compared common XXXX with third equivalents and We the third to ended quarter per

are we revenue our mentioned updating guidance. Helmy As

we expect year full be in the the revenue to XXXX For

growth to million XXX% million of over of representing $XXX to $XXX range XXXX. XXX%

in $XXX to Our previous expect clinical We previous to now was $XX compared our our $XXX expectation costs be expectations the net samples. volume now our expectations $XXX to the trial to million expect previous range ECLIPSE of to XXXXX million revenue XXXXX approximately clinical million. estimate $XXX of to includes of sample million. start We million in of tests the This with compared of XXXXX $XX for to XXXX million fourth loss clinical XXXX. quarter associated

now up to that it With open Operator? we’ll questions.

Blair. Weinstein first of Our line comes Instruction] [Operator go with William Brian question from the Please ahead.

sort ones adoption what of in Maybe of academic you can from that Brian. what Is just This off compare on the a a of seeing around large or before level had you’re high-level high how with of institutions thought hospitals? you’re the start deepest first is Andrew the that there question IDNs are GXXX actually And sort we penetration? Brackmann to getting in hospitals community where sort does what year? for

Good Yes. Andrew. question

confidence that academic from we’re pretty a with think use NILE centers last for what clinical side. biomarker data on trend seeing expanded the sales liquid quarters seeing seeing we’ve on more actually the force and growth really really community for to similar with I the robust we’re selection shift to a the been with few of giving our to is some biopsy penetration So the of

ago us years now adoption on think right now growth our we’re weighted and is of community expect seeing volume setting. would you of community I about which where is say because that’s about academic been we be in historically the XX% XX% the have And so oncology side. the of the want I And in fastest to just where

guidance. Got it. on And then just one

should think to get of you Derek one the onetime consensus that other are about of sort sort range? then the guys are puts what quarters expectations end takes And in last we we of order about you’ve that payments of and guidance? additional there obviously sort how As sort away in several blown the associated of to the any think low

expectations looking So in think but the of QX forward. about thinking guidance not should any revenue onetime the there that are in about you you excluding be as

had we’re what still the guidance pharma and think is at year expectations that outset the anticipated. that the a activity our that seeing than bringing a of that originally pharma in terms first the of we In happened guidance that we’ve this reminded customers the are prudent than business their the heavier relative We very us in exactly QX more analysts half to We are. robust. indicated in just results. bit and – is our our business we of would be programs of We had we’re to pharma in see terms

ahead. JPMorgan. Tycho go Please And the of with your line next comes from question Peterson

with first guess I but of moved got NCD Palmetto place? the Palmetto quarter. effectively NCD into the you’ve importance is what’s then in the coming I in? Or the year-end the LCD getting finalized actually the in question A mean rolls once that LCD getting

Yes.

look So two as the Pan-Cancer pathways in kind a we of parallel terms Medicare really coverage. of at securing

going is in think for to nice increase able volume. so the it’s secure what largest step terms we optionality ASP the And to to of pathways in both of clinical believe function being I have our be

later FDA we essentially quarter kicking year. The get in approval after LCD believe that probably a NCD of should so believe will we And our the finalized GuardantXXX. this be

think months and submission. from – cycle is review six And I formally so the

on that the well think before the something we certainly would be can NCD. we draw LCD So

there should Helmy progress then coming talk able you of milestones JV quarters with the to the over paying on are Japan are kind to And we be attention there?

there. We continue to progress excellent make

seeing We’re we’re processing Southeast as in Japan Asia. well samples of now thousands as in that

important FDA PMDA. not used joint as it’s U.S. believe bodies regulatory And will so package that in the since our the our internationally data is continues that We progress. good SoftBank such to to submissions venture our other with just but be in make

of is Japan. the factor working And work on for into diligently form activities PMDA team the translating of so required in the some those that

we’re So at with but this I think time probably the nothing specific very there. update to progress pleased

CGP takes genomic at you on stuck then it been XX%. to to just move that’s profiling comprehensive needle Can And what there? around talk the

You mean of terms in penetration into...

Correct. Correct yes.

Yes. can genomic comprehensive It’s estimate range penetration. XX% we of or tissue in what – it’s the terms liquid from in to XX% profiling

therapies markers targeted as X available We patients. cancer recently biomarkers we an PIKXCA cancer. lung are seeing have breast few for updated obviously a I the think now saw just added been NCCN NCCN from for as to more become and option guidelines

so diagnosed the is really needle effort this to newly it’s to that done multifactorial ensure at the going setting. And for the I to patients profiling metastatic first-line take think genomic comprehensive move

And whole so that think and putting market are move the all into we’re seeing companies needle as move. space that well. and and the we really is good effort I the it’s just selling not that news pharmaceutical us the it’s helping there that are And is are that seeing

yes that’s So very moving we’re to in direction. confident right that the going continue

hop one I Okay. And then follow-up before off.

come focused to there’s with a on your SoftBank your them you mentioned interactions? people in to before. talk dialogue Obviously their ownership. back of You’ve lot able to a are Are fear market. they’ll Obviously

about we investors can our everyone can’t tell and think is prospects But general. you in on this Guardant holdings comment the future any I in I individual very at Board positive space. level

with Doug Please question go next comes your And ahead. from of line Cowen. the Schenkel

the answer the submitted this these quick for on to yes And both to will what one the to a just any FDA officially the label the pan-cancer pursuing like submission sounds process? you without expectation Tycho’s package. is but support questions the follow-up just is It of insufficient Maybe PMA tissue? to you FDA based that dual-path a on to are confirm the requirement of

really can’t So I hear.

our on order NCD. we GuardantXXX matches interaction for parallel agencies we cycle don’t coverage NGS had We with that the approval regulatory the believe review FDA So by criteria that really the label FDA the need final the been that in changes draft really NCD. get like a regarding have NCD what NGS we there to on tissue it coverage label There’s CMS not separate the current language FDA need policy is we didn’t from of And can or that’s based some insufficiency for impact tests. in which benefit to our go to recent on believes the and just Palmetto post-approval. and current through get from

squarely So really the to comment tissue. on NCD around impact of it’s

Okay.

helpful. that’s Okay

So Nike quarter had efficiency call force? fronts and especially special great and through there? side growth. execution this another on on year-over-year you where clinical was to really and sales out follow would multiple the expanded is the Anything continued Or say clearly great I on sequential with the just this more

Yes.

really from continuing benefits we’re get the market have going And see some to have require the as should to approval. sales belt soon so it’s have the really think FDA hopefully that think on. our with of LCD pan-cancer force three pieces. we’ve the reimbursement. I I communicated to we we’ll catalysis Not But to so expansion then only with past from do submission under and we this FDA in the NILE

kind of in patients. becoming I But comprehensive of where the is news something probably cancer of – think the advanced clinical is to is is a and profiling swimming better-than-expected that have some advance seen so uplift I those river in genomic flowing more been for requirement speak more think we so factors. we’ve we’re And good

way. physicians is in get information for Our the really to test quickest GuardantXXX the way simplest the

investments have innings market that And some obviously so we here. is think the early opportunity seeing the what of made we’re large of a the but in I fact you’re

missed Okay. I the lives. update That’s have heard if great. it. remarks One don’t last covered apologize missed Again I one. this on think but prepared I may in I I any

million guys XXX were quarter. this around at last I Any think you update point?

plans small and time. add say to would here update this plans continue substance But there. at no We I

go line of next question Bank ahead. from Derik with comes the Bruin of your America. De Please And

A questions. on in nine-month us submitted how so assuming six- it sense you take couple to range? that to GuardantXXX to PMA hear give One I’m of will can great you it’s of timing a long FDA that the

GuardantXXX through review this months. like with review Having cycle two-quarter kind like may So review to the breakthrough designation and instead see go terms that you and the they questions of nine us. cycle from forth we goes for of be have going for that a process months FDA have in agency be different that said six and have it’s and of device it’s how back to

designation would As it about typical there typically we approval. be for a make six more obvious more for us as time time for line I the months. FDA become breakthrough progress what would But line mentioned is device

the have ECLIPSE sense the enrolling out? a analyzing just down everything first go of data couple to the and guess months’ you on have locked assay when And coming of now XX – now? of is I from time. Great. any started first would And already bucket questions as ready study and on you of – sort

Yes.

the review the we submit study actually really shorter the the bit could to run and XX since have than to approval So FDA to study for months is we is going the once a a them package with are that have take PMA us. be the PMA of with little designed for we the regulatory evidence And grade getting ECLIPSE maybe samples up that. enrollment plan hope

In the mentioned data terms same thing. technology that the pilot same in like the of thing presented is basically assay assays we our earlier we is the

of middle that development IVD the which of a IVD in assay just assay. means product of are making version that We

tie lifetime order technology process of GuardantXXX of some of version. and IVD to some the in through ends go get it made and we loose GuardantXXX have the for Similar version process have at you the IVD then to once we kind

– we a And So the the run we time those IVD easy to version lines ready to that time are the assay lot patient ECLIPSE last believe of of in can And the have process it. but we in. samples. meet doing till we we’re

this R&D of Can was quarter And too was – when you I just final both guidance I my actually Great. Derek. my sort say was – my those on way the for was too way trajectory then My R&D for sort my of And one way question give this quarter OpEx us low too of high. high SG&A modeling. some lines?

So assuming our can guidance continue see activity. grow as we’re you that with our to we

think I both which the in So a baseline QX has there you now to use we and be continue if as started increases R&D would trial as program pursue the development enrolling. LUNAR clinical

So we see expect modest try as and We that should also efforts would continuing increase there. reps be increase increases go and and to up. to to some our some sales are adding our on will we there efforts marketing

increase in the R&D. be would I think bigger

your the And with ahead. from question Genuity. of Massaro Please comes next Mark go Canaccord line

XX? you I size a Sciences But XX how up enrolling lower market the address the given recognize age subtle my but and any for nuance screening. CRC it’s on answered that the great commentary the And believe one a age Congrats quarter. potentially I at XX. XX market. may XX cutoff is Exact future? beginning just this nuance of do age A you questions is subtle ECLIPSE to whether a XX lot and around have patients already of looking in of age been or of is have

that the XX so we applicable evidence very at it. to study scope to that. after that are Yes trying the it ECLIPSE start comment for FDA design of this additional with we to and believe we’ve study cannot with looking the stay study the do companies reasonable doing not is something paving the details of actually on moment. the for we PMA XX would consultation they’re and put – path of actually was for which getting be FDA goal the at the is why a the together on solid other So for

No. target. a It’s also it’s moving –

so health have of a believe age think view. point of on different and they different from of You beneficial groups recommendations see many terms of agencies viable the in and and is kind population what I

continue moving And that’s so be something probably I that’s to going a think to target.

something continue I the that going think we’re evolves to space track. as and to

Great. on obviously about the And you’ve for validation LUNAR-X clinical use. research then talked

initiating clinical to colorectal You LUNAR-X to monitoring? also for in cancer. clinic trying with guess And cancer the I’m do initiate about monitoring the when to launch study the you adjuvant intend get at I a expect really talked initially? you prospective do for colorectal is what

So as residual disease types we mentioned there minimum needed outcome looking that we done that’s the at in some different clinical the be work generate show to additional believe to – are data at utility really remarks cancer would in patient benefit.

what patients. in early is the find testing made to this that’s for prospective on do decided tests show right team still initiated outcome We are progress it’s our which what and believe in have to the be of the the and terms a clinical this giving markets step we blood differently version clinical-grade something assay the benefit a would on next comment. for clinical patients with access to we our of We the very excited development major interventional study based on

with maybe think we CGP your And a only about least made side Great. one really I know there there a is XX% other roughly But as significant force sales the year. commercial lab spend in penetrated out large at you’ve market company I on your think with opportunity two you in today? of sales efficient. see update obvious But just forces. an on your give can do XXXX? U.S. the And sales sales one make size force or an us is force some It’s additions to extremely larger you maybe existing this

Yes.

see efficiency step of just about tell and you It’s of all I’ll back and take I in kind maybe terms rep. we think the have. number per right – the revenue a and continuing philosophy to

think as so it gains as I in multiple think to doing about long we going we we’re the force productivity way waves continue And expand to continue to is sales see the we be as that.

additional And around sought we waves. of we terms and marginal range rep the in close see add million contribution essentially $X that’s to that ASPs to to basically want per as

terms about really think we’re sales to co-promotions aggressive but of to whether all it’s digital adding not account marketing marketing with I and in different be our So terms to team executives it’s going of the thinking just continue whether of in other organizations. channels

think those I those aggressively different growing they can and investing evaluating be avenues different we’re accretive. in where all – and them of all

Great. me. And one the last for

like Your for to do AstraZeneca can growth. diagnostics? you interest for think about a triple-digit instance? what you outstanding deals sense maybe Can funnel of pharma give talk about XXXX volumes with we your As similar us were you companion the have

extremely looks strong. pipeline the So

a lot interest get about as able quickly able for drugs and having patient We they’re adoption today behind being it’s there of and they partners FDA for fact those platform We’re when our - gives used leverage for their being running a to that already only work. care when start patients possible. of that the in GuardantXXX and thinking being certainly GXXX to out as seeing really think tested us approval it’s is accelerate going drugs companion diagnostic to the interest

So think robust continues to is grow that month. pipeline a very we seeing just I are and really every

comes ahead. Please Leerink. question the Puneet of from final line go your And SVB Souda with

trial should where that potential naive you versus us all. – when of ,And a naive expectation first of well? LUNAR-X here give one adjuvant adjuvant times what’s can the could these and in in the can AmirAli if around Helmy if as you trials size And are a quarter partnership of readout? a My LUNAR first sort us here we on unique metrics question as And the that that trial could market the expect only is reduction the here can also this adjuvant congrats you tumor us , on assay you is reduction in give you the we the what point just some for in most – term? on the tumor-informed assay approaches near what’s seeing where about be beneficial? your remind if biopharma highlighted tumor

sure. Yes

lot LUNAR-X So soon we information could going more our stay told hear of stay very we about partners about our you’re going and very through have tuned announcements clinical and this Please hopefully please going tell right we partners. now. this details that soon actually tune some you have to excited very I LUNAR-X. interesting wish some the study I to are of validation other are more enrolled although study but a you’re more with But about you cannot prospective of

think We is why? our of product better. terms In

epigenomic much assays information and In we signatures LUNAR-X looking general methylation for mutation about test we no lot somatic are in you prior and looking of mutation tumor. fact that somatic having terms at LUNAR mutation a our the terms mutation and with blood And at somatic performance. are of just of the in a variation adding we in opportunities are better altogether. But in gives specifically epigenomic

I personalizing assay tissue think And generates now logistical I tumor challenges of of least could on of based an perspective. that what the from an add finding and old at tumor find if you lot our which kind you imagine on logistical a challenges

and when epigenomic are excited we are very about mixing performances so that genomic far seen doing signals. we’ve We are what we the

centers the growth oncologists you newer commercial a that clinical and force prior Can And in to Okay. you centers have? on of strong force sales terms or elaborate that sales the you add newer versus the tests And stand I growth currently or of if expectations community you’re can obviously on could drive continue very that where of versus getting from existing ask more new of centers setting the mix you the you’ve had? and with here.

Yes.

commented in we tremendous as earlier we’ve the think certainly growth I seen setting. So community

volume. of in communities terms about XX% We’re now our

I We same a of think seen physician also have in sales. terms good growth fairly

of a despite or us test that have oncologists five we’re adding ordered still per are also month new we of years many oncologists really being seeing repeat continuing we’re and four post-commercialization use so the record grow GuardantXXX but at thousands And pace.

penetration market And so are the signs terms clinical see I oncology think of in growth we’re seeing across of want robust really which the to clinical metrics you into those X least signals at continued market.

overall? you biopharma really – are seeing here Are OMNI menu broad so conclusions features could utilizing could the been feedback they seen for on XXX there And be Okay. if about – it sort and than ask mainly so I sort what’s those that and talk is rather have the around data the more on or and genes of my among TMB seems if of of demand from features? you question far. questions we biopharma And TMB the to specifically

a your overall? You point. on have What’s unique view vantage TMB

Yes.

than see been or on burden. proteins think biomarkers tumor I We around lot using information an using certainly and there’s continuum flow mutational and single along to a So to to single genomic shift ebb one more step using TMB that. do segment as so a and patients paradigm a

approach is approach shakes precision TMB – puck So think is that where where regardless certainly I is medicine-informed approach that of the is the genomic-informed something or certainly out heading.

PARP pretty I think genomic complex for in things need like so repair mentioned we for information homologous And inhibitors. remarks you our deficiencies as prepared

immuno-oncology a really interest I from becoming GuardantXXX are swing markers lot seeing that to of both the the seeing forward. backs as aggressively happens kind pendulum in of nice to and offer development think outside picture of – we’re of We’re seeing move what is which sides spot now of well a targeted vogue development therapy the sweet drug really of kind really

lot a the competition seeing space. We’re in more

And biopharma to OMNI competitive really terms assets can can be lot able about to be much as think drugs that possible. a really that so as they partners in they that and understand our can Guardant of where And their their I fits so that’s of information as being useful. as want provide

like the to remarks. at Helmy questions turn for now Eltoukhy would closing further to I no time. showing this back I’m conference And

at and our again again forward you thank earnings we next call. look Thank Well you. talking to