Personalis reports preliminary Q4 revenue $19.7M, consensus $19.62M

Preliminary cash, cash equivalents, and short-term investments is estimated to be $114M as of December 31, 2023, and is expected to last through the first quarter of 2026, as a result of 2023 cost-cutting measures which reduced expenses by approximately $35M annually. “Our strong fourth quarter performance caps off a remarkable year where we delivered on our commitments to investors,” stated Chris Hall, President and CEO of Personalis. “To touch on a few highlights, over this past year we launched our NeXT Personal Dx ultrasensitive MRD product, deepened clinical evidence to support obtaining reimbursement, presented unprecedented clinical evidence for early-stage lung cancer detection at medical conferences, expanded our relationships with research collaborators, and forged a new strategic commercial partnership with Tempus to commercialize and ramp our MRD product, all while reducing our annualized expenses by $35 million. I’m very proud of our progress and we expect to further leverage our clinical and commercial strength to drive more success in 2024.”