Slide 1: Business Update and Second Quarter 2020 Financial Results
Business Update and Second Quarter 2020 Financial Results August 13, 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: Progenity: precision medicine across women's health, GI and ingestible technologies
©2020 Progenity, Inc. All rights reserved. WOMEN’S HEALTH GI PRECISION MEDICINE INGESTIBLE TECHNOLOGIES in development in development PRECONCEPTION/PRENATAL innatal® prenatal screen preparent® carrier test resura® prenatal test for monogenic disease riscover® hereditary cancer SARS CoV-2 RNA diagnos
Slide 4: Q2 2020 Progenity Corporate Highlights
Q2 2020 Progenity Corporate Highlights Reported ~75,000 tests in Q2 2020, demonstrating resilience despite stay-at-home orders during that period. Implemented COVID-19 operational plans, maintaining pre-pandemic turnaround times. Launched SARS CoV-2 diagnostic test to support unmet need. Secured ~$1
Slide 5: Strong History of Volume Growth
Strong History of Volume Growth Strong History of Volume Growth Cumulative Quarterly Test Volume (Thousands) Business resilient in the face of COVID-19 Volume growth slowed in March 2020 due to stay-at-home orders Gained momentum in late Q2 2020 ending the quarter on an upward trajectory Q2 2020 Q1
Slide 6: Volume Showing Signs of Recovery
Volume Showing Signs of Recovery Signs of growth and recovery in June demand Implemented enhanced digital sales capabilities and patient support during stay-at-home orders NIPT showing signs of demand resilience Carrier screening demand supported by joint offering with NIPT Demand for SARS CoV-2 tes
Slide 7: Capturing Benefits of In-Network Coverage
Capturing Benefits of In-Network Coverage Added 34 million covered lives for a total of ~144 million covered lives Aetna covering average-risk NIPT through end of 2020 Progenity could have realized ~$10M in additional revenues in Q2 if average-risk NIPT were covered broadly by payors, based on our p
Slide 8: R&D Pipeline Update
R&D Pipeline Update
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 Achieved a key development milestone enabling measurement of fetal
Slide 10: Preeclampsia Rule-Out Test: Innovative Test to Address Unmet Need
Preeclampsia Rule-Out Test: Innovative Test to Address Unmet Need Differentiates between hypertensive disorders of pregnancy Rules out preeclampsia in symptomatic patients Goal: improve patient outcomes and lower cost burden to patients and the health system Henderson JT, et al. Preeclampsia Screeni
Slide 11: Preeclampsia Rule-out LDT Test Advancing Toward Targeted 2021 Launch
LDT Verification: ~400 patients Analysis underway, advancing toward Q4 2020 results Sample collection complete LDT Validation: ~1,600 patients Targeting mid 2021 read-out Sample collection complete LDT Targeted Launch: H2 2021 IVD: Filed pre-sub with FDA; secured Oct 2020 meeting LDT Optimization Pe
Slide 12: GI Precision Medicine Programs: Oral Biotherapeutics
Significant progress in readiness for preclinical studies with fully functional autonomous prototype devices Expecting first animal PK data in Q1 2021 Entered into first collaboration with major pharma for clinical-stage asset OBDS oral biopharmaceuticals ORAL DELIVERY FOR SYSTEMIC BIOPHARMACEUTICAL
Slide 13: PIL Dx ingestible fluorescent laboratory
PIL Dx ingestible fluorescent laboratory On track to initiate clinical proof of concept study in Q4 2020 LOCALIZATION à SAMPLING à PRESERVATION à RECOVERY à ANALYSIS Microbiome, cells Multi-omics Multiple GI diseases On track to initiate clinical proof of concept study in H2 2021 On track to seek cl
Slide 14: Key Clinical Data Presentations and Publications in 2020
FIRST HALF 2020 Society for Maternal-Fetal Medicine (SMFM) Annual Meeting – one poster presented 2020 American College of Medical Genetics and Genomics’ (ACMG) Annual Meeting – four posters presented Publication highlighting design and reporting considerations for genetic screening tests1 EXPECTED S
Slide 15: Second Quarter Financial Details
Second Quarter Financial Details
Slide 16: Resilient Demand Reflected in Q2 Revenue
Resilient Demand Reflected in Q2 Revenue Q2 revenue demonstrates resilience of Progenity’s women’s health channel Anticipating sequential quarterly growth in H2 2020 INN transition expected to generate gradual improvement in reported revenue 1. Includes $13.2M accrual for settlements Revenue (millio
Slide 17: Financial Overview
Financial Overview $ in millions ©2020 Progenity, Inc. All rights reserved. Q1 2020 Q2 2020 YTD 2020 Revenues $16.8 $17.3 $34.1 ASP ($/test) 213.5 230.2 221.5 COGS 26.6 21.8 48.4 SG&A 31.5 29.9 61.5 R&D 11.2 12.2 23.5 Net Loss (17.2) (53.1) (70.2) Operating Cash Flows (30.9) (13.5) (44.4) Cash & Cas
Slide 18: 2020 Key Milestones
©2020 Progenity, Inc. All rights reserved. 2020 Key Milestones Dx business generates recurring long-term cash flows Resilient business with growing differentiation in a competitive market Product pipeline expected to drive potential value creation and grow competitive differentiation In-network cove
Slide 19: Q&A Session
Q&A Session