Guardant Health, Inc. · NASDAQ:GH
Guardant Health — William Blair 43rd Annual Growth Stock Conference 2023
26 slides from Guardant Health's conference presentation, Jun 6, 2023
Slide 1: Transforming Cancer Care
Transforming Cancer Care William Blair Growth Conference June 6, 2023
Slide 2: Safe harbor
Safe harbor Certain statements in this presentation and the accompanying oral commentary are forward-looking uncertainties, many of which are beyond the Company's control. These and other important factors may statements within the meaning of federal securities laws. These statements relate to futur
Slide 3: Pushing the boundaries of cancer diagnostics with blood-based testing
Guardant Health is pushing the boundaries of what is possible in cancer diagnostics with blood-based testing
Slide 4: Guardant Health Liquid Biopsy Platform unlocks multiple dimensions of cancer signals in blood
Guardant Health Liquid Biopsy Platform unlocks multiple dimensions of cancer signals in blood Cutting-edge proprietary components Novel Next-generation AI-powered Patient biochemistry sequencing techniques bioinformatics report 500+ worldwide patents and applications 4 4
Slide 5: Targeting some of the largest addressable market opportunities across the continuum of cancer care
Targeting some of the largest addressable market opportunities across the continuum of cancer care Recurrence Therapy Selection Screening Monitoring / MRD TM Therapy selection and monitoring for Surveillance for cancer recurrence Early detection of cancer for over 700K advanced cancer patients for 1
Slide 6: Strong record of execution
Strong record of execution Guardant360 covered lives 300M+ ~ 49% CAGR $ 374 M $ 450 M Cumulative tests ordered 400,000+ $ 287 M Current ordering oncologists $ 214 M 12,000+ $ 91 M Active biopharma partnerships 2018 2019 2020 2021 2022 150+ Annual Revenue 6
Slide 7: Therapy Selection
Therapy Selection
Slide 8: Therapy Selection: comprehensive portfolio with four Medicare-reimbursed precision oncology tests
Therapy Selection: comprehensive portfolio with four Medicare-reimbursed precision oncology tests Next-Generation 1st Blood-Only Liquid Next-Generation 1st FDA-Approved Liquid Biopsy Assay Biopsy to Monitor Tissue Assay Comprehensive Liquid Biopsy Therapeutic Response Reimbursed by Medicare 8
Slide 9: Therapy Selection led by Guardant360 with multiple growth drivers
Therapy Selection led by Guardant360 with multiple growth drivers Clinical Biopharma ✓ Continued Guardant360 adoption main driver of 45% ✓ Continued ctDNA leadership with >150 biopharma YoY clinical volume growth in Q1 2023 in clinical partners since launch volumes ✓ Guardant Infinity continues to e
Slide 10: Continued payer coverage expansion for Guardant360 franchise
Continued payer coverage expansion for Guardant360 franchise ✓ New commercial plan coverage from United, ✓ Medicare coverage for Guardant360 Response Anthem Blue Cross and Blue Shield, Aetna and Humana ✓ First blood-only liquid biopsy test for monitoring molecular response to immune checkpoint inhib
Slide 11: Recurrence Monitoring / MRD
Recurrence Monitoring / MRD
Slide 12: Recurrence monitoring / MRD: a larger blockbuster franchise in its early innings with Guardant Reveal
Recurrence monitoring / MRD: a larger blockbuster franchise in its early innings with Guardant Reveal Exponential launch trajectory $20B US market in early development >100% YoY clinical volume growth in Q1 2023 ✓ 15M cancer survivors, multiple tests per year1 ✓ < 50% of cancer survivors can be acce
Slide 13: Smart Liquid Biopsy: a quantum leap forward
Smart Liquid Biopsy: a quantum leap forward Powerful new applications Smartphone Powerful Clinical Sufficient computing Applications power + mobile Cellular phone Smart Liquid Biopsy Liquid Biopsy 13
Slide 14: Screening
Screening
Slide 15: Screening: breaking the CRC screening barrier with a preferred and accessible option for 120M individuals
Screening: breaking the CRC screening barrier with a preferred and accessible option for 120M individuals Successful screening requires both adherence and performance 1 120M Avg Risk Individuals Ages 45 – 85 Adherence Colonoscopy FIT Cologuard 2 3 4 42% 43% 65% 71M Screened Individuals5 49M Unscreen
Slide 16: ECLIPSE enrollment reflective of diverse US population
ECLIPSE enrollment reflective of diverse US population Clinical Validation Cohort Evaluable Subjects Characteristic (N=10,258) (N=7,861) ECLIPSE: Enrolled >20% of participants identifying Age (years) as non-white, mirroring the US population1 Mean (SD) 60.6 (9.13) 60.3 (9.14) Min, Max 45, 90 45, 84
Slide 17: ECLIPSE met co-primary endpoints
ECLIPSE met co-primary endpoints CRC Sensitivity Specificity Guardant Reveal powered by Smart Liquid Biopsy 83% 90% N=65 These results are in range with other guideline recommended non-invasive screening modalities, where overall sensitivity ranges from 74-92%. 17 17 Chung, et al. Digestive Diseases
Slide 18: Stage-specific CRC sensitivity
Stage-specific CRC sensitivity Stage I – III Sensitivity: 81%# 100% 100% # Excludes 3 lost to clinical follow-up (2/3 detected) 72% Sensitivity (%) Localized Regional Distant Stage I/II Stage III Stage IV Stage I* Stage II Stage III Stage IV 55% 100% 100% 100% (12/22) (14/14) (16/16) (10/10) *Assume
Slide 19: Shield: potential to have high impact on CRC screening
Shield: potential to have high impact on CRC screening CRC Sensitivity1,2 Patient Adherence Rates3-9 (From Literature) (From Literature) Shield Blood Test 83% 85-96%10 Colonoscopy 95% 28-59% FIT Stool Test 74% 43-65% Guardant Reveal powered Multitarget Stool DNA Test by Smart 92% Liquid Biopsy 48-71
Slide 20: Blazing a trail to the first FDA approved and reimbursed multi-cancer test
Blazing a trail to the first FDA approved and reimbursed multi-cancer test Filed Published Launched ECLIPSE PMA staging data Launch Shield Medicare & ACS USPSTF Shield LDT Readout with FDA at DDW IVD-CRC ADLT Status Guidelines Guidelines May 2022 4Q’ 22 1Q’ 23 2Q’ 23 2024 2026 CRC Drives ADLT Pricin
Slide 21: Financials
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Slide 22: Strong revenue growth in Q1 2023
Strong revenue growth in Q1 2023 First Quarter Revenue +34% 34% YoY revenue growth led by Guardant360 with $129M robust growth across the business $96M Focus on execution, operations, customer service Seeing benefits of platform investments around customer experience Breast CDx and payer coverage ex
Slide 23: Reduced operating expenses and cash burn in Q1 2023
Reduced operating expenses and cash burn in Q1 2023 Non-GAAP Operating Expenses Free Cash Outflow $201M $101M $188M $8M* $82M $6M* $180M $76M Q4 22 Q1 23 Q4 22 Q1 23 (unaudited) (unaudited) *Severance costs related to Q1 2023 workforce reduction Non-GAAP operating expenses exclude stock-based compen
Slide 24: Recent successful equity offering extends runway to reach cash flow breakeven
Recent successful equity offering extends runway to reach cash flow breakeven Five Year Capital Allocation Assumptions Therapy ✓ On-track for breakeven in 6-9 months • Pro forma cash $1.3B* following Selection ✓ Therapy selection will generate positive operating cash flow from recent equity offering
Slide 25: Key 2023 milestones transforming the continuum of care
Key 2023 milestones transforming the continuum of care Core Business Drivers Therapy Selection CMS reimbursement for Guardant Response Ongoing rapid deployment of EMR customer integration Guardant360 reimbursement in Japan Exceed 200M covered lives for TissueNext Pipeline Catalysts MRD / Recurrence
Slide 26: Guardant
(@) GUARDANT
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