Personalis Stock Price, News & Analysis

Personalis, Inc. (Nasdaq: PSNL), a leader in advanced cancer genomics, will participate in two upcoming investor conferences. The first is the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 16, 2023, at The Cliff Lodge in Snowbird, UT. The second is the 43rd Annual Cowen Healthcare Conference on March 7, 2023, at 10:30 a.m. Eastern Time at the Boston Marriott Copley Place in Boston, MA. Personalis is known for its NeXT Platform, which offers comprehensive insights into the human genome, aiding in precision cancer therapies. The company's laboratory is recognized for its clinical accuracy and quality.

Personalis, Inc. (PSNL) and Moderna, Inc. (MRNA) have signed a new agreement to utilize the Personalis NeXT Platform for clinical studies involving the investigational personalized cancer vaccine, mRNA-4157/V940. This platform previously supported the Phase 2b clinical study, sequencing genomic data from patient tumor samples to identify mutations that may prompt tailored antitumor responses. Chris Hall from Personalis expressed excitement about continuing their collaboration with Moderna, emphasizing the aim to advance individualized cancer treatments.

Personalis, Inc. (NASDAQ: PSNL) reported preliminary fourth-quarter revenue of approximately $16.7 million and full-year revenue of $65.0 million for 2022, surpassing previous guidance of $63.0 to $64.0 million. Key highlights include a 42% increase in revenue from biopharma and other customers, totaling $56.6 million for the year. The U.S. Department of Veterans Affairs Million Veterans Program revenue dropped to $0.9 million in Q4, down 82% year-over-year. Cash and short-term investments amounted to $167.0 million as of December 31, 2022.

Personalis, Inc. (Nasdaq: PSNL) announced the grant of non-qualified stock options for 35,000 shares and restricted stock units (RSUs) covering 42,100 shares to three new employees between December 5, 2022, and December 16, 2022. The grant is part of the 2020 Inducement Plan, aimed at attracting new talent to the company. The options have an exercise price of $2.83 and vest over four years. This decision aligns with Nasdaq regulations and reflects Personalis' commitment to enhancing its workforce as a leader in cancer genomics.

Personalis, Inc. (NASDAQ: PSNL) announced the retirement of CEO John West, effective December 31, 2022. West, a co-founder, has led the company since its inception in 2011, focusing on advanced cancer genomics. Aaron Tachibana, currently CFO, will serve as interim CEO, and Christopher Hall will be promoted to President. The board will search for a permanent CEO. West expressed pride in the company’s accomplishments in enhancing cancer treatments and genomic profiling.

Personalis, Inc. (NASDAQ: PSNL) has announced a collaboration with UC San Francisco (UCSF) to deploy a personalized liquid biopsy-based research assay for colorectal cancer. The NeXT Personal™ assay will evaluate ctDNA signatures linked to treatment response in late-stage patients undergoing therapy with capecitabine, pembrolizumab, and bevacizumab. This partnership aims to enhance early detection of treatment response and disease recurrence, addressing the limitations of current ctDNA assays.

Personalis, Inc. (NASDAQ: PSNL) announced it will present data from its NeXT Platform® at the Society for Immunotherapy of Cancer (SITC) Annual Meeting from November 8-12 in Boston. The presentation includes three abstracts that demonstrate advancements in next-generation sequencing (NGS) related to immuno-oncology. Key highlights include improved neoantigen prediction and the integration of immune infiltration metrics to enhance response predictions for immunotherapy treatments. The data aims to improve patient stratification and therapeutic efficacy.

Personalis, Inc. (Nasdaq: PSNL) reported third-quarter financial results for 2022, showing revenues of $14.9 million, down from $22.3 million in Q3 2021. Notably, revenue from biopharma customers increased by 73% to $14.9 million, driven by a $7.4 million contribution from Natera. The company announced collaborations with BC Cancer and Duke University to enhance cancer detection methods. However, net loss for the quarter was $26.5 million with a gross margin of 16.7%. The outlook for 2022 projects total revenue between $63 million and $64 million, with net loss expected between $111 million and $114 million.

Personalis, Inc. (NASDAQ: PSNL) has appointed Christopher Hall as SVP and Head of Diagnostics Business to enhance its commercial strategy. Hall joins with over 20 years in diagnostics, previously serving as CEO of Naring Health and holding executive roles at Veracyte. His past achievements include scaling Veracyte's diagnostic revenue to nearly $100 million. To facilitate his role, Personalis granted him inducement awards consisting of stock options and restricted stock units covering 500,000 shares, vesting over four years at an exercise price of $2.67 per share.