ADDED
We improved our operational efficiencies increasing gross margin percentage to 81% as compared to 78% in 2024; We maintained our cost-disciplined approach limiting growth in full year Operating Expense, excluding Direct costs and expenses to 10% over 2024, including non-cash share-based compensation expenses, while growing revenue by 24%; and We were awarded the prestigious 2025 Denver Post | Energage Top Workplaces, the second consecutive year receiving an employee-survey based recognition award a reflection of our strong team culture and employee engagement.
Lung cancer is the deadliest cancer in the United States with most patients diagnosed late stage, with advanced disease.
With the introduction of numerous treatment options, healthcare providers need an ever-increasing amount of information to select the best treatment plan for each individual patient.
Diagnosis : We estimate there are approximately 5 to 6 million lung nodules in the United States annually.
Approximately 1.6 million new nodules are identified incidentally, and potentially 4 million lung nodules from the adoption of screening could be identified annually in the United States.
Following initial discovery of a nodule, patients are typically evaluated by a primary care provider or a pulmonologist for the risk of lung cancer before determining if a patient should be considered for an invasive procedure to obtain a tissue sample to confirm diagnosis or computed tomography (CT) surveillance.
This risk assessment includes a review of clinical factors such as the patient s smoking history and age, and radiological features such as the size, texture, and location of the nodule, obtained from a CT scan.
We estimate that approximately 80% of patients are identified as low to moderate risk (5%-65%) during these initial risk assessments.
The current Lung Nodule guideline recommendations are unclear, often resulting in either over-treatment of patients with benign nodules or under-treatment in patients with cancerous nodules.
An estimated 17% of patients initially scheduled for watchful waiting, or follow-up CT scans are later diagnosed with malignant nodules.
REMOVED
We improved our operational efficiencies increasing gross margin percentage to 78% as compared to 73% in 2023; We maintained our cost-disciplined approach limiting growth in full year Operating Expense, excluding Direct costs and expenses to 17% over 2023, including non-cash share-based compensation expenses, while growing revenue by 45%; and We were awarded the prestigious 2024 Inc.
Magazine Best Workplaces a reflection of our strong team culture and employee engagement.
This is our clinical testing focus because lung cancer is the deadliest cancer in the United States with the majority of patients diagnosed with advanced disease.
With the introduction of numerous treatment options, physicians need an ever-increasing amount of information in order to select the best treatment plan for each individual patient.
Diagnosis : We estimate approximately 1.6 million new incidental lung nodules and potentially 4 million lung nodules from the adoption of screening could be identified annually in the United States.
Following initial discovery of a nodule, patients are typically evaluated by a pulmonologist for risk of lung cancer before an invasive procedure is carried out to obtain a tissue sample to confirm diagnosis.
This risk assessment is based on clinical factors such as the patient s smoking history and age, and radiological features such as the size and location of the nodule, obtained from a computed tomography (CT) scan.
On initial assessment, we estimate that approximately 80% of patients are identified as low to moderate risk (5-65%) where guideline recommendations for their care plan are unclear, often resulting in either overtreatment of patients with benign nodules or undertreatment in patients with cancer.
An estimated 17% of patients initially scheduled for watchful waiting, or follow-up CT scans in intervals up to a year, are later diagnosed with malignant nodules, potentially delaying their diagnosis.
We therefore believe that there is a clear clinical need for blood-based diagnostic testing to help improve the initial risk assessment of pulmonary nodules, helping direct patients to the relevant treatment pathway, and ultimately improving patient outcomes and saving costs to the system.