This Day That Year: Personalis (PSNL)

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Shares of Personalis Inc. (PSNL) are down 61 percent from their 52-week high of $31.88, recorded last June, and trade around $12.

The Company made its debut on the Nasdaq Global Select Market on June 20, 2019, by setting a public offering at $17 per share.

Menlo Park, California-based Personalis is a cancer genomics company providing sequencing and data analysis services to support the development of cancer therapies.
The Company's NeXT Platform, which provides information on all of the approximately 20,000 human genes, together with the immune system, helps its biopharmaceutical customers to obtain new insights into the mechanisms of response and resistance to therapy as well as new potential therapeutic targets.

Apart from biopharmaceutical companies, Personalis' customers also include universities, non-profits, and government entities.

NeXT Platform is designed to offer two services for its customers - ImmunoID NeXT Tumor Biopsy and NeXT Liquid Biopsy (in development).

-- ImmunoID NeXT helps oncology researchers to comprehensively analyze both a tumor and its microenvironment from a single tumor sample. A total of 26 customers have placed orders for NeXT as of March 31, 2020.

-- NeXT Liquid Biopsy, which is currently in development, to sequence all of the approximately 20,000 genes in the human genome, is designed to help the Company's biopharmaceutical customers identify biological changes across multiple time points for each patient in their trials that they would otherwise miss with the current, narrowly focused liquid biopsy panels. Personalis is aiming to launch the NeXT Liquid Biopsy this year.

As the Company's genomic sequencing and analytics solutions continue to gain traction in the applications of oncology research and immuno-oncology, oncology diagnostics, and whole-genome sequencing, its revenue has been growing rapidly.

Early this month, Personalis inked a collaboration with Sarepta Therapeutics (SRPT), which has expertise in precision genetic medicine, to better characterize certain types of immune response to benefit patients with rare diseases.

The Company's annual revenue, which was $9.4 million in 2017, rose to $37.8 million in 2018, and further jumped to $65.2 million in 2019. Net loss was $23.6 million or $7.78 per share in 2017; $19.9 million or $6.49 per share in 2018 and $25.1 million or $1.39 per share in 2019.

The quarterly net loss in the first quarter ended March 31, 2020, was $9.1 million or $0.29 per share on revenue of $19.2 million. This compared with a quarterly net loss of $5.7 million or $1.84 per share and revenue of $14 million in the year-ago quarter.

Personalis ended March 31, 2020, with cash, cash equivalents, and short-term investments of $120.0 million.

PSNL has traded in a range of $4.27 to $31.88 in the last 1 year. The stock closed Friday's (June 19, 2020) trading at $12.45, up 2.72%.

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