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SOPHiA GENETICS SA reports news on its AI-driven precision medicine software business and the adoption of the SOPHiA DDM Platform by hospitals, laboratories, and biopharma institutions. Company updates commonly cover financial results, analysis volumes, customer additions, U.S. market expansion, and applications that analyze genomic and multimodal data for cancer and rare disorders.
Recurring developments include health-system collaborations, next-generation sequencing workflows for blood cancers and solid tumors, Liquid Biopsy and Enhanced Exomes applications, and management commentary on platform demand, gross margin, operating leverage, and biopharma activity.
SOPHiA GENETICS (Nasdaq: SOPH) announced a collaboration with IDIBAPS and Diagnóstica Longwood to enhance Chronic Lymphocytic Leukemia (CLL) care at the European Hematology Association Congress. This partnership aims to consolidate various guideline recommendations into a single application, improving CLL characterization and research practices in Iberia. Leveraging the SOPHiA DDM™ Platform, hematopathologists can access essential guidelines and identify CLL-specific genes, potentially enhancing patient care for the 100,000+ global annual CLL cases.
SOPHiA GENETICS provided an update on its DEEP-Lung-IV clinical study during the 2022 ASCO Annual Meeting. The study focuses on predicting patient response to immunotherapy using multimodal data analysis. Currently, 19 sites across 7 countries have recruited over 500 patients. Early findings suggest promising potential for identifying predictive signatures for individual patients. Additionally, an agreement with GE Healthcare aims to enhance radiomics analysis workflows. Insights from this study could significantly impact precision medicine for stage IV non-small cell lung cancer.
SOPHiA GENETICS (Nasdaq: SOPH) reported Q1 2022 revenue of $10.9 million, marking a year-over-year growth of 21%. Excluding COVID-19 revenues, the constant currency growth reached 35%. The company maintains its 2022 revenue growth guidance of 30% to 35%, despite a stronger U.S. dollar impacting reported figures. The total genomic profiles analyzed surpassed 1,000,000, and total recurring customers increased to 384. However, the operating loss rose to $25 million, up from $14.1 million in Q1 2021, with a net loss of $25.5 million or $0.40 per share.
SOPHiA GENETICS (Nasdaq: SOPH) announced the nomination of Jean-Michel Cosséry to its Board of Directors. His appointment will be proposed at the Annual General Meeting on June 15, 2022. Cosséry brings over 25 years of experience in the med-tech and pharmaceutical sectors, having held key positions at Novartis, GE Healthcare, and Eli Lilly. CEO Jurgi Camblong highlighted Cosséry's diverse expertise as an asset for accelerating growth in oncology and biopharma. SOPHiA GENETICS aims to establish data-driven medicine as a standard of care globally, serving over 790 institutions.
SOPHiA GENETICS (Nasdaq: SOPH) announced that CFO Ross Muken will participate in the J.P. Morgan 50th Annual Global Technology, Media, and Communications Conference in Boston on May 24, 2022. The company's management will also engage in multiple investor meetings during the event. SOPHiA GENETICS is committed to advancing data-driven medicine through its innovative SOPHiA DDM™ Platform, which is utilized by over 790 healthcare institutions globally. For investor inquiries, contact Jennifer Pottage, Head of Investor Relations.
SOPHiA GENETICS (Nasdaq: SOPH) has announced that its SOPHiA DDM™ Platform has successfully analyzed one million genomic profiles, marking a significant achievement in data-driven medicine. This milestone illustrates the platform's rapid growth, having doubled its analyzed profiles in just under two years. The technology is utilized across over 790 healthcare institutions worldwide, enhancing the accuracy of genomic variant detection and facilitating improved patient care. Collaborations, such as with GE Healthcare, further support advancements in cancer treatment by optimizing therapeutic targeting.
SOPHiA GENETICS (Nasdaq: SOPH) will announce its financial results for Q1 2022 on May 10, 2022, before U.S. market opening. A conference call will follow at 8:30 a.m. ET to discuss the results and future business outlook. The call will be available for live webcasting on the company's Investor Relations website. SOPHiA is committed to data-driven medicine and its SOPHiA DDM™ Platform is utilized by over 790 healthcare institutions worldwide.
SOPHiA GENETICS (Nasdaq: SOPH) reported a 42% year-over-year revenue increase for 2021, totaling $40.5 million. In Q4 2021, revenue reached $10.9 million, up 40% from Q4 2020. The company expanded its customer base, growing total recurring platform customers to 382. Despite strong revenue growth, operating losses increased to $21 million in Q4 and $71.5 million for the full year. The company expects 2022 revenue of $51.5 million to $54 million, reflecting growth of 27% to 33% over 2021. Cash reserves were approximately $265 million as of December 31, 2021.
SOPHiA GENETICS (Nasdaq: SOPH) and REALM IDx announced a letter of intent to collaborate on the co-development of genomic applications aimed at enhancing cancer care. This partnership seeks to improve next-generation sequencing (NGS) research and leverage multimodal data to enhance patient outcomes. The companies plan to utilize Ambry Genetics' TumorNEXT-HRD assessments and Variant Assessment database alongside SOPHiA's cloud-based DDM platform. This collaboration may lead to improved diagnostics by integrating genomics, radiology, and pathology data.
SOPHiA GENETICS (Nasdaq: SOPH) has announced that SOFIVA GENOMICS, a leading genetic testing company in Taiwan, is the first institution in the Asia Pacific to adopt their HRD testing technology. This collaboration focuses on advanced HRD detection using deep learning via the SOPHiA DDM Platform, which enhances cancer research capabilities. The technology has shown to detect more HRR genes compared to alternatives, potentially benefiting 150,000 ovarian cancer patients annually in the region. This partnership aims to improve precision medicine and data ownership for SOFIVA GENOMICS.