Business
Personalis Reports Fourth Quarter and Full Year 2024 Financial Results
Full year revenue of $84.6 million represents a 15% year-over-year increase Cash balance of $185 million expected to provide runway to cash flow break-even
About this update from Personalis, Inc.
[{"type":"text","content":"\nFull year revenue of $84.6 million represents a 15% year-over-year increase\n\n\nCash balance of $185 million expected to provide runway to cash flow break-even\n\n\n FREMONT, Calif.--(BUSINESS WIRE)--\nPersonalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for precision oncology, today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided recent business highlights.\n\n\nRecent Business Highlights\n\n\n\nDelivered 1,441 total molecular tests in the fourth quarter of 2024, an increase of 52% compared with 945 tests delivered in the third quarter of 2024; delivered 3,285 total molecular tests for the full year of 2024 compared with 177 in 2023\n\n\n\nSubmitted for Medicare coverage in early-stage breast cancer\n\n\n\nCollaborators have submitted manuscripts for publication in peer-reviewed journals for all three Personalis focus indications in breast and lung cancer and IO monitoring, with breast cancer accepted for publication\n\n\n\nExpanded the number of clinical studies in progress to over 20\n\n\n\nRaised $50 million with Merck Sharp & Dohme LLC (“Merck”) in a direct investment transaction\n\n\n\nSigned a multi-year extension with ModernaTX, Inc. (“Moderna”) to utilize ImmunoID NeXT for V940/mRNA-4157, an investigational individualized neoantigen therapy (INT) being jointly developed by Merck and Moderna\n\n\n\nExpanded the commercial agreement with Tempus AI, Inc. (“Tempus”) to authorize Tempus to sell NeXT Personal® to pharmaceutical and biotechnology companies\n\n\n\n“In 2024, we executed very well and are starting 2025 confident our strategy is working and we will ‘Win in MRD,’” said Chris Hall, Chief Executive Officer and President. “We expanded our partnership with Tempus, presented compelling clinical data at Medical Conferences, and drove testing growth 52% quarter over quarter ending the year with 1,441 molecular tests in the fourth quarter. Also, we announced a long-term commercial collaboration with Moderna and a strategic investment of $50 million from Merck, endorsing our technology platform and capabilities to support our partners’ initiatives, and providing a pathway to cashflow break-even.”\n\n\nFull Year 2024 Financial Results Compared with 2023\n\n\n\nRevenue of $84.6 million for the full year of 2024 compared with $73.5 million, an increase of 15%\n...