SOPHiA GENETICS SA (NASDAQ:SOPH) Q4 2022 Earnings Call Transcript

Tejas asked us about upside drivers. There’s a lot of momentum there. The gentleman who runs that business for us, we’ve had him on the call before, he’s doing a tremendous job. And I think we can really move the needle. And then, lastly, on the partnership side, we’ve got fantastic momentum with Microsoft. Jurgi also talked about Agile and Qiagen, which are great partners for us. We obviously have spent a lot of time on MSK. And so, making sure we get returns and momentum out of that is crucial. And then, lastly, being able to do all of that with what we have. I’m proud of what our team was able to do in terms of operating a net loss this quarter. We’ve made huge strides. As a European entity, it takes us some time, obviously, to sometimes display that sequential operating loss improvements that we’re looking for.

But, certainly, we’re getting more productive, we’re getting more efficient, we’re getting more focused, and being able to execute on those items without adding headcount and without adding significant indirect costs, that’s where we’re really focused and what I’m focused on.

Operator: The next question comes from Mark Massaro with BTIG.

Mark Massaro: Congrats on a strong 2022. My question is for Jurgi. On the DEEP-Lung study, I appreciate all of the detail. I believe you’ve enrolled 1,500 patients. How many more patients do you expect to enroll? When do you think that study will wrap up? And when do you think we can see another interim readout?

Jurgi Camblong: Indeed, just as a reminder, that the study we launched in 2020 at RSNA, and basically, in a year-and-a-half time, now we’ve been able to onboard 25 sites around the world on this multimodal journey, out of which six in the US. And we’ve been able to follow launch journey 1,500 patients, having molecular information, so genomic data, imaging data as well as 200 clinical data points. So, which is pretty awesome in terms of how quickly we’ve been able to operate that. Now, we have said that, when we started the study, that this would be a retrospective study on 4,000 patients. So this can give you a sense of how many patient data we’re going to gather this year. So, should be around 2,500. And beyond that, we are thinking €“ so this is still very premature, but as well as considering prospective studies, right, but we would first have to disclose the retrospective data, which I think we’re going to do as well in the next oncology conferences we’re participating at.

Overall, I would say, Mark, we’re very excited about it. Because when we went public, there was some expectation on us, of course, hitting the numbers, about demonstrating we’re compatible with the US market for genomics, demonstrating we could penetrate the pharma, but that will demonstrate the market that we could go beyond genomics, right? And with what we did DEEP-Lung, building CarePath, now we are in this unique position where we can gather other data together with genomic data, we call these data layers phenotypic data. And I can tell you, as I was commenting to Tejas, while traveling last week in Colombia and Brazil, in any meeting, I ask people the genomic data to get access to CarePath to be able to follow the patients they are analyzing, either in cancer.

So I think, here, we have to be now very disciplined on executing the plan and beyond. And this is where we count a lot on our partners like GE. We mentioned what we’re doing with them on the imaging fabric side, as well as Microsoft where we are working together on being able to gather clinical data at scale in a decentralized way. It’s really exciting, Mark, by the way. This is why we build SOPHiA.