Chris Smith: Well look, I think when you think of it, Tejas, and you talk about it over the timeline that you mentioned, we will be launching other products along the way. So for example, we’re really excited about this liquid product that we’re going to be launching. So, there’ll be new products that will come in. But without question, we believe we have a ton of runway on NGS. I mean, I think, all the data that we see is that NGS market is probably only penetrated 30% to 40% and growing in, the 20% to 25% per year. And so, we think that we will get our share of that growth. And then I think as we bring out even our next large panel, we think that that will be a product that will make a significant impact in the market. So it’s hard to say percentage wise, but I will tell you, we’re starting from a low base, especially compared to our competitors.
We look at Foundation, you look at Tempest, you look at [TREX]. I mean, these are companies that are probably doing high, high double-digits of their business in NGS and solid, we just haven’t been. So, we think there continues to be a lot of runway there.
Tejas Savant: Got it. And a quick follow up on informatics, actually. Chris or Melody, perhaps, I’m just curious as to your updated thoughts there on better monetizing your informatics offering. And on a somewhat related note, you’ve talked in the past of, your product sort of moving towards more data intensive formats, whole genome sequencing, whole exome, et cetera. As you trend in that direction, do you envision an additional level of investment that’s needed to build the infrastructure to support those backend analytics and so forth for those kinds of tests?
Chris Smith: Yes, I’m going to let Melody kind of get into the detail with you. But now, remember, she’s only had it officially, I think, for like two weeks. But look, I think high level, we believe that there’s opportunities, especially in these markets that are growing double-digits, we need to invest in them. I think, our view is, is that we think that the business in entirety, we talk about it being portfolio has the ability to grow, double-digits. And so, I think informatics is no different than our other businesses, where we think if we invest the right amount, we can we can drive growth. But some of that has to do with product and strategy. And that on that, let me kind of throw it to Melody to give you kind of some more color on that.
Melody Harris: Yes, so two weeks, I’ve been here to us on this project. So just looking at it and learning, but I but I do feel we have quite a bit of opportunity. We are only now with our limb system really transforming the underlying system such that we have the data structure for the backend analytics that you mentioned. And as we get into new product offerings with whole genome sequencing. With liquid biopsy, a lot of the magic of those products is in the backend pipeline. And so, we’re already building that infrastructure for that, which then also lays the foundation for us, for purposes of monetizing that in a meaningful way. And so, if you think about data being the new oil, this means that we’re going to have more oil production, coming from whole genome sequencing and liquid biopsy. So the team is very excited about those new product offerings, and what then that means for their product down the road from that.
Jeff Sherman: And I think from an investment perspective, we are continuing to capture gross margin savings and efficiencies throughout the company, and have several different work streams going towards that. So part of those savings, we can reinvest into things like informatics and R&D as well. So, there’ll be profit growth from that, but there’ll also be some reinvestment from some of those operational efficiencies that, we garner over the next couple of quarters and years.
Chris Smith: Yes. And speaking of the limbs, obviously that’s going to be a big cost savings to move multiple systems onto one platform. And we’ve talked a lot about the limbs, but that really is the turbocharger for informatics growth. It’s been very hard for us from an informatics perspective on multiple limb systems, to aggregate all that data and be able to have data scientists, create the things that we needed. So the limbs project, think about it almost as an R&D campaign for informatics. It’s going to create that.
Tejas Savant: Got it. Appreciate the color guys. Thank you.
Chris Smith: Thanks.
Operator: Your next question is from Mike Matson with Needham and Company.
Chris Smith: Hi, Mike.
Mike Matson: Hi, guys. Just one on the patent litigation. So with this hearing on March 29, I guess, what is the next step? And is it just a decision on your appeal? And what’s the expected timing of that decision?
Chris Smith: Yes, I’ll let Ali take that.
Ali Olivo: Sure. So yes, what was appealed was the preliminary injunction. And typically, divisions take one to four months, depending on various factors, including if there’s a dissenting opinion, sort of who the judges are, whether it’s precedential in nature. And so, we’re about one month out. And so, we don’t really have greater visibility into the timing other than generally one to four months, with the four months being if it’s precedential, or has a dissent.
Mike Matson: Okay. Thanks. And then with the new liquid biopsy test that you mentioned, I mean, how does that fit with the prior RaDaR? Is this RaDaR kind of 2.0? Is this something that – would you sell both versions of the test, assuming you get the preliminary injunction and return?
Warren Stone: So the liquid that we’re looking to launch in the latter part of this year doesn’t relate to MRD. It’s really – it’s a liquid test. It’s a CGP pan-cancer liquid test that we’re launching so that we’re able to offer sort of concurrent testing opportunities with solid tumor and liquid biopsy.
Mike Matson: Got it. Okay. Thank you.
Chris Smith: Thanks.
Operator: Your next question is from Michael Ryskin with Bank of America.
John Kim: Hi, good morning.
Chris Smith: Good morning.
