Leon brings more than 25 years of experience to the role, including helping life sciences companies implement significant changes across the strategy, operations and technology spectrum.
BOSTON , Dec. 6 , 2022 /PRNewswire/ — Deloitte has appointed Pete Lyons as National Director of its US Life Sciences Practice. Head of Marketing Portfolio and Head of US Deloitte Digital.
In his new role, Lyons will lead a multidisciplinary team serving pharmaceutical, biotechnology, medical device and consumer healthcare clients with consulting, advisory, audit and tax services.
“Pete has the experience and talent to leverage our people and expertise across insurance, consulting, advisory and tax practices to drive the digital transformation of our global industry and solve our clients’ most pressing challenges,” said Asaf Dar , MD. Vice President and Industry Leader, US Life Sciences and Healthcare, Deloitte LLP. “Consumers and physicians alike rely on life sciences companies to help them overcome challenges like epidemics, find cures for diseases, and improve health and well-being, and I’m excited to have Pete lead the way and help our customers reach new heights.” About ways to improve. It lives all over the world.”
Lyons will be responsible for the overall strategic direction and go-to-market strategy and resources for Deloitte’s life sciences practice. He will continue to be a leading life sciences consultant in the US.
“The life sciences have never been more interesting, and I continue to be inspired by organizations that solve the world’s most pressing health problems by leading the unity of people, processes and technologies,” said Lyons. “Our job is to help them focus on what they do best: bringing treatments, therapies, devices and medicines to market, and I’m confident that we can do this with our talented teams, commitment and dedication to innovation: helping our customers succeed towards a more equitable future.”
With 25 years of experience, Lyons served as US Client Lead Consultant, where he was responsible for managing the entire client portfolio and effectively marketing Deloitte’s services through his client managers. He holds a bachelor’s degree in economics and information systems from Boston College and a bachelor’s degree from Northwestern University’s Kellogg School of Management .
About Deloitte
Deloitte provides industry-leading assurance, consulting, tax and advisory services to many of the world’s leading brands, including nearly 90% of the Fortune 500® and more than 7,000 privately held companies. By doing well, our people work in the areas that drive and shape today’s markets, deliver measurable and sustainable results, help build public confidence in our financial markets, inspire and help clients turn challenges into transformational opportunities and see growth. It has paved the way to a stronger economy and a healthier society. Deloitte is proud to be part of the largest global network of professional services for our clients. Based on over 175 years of service, our network of member companies covers 150 countries and territories. Visit www.deloitte.com to learn how more than 415,000 Deloitte employees around the world are connecting to make a difference.
Deloitte refers to Deloitte Touche Tohmatsu Limited, a UK limited company (“DTTL”), its network of member firms and its subsidiaries. DTTL and each of its member companies are legally separate and independent entities. DTTL (aka “Deloitte Global”) does not provide customer service. In the United States , Deloitte refers to one or more US-based Deloitte companies operating in the United States under the Deloitte name and under their respective umbrellas. Certain services may not be available to clients for audit purposes in accordance with public accounting rules and regulations. To learn more about our global network of member firms, visit www.deloitte.com/about.
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Nobel laureate Alex Aprikosov. Extraordinary life and scientific achievements – lecture by Professor Varlamov
Comedian and activist joins Google Ventures, 5AM Ventures, Transformation Capital and G9 Ventures to set a new standard in infertility treatment
NEW YORK, Dec. 1, 2022 /PRNewswire/ — TMRW Life Sciences, Inc. (TMRW), creator of the world's first and only software-based automated sample management platform for frozen eggs and embryos used for intravenous fertilization vitro (IVF), announced today that award-winning actress, New York Times bestselling author and IVF patient author Amy Schumer becomes a new investor in TMRW.
"I'm very grateful to be a mom, but it's a long and difficult process," said Schumer, who spoke about her experiences with hyperemesis gravidarum, endometriosis and IVF. “When I went through the IVF procedure, it was physically and emotionally draining and there was a lot of uncertainty. It never occurred to me to ask how my embryos were handled and stored. That is why I am proud to invest in TMRW. Their technology lab is transforming the fertility industry by making processes safer and more transparent so patients have one less problem to worry about.”
Since the introduction of human IVF over 40 years ago, significant advances in treatment have been made; However, the organization and handling of frozen oocytes and embryos remain largely unchanged. Embryologists still perform manual tasks, which are time-consuming and often error-prone, primarily using small handwritten labels and paper journals. By deploying TMRW's unique digital supply chain and technology platform, physicians and patients gain unprecedented visibility, security, and peace of mind, freeing physicians to focus on what they do best: raising families.
“Patients are becoming more educated and informed about how their frozen eggs or embryos will be handled when undergoing IVF or egg freezing. As an IVF mom, I know firsthand the comfort that more information and transparency brings,” said Tara Komont, Executive Director of TMRW. “Our technology is designed with security and transparency in mind, allowing clinicians and patients to be continuously monitored, managed and stored. These are precious frozen eggs and embryos. possible; We are proud to have him join us on this mission."
TMRW Life Sciences has developed the only FDA-cleared automated solution that digitally monitors and manages frozen eggs and embryos used in IVF. The TMRW platform has been adopted by world-renowned clinics across the country, including Vios Fertility/Kindbody, Boston IVF, CCRM Fertility; San Diego Center for Reproductive Medicine, Colorado Reproductive Technology Association, Institute of Reproductive Medicine and Science, and RMA New York .
TMRW's integrated software and hardware systems for clinics and patients usher in a new era of infertility treatment where advanced technology and automation are the norm, not the exception.
About TMRW Life Sciences, Inc.
Founded in 2018, TMRW Life Sciences, Inc. is a life sciences technology company committed to safety and transparency in IVF modernization and transformation. For the first time, frozen eggs and embryos can be digitally identified and tracked, safely handled with automated robotics, and remotely monitored 24/7. With proprietary RFID-enabled lab equipment and an integrated software management solution, TMRW protects life's most valuable cells. Named by Fast Company as the Most Innovative Biotech Company of 2022, TMRW has been adopted by leading clinics in the US and will soon be available in the UK and Europe. With continued significant growth in fertility services and an expected increase in IVF births, TMRW provides a scalable solution for clinics, bringing frozen embryo and egg care into the 21st century. For more information, visit www.tmrw.org .
Shares of Anavex Life Sciences (NASDAQ: AVXL ) , a clinical-stage biotech company specializing in the treatment of neurodegenerative and neurodevelopmental disorders, fell 23.5% on Monday. Shares closed Friday at $11.89. After opening Monday at $12.46, it rose to $12.49 before falling for much of the rest of the session, falling to $8.86 in the afternoon and closing the session at $9.10. The stock is down more than 47% this year, hitting a 52-week high of $21.30 and a 52-week low of $7.13.
for
On Monday, the company will publish financial results for the fourth quarter. Anavex was not profitable, but losses exceeded expectations. It reported a net loss of $14.3 million ($0.18 per share) for the period ended Sept. 30, compared with a net loss of $11.7 million ($0.15 per share) in the same period quarter of last year.
Anavex lost $48 million ($0.62 per share) for the fiscal year, compared with a loss of $37.9 million ($0.54 per share) in fiscal 2021. Despite those lackluster numbers, some investors see potential for the candidate’s systemic central nervous system therapy.
What now
Despite the disappointing numbers, the most important indication for Anavex will come on Dec. 1, when data from Anavex 2-73, the lead Alzheimer’s drug, will be presented at the Alzheimer’s Congress in San Francisco. Anavex 2-73 is currently in a phase 2b/3 study. The path to a potential Alzheimer’s treatment has been filled with disappointments, so some information about the trial may have leaked out early. The biotech company’s drug was touted as an alternative treatment for Rett syndrome, a neurodevelopmental disorder that only affects girls, and Parkinson’s disease.
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The new collaboration between academic tech transfer experts, venture capitalists and law firms provides a platform for life science startups.
The collaboration will leverage life science entrepreneurs to create new businesses based on their discoveries and innovations.
Simplifying the path to life sciences transactions will lead to an overall improvement in healthcare options for patients.
PALO ALTO, Calif., November 28, 2022 –( BUSINESS WIRE )–As of the spring of 2020, the group of academic institutions, investors, and law firms listed below have been collaborating to coin the term "representation." A worksheet that an investor and academic institution can use to start a conversation about starting a new life science business. The goal was to create a reasonable approach with terms and conditions that most parties could use in most situations. The philosophical framework can be found here: "Guidelines for Life Sciences University Startups" and "Recommended Process Improvements for Life Sciences Universities Startups" originally published in December 2020.
Since then, the creators have incorporated these principles into a sample word sheet (available in PDF and Word versions) with complete words, which any entity can download and use for free. The hope is to dramatically reduce the time it takes to negotiate these early-stage life science deals, which can bring therapeutic, diagnostic and therapeutic devices to market months or years earlier, with benefits similar for patients around the world.
Important Note: The authors use the word "representative" to describe the list of terms, as most terms are considered reasonable by both parties. Therefore, the term list can be used in many contexts without further content modification. However, it should be noted that each institution or investor may have a preferred approach or guidelines that may leave a strong impression on you. For example, some companies have particularly strong positions on securing revenue, securing rights, or future expansion, and some investors have similar positions on equity, success fees, or board seats. . In fact, it would be impossible to create a single document containing all possible options. Therefore, some Participating Organizations and others may need to use alternative approaches to those described in the Standard Terms of Use, and while they support the general approach presented here, nothing in these documents should be interpreted as binding on an innovative organization. . On the contrary, the list of conditions should be considered a reasonable generalization for most situations.
Over the next few months, the developers plan to release a full license agreement template based on this specification. If you have any questions, comments or concerns or would like your institution to be included in the list of sponsors below, please email [email protected].
The list of contributors is as follows (individual contacts are indicated in parentheses):
Institutions: Columbia (Orrin Herskovitz, Ofra Weinberger, Melissa Cohen), Duke (Robin Rasor), Harvard (Isaac Kohlberg), Johns Hopkins (Steve Kouzouris), MIT (Lauren Foster), Stanford (Karin Emergluk), Indiana University (Terry Wiley ) ), University of Michigan (Rick Brandon), University of Kentucky (Ian McClure), University of Pennsylvania (John Swartley), and Yale University (John Soderstrom).
Venture capitalists : 5AM Ventures (Galia Blachman, Jessica Alfano and Deb Palestrant), Atlas (Kevin Bitterman), Omega Fund (Daider Kanein), OUP (Kirsten Lute and Bill Harrington), Polaris (Amy Shulman and Alexandra Cantley), RA Capital (Sarah Reed, Nadeem Shohdi and Josh Resnick) and Wenrock (Kami Samuels).
Law firms: Cooley (Jeff Spolar), Goodwin (Sarah Solomon) and Wilson Sonsini (Katie Ku)
Terms have been reviewed and approved by the Technology Licensing Divisions of California Institute of Technology (Caltech), Columbia University, Cornell University, Duke University, Harvard, Indiana University, Johns Hopkins University, Massachusetts Institute of Technology, New York University, Stanford . University of Michigan, University of Kentucky, University of Pennsylvania, and Yale University, and venture capital firms 5AM Ventures, A16z, Atlas, F-Prime, Omega Funds, OUP, Polaris, RA Capital, Sofinnova Investments, and Third Rock Ventures.
View the first edition on businesswire.com:https://www.businesswire.com/news/home/20221128005167/en/
With the life sciences industry in the Boston metro area, it’s not about “if you build it, they’ll come” but “if you build it, where will they live?”
The region is home to the world’s largest cluster of such businesses, and has been for several years, according to an annual analysis by real estate agent JLL.
According to the Massachusetts Board of Biotechnology (MassBio), the first six months of the year represent the fourth-largest venture capital investment of any year for a Massachusetts-based biopharmaceutical company. This region is already known for its space limitations when it comes to life science development, which is why you see so many office projects turned into laboratories.
There are good reasons to build more houses if you want this business to thrive and survive.
“Housing and infrastructure remain crucial to establishing the company. That’s really the deciding factor,” said Kendalle Burlin O’Connell, president and chief operating officer of MassBio. “To support the incredible growth we’re seeing and to continue making Massachusetts the best place in the world for life sciences, we need to make sure affordable housing is available.”
Many state-owned life sciences companies require Federal Drug Administration approval for various pharmaceutical developments. After the permits were issued, space and staffing requirements increased rapidly. Just look at Moderna, which is doubling its workforce and planning a similar expansion trajectory for its Massachusetts headquarters and manufacturing plant after developing its COVID-19 vaccine. In 2021, biopharmaceutical jobs in Massachusetts will increase by 13.2%.
“Massachusetts has really been at the forefront of the development of this area and the investments that have been made over the years, and it’s been a truly collaborative effort,” said Catherine Rollins, director of the Boston Urban Land Institute/New England. “I wouldn’t want to see us lose ground in terms of market leadership because we don’t work together and don’t think about the big picture in terms of commercial and real estate competitiveness.”
The Commonwealth is home to many corporations that could become the next Modern. MassBio’s 2022 industry brief projects that, by the end of 2025, 26 million to 59 million square feet of laboratory and manufacturing space will be added to the state’s life sciences inventory. However, Catherine Carlock of The Globe reports that 80% of current lab projects in the region may be “limited” in the face of rising interest rates and a declining economy, but that “as demand increases , the developments of the laboratory will become an established life”. . the sciences “districts, or groups, could be consolidated, with Cambridge leading as usual”.
Despite the potential for cooler demand, the Boston Planning and Development Board approved three new life sciences developments this month: 125 Lincoln St., 310 Northern Ave. and 51 Melcher St.
Housing availability and affordability are critical to maintaining economic competitiveness, so this consolidation will pose significant challenges.
“There are a number of reasons the industry is regionalizing,” O’Connell says of the recent trend of life sciences companies expanding into areas like Worcester, the Merrimack Valley and the North Coast. “There may be more affordable housing available, and we can step into these other communities and take advantage of a new and diverse workforce. Unless we have a strong and diverse workforce to support this evolution, these companies won’t be there.
Concentration of life scientists will drive up housing costs, but industry is better equipped to support them than the general public: The median annual salary of nearly 107,000 life scientists in the state is $201,549, well above the income median household in the state of $84,385, according to census data.
According to MassBio, diversifying the workforce would theoretically ease pressure on housing costs in several cities and free up supplies for people who don’t earn much.
MassBio is not the only one who thinks so.
“It’s consistent with the hub-and-spoke models we’re looking at where the focus will be, whether it’s Kendall Square or the harbor or a suburban alternative like Quincy,” said John Boyd Jr., the company’s director of consulting The Boyd. Co. “New Hampshire is also getting a lot of attention from life science companies, especially after the new tax increase.”
Expansion north and west will not be enough. The Boston area may have long been a leader in the life sciences, but the crown may be found on a new head. JLL’s Top 10 ranking includes more affordable housing markets such as Philadelphia (#5); Raleigh-Durham, NC (No. 6); and Salt Lake City (#10).
“As these companies grow their workforce, the talent often comes in from outside the market, whether it’s overseas or elsewhere in the United States. The idea is like building more homes where people want to live.” said Mark Bruso , principal investigator of JLL. administrator. “Honestly, Boston doesn’t know it yet, and it’s not going to get better anytime soon.”
Nearly every conversation about the need for more housing in the greater Boston area is heating up again. Simply put, there weren’t enough homes being built and densification was the solution. A nonprofit Rise for Growth study released earlier this year ranked Massachusetts the 11th worst housing shortage in the nation, with 108,000 more homes needed each year to meet demand.
“I think for this community, if they’re really going to take this opportunity to build these really vibrant and diverse mixed-use places, that’s where the zoning should start, even if it’s not the most attractive to begin with,” says Kristen O.” Gorman, deputy general manager of the architectural firm SCB.
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The Boston area needs more housing to maintain its crown in the life sciences, but it still has one trick up its sleeve: talent from top universities like Harvard and MIT.”Apartments are definitely something businesses are looking for,” says Jeffrey Myers, head of research at real estate agency Colliers, “but it goes in the bucket with a lot of other things where I think Boston has a huge lead.”
A large concentration of colleges and universities, as well as access to funding, clinical research laboratories and manufacturing space are factors that could offset the high cost of living and doing business in Massachusetts, respondents told the story.
“In Boston, there are a lot of utility costs that have nothing to do with housing costs,” Bruso says.
Send your comments to[email protected].
Because you understand English but you don’t speak it fluently
Life scientists have a data problem: data is fragmented, ambiguous, and incomplete. And that makes it difficult to take full advantage of AI technology.
At the Smart Applications Summit hosted by Madrona Venture Group in Seattle last week, a group of researchers discussed the challenges of implementing artificial intelligence tools in the life sciences.
Artificial intelligence technology is changing the way companies do everything from selling products to routing packages. New AI “basic” models such as GPT-3 and DALL-E, which can generate new expressions or images, have been developed using excellent training tools from the web.
But in the life sciences, “data standardization is very difficult,” said speaker Madison Masaelli, CEO of DeepCell, a startup that visually analyzes and classifies individual cells.
Cell biology data is compromised by differences in sample collection, storage and processing, Massali said, making comparisons between data sets difficult. “From sampling to imaging, there are dozens of steps that lead to variability in the data,” he said.
Not all life science data is messy. Protein structures, for example, are represented in a standardized way in standard databases. This enabled artificial intelligence tools from DeepMind’s AlphaFold and University of Washington’s RosettaFold, which recently solved the long-standing problem of predicting protein folding. UW recently launched ProteinMPPN, an AI-powered protein design tool.
But even for proteins, there’s a lot of information behind the walls. Lucas Nivon, CEO of Seattle-based protein design startup Cyrus Biotechnology, said Cyrus has reached out to major pharmaceutical companies to share databases of antibody structures underlying many therapies. Hundreds of thousands of such structures are silent in various companies.
Nivon said all companies are interested in gathering information and discussing the process of sharing property objects. “Also, nobody wants to be the first big investor,” Nivon said.
Cyrus joined Amazon Web Services and other partners this summer to form OpenFold, an open-source protein design nonprofit, and is now talking to potential partners about sharing information about the structure of these antibodies.
“It has dark matter on its side. It really does,” Nivon said. And everyone admits it.
The reliability and bias issues that affect AI modeling in technical applications also affect the life sciences, but in different ways, the speakers said.
When the AI produces a paragraph that makes no sense, users can see it right away. Jonathan Carlson, who leads life science research and incubation at Microsoft Health Futures, part of the tech giant’s research arm, said it’s difficult to judge whether this indicates a misdiagnosis or an incorrect protein structure.
“Many of the problems we see in the life sciences are not unique, but very acute,” Carlson added.
Testing an AI product and then feeding the data back into the model sounds like it at first, but in the life sciences this process can be time-consuming. Cyrus is testing several proteins developed by his collaborators to create new transgenic mice, a process that could take more than a year. But Nivon’s team used high-throughput in vitro and cell filtration systems.
Nivon says efforts to optimize the filtering system will allow for faster improvements in artificial intelligence models. Capsida Biotherapeutics, which repeatedly designs and tests gene therapy designs using animal models, takes tissue to assess which actually reaches the right place in the body, he said.
Researchers want to better link biological data to clinical outcomes, but many obstacles remain, including privacy requirements, Massali said. “There is no single Google proxy that covers all the biological or health information in the world,” he said.
Carlson envisions a future in which more life science data is anonymized and moved into standard, interoperable formats. Finally, data from clinical trials and animal experiments can be effectively networked to develop new hypotheses and refine key research questions.
Carlson says there’s a big question: “How do we enable collaboration while respecting not only intellectual property, but also privacy? What’s the point of being able to build huge base models when we can’t even open the data?
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Hanna Marie Yeager of Hahira, Georgia received the Fall 2022 President’s Award for the Valdosta State University College of Nursing and Health Sciences. She graduated summa cum laude with a Bachelor of Science in Public Health and a college certificate.
Valdosta – Hahira, Georgia. Hannah Marie Yeager, recipient of the Fall 2022 Presidential Award for Valdosta State University College of Nursing and Health Sciences.
The President’s Academic Excellence Award recognizes the most successful graduates from each of six VSU colleges: Harley Langdale Junior College of Business Administration, College of Nursing and Health Sciences, College of Fine Arts, James L. and Dorothy H. Dewar College. Education and Social Services, Faculty of Humanities and Social Sciences and Faculty of Science and Mathematics.
Yeager will be recognized during the 234th VSU Grand Opening on Saturday, December 10 at 4:30 pm. He will graduate cum laude with a Bachelor of Science in Public Health and a college certificate.
“Long before I graduated from high school, I knew that I wanted to go to VSU. This decision allowed me to receive an excellent education and experience unforgettable experiences in the city that shaped me and made me who I am today,” he said. . he said. . “I mean it was easy, I know I couldn’t have done it without the hard work, determination and constant support of my family, friends and community. I’ve been challenged both in and out of the classroom, but I’m happy to be part of this inspiring community that I can always count on for strength and support.”
As a student at VSU, Yeager completed the Institutional Collaborative Learning Initiative and the Guardians of QPR (Questions, Persuasion, Referral) Suicide Prevention Curriculum. She was a Zell Miller Fellow and an eminent scientist. She has received numerous Dean’s List awards and is active in Baptist College ministry and the Wesleyan Foundation.
Dedicated to serving others, Yeager is honored to attend Chrysalis 2020 in South Georgia, three days of worship, prayer, fellowship, creative expression, relaxation, song and conversation. He returned the following year to support and encourage youth and adults on their unique Christmas journey.
Yeager plans to continue his education at VSU and get an MBA in healthcare management.
“With the knowledge and experience I have gained through this training program, I will help improve the quality of healthcare management and improve outcomes in an institution where I have the honor of working in the future,” he said.
Yeager attends CrossPointe Church in Valdosta, Georgia. Her supportive family includes father JD Yeager, mother Pam Yeager, grandparents Belinda and Don Yeager.
University of Tulsa officials have announced the creation of a new university that will combine several existing science and health departments and lead to more productive collaborations.
Recently approved by the TU Board of Governors, the new Oxley College of Health and Life Sciences will combine faculties of biology, chemistry, earth sciences and physics with nursing, kinesiology and rehabilitation, and communication sciences and disorders.
The move, which takes effect in fall 2023, does not involve changes to the curriculum, faculty or physical space and should not affect students, officials said.
Chancellor George Justice said: “Ph.D. with reinstatement. This restructuring, introduced by President (Brad) Carson earlier this semester, to the chemistry and physics programs demonstrates TU’s commitment to the natural sciences and provides fertile ground for the advancement of human health sciences through interdisciplinary collaboration.
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Officials said the move had received overwhelming support from professors and department heads because of its potential for undergraduate, graduate and faculty members.
Kenneth Roberts, Chapman Professor of Chemistry and Biochemistry, said: “Our department has evolved into a department of health sciences. Many of our students are medically prepared, so we look forward to a collaborative environment with the health sciences. This move opens the door for our faculty and students to participate in clinical research.”
The natural sciences at the TU are currently part of the Faculty of Engineering and Natural Sciences.
This university will now become the College of Engineering and Computer Science and the current dean, Jim Sorem, will be the new dean and will retire.
“Engineering and computer science are two of the most successful programs at the University of Tulsa, with several programs ranked in the top 5 through 25 nationally,” Justice said. “Establishing the College of Engineering and Computer Science helps us attract the most visionary and ambitious deans to lead these programs.”
At the same time, Ron Walker, clinical professor of exercise training and associate dean of health sciences, was named acting dean of the Oxley College of Health and Life Sciences.
“We welcome our colleagues in the sciences and look forward to the many collaborative opportunities this reorganization brings,” said Walker.
Notice of the editor ‘s choice of main material
Citizenship Day can also help volunteers in local counties on Election Day; and support the move of the Tulsa Oilers Animal Shelter and Ice Rink to the Promenade Mall.
This race is all about how Oklahomans treat each other. The tone of leadership is critical to success.
“We are making our recommendation based on Lankford’s performance in the legislature and the impact he could have if re-elected.”
The Tulsa World editorial team reports that in just one term, the Democrat has shown how much he can achieve in Congress if he’s willing to deal with divisions.
“Pinnell has been one of the state’s best-known advocates for tourism destinations, which was especially important during the pandemic when Americans were looking for more outdoor opportunities,” affirm.
“There are two government offices to choose from, with the high-profile selection of one veteran civil servant and one political outsider.”
“Like David (for the Corporation Commission), Russ (as State Treasurer) has experience working with legislators in a partisan environment, a skill required to lead a government agency.”
“We trust Nelson with the right attitude, determination and ability to lead public schools into the next era.” say confirm.
“Dossett, a Democrat, views his district as moderate. We believe Dossett has a proven record of serving the best interests of his district and state.
Voters in the home counties east of Tulsa will benefit the most from the election of an incumbent for HD 12 and HD 23.
We believe that Schreiber’s experience as an elected official and his in-depth knowledge of public administration will be an asset to the 70th Circuit. He is a moderate person who can get started right away.
He knows the different districts well and advocates for laws that are based on the interests of the voters. Despite being in the minority party, he has proven to be an effective lawmaker, reports the Tulsa World.
“City councilors who see this position as a party spokesman or as a stepping stone to higher office are ineffective.” say confirm.
“Both district judge candidates, Tanya Wilson and Kevin Gray, come from similar backgrounds. “We favor Wilson because of his experience as a special judge.” say confirm.
County Commissioner Stan Sully and County Clerk John Wright have demonstrated criminal records worthy of a second term, the filing says.
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Good evening. My name is Colby and I will chair today's conference. At this time, I welcome everyone to the Exact Sciences third quarter 2022 earnings conference call. [Operator instructions] I'll transfer the call to Megan Jones now.
Megan Jones – Executive Director, Investor Relations
Thank you Colby and thank you all for joining the Exact Sciences Q3 2022 conference call. Today's guests are Kevin Conroy, President and CEO of the company. and Jeff Elliott, our Chief Financial Officer and COO. Everett Cunningham, our commercial director, is also available to answer your questions. Exact Sciences issued a press release this afternoon detailing its third quarter financial results.
This press release and tonight's show are available on our website at the website. During today's conference call, we will make forward-looking statements based on current expectations. Our actual results could differ materially from these statements. Discussions of non-GAAP numbers and reconciliations to GAAP numbers are available in our results press release and detailed scientific descriptions of risks and uncertainties are included in our filing with DRY.
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This article is a transcript of that conference call prepared for The Motley Fool. Although we try to do our best, this text may contain errors, omissions or inaccuracies. As with all of our articles, the Motley Fool is not responsible for your use of this content, and we strongly encourage you to do your own research, including listening to the call itself and reading the company profiles. with SEC. Please read ourTerms and Conditionsfor full details including the mandatory disclaimer in capital letters.
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Both are available on our website. I'll transfer the call to Kevin now.
Kevin Conroy – President and CEO
Our third quarter results demonstrate the strength of our business and the unique platform this team has created to engage patients and physicians. Together, we strive to help fewer people make the transition to cancer patients and improve their care. During the quarter, we had record revenue of $523 million, up 20%, excluding COVID-19 testing. We're increasing our full-year revenue guidance by $33 million while reducing operating expenses by $113 million.
We are also working to bring Adjusted EBITDA revenue back to Q3 2023 versus our previous 2024 target. We are building an unstoppable engine that will enable us to achieve our vision of helping to eradicate cancer. Our outstanding approach starts with world-class science and scientists developing tests that precisely match patients' real needs. Once launched, these tests are immediately supported by our wide-scope, deep-relationship sales and marketing teams.
Our renowned test, complex patient navigation system, electronic ordering and tracking system, extensive laboratory capacity and deep motivational relationships will support new cancer tests with modest additional investments. This will drive sales growth and profits that we will invest in better cancer testing and solutions for patients. As we rapidly approach profitability, this engine will gain momentum with each new test that makes it onto the podium. Other achievements in the third quarter included delivering a total of 960,000 tests, including a record number of Cologuard and Oncotype DX results to patients, improving EBITDA loss by more than 70% sequentially and 86% sequentially. Cologuard will give patients more time to return their samples to our laboratory, demonstrate the strength of our approach to early detection of multiple cancers at the European Society of Medical Oncology conference, and put our genetic cancer risk test to the test. Early Access. the program.
Jeff will now review our financial results.
Jeff Elliott – Chief Financial Officer and Chief Operating Officer
Thanks Kevin I wish you a nice day. Third-quarter revenue increased 15% to $523 million, or 20% excluding COVID testing. Screening revenue increased 29% to $361 million, including three growth points in preventive genetics.
10,000 new healthcare providers ordered from Cologuard during the quarter, and more than 292,000 orders have been placed since its launch in September. Precision Oncology revenue increased 4% to $151 million, or 9%, excluding a negative $2.9 million and the sale of our prostate business. COVID testing revenue fell 64% to $11 million. GAAP gross margin for the third quarter was 68%.
Non-GAAP gross margin, which excludes amortization of acquired intangible assets, was 72%. This was slightly better than expected as the team found ways to partially offset inflation. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were a loss of $13 million, up $33 million sequentially. We ended the quarter in cash and about $670 million in stock.
Our total liquidity is approximately $900 million including our available credit facilities. During the quarter, we extended our $150 million revolving credit facility by two years to 2025. In addition, we have up to 100 million US dollars available for our claims. We have come significantly closer to our goal of positive adjusted earnings.
Thanks to the focus of our team, we now expect to deliver a positive Adjusted EBITDA result from the third quarter of next year, well above our previous target for 2024 to drive growth. Efficiency and early profits while maintaining a strong liquidity position. Browse our guide. We now expect total annual sales to be between $2.025 billion and $2.042 billion.
Testing revenue is expected to be $1.375-1.382 billion, including PreventionGenetics revenue of $40-42 million and Precision Oncology revenue of $595-600 million, including cash flow of 2.9 Millions based on current rates and COVID testing sales of $55-$60 million. Million. Million. Go to the Annual Operating Expense Guide. We reduced sales and marketing spend by $45 million and are now expecting between $825 million and $845 million. We're seeing significant impact in sales and marketing, and we now expect spend to be down about 3% year over year on Cologuard's growth of more than 25%.
We're also reducing G&A spend by $30 million and now expect between $740 million and $760 million. We expect R&D spend to be between $390 million and $405 million, down $38 million. The team becomes more efficient by prioritizing our most impactful projects and reducing factory rents. We still anticipate approximately $200 million in capital expenditures.
I'll transfer the call to Kevin now.
Kevin Conroy – President and CEO
thanks jeff Cologuard has become synonymous with colorectal cancer prevention. It's the standard of care because it's accurate, it's a convenient home test. It is included in all major guidelines and quality metrics and is almost universally covered by insurance at no cost to the patient.
Proof that Cologuard has become the preferred testing standard is the nearly 10 million people who have completed the test. More than 150,000 healthcare providers placed orders in the third quarter, a new record. From the first week of August to the last week of October, we've seen a 25% increase in orders since the beginning of 2021 and a nearly doubling in net action points. The more a healthcare provider orders Cologuard, the more ingrained they become in it. Exercise.
Barring disruptions caused by COVID, each new batch of vendors requires more Cologuard testing each year. We've added 65,000 new healthcare providers since the beginning of last year and we expect they will follow a similar trend and increase their application rate every year. We took advantage of our new generation of Cologuard by releasing an improved kit in September. Our talented team of scientists has developed a new protein preservative to extend sample shelf life by 33%.
This gives patients more time to return their completed Cologuard kits to our laboratory before the sample expires. We expect this to increase the number of completed trials by more than one percentage point in the coming year, which will improve Cologuard's top line and margins. The scale and reach of Exact Science, with a 1,000-person primary care sales and marketing team and millions of patient and provider touchpoints each year, will help maintain our leadership position in colorectal cancer testing. We will lead by focusing on what is best for each patient.
Colorectal cancer is the second leading cause of cancer deaths in the United States, with more than 151,000 new cases and 53,000 deaths annually. While screening rates have increased over the past 20 years, morbidity and mortality have decreased by 35% and 40%, respectively. The most effective screening tools help prevent disease by detecting earlier types of cancer before they become cancer. Early detection of cancer accounts for two-thirds of the light-year play of screening, and early detection of cancer provides the rest.
That's why we created Cologuard, and it makes a difference. Since it detects 42% of all precancerous lesions, 69% of advanced cancers and 94% of stage 1 and 2 cancers, we estimated that it has helped around 315,000 precancerous and 46,000 early stage cancer patients. About 90% of people over 45 see a Cologuard ad once a week. Our sales team meets with physicians and their staff millions of times a year.
We will use each of these touchpoints to ensure patients and providers understand that Cologuard is the best non-invasive test and the appropriate role a blood test should play. Oncotype DX provides the foundation of precision science to guide every stage of a cancer patient's life. We leverage their strong brand and strong relationships in oncology to launch new products such as the genetic cancer screening test. The Riskguard program helps people understand their genetic cancer risk and the genetic makeup of their tumors, providing them with critical information to make better treatment decisions.
Next year, we plan to offer additional genomic testing to patients, oncologists, our biopharmaceutical partners, and academics, including minimal residual disease and better treatment selection through RNA analysis. Combining information from our tests at different stages of cancer treatment will provide a more complete picture of each patient's disease. Our presentation of early detection data for multiple cancer types at ESMO in September showed significant progress toward our goal of providing patients with the best multi-cancer blood test. Combining four classes of biomarkers and different techniques in a large, well-designed case-control study, our tests detected 61% of cancers with a specificity of 98.2% for 15 different organ types, including 11 with no screening option.
The addition of pooled DNA mutation markers identified by next-generation sequencing to methylation, aneuploidy and protein markers improved the detection of stage 1 and 2 cancers by 35%. Next, we plan to conduct a larger case-control study to further improve the test, finalize its design, and then begin recruitment of SOAR, our potential interventional study, to support FDA approval. Exact Sciences is uniquely positioned to meet two of the most critical patient needs: minimal residual disease and repeat surveillance for breast and colon cancer. We have relationships with most oncologists in the United States
Approximately 170,000 early breast cancer samples are sent to our laboratory each year. Each sample represents an individual who may benefit from the minimal remaining disease tests. By screening millions of people each year with Cologuard, Exact Sciences is at the forefront of helping people at high risk of developing colorectal cancer and improving outcomes for these patients. We're the only company planning to offer oncology and cancer testing, allowing oncologists with a partner in the lab to use the best test for each patient.
We plan to share marker discovery data supporting our approach to tumor-free breast cancer at the San Antonio Breast Cancer Symposium in December. We also plan to present the results of our oncology and tumor-free methods for colorectal cancer at ASCO GI in January. Exact Sciences has the right team, a unique financial profile and the broadest and strongest foundation in cancer diagnosis. Continued teamwork, a gross margin in excess of 70%, a clear path to profitability next year, and a leading presence in precision cancer screening and oncology places us in the best position to eradicate cancer and the suffering it causes.
We are happy to answer your questions now.
Questions and answers:
operator or operator
[Operator instructions] Your first question comes from Brandon Couillard Jeffreys. Your line is open.
Brandon Couillard – Jeffrey – Analyst
hello thank you I wish you a nice day. i will ask a question Kevin, OPEC's lowering of the full-year outlook is very important.
Can you show us where exactly this is coming from, be it the number of people or other software?
Kevin Conroy – President and CEO
Well, I think all of our people, from the front line to the executive team, have to have a very strong focus on us to make sure we deliver on our promise that we made a few quarters ago to take the company quickly to profitability. . I think Jeff will have more colors.
Jeff Elliott – Chief Financial Officer and Chief Operating Officer
Yes indeed! Thanks Brandon The team has done a great job focusing on the world's largest impact programs. And when you talk about sales and marketing, they do a really good job of making sure we target the right doctors and allocate the financial resources appropriately to the different marketing levers that we need to pull.
I think what you're really seeing here is a game changer. We're talking about the platform we've built over the years. This was an important contribution. But now you're really starting to see the platform part of it.
With the growth of Cologuard, we saw growth of 25% in the quarter while sales and marketing were down 5%. As time goes by, it will become clear where this foundation leads in situ. It will now spawn two very strong profitable brands in the market and, over time, become a cash-flow generating machine.
operator or operator
Your next question comes from Derek De Bruyne of Bank of America. Your line is open.
Derek De Bruyneis an analyst at Bank of America Merrill Lynch
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. բարելավում ցույց տալի տալի ուժերի ուժերի ուժերի արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ արդյունավետ
Այն, ինչ այնտեղ ստացանք միջազգային միջազգային աճն մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ ամն ամն ամն տեսնում եք բարելավված դուրս ամն ամն բարելավված ամն ամն Response code:
???????????????????????????????????????????????????????????????????????????????????????????????? level it is what it is. Contact January 30 January:
Եվ այն այն ինչ ենք հասնելու հասնելու համար այն թափին մենք մենք ունենք ունենք ունենք ունենք ունենք է և և թիմին դեպի մատակարարների աճող աճող, ավելի 150,000: փաստը փաստը փաստը փաստը փաստը փաստը փաստը փաստը փաստը որ ????????? ?????? ?????? ?????? ?????? ?????? ?????? ????????? ????????? ???????????????????????????????????????????????????????????? itself it itself what it is.
Excuse me
Nephron Research – Current date: Current date:
Ջեք Միհան– ESA –
Excuse me. ײարի օր. ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????##???####???################################################################################################################ but=2023 թ.
Լավ տեսնել եռամսյակի որոշ տարեվերջին տարեվերջին պատվերի պատվերի: ինձ էր էր էր էր թե կա՞ն կա՞ն մտքեր որոնք կիսվել կիսվել կիսվել կիսվել դիրքավորման երրորդ եռամսյակում եռամսյակում եռամսյակում եռամսյակում բայց ինչպե՞ս եք ????????? ????????? ?????????????????????????????????????????????????????????????????? level
Դե ، սա քևինն քևինն քևինն ، ես եմ այժմ այժմ այժմ ինչ այլ բան ունենում ունենում ունենում Co-cologuard- հետ հետ ، կապված կապված կապված կապված կապված տեսել եք մեր զուտ են են 21-ի առաջին iod شيء և ????????? ????????? ???????????? ??????????????????????????????????????????????????? this this this it's date:
. հաճախ է օգտագործվում բժիշկների շրջանում շատ շատ դանդաղ և և և և և և և և և և և և և և և և նոր նոր: մենք միշտ ենք շատ շատ նման ط ط ط ط ط ط ط ط ط ط ط ط ط جامبو ، հրթիռային քան եվ այն ինչ դուք սկսում եք եք այն այն այն որ այն այն ավելի է:
Մեր Cologuard- ի խորն օգտագործող բժիշկների բժիշկների բժիշկների բժիշկների բժիշկների բժիշկների տվյալների հետաքրքիր է է ենք ենք եռամսյակում եռամսյակում մոտ մոտ մոտ մոտ մոտ մոտ մոտ մոտ ծառայություններ պատվերներ եվ պայմանավորված պայմանավորված պայմանավորված է է անհավանական անհավանական թիմերով մեկը մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային մարքեթինգային, մեր, տիրապետել է գովազդին գովազդին գովազդին և՛ և՛ ՛ թվային սպառողին սպառողին ինչպես նաև նաև վաճառքի ուժին ուժին է ընթացքում և և դրանից հետո հետո շարունակելու ծառայությունն եր մատուցողներին մատուցողներին մատուցողներին և այժմ ավելի ու շատ շատ շատ Cologuard պատվիրելու համար և պետք է օգտագործվի իրենց իրենց
Այսպիսով, ինչ-որ բան է միգուցե: միգուցե, ջեֆ, դու ես տարվա տարվա համար ավելի ավելի տալ:
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Այո՛։ Սովորաբար ուղեցույց ենք տրամադրում չորրորդ եռամսյակի եռամսյակի զանգի վերաբերյալ, և ծրագիրն ծրագիրն հիմա է է է եք եք հաջորդ տարվան կարծում կարծում կարծում կարծում ես ես ես այս թափը թափը տեսնում ենք երրորդ երրորդ, և մեզ մեզ է տանում չորրորդ եռամսյակ, պետք շարունակվի նաև հաջորդ տարի: ինչպես քևինը ասաց, մենք շատ լավատես ենք երկարաժամկետ:
????????? ??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? this this time it's also the same. Երբ եք բժշկի գրասենյակ մուտք գործելու ինչպես ասաց ասաց ասաց նորմալ նորմալ չի վերադառնում վերադառնում դեռ չափով չափով է խլացված խլացված խլացված խլացված իսկապես լավ աշխատանք է է աշխատելով վրա դրա դա դա, երբ եք եք հաջորդ:
Նաև վերասկրինինգային բիզնեսում դա ֆենոմենալ աճի ուժ ուժ եղել է այնուամենայնիվ, եթե հիվանդների այդ այդ այդ մասին խմբի, որոնք կլինեն կլինեն տարի, մենք, կհամապատասխանենք covid- տարիներին, որպեսզի այդ տարեկան տարեկան կտրվածքով կտրվածքով: Ես իսկապես եմ եմ, որ կաճեն հաջորդ հաջորդ, բայց է այն, որ չի ապահովի այնքան այնքան այնքան աճող աճող աճող եղել է է վերջապես վերջապես, տարի, դուք կստանաք Medicare սեկվեստրի ամբողջական ամբողջական, որը սկսվել սկսվել կեսերին:
Եվ պահանջում է է Medicare ի ամբողջ ամբողջ, այնպես որ դրա տարին տարին տարին հաջորդ տարի այսպիսով, ինչ պետք է հիշել հիշել հիշել չորրորդ եռամսյակի եռամսյակի կտրամադրենք ամբողջական ուղեցույց ուղեցույց շատ շատ լավատես լավատես
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? value
Էնդրյու Բրաքման – ?????????????????????????????????????????????????????????????????????????????????????????????????????????????????? level ??????????????????????????????????????????????????????????????? level what what time level it is what it is
?????? ?????? ?????? ???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? level. Շնորհակալություն հարցերն ընդունելու համար և ուրախ եմ վերադառնալ այս զանգերին: Միգուցե մենք կարող ենք սկսել պարզապես հաշվի առնելով որոշ նորություններ, որոնք սպասվում են առաջիկա մի քանի շաբաթների ընթացքում այստեղ տարածության մեջ:
Քևին, կարո՞ղ եք նորից մեզ հավասարեցնել այն դերի մասին, որը պետք է խաղա նախաքաղցկեղային հայտնաբերումը այս թեստերում: Կարծում եմ, դուք կրկնեցիք մի քանի նախորդ մեկնաբանությունները նախաքաղցկեղից ստացվող օգուտի 2/3-ի մասին: Ուրեմն կարո՞ղ եք պարզապես մեզ մի մակարդակ տալ, թե ինչպես եք մտածում դրա մասին նորից: Շնորհակալություն.
Քևին Քոնրոյ – Նախագահ և գլխավոր գործադիր տնօրեն
Այո իհարկե. Շնորհակալություն. Այսպիսով, առաջին հերթին հսկայական տեղ կա զննման դրույքաչափերը բարելավելու համար: 45-ից 85 տարեկան 110 միլիոն ամերիկացիներից 60 միլիոնը մնում է չստուգված:
Այսպիսով, կա ուղղակի հսկայական հնարավորություն՝ մարդկանց իրենց շոուն արագացնելու համար: Եվ մենք հավատում ենք, որ մեր արյան անալիզը դեր կունենա ցուցանիշների բարելավման գործում: Բայց մինչ օրս մեր թեստը մենք տվյալներ չենք ցույց տվել, և չկա որևէ հեռանկարային տվյալ, որը ցույց կտա, որ նախաքաղցկեղային հիվանդության հայտնաբերումն այդքան նման է FIT թեստին, որը կազմում է 24%: Եվ ես վերադառնում եմ այն ժամանակ, երբ մենք սկսեցինք Cologuard-ը 13 տարի առաջ, հիմնական բաներից մեկը, որի վրա մենք կենտրոնացանք, նախաքաղցկեղային պոլիպների հայտնաբերումն էր, որոնք 10-ից 15 տարի պահանջվում են քաղցկեղի վերածվելու համար:
Եվ սքրինինգի բազմաթիվ փորձերի դեպքում դուք կարող եք իրականում կանխել հիվանդությունը: Երբ նայում եք ԱՄՆ-ում արգանդի վզիկի քաղցկեղից մահացությունների կտրուկ նվազմանը, դա պայմանավորված չէ նրանով, որ ՊԱՊ թեստը քաղցկեղ է հայտնաբերել: Դա պայմանավորված է նրանով, որ այն հայտնաբերել է նախաքաղցկեղային վնասվածքներ, որոնք հանգեցնում են քաղցկեղի: Եվ ահա, որտեղ դուք տեսաք, որ մահերի թիվը տարեկան 45000-ից իջել է կանանցից մինչև 4500 կամ ավելի:
Եվ այսպես, ցանկացած սկրինինգային թեստի նպատակը պետք է լինի նախաքաղցկեղային հիվանդությունների հայտնաբերումը, այնուհետև I կամ II փուլերի քաղցկեղի հայտնաբերումը բարձր արագությամբ: Եվ մենք գիտենք, որ կոլոնոսկոպիան լավ է հայտնաբերել 1-ին և 2-րդ փուլերի քաղցկեղը: Cologuard-ը հայտնաբերում է քաղցկեղի 1-ին և 2-րդ փուլերի 94%-ը: Արյան թեստերը չեն հայտնաբերի քաղցկեղի 1-ին և 2-րդ փուլերի 94%-ը:
Այսպիսով, եթե դուք նայեք բնակչության այդ շոուներին, եթե տեսնեք, որ 100 մարդ ստուգվել է Cologuard-ով և արյան անալիզով, կարող է լինել, չգիտեմ, 10 մարդ, ովքեր կգտնեն Cologuard-ը, բայց արյան անալիզը չի գտնի: Եվ ահա թե ինչու շատ կարևոր է գտնել այդ 1-ին և 2-րդ փուլերի քաղցկեղը: Եվ այսպես, արյան անալիզը դեր կխաղա: Այժմ կարող է խնդիր լինել արյան անալիզները ուղեցույցներում ներառելու հարցում, քանի որ նրանք կրկին դիտարկում են մոդելավորումը և կատարված մոդելավորումը, կյանքի տարիների երկու երրորդը ստացվել է նախաքաղցկեղային հայտնաբերումից:
Այսպիսով, այստեղ որոշակի մարտահրավերներ կլինեն: Եվ առանց ուղեցույցների մեջ մտնելու, դուք չեք մտնում HEDIS կամ Stars որակի չափանիշների մեջ: Եվ առանց դրա, իսկապես դժվար է թեստ սկսել: Այս ամենի համար մի քանի տարի կպահանջվի:
Եվ մենք նախատեսում ենք համօգտագործել մեր ստեղծած տվյալները, ներառյալ արյան վրա հիմնված մեր CRC թեստի վերջին տվյալները: Եվ ես պարզապես ուզում եմ հիշեցնել մարդկանց, որ մեծ ներդրումը անհրաժեշտ էր մասնակցելու որպես լուրջ խաղացող և որպես հաստ աղիքի քաղցկեղի զննման գործիքների լուրջ մատակարար: Այսօր մենք մոտ 4 միլիարդ դոլար ենք ներդրել մեր հիվանդների ներգրավման շարժիչում, մեր առևտրային թիմում, մեր 320,000 քառակուսի ոտնաչափ լաբորատոր տարածքում և, ամենակարևորը, առողջապահական համակարգի 250 միակցիչների մեջ, որոնք Epic-ն օգտագործում է Cologuard-ի էլեկտրոնային եղանակով և պատվիրելու համար: ստանալ արդյունքներ. Այսպիսով, շատ կարևոր նպատակ է ավելի շատ մարդկանց ընտրելը:
Եվ ես ուզում էի — մեկ այլ մեկնաբանություն այն է, որ մենք վերջերս ստացել ենք որոշ արձագանք FDA-ից մեր արյան անալիզների վերաբերյալ: Եվ նրանք պարզ էին, ինչպես պարզ էին Cologuard-ի դեպքում, որ կա նախաքաղցկեղային հայտնաբերման ակնկալիք: Այսպիսով, նրանք ասացին, որ որոշակի ակնկալիք կա քաղցկեղի հայտնաբերման զգայունության, նախաքաղցկեղային հայտնաբերման, ինչպես նաև կոնկրետության կամ կեղծ դրական ցուցանիշի շուրջ: Սրանք երեք շատ կարևոր չափումներ են, որոնք դուրս կգան մեր արյան CRC ուսումնասիրությունից:
Եվ սրանք լուրջ գիտական բաներ են, որոնք դեռ պետք է հաստատվեն, և մենք անհամբեր սպասում ենք, որ մեր տվյալները կկիսվենք ձեզ հետ մեր ուսումնասիրության ավարտից հետո:
Օպերատոր
Ձեր հաջորդ հարցը գալիս է Goldman Sachs-ի Մեթ Սայքսի տողից: Ձեր գիծը բաց է:
Անհայտ խոսնակ – Goldman Sachs – վերլուծաբան
Բարև տղաներ։ Դա Դեյվն է Մեթ Սայքսի համար: Կարո՞ղ եք ավելին ասել, թե ինչն է նպաստել Oncotype-ի կատարողականին եռամսյակում:
Ջեֆ Էլիոթ – Գլխավոր ֆինանսական տնօրեն և գլխավոր գործառնական տնօրեն
Այո, դա Ջեֆն է: Ես կվերցնեմ այդ մեկը: Ես նախկինում խոսեցի ԱՄՆ-ից դուրս շատ ուժեղ աճի մասին, որը 26% աճեց՝ ճշգրտված FX-ի համար: Այսպիսով, ես կասեի, որ դա դրա մի մասն է:
Մենք նաև տեսնում ենք շարունակական շատ ուժեղ թափ հանգույցի դրական ցուցիչում: Հիշելով, որ սա ավելի նոր ցուցանիշ է՝ շնորհիվ մի քանի տարի առաջ հրապարակված պատասխանների տվյալների՝ դեռ տեսնելով այնտեղ շատ լավ ընկալում: Եվ վերջապես, կարծում եմ, որ այն բավարար ուշադրության չի արժանանում, բայց մենք ունենք թերապիայի ընտրության բավականին զգալի բիզնես, որը շարունակում է թափ հավաքել: Հաջորդ տարվա սկզբին մենք կունենանք լրացուցիչ արտադրանքի թողարկում այնտեղ:
Կարծում եմ, որ դա – ես կասեի, որ դա լավ քառորդ է այդ թիմի կողմից:
Օպերատոր
Ձեր հաջորդ հարցը գալիս է Էվերկորի Վիջայ Կումարի տողից: Ձեր գիծը բաց է:
Քևին Քոնրոյ – Նախագահ և գլխավոր գործադիր տնօրեն
Վիջայ, մենք չենք կարող քեզ լսել: Ես չգիտեմ, թե դու հիմար ես: դու ներս ես։ Կոլբի, եթե կարողանանք գնալ հաջորդ զանգահարողին:
Մենք կվերադառնանք քեզ, Վիջայ:
Օպերատոր
Ձեր հաջորդ հարցը գալիս է Քոուենի և ընկերության Թոմաս Սթիվենսի տողից: Ձեր գիծը բաց է:
Թոմաս Սթիվենս – Քոուեն և ընկերություն – վերլուծաբան
Շնաձուկ. Ես կհերձեմ իմ հարցը, այնպես որ այստեղ ընդամենը մի տեսակ կրկնակի: Այդ հզոր օգտատերերի մասին, որոնք դուք բավականին քննարկեցիք, տեսաք որոշակի հակառակ քամիներ, պարզապես թարմացում ձեր նախկինում բարձր կարգի մասին Cologuard-ի բժիշկներում: Իսկ երկրորդի տեսակն այդ հարցի արդյունքն է:
Կարծում եմ, եթե դուք նայեք 2027-ին արյան մեջ, Medicare-ում, ապա ինչպիսի՞ հնարավորություն եք տեսնում այնտեղ երկամյա փորձարկման համար: Իսկ ինչպիսի՞ բնակչություն եք տեսնում ձեր թեստի հետ ներգրավվելու համար: Շնորհակալություն.
Ջեֆ Էլիոթ – Գլխավոր ֆինանսական տնօրեն և գլխավոր գործառնական տնօրեն
Շնորհակալություն, Թոմ: Սա Ջեֆն է։ Ես կսկսեմ – կարծում եմ, որ ձեր մեկնաբանությունը հզոր օգտագործողների մասին, և գուցե Էվերեթը կարող է լրացնել նաև այստեղ: Մենք նախկինում խոսել ենք տարբեր խմբերի մասին:
Կարծում եմ, այստեղ արդյունքներն իսկապես ցույց են տալիս, որ մենք տեսել ենք օգտագործման լայնածավալ բարելավումներ: Անկախ նրանից, թե դուք դիտարկում եք տարբեր խմբեր՝ հիմնվելով բժիշկների առաջին պատվիրման վրա, տախտակամածում կան որոշ տվյալներ, որոնք մարդիկ առաջին անգամ են տեսնում: Անկախ նրանից, թե երբ եք առաջին անգամ պատվիրել, պատվերի տոկոսադրույքը կշարունակի բարձրանալ, ինչը իսկապես հզոր է տեսնել, հատկապես, երբ հաշվի առնեք բոլոր նոր բժիշկները, որոնք մենք ավելացնում ենք: Եթե դուք բաժանում եք բժիշկներին՝ ելնելով նրանց կարգի մակարդակից, մի տեսակ լայնորեն նաև այնտեղ, անկախ նրանից, թե ինչ-որ կերպ դեպի վերևում եք, թե ավելի նոր՝ Cologuard-ում, մենք տեսնում ենք օգտագործման շարունակական ուժեղ աճ:
Այսպիսով, սրանք են ընդհանուր միտումները: Չգիտե՞մ, Էվերեթ, այնտեղ ավելացնելու բան կա՞:
Everett Cunningham — Handelshoof
Yes. Ek sal 'n bietjie byvoeg. Ek het die afgelope paar kwartale baie tyd in die veld spandeer. En die manier waarop ons kommersiële organisasie daarna gekyk het, Thomas, is 'n bietjie eenvoudiger.
Wat hulle doen, is dat hulle kyk na, waar is die groeigeleentheid vir Cologuard. En ons het teikens, ons het prioriteite waarop ons fokus, soos herskermgeleenthede, 45 tot 49 geleenthede. En waar daardie geleenthede is, gaan ons en ons maak die oproep. En ons het dit afgekook tot hoe meer kwaliteit oproepe ons maak met daardie teikens, hoe meer dit, skryf PCP Cologuard.
En so spoor ons ons verteenwoordigers aan om elke dag uit te gaan, op die prioriteite te fokus, op die geleenthede te fokus en Cologuard te laat groei. En ek dink dit is die rede waarom ons voortgaan om goeie kwartaal-tot-kwartaal groei te hê.
Jeff Elliott — Finansiële Hoof en Bedryfshoof
Tom, ek neem die tweede vraag, wat oor die bloedgeleentheid in 2027 was. Kyk, soos Kevin gepraat het, het hy oor die breër raamwerk gepraat. Ek wil net byvoeg dat dit tyd gaan neem. As jy dink aan die struikelblokke wat jy moet deurkom, of dit nou eers die ontwikkeling van die toets is, ingaan by die riglyne, kwaliteitsmaatreëls, FDA, Medicare, daar is 'n hele reeks dinge wat moet gebeur.
En as jy terugkyk na Cologuard, reg, dit neem ongeveer vier tot vyf jaar ná bekendstelling vir al daardie dinge om in die spel te kom. So I think in the 2027 time frame, which is what you asked, I think the opportunity there is still relatively minimal. Potentially, you could see blood being positioned for specific niches of the market. One that stands out to us is somebody who, say, over the age of 75, where perhaps at that age, pre-cancer detection may be less important, but — and they're likely on Medicare.
Commercial insurance, broad adoption is going to take longer than that. For that, you need to be in USPSTF guidelines, you need to be in the quality measures. And I don't see that coming together in 2027.
Operator
Your next question comes from the line of Patrick Donnelly from Citigroup. Your line is open.
Unknown speaker — Goldman Sachs — Analyst
Hey, there. You've got Jason on for Patrick. Maybe just one. I know you're not giving '23 guidance right now, but just at a high level, thinking about the goal of being adjusted EBITDA positive in the third quarter next year.
How should we be thinking about gross margins next year, some of the moving pieces there, like inflation, FX and then kind of where automation and rescreens fit into that? Thanks.
Jeff Elliott — Chief Financial Officer and Chief Operating Officer
We'll give more color on this on our fourth quarter call, but it helps — it starts with a really strong growth drivers in both Cologuard and Oncotype. Both are profitable today. We expect continued momentum into next year. From a gross margin standpoint, obviously, there are headwinds out there.
There are headwinds out there, they're not unique to us, with inflation, with fuel, supply chain, complexities with COVID. So there's a lot of pressures there. The team did a really nice job of offsetting that. I think when I look at Q4 and the near term here, I think margin is pretty similar to Q3, maybe down a hair just based on the seasonal trends with revenue into next year, inflation is still the wild card.
So we'll talk more about that. Longer term, gross margin, we're very optimistic there because again, the team has done a really nice job building the foundation that we can scale. So we expect nice margin improvement over time. From an operating expense standpoint, again, I think a hallmark of what you saw in the third quarter, the team has done a nice job finding efficiencies throughout the business.
I think that will continue throughout next year. Next year, we do have the STORE study started for multi-cancer, that will be some additional R&D. Otherwise, we expect continued efficiencies throughout the P&L.
Operator
Your next question comes from the line of Vijay Kumar from Evercore. Your line is open.
Vijay Kumar — Evercore ISI — Analyst
Hey, guys. Thanks for taking my question. And congrats on the steady execution here. Maybe my question here on the cash flows, Jeff.
This is a pretty impressive quarter in terms of cash burn rate. Are we now looking at the Exact Sciences exiting fiscal '23 perhaps being cash flow neutral to positive? How should we think about operating expenses? And maybe just give us some color, Jeff, on what changed. Is this a function of Exact holding back expenses? And is that going to come at the cost of revenue growth or are these structural changes which are sustainable? Dankie.
Jeff Elliott — Chief Financial Officer and Chief Operating Officer
Thanks, Vijay. As Kevin talked about, it's not either or, it's growth with efficiencies and a focus on profitability. I don't think this is a shift or change in the business. We've been talking for years about building the foundation that will not only get us to profitability, but allow us to punch through and continue to generate improving margins, steady cash flow generation for years and years to come.
And you're now — I think we're at that turning point now, we're at that turning point where you're really starting to see that fall through. As far as next year, we're excited to pull ahead the EBITDA profitability on a free cash basis, likely lags that a little bit. What's helping recently is that we've had some really nice improvement in working capital management. You see DSOs down 16 days year on year.
Inventory turns continue to improve. So the team has done a really nice job with a heightened focus on profitability and cash flow.
Operator
Our next question comes from the line of Kyle Mikson from Canaccord. Your line is open.
Alex Vukasin — Canaccord Genuity — Analyst
Hi. Alex Vukasin online for Kyle Mikson. Congratulations on the quarter. And one brief question for you.
So there's probably little value baked into the stock really for multi-cancer, MRD and liquid biopsy test. Why don't you think investors are taking these assets seriously? And what are you going to do to reinvigorate excitement in these promising potential long-term growth drivers? Dankie.
Jeff Elliott — Chief Financial Officer and Chief Operating Officer
This is Jeff. I'll take that one and maybe Kevin can jump in. Look, we're focused on executing on the business, starting with Cologuard and Oncotype, making sure the foundation is there. And we're in the middle of this period where it's an intense data readout period for our pipeline.
We started this year with really strong data on Cologuard 2, we shared some additional data on our MRD program at ASCO and then just in September, shared the data on NSABP, we thought it was all really good data. Looking ahead, this robust period of pipeline data continues. When you look ahead to — in this month, there's additional data coming out on our NSABP program. Next year, as Kevin talked about, our top-line readout starting with BLUE-C, data on our colon cancer blood program.
And over time, I think as investors fully appreciate this, look, we're optimistic here. Not only we can continue delivering on the core on-market programs, but we have a really robust growth in store throughout the pipeline.
Operator
Your next question comes from the line of Alex Nowak from Craig-Hallum Capital Group. Your line is open.
Alex Nowak — Craig-Hallum Capital Group — Analyst
Hey. Great. Good afternoon, everyone. A couple of calls this evening, so apologies if you already addressed this.
But I was just hoping if we can get your latest ideas on M&A in the genomics space. We've seen the valuations come down across the sector. Does that make it more appealing to slot some of these names into this Exact Sciences commercial engine? What are you looking for? Is it new capabilities or would you rather add established products in the bag?
Kevin Conroy — Chairman and Chief Executive Officer
Well, our primary focus is on Cologuard, Oncotype and then three pretty remarkable opportunities in colon cancer screening, both stool and blood, multi-cancer screening, which probably has the biggest potential for impact in human health of any diagnostic ever developed. And then also minimum residual disease testing. Our philosophy on M&A hasn't changed. We'll consider it if three conditions are met.
Number one, it contributes to our long-term strategy. Two, the company is a good culture fit. And three, it creates shareholder value. So no changes there in our focus.
I'd point out that we added a prevention genetics team. It's an amazing talented team. It's added over $40 million of profitable revenue in a new product line, Riskguard. And so it's all about quality and strategic fit.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Megan Jones — Senior Director of Investor Relations
Kevin Conroy — Chairman and Chief Executive Officer
Jeff Elliott — Chief Financial Officer and Chief Operating Officer
Brandon Couillard — Jefferies — Analyst
Derik De Bruin — Bank of America Merrill Lynch — Analyst
Everett Cunningham — Chief Commercial Officer
Catherine Schulte — Robert W. Baird and Company — Analyst
Jack Meehan — Nephron Research — Analyst
Andrew Brackmann — William Blair and Company — Analyst
Unknown speaker — Goldman Sachs — Analyst
Thomas Stevens — Cowen and Company — Analyst
Vijay Kumar — Evercore ISI — Analyst
Alex Vukasin — Canaccord Genuity — Analyst
Alex Nowak — Craig-Hallum Capital Group — Analyst
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Future Stock Market Leaders? | High Relative Strength Stocks | SNAP NIO ARRY PINS + MORE
In this case, the company's warnings may increase.
Companies with too little and too much commitment achieve above-average returns in the long term. Exact Sciences Corp. could have such a surprise in store when it reports its third-quarter 2022 operating results in early November.
The leader in genetic testing previously told investors it was expecting revenue of $497.5 million in the third quarter. This includes sales of approximately $342.5 million for a colorectal cancer screening product, the only genetic testing device on the market to generate at least $1 billion in annual sales. The Company By 2022, the company forecasts sales of $2 billion, of which $1.32 billion will come from home filter devices.
The company deliberately advised cautiously. At the very least, the company is well-positioned to meet its full-year guidance and deliver healthy year-over-year growth. It could be so easy to see Cologard dominate.
During an August conference call to discuss second-quarter 2022 operating results, at least one Wall Street analyst asked management directly if it was overly conservative with its guidance. You were right.
Exact Sciences told investors it doesn't expect sales to exceed $335 million in the second quarter of 2022, but the home control device did post quarterly sales of $344 million. It was easy in the middle of the trip.
Despite the favorable pace, management hasn't raised 2022 revenue guidance for ColoGuard. Merchandise revenue is expected to remain approximately $1.32 billion for the year. Let's open the box:
The latest forecast puts colon cancer diagnostic equipment sales at $679 million in the second half of 2022. This is a relatively small increase from the $641 million paid out in the first half.
Finally, Cologard's third quarter revenue is forecast to be lower than the second quarter. This means that Cologard's sales in the fourth quarter will be below the result of the third quarter. It doesn't make much sense and doesn't follow historical sales trends.
This suggests that Cologuard could deliver another solid set of sales and strength management in Q3 to boost its 2022 sales guidance — at least as far as its core product is concerned.
Precision Science's ability to increase its 2022 revenue guidance for its integrated product portfolio may depend on the strength or weakness of precision oncology devices. Recent guidelines indicate that these tissue biopsy tests are only increasing at 4% per year. While that includes the recently sold prostate cancer device, there are more general headaches.
One thing investors should keep in mind is that Clarity's oncology portfolio is heavily exposed to international currency headwinds. A strong US dollar hurts many global companies in 2022. Exact Science derives almost all of its revenue from the US, which has an advantage over central bank monetary policy. The caveat is that international sales are becoming an increasingly large driver for the company's precision oncology devices.
In other words, the most likely scenario is probably more complicated. Solid science could benefit from the strength of Cologuard, which looks set to easily pass 2022 guidelines.
Even in these mixed conditions, business remains strong. Achieving 2022 revenue guidance of more than $2 billion represents a 13 percent increase over the prior year. That's a respectable growth rate for a company of its size — and especially when compared to a difficult operating environment that hampers many smaller rivals. Anyway, it all depends on Colorguard.
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