Natera, Inc. · NASDAQ:NTRA
Natera — 43rd Annual J.P. Morgan Healthcare Conference 2025
22 slides from Natera's conference presentation, Jan 15, 2025
Slide 1: Natera, Inc. Investor presentation
Natera, Inc. Investor presentation J.P. Morgan Healthcare Conference January 15, 2025
Slide 2: Safe harbor statement
Safe harbor statement This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our market opportunity, our a
Slide 3: Our mission: Transforming the management of disease worldwide
OUR MISSION Transforming the management of disease worldwide Not for reproduction or further distribution.
Slide 4: A leader in cell-free DNA technology addressing large, underpenetrated markets
A leader in cell-free DNA technology addressing large, underpenetrated markets tests >12M processed 2013 2019 PanoramaTM NIPT launch peer-reviewed >250 publications ONCOLOGY issued or >485 pending patents WOMEN’S HEALTH ORGAN HEALTH ~4,400 employees *NOTE: All numbers are as of Dec. 31, 2024. 3 Not
Slide 5: Formula for success
Formula for success Leading-edge technology and constant innovation Leader in peer-reviewed, published clinical data Excellent customer/patient experience Broad and talented commercial teams 4 Not for reproduction or further distribution.
Slide 6: Volumes continue to ramp: Q4 growth of ~26%
Volumes continue to ramp: Q4 growth of ~26% 900K Core Volume Drivers ~ 793K 800K • Record quarter for flagship Panorama, 700K 26% 627K ProsperaTM and 600K 560K SignateraTM 500K 439K • New features and data 400K in Women’s Health 295K 300K 200K • New data and guidelines driving organ health 100K K •
Slide 7: Total revenues jump 52% from Q4'23
Total revenues jump 52% from Q4’23 Total revenues: last 6 quarters $500M Total revenues: YoY Q4 trend ~$472M $500M ~$472M $450M $450M $440M $400M 52% $413M $400M $350M $311M $368M $300M $350M $250M $217M $311M $200M $173M $300M $150M $268M $112M $100M $250M $50M $200M $M Q3'23 3Q’23 Q4'23 4Q’23 Q1'2
Slide 8: Generated roughly $46M of cash flow in Q4
Generated roughly $46M of cash flow in Q4 • Executing the strategy: 1 cash flow improvement driven Trend for quarterly cash outflow / cash inflow 1 ~$462 ($ in millions) $35 by continued revenue growth, improving gross margins, and 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 $3 $3 stable operating expen
Slide 9: Portfolio / Innovation Update
Portfolio / Innovation Update 8
Slide 10: Signatera clinical units jump up ~15K units in Q4
Signatera clinical units jump up ~15K units in Q4 Signatera clinical tests processed 160K ~15K ~ 145K 140K 130K 120K 118K 106K 100K 91K 81K 80K 72K 61K 60K 52K 40K 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 9 Not for reproduction or further distribution.
Slide 11: Signatera first mover advantages
Signatera first mover advantages Market access & Laboratory & Innovation & Clinical data reimbursement customer experience Intellectual Property • >100 peer-reviewed • Broad Medicare • Fast TAT, mobile • Cutting-edge test publications to date, coverage with CRC, phlebotomy, portals, performance in t
Slide 12: Unparalleled data leadership in oncology
Unparalleled data leadership in oncology Cumulative peer-reviewed oncology publications Key Signatera readouts 140 120 GALAXY 100 80 CALGB (Alliance)/SWOG 80702 60 The ‘702 Study 40 20 IMvigor011 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 11 Not for reproduction or further distribution.
Slide 13: ASCO GI oral presentation: '702 randomized, phase III CRC trial
ASCO GI oral presentation: ‘702 randomized, phase III CRC trial First-of-its-kind analysis from CALGB (Alliance)/SWOG 80702 trial of >1K patients. Selected as late-breaking, oral presentation for ASCO GI (presentation on Jan. 25, 2025). Study Highlights Study Schema • Pre-specified analysis of CALGB
Slide 14: Signatera using multiplex PCR (mPCR)
Signatera using multiplex PCR (mPCR) Signatera is the most widely used and validated MRD test to harness the benefits of multiplex PCR (mPCR) Sequence tumor tissue Custom-design mPCR assay for Sequence the targets at very high to identify unique signature each patient, targeting the top depth over 1
Slide 15: Introducing Signatera, developed on Genome
Introducing Signatera, developed on Genome Same, proven mPCR method Same principle: deep, targeted and efficient Detection in ultra-sensitive range (low single-digit PPM) Natera is well-positioned to establish clinical significance Leverages Natera’s commercial & operational infrastructure IP with e
Slide 16: Introducing tissue-free MRD for CRC, followed by other tumor types
Introducing tissue-free MRD for CRC, followed by other tumor types • Unparalleled experience processing early-stage tumor samples Extensive in-house • Leverage this along with plasma to do extensive biomarker discovery discovery • Evaluated many novel targets • Training/testing on >800 samples Rigor
Slide 17: Complete product portfolio for MRD detection
Complete product portfolio for MRD detection Tumor-informed Signatera Signatera Tissue-free designed on Exome designed on Genome MRD (CRC) • Most extensively • Informed by • Now available for validated, adopted, Signatera clinical data research use and reimbursed MRD • Now available for • Clinical a
Slide 18: Early Cancer Detection (ECD): leveraging Natera's extensive experience in assay development
Early Cancer Detection (ECD): leveraging Natera’s extensive experience in assay development Unparallelled sample access enables deep discovery Biological • >250,000 tumors sequenced across all stages 1 enables deep biological understanding of disease depth • Novel platform developed over 2 years 2 D
Slide 19: ECD: clinical validation strategy
ECD: clinical validation strategy CIRCULATE-CRC PROCEED1-CRC FIND-CRC Goal: establish clinical performance Goal: establish clinical Goal: clinical validation in screening population performance in CRC & PMA submission (FDA lead-in study) 5K confirmed CRC cases with Target 3K complete participants ~1
Slide 20: ECD: performance
ECD: performance Analysis Independent training and Overall Performance testing cohorts Screen-Detected Performance 95.2% Sensitivity1 (Asymptomatic Screen-Detected) 432 prospective samples from CIRCULATE and PROCEED 91% Specificity 127 CRC Cases 91.4% Sensitivity1 • 34 screen-detected stage I-III CR
Slide 21: ECD: future readouts with PROCEED-CRC samples
ECD: future readouts with PROCEED-CRC samples Advanced Adenoma Performance Screen-Detected Performance Study Goal: Initial performance evaluation Goal: establish clinical performance of AA assay in screening population (FDA lead-in study) • 50+ AA samples collected pre-colonoscopy • 100+ AA samples
Slide 22: Potential future catalysts
Potential future catalysts Data read outs: ‘702 study, IMvigor011 Investments in R&D and infrastructure expansion Women’s Health product launches Continued growth in ASPs and volume New guidelines and coverage decisions Milestones toward Signatera coverage in Japan Not for reproduction or further di
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