Guardant Health, Inc. (NASDAQ:GH) Q2 2023 Earnings Call Transcript

Helmy Eltoukhy: Yes. We’re — I think the color on Reveal, and we’re not breaking out those volumes, we’ve consistently not done that. But I think we said in the prepared remarks, in the quarter, revealed volume grew over 100%. So we’re really pleased with the continued traction that we’re getting there. And I think previously, we’ve talked about Reveal revenue in sort of low double-digit millions. And so yes, we’re still on track for that. So yes, overall, review is going really well and as well as we would hope but that’s probably as much color as we’re giving in the numbers.

Helmy Eltoukhy: Yes. No. I mean I think the smart liquid biopsy transition we’re on track and will continue to happen this year. Obviously, we’ve been really digging in, in terms of the capabilities of this new platform. And it’s just frankly, amazing us every single day in terms of the increased capabilities that we can have just I think it’s not only going to make the performance of our tests so much better in terms of sensitivities, but just a little to do with it. But just the capabilities that will offer the fields are frankly groundbreaking, not just the field of oncology, but even to our understanding of the science of disease progression. And so we were very, I think, hopeful that we can present some of that data at our Investor Day well. But it’s going better than [indiscernible].

Puneet Souda: Look forward to that. And then just on FDA for Amer. Wondering if you can provide us an updated the Shield 2.0 or the next-generation improvements that you’re doing in the assay. Is there a way to submit that as a supplement into the current FDA filing? And then also wondering, do you think FDA is going to put weight on the adherence aspect of this assay? Just wondering your thoughts on those 2 points.

AmirAli Talasaz: Yes. Thank you, Puneet. As I mentioned, we are making steady progress with AMC. And in terms of B2, we are also excited insight that we are getting on and we see actually what happened in terms of the regulatory pathway for 2, our current assumption right now, our judgment is hopefully, we get 31 approved and is the fact that B2 is just optimize the algorithm on the chemistry, all the workflows are the same, effectively, it would be just a supplemental PMA review by the agency that we are planning to submit right after we get approval for first version. So that’s our operating assumption at business. In terms of adherence, our rig agency actually acknowledge location for us that they acknowledge the value of blood-based testing for this field. So we believe actually is on the top of the mind that blood has some kind of unique value for this field and based on the experience that they have. So we will see.

Operator: Our next question comes from Tejas Savant with Morgan Stanley.

Unidentified Analyst: This is Yuko on for Tejas. I was wondering when can we see the next-gen Shield validation data? And could that come as soon as year end? And if so, what the new should we be looking out for?

AmirAli Talasaz: Yes. So actually, we are expecting to share actually more information and data actually later this year. So please stay tuned.

Unidentified Analyst: Great. And I also have a follow-up. Generation of lot will see time, but when should we expect the next larger cohort data on a super naive approach? And then separately, how do you go about getting mind share propositions who are already using a tumor-informed approach. Can you give us a sense of what proportion of current customer accounts are using competing MRD assays versus just a tumor-naive approach?