SOPHiA GENETICS SA (NASDAQ:SOPH) Q3 2023 Earnings Call Transcript

Dr. Jurgi Camblong: Yes. A very good question, Mark. So as you know, MRD can indeed be many things, right? And in solid tumor testing, it can be quite similar as well to some liquid biopsy applications. So our main focus for next year will be in IMAC so in AML on MRD and we will be launching new capabilities before June next year that will enable us to further support our IMAC clients. Today, the number of clients that we support in IMAC is important. We have grown our business as well nicely the last quarter. And so we see the ability to further grow our impact and our revenue within those customers not only by enabling them to identify what is driving IMAC cancer. But beyond that as well, enabling them to follow those patients with MRD capabilities that they are being treated.

Mark Massaro: Excellent. Just maybe my final question. How are you guys thinking about the FDA proposed rule about potentially stepping up oversight of LDTs? Do you view that as an opportunity or potentially a near-term cost? Do you think some of your applications might need to go through the FDA? And how are you thinking about any potential cost or opportunities to your business?

Dr. Jurgi Camblong: So of course that’s something that we are following, to some extent quite similar as well to what have been done in Europe with IVDR, Hence, the importance of adding solutions which are compatible with these requirements. In our case, it means having solutions under design control. So we see that rather as an opportunity. We’ve always said that our platform would help scale the industry of precision medicine, industrializing data computing and we believe that the recent questions, announcements and decisions are well in line with our strategy.

Operator: There are no further questions at this time. Mr. Camblong, I turn the call back over to you.

Dr. Jurgi Camblong: So thank you all for participating to our earnings. I would like to thank all the SOPHiAns as well for their hard work, commitment and passion in impacting around the world while delivering excellent technologies to hospitals and to biopharma customers. And with that, a good highlight to leave our investor community reminding you that we will be soon at the Evercore Healthcare Conference in Miami. Have a good day.

Operator: This concludes today’s conference call. You may now disconnect.