Chris Smith: Yeah. I admire you trying to get that question, but we, obviously, haven’t given guidance for ’24. And look, it’s early days with RaDaR. So, I think — look, I think, what we believe it’s important to get coverage, and the way to get coverage is to make sure you’re running the right clinical trials and getting those published. So, look, this is the first time we ever talked publicly about how many ongoing clinical trials we have — to give colors, or there’s a lot going on with RaDaR. So, I think as that starts to come to fruition, we’ll update you, but we’re not giving any kind of financial guidance around gross margins or anything on RaDaR for next year.
Joseph Stringer: Okay. Sure. Fair enough. Well, congrats on the great quarter you guys.
Chris Smith: Thank you.
Operator: The next question comes from Tom Stevens with TD Cowen. Tom, please proceed.
Tom Stevens: Hey, all. Massive quarter, congratulations. I had sort of quick one, again, just to kind of beat the dead horse on your kind of CGP portfolio and kind of just where you’re winning there. I mean, you talked about operational efficiency, you talked about, more specialist sales force. Is it as simple as fast turnaround times, and being in front of conditions, or is it something more going on?
Chris Smith: Well, I think, there’s a lot of things at play. I mean, I think a lot of these fit under our sales optimization strategy and our focus. And as you know, we started adding field people towards the end of last year, and then ended this year to start to focus more on community oncologists because we have been pretty heavy on, the pathologist in the hospitals. I think that’s definitely making an impact. We were really a non-player in solid till we launched a product in March. Takes the time to get the product moving, and look, we continue to be the heme leader, and we continue to bring new innovations out on the heme side. So, I think it’s multiple things, but maybe let me give — Warren can maybe give even a little more color around.
Warren Stone: I think the multiples things is exactly. It’s a number of things acting in concert, and I think one of the first things I want to call out is the work we’ve done operationally from a turnaround time perspective, and we spoke about that in the call, but, obviously, with the importance of the NGS to overall performance, we give that extra focus, and we’ve done really well there from a turnaround time. I think the added resources in the field is the second factor here that’s really contributing to the success. And then, thirdly, it’s the execution of the sales strategy, I spoke about earlier, coupled with new products that we brought to market not only the CGP panel that we brought to market in March of this year, but also the new heme, the Neo Comprehensive that we launched earlier in quarter three. Those are all contributing. Just a number of factors and concepts that are sort of compounding on now that’s driving the performance.
Tom Stevens: Wonderful. Yeah. So, I guess, I’ll follow up with a two-parter there. I guess, just on the back of that, going into next year, should we expect these kinds of growth rates going into ’24 within the NGS portfolio, given the number of launches in the sequence you’ve had this year? And then, just the second one, a bit unrelated is kind of, have you guys thought about, or outlined kind of the net gross margin benefit you get from this LIMS reorg?
Chris Smith: So, internally, we have. I mean, I think this LIMS was a huge project, and to give you an idea, even the planning of it took us several months to really get to a place where we felt good about it. We’ve carved it out of the business, so — and given it dedicated resources to ensure that we’re able to get the focus, and the execution, but when you’ve done five acquisitions over the time history of the company, and running on multiple, multiple LIMS systems, the inefficiency from a gross margin perspective is significant. As you know, when you put one of these in, it’s like doing an ERP project, it takes time, so you’re not going to see this, starting January 1, right. We believe we’ll get some positive impacts starting in H1 of ’24, but it really is an ongoing that we think we’ll see, a four half to get — say, or over a two-year period, we’ll see continued impact on that.
Jeff Sherman: And then…
Chris Smith: Do you want add anything else?
Jeff Sherman: Just on the NGS growth, look, we continue to expect NGS is going to grow next year, but we’ll give more color on that as we give our guidance going into next year.
Tom Stevens: Wonderful. Congrats on the quarter. I’ll get back in the queue.
Jeff Sherman: Thank you.
Chris Smith: Thanks.
Operator: [Operator Instructions] Up next, we have Matthew Sykes with Goldman Sachs. Matthew, please proceed.
Chris Smith: Hey, Matt.
Prashant Kota: Hey, guys. This is Prashant Kota on for Matt. Congrats on the quarter and thanks for taking the question. So, do you — could you clarify on the additional breast MRD submission? I know it’s been talked about, but is that for triple-negative breast cancer?
Chris Smith: Vishal, go ahead.
Vishal Sikri: Hey, Matt. Yeah, it is for triple-negative breast cancer.
Prashant Kota: Got it. Okay. Thank you. And then, how much market share do you see RaDaR capturing over the longer term, given the competitive landscape?
Chris Smith: Well, look, I think the way to think about it, a lot of you all, right, the market, the analysts have been writing that it’s a $20 billion market, and less than 1% or 2% penetrated. So, there’s a lot of lot of runway. I mean, obviously, there’s a company in front of us, there’s multiple companies coming out, but, look, I would not say that we’re publicly disclosing, with the shares. I would say, look, what we’re seeing is our sensitivity is significant, and we’re seeing that really makes a difference in disease cancer states where sensitivity matters, places like breast, lung, etc. So, I think it’s just too early to try to speculate how the share will all wake up, but look, big, big market with lots of opportunity.
