Guardant Health, Inc. · NASDAQ:GH
Guardant Health — J.P. Morgan Healthcare Conference 2023
40 slides from Guardant Health's conference presentation, January 2023
Slide 1: Transforming Cancer Care
Transforming Cancer Care J.P. Morgan Healthcare Conference January 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: Kirk's story
Kirk’s story Diagnosed with late-stage lung cancer in 2014, began biomarker testing with Guardant360 in 2017 Biomarker testing has been the difference between life and death for me and has allowed me to maintain my quality of life. It’s like a map that guides my treatment at every stage. Everyone wh
Slide 4: Corporate Overview
Corporate Overview
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 5
Slide 6: 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 7: 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 Extending leadership Breaking through Reducing cash burn and leveraging our in cancer screening and accelerating scale with Smart progress to Liquid Biopsy profitability 7
Slide 8: Oncology
Oncology
Slide 9: The most complete portfolio and leading commercial organization in liquid biopsy oncology testing
The most complete portfolio and leading commercial organization in liquid biopsy oncology testing 1st Blood-Only 1st FDA-Approved Next-Generation 1st Blood-Only Next-Generation Recurrence Comprehensive Liquid Biopsy Liquid Biopsy Tissue Assay Monitoring Liquid Liquid Biopsy Assay to Monitor Biopsy T
Slide 10: Guardant360 a blockbuster diagnostic franchise
Guardant360 a blockbuster diagnostic franchise Precision Oncology Revenue – G360 Franchise $10B US market in early development $400 ✓ 700K new metastatic patients per year2 $350 ✓ < 50% of patients are receiving CGP today3 Exponential revenue growth since 2015, ✓ Growth opportunities across liquid,
Slide 11: Guardant Reveal – a larger blockbuster franchise in its early innings
Guardant Reveal – a larger blockbuster franchise in its early innings Exponential launch trajectory $20B US market in early development >250% YoY clinical volume growth in 2022 ✓ 15M cancer survivors, multiple tests per year1 ✓ < 50% of cancer survivors can be accessed by tissue-based approaches2 ✓
Slide 12: Smart Liquid Biopsy
Smart Liquid Biopsy TM
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: Smart Liquid Biopsy platform
Smart Liquid Biopsy platform The power of liquid biopsy Breakthrough chemistry Simple blood draw High-sensitivity genomic + epigenomic Tissue-site agnostic Captures whole body heterogeneity + detection Higher sensitivity than bisulfite methods Ultra-high specificity Captures temporal dynamics Broad
Slide 15: There are 37.2 trillion cells in the human body
There are 37.2 trillion cells in the human body And they all share one genome 15
Slide 16: Epigenomics is the missing link in understanding human disease
Epigenomics is the missing link in understanding human disease 16
Slide 17: Genomics is blind to most of what drives cancer…
Genomics is blind to most of what drives cancer… Genome instability & mutation …seeing only a small portion of the picture 17 Source: cancerdiscovery.aacrjournals.org/content/12/1/31
Slide 18: Smart Liquid Biopsy unlocks the power of epigenomics to show more of the full view
Smart Liquid Biopsy unlocks the power of epigenomics to show more of the full view Deregulating Sustaining cellular metabolism proliferative signaling Resisting Evading growth cell death suppressors Genome instability Avoiding immune & mutation destruction Genome instability Inducing or & mutation E
Slide 19: 100X genomic breadth
100X genomic breadth Guardant Infinity Smart Liquid Biopsy INFINITY G360 19
Slide 20: > 50X higher sensitivity
> 50X higher sensitivity Guardant Infinity Smart Liquid Biopsy 10% Lower sensitivity 1% Genomics detection level Percent Tumor 0.1% Fraction Detected >50X Improvement 0.01% Epigenomics-only detection level 0.001% 0.0001% Higher sensitivity 20
Slide 21: Guardant Reveal upgrade to Smart Liquid Biopsy platform will supercharge MRD performance
Guardant Reveal upgrade to Smart Liquid Biopsy platform will supercharge MRD performance # of biomarkers detected 1,000 >1,000 biomarkers detected 800 >5X improvement in Guardant 600 Reveal Coming in sensitivity with powered by 2023 higher specificity Smart 400 Liquid Biopsy <50 biomarkers detected
Slide 22: Unified platform from Smart Liquid Biopsy drives significant R&D efficiency and operating leverage
Unified platform from Smart Liquid Biopsy drives significant R&D efficiency and operating leverage Smart Liquid Biopsy Platform Coming in 2023 Upgraded to SLB Upgrade in progress R&D efficiency Operating leverage Leveraged Cross- Lower Fast performance development of COGS turnaround improvements new
Slide 23: Screening
Screening
Slide 24: ECLIPSE: 20,000-patient registrational screening study
ECLIPSE: 20,000-patient registrational screening study >200 enrollment sites across 34 states Diverse representation 15% Hispanic, 13% Black and 7% Asian American Conducted in rural and urban locations Community hospitals, private practices, GI clinics, academic Guardant Reveal powered by Smart Liqu
Slide 25: ECLIPSE study demonstrates strong CRC detection
ECLIPSE study demonstrates strong CRC detection CRC Screening Performance 83% 74% 1 FIT Biopsy Biopsy Guardant Reveal powered by Smart Liquid CRC Sensitivity Sensitivity (Overall) Specificity at 90% Specificity at 95% Advanced adenoma sensitivity at 13% Advanced adenoma sensitivity at 24% Paves the
Slide 26: Guideline thought leaders are excited about Shield following a positive ECLIPSE readout
Guideline thought leaders are excited about Shield following a positive ECLIPSE readout “Encouraging results from the ECLIPSE study suggest that screening for colorectal cancer using a blood-based “83% [sensitivity] is above the bar. test could provide an easier option for There is absolutely no que
Slide 27: Breaking the CRC screening barrier with a preferred and accessible option for 120M individuals
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 Unscreened Individu
Slide 28: Effectiveness analysis suggests that Shield would dramatically improve real-world CRC detection
Effectiveness analysis suggests that Shield would dramatically improve real-world CRC detection 1 Adherence by modality 2 Performance (Sensitivity-Specificity) Lifetime CRCs Effective Adherence Sensitivity Specificity detected per Sensitivity million8 90%1 83%5 90%5 75% 30k Guardant Reveal powered b
Slide 29: 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 Launched ECLIPSE Submit for Launch Shield Medicare & ACS USPSTF Shield LDT Readout FDA Approval IVD-CRC ADLT Status Guidelines Guidelines May 2022 4Q’ 22 1Q’ 23 2024 2026 CRC Drives ADLT Pricing State-level payer Drives priva
Slide 30: Breaking the lung cancer screening barrier with a preferred and accessible option
Breaking the lung cancer screening barrier with a preferred and accessible option Successful screening requires both adherence and performance 1 14M High-Risk Individuals 14%2 2M Screened Individuals 12M Unscreened Individuals Blood-based screening with 90% adherence is the solution 85% 75% Lung Sen
Slide 31: Prospective lung cancer screening studies aligned with clinical guidelines in asymptomatic patients
Prospective lung cancer screening studies aligned with clinical guidelines in asymptomatic patients SHIELD-LUNG Negative for lung cancer USPSTF Criteria for High-Risk Lung + One-year follow-up Cancer Screening1 Lung cancer Enrollment started in 2022 Multi-site 10,000 patient study First endpoint rea
Slide 32: Prospective lung cancer screening studies aligned with clinical guidelines in asymptomatic patients
Prospective lung cancer screening studies aligned with clinical guidelines in asymptomatic patients SHIELD-LUNG NCIRE-LUNG Negative for Negative for lung cancer lung cancer USPSTF Criteria for High-Risk Lung Cancer Screening1 USPSTF Criteria Surveillance for High-Risk Lung + One-year follow-up OR fo
Slide 33: Roadmap to accessible multi-cancer screening blood test for 120M individuals
Roadmap to accessible multi-cancer screening blood test for 120M individuals Transformational multi-cancer screening with a single blood test Annual screening interval Multi-cancer Annual screening interval in high-risk and Screening at 3-year intervals 3-year intervals for average risk Average-risk
Slide 34: Shield: a $5B blockbuster diagnostic brand in 2032
Shield: a $5B blockbuster diagnostic brand in 2032 $5B sales potential in 2032 with robust margins ✓ 10M annual test potential in CRC alone ✓ Potential to expand use to annual cancer testing for more indications ✓ Targeting 60%+ gross margin at scale CBC First high-sensitivity blood-based screening
Slide 35: Financials
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Slide 36: Preliminary, unaudited full year 2022 results
Preliminary, unaudited full year 2022 results Total Revenue (M) Clinical Volume (K) Biopharma Volume (K) +20% +42% +40% $447 – 450 26.0 124.8 $374 18.6 87.6 FY21 FY22 FY21 FY22 FY21 FY22 36
Slide 37: Leverage existing infrastructure to reduce cash burn and maximize cash runway beyond 3 years
Leverage existing infrastructure to reduce cash burn and maximize cash runway beyond 3 years Significant infrastructure investments Free cash flow projections over last 3 years 2022E 2023E 2024E 2025E Single technology platform Leverage to reduce cash burn from 2022 peak Oncology commercial infrastr
Slide 38: $1B cash balance will fund investments to maximize market opportunities across cancer continuum
$1B cash balance will fund investments to maximize market opportunities across cancer continuum Therapy Selection ✓ Approaching breakeven in ~12 months Therapy ✓ Continued market penetration of G360 franchise in US Selection ✓ G360 commercial launch in Japan ✓ Clinical data development for key indic
Slide 39: Key milestones transforming the continuum of care
Key milestones transforming the continuum of care 2022 2023 Therapy CMS reimbursement for TissueNext CMS reimbursement for Guardant Response Selection Regulatory approval in Japan Guardant360 reimbursement in Japan First liquid biopsy testing in Europe operational Ongoing rapid deployment of EMR cus
Slide 40: Guardant
(¢) GUARDANT
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