Slide 1: Business Update and Third Quarter 2020 Financial Results
Business Update and Third Quarter 2020 Financial Results November 9, 2020 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical fa
Slide 3: Q3 2020 Progenity Corporate Highlights
Q3 2020 Progenity Corporate Highlights Grew total tests 12%; reported ~84,000 tests in Q3 2020, mostly from COVID-19 testing. Continued expansion of COVID-19/SARS CoV-2 diagnostic testing to broader geographies within our channel to support unmet need. Continuing improvements in revenue cycle manage
Slide 4: Test Volumes: 2018 – 2020 (YTD)
Test Volumes: 2018 – 2020 (YTD) Strong History of Volume Growth Cumulative Quarterly Test Volume (Thousands) Q2 2020 Q1 2020 22% Q3 2020 79 75 84 +12%
Slide 5: Volume Growth Surpassed Q1
Volume Growth Surpassed Q1 Monthly average volumes grew 12% in Q3 primarily from Covid testing Continued progress in Q3 toward recovery and growth Resilience in NIPT demand, supporting carrier screening demand Launch of new carrier test panels growing rapidly Demand for SARS CoV-2 tests increasing;
Slide 6: Expanding the In-Network Footprint
Expanding the In-Network Footprint New Multiplan contract; 60M health plan members have access to Multiplan services Added 1.5 million regional plan covered lives in Q3 Aetna covering average risk NIPT through end of 2020 Centene, Humana and some state Medicaid plans also began covering NIPT for ave
Slide 7: R&D Pipeline Update
R&D Pipeline Update
Slide 8: Achieved an important analytical verification milestone
Achieved an important analytical verification milestone Constructive FDA pre-sub meeting for IVD test version Brand name determined Preeclampsia R&D day on November 20, 2020 An Important Analytical Verification Milestone Achieved Source: Progenity internal study Preeclampsia Rule-out LDT Test: One S
Slide 9: Innatal 4: Innovating Next-Generation NIPT
Innatal 4: Innovating Next-Generation NIPT COST EFFECTIVENESS QUALITY RESULTS Maintain premium clinical value and reliability FASTER TURNAROUND TIME Set a new competitive benchmark in the market Cost effective workflow improves COGS Q2: Achieved a key development milestone enabling measurement of fe
Slide 10: Expecting preclinical study with first fully autonomous device in Q4 2020
Expecting preclinical study with first fully autonomous device in Q4 2020 Progress continues under current pharma partnership OBDS oral biopharmaceuticals ORAL DELIVERY FOR SYSTEMIC BIOPHARMACEUTICAL DISTRIBUTION Adalimumab (PGN-OB1) GMP batch produced Emerging drug pipeline Announced successful com
Slide 11: PIL Dx ingestible fluorescent laboratory
PIL Dx ingestible fluorescent laboratory On track to initiate clinical proof of concept study in Q1 2021 LOCALIZATION à SAMPLING à PRESERVATION à RECOVERY à ANALYSIS Microbiome, cells Multi-omics Multiple GI diseases ACG Abstract Award/Oral Presentation: Clinical study demonstrating successful local
Slide 12: Third Quarter Financial Results
Third Quarter Financial Results
Slide 13: Resilient Demand Reflected in Q3 Revenue
Resilient Demand Reflected in Q3 Revenue Q3 revenue reflects continued In-Network and revenue cycle management transition INN transition expected to generate gradual improvement in reported revenue Operational improvements further enhance revenue potential 1. Includes $10.3M accrual for refund reser
Slide 14: Financial Overview
Financial Overview $ in millions ©2020 Progenity, Inc. All rights reserved. Q2 2020 Q3 2020 YTD 2020 Revenues $17.3 $25.9 $60.0 ASP ($/test) 230.2 308.6 252.4 COGS 21.8 23.6 72.0 SG&A 29.9 33.9 95.3 R&D 12.2 13.0 36.5 Net Loss (53.1) (47.1) (117.3) Operating Cash Flows (13.5) (51.3) (95.7) Cash & Ca
Slide 15: Innovation Pipeline Milestones & Value Drivers Q4 2020 – Q1 2021
INNOVATION PIPELINE MILESTONES & VALUE DRIVERS Q4 2020 – Q1 2021 Expand testing menu within Women’s Health channel STRATEGIC SIGNIFICANCE Increasing differentiation of OBGYN/MFM Business Accelerating revenue cycle enhancements Dx business generates recurring long-term cash flows In-network coverage
Slide 16: Q&A Session
Q&A Session