Sophia Genetics Sa Stock Price, News & Analysis

SOPHiA GENETICS (Nasdaq: SOPH) has unveiled the new generation of its SOPHiA DDM™ Platform at the Morgan Stanley Healthcare Conference 2024. This cloud-native platform offers a new web-based architecture designed to compute large amounts of data more efficiently at-scale, while enhancing customer experience with integrated access to multimodal analytics modules.

The platform now processes nearly 30,000 analyses per month, with over 1.8 million genomic profiles analyzed to date. The new generation introduces faster data processing, enabling quicker turnaround times and new capabilities such as whole genome sequencing. It integrates genomic, radiomic, and multimodal analytics in a single workspace, allowing customers to select applications that best suit their needs.

SOPHiA GENETICS (SOPH), a cloud-native software company specializing in data-driven medicine, has announced its participation in two major healthcare conferences in September 2024. Ross Muken, the company's CFO and COO, will present at the 22nd Annual Morgan Stanley Healthcare Conference on September 4 at 1:50 p.m. EDT in New York City.

The following week, Dr. Jurgi Camblong, co-Founder and CEO, will join a panel discussion on AI in Healthcare at the 9th Annual TD Cowen FutureHealth Conference on September 10 at 3:15 p.m. EDT, also in New York City. Both presentations will be webcast live on the SOPHiA GENETICS Investor Relations website, with replays available after the events.

SOPHiA GENETICS (Nasdaq: SOPH) has announced that its SOPHiA DDM™ Platform has received CE marking under the European Union's In Vitro Diagnostic Regulation (IVDR). This certification validates the platform's analytical capabilities and allows its use for patient diagnostics in the EU and other markets recognizing this certification.

The transition from IVDD to IVDR represents a significant advancement in regulatory standards for genetic testing and analysis. The SOPHiA DDM™ Platform's IVDR certification ensures compliance with these new standards, promoting transparency, traceability, and reliability in genomic analysis processes.

The platform offers a 'Dx Mode' to meet IVDR requirements and includes five existing CE-IVD applications. Powered by proprietary deep learning algorithms, it has facilitated the analysis of over 1.7 million genomic profiles to date.

SOPHiA GENETICS (Nasdaq: SOPH) reported Q2 2024 financial results, showing mixed performance. Revenue increased 5% year-over-year to $15.8 million, with constant currency revenue excluding COVID-19 up 7% to $16.0 million. Gross margins improved to 68.2% (reported) and 73.2% (adjusted), up from 66.7% and 70.0% respectively in the prior year.

The company saw strong growth in the U.S. market but faced challenges in BioPharma and EMEA regions. Operating loss improved by 25% to $15.0 million (reported) and 32% to $9.9 million (adjusted). For the full year 2024, SOPHiA GENETICS revised its revenue outlook to $65-$67 million, representing 4-7% growth, and expects adjusted gross margin between 72.0-72.5%.

SOPHiA GENETICS (Nasdaq: SOPH) announced that L'hôpital Universitaire Avicenne in Bobigny, France, is implementing the SOPHiA DDM™ Platform to enhance its testing and research of blood-related cancers and disorders. The hospital, serving approximately 500,000 patients annually, will use the platform to expand its lymphoid testing, advancing research and treatment planning for blood disorders and cancers.

The SOPHiA DDM™ Platform utilizes next-generation sequencing (NGS) to target key variants from various samples, aiding in better detection of disease-associated variants. The platform's AI-based technology facilitates fast and accurate analysis of genomic data, providing nearly 100% reproducible results to ensure stable and trustworthy sequencing data.

SOPHiA GENETICS (Nasdaq: SOPH) announced an expanded relationship with OncoHelix, a Canada-based research and diagnostics laboratory. OncoHelix will implement MSK-ACCESS® powered with SOPHiA DDM™, becoming the first laboratory in Canada to adopt this liquid biopsy solution. This expansion builds on OncoHelix's existing use of the SOPHiA DDM™ Platform for myeloid testing.

The new liquid biopsy solution will advance OncoHelix's oncology testing capabilities, offering an alternative to traditional solid tumor biopsy. It extracts cell-free DNA from blood plasma, revealing circulating tumor DNA, which can expedite clinical decisions and streamline monitoring. The implementation is expected to go live later this summer, supporting OncoHelix's mission to offer exceptional clinical-grade molecular and immune profile testing.

SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company specializing in data-driven medicine, has announced the release date for its second quarter 2024 financial results. The results will be unveiled on August 6, 2024, before U.S. markets open. Following the release, the company will host a conference call at 8:00 a.m. EDT / 2:00 p.m. CET to discuss the financial results and provide a business outlook. Investors and interested parties can access the webcast live on the SOPHiA GENETICS Investor Relations Website, where a replay will also be available after the call.

SOPHiA GENETICS (Nasdaq: SOPH) has announced that Dhiti Omics Technologies, an India-based precision molecular diagnostics provider, is now live on the SOPHiA DDM™ Platform. This collaboration aims to enhance Dhiti Omics' capabilities in solid tumor testing by utilizing SOPHiA DDM™ for the Agilent SureSelect Cancer Comprehensive Genomic Profiling (CGP) application. The integration is expected to provide researchers with actionable information on mutations and biomarkers across hundreds of genes, ensuring rapid and accurate diagnostics. Both companies emphasize this partnership's potential in advancing precision medicine and improving health outcomes in India and globally.

SOPHiA GENETICS (Nasdaq: SOPH), a leader in data-driven medicine, announced the results of its 2024 Annual General Meeting (AGM) held on June 24, 2024. Shareholders approved all proposals presented during the meeting held at the company's headquarters in Rolle, Switzerland. Detailed voting results and AGM minutes will be available on the company's website and filed with the U.S. Securities and Exchange Commission on Form 6-K. SOPHiA GENETICS expressed gratitude to its shareholders for their support.