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Company reaffirms its commitment to information security and data protection in healthcare technology
Boston, US and Rolle, Switzerland – January 9, 2025 – SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and a global leader in data-driven medicine, today announced it has successfully achieved ISO/IEC 27017:2015 and ISO/IEC 27018:2019 certifications for information security and privacy protection in its cloud services from BSI, the business improvement and standards company. It has also achieved recertification to ISO/IEC 27001:2022. The Company first achieved its ISO/IEC 27001 certification in 2014, demonstrating a robust information security management system was implemented to handle customer data securely.
These internationally recognized standards, developed and published by the world’s most recognized standards organization for information security management systems, underscore the Company’s commitment to maintaining the highest standards of security and data protection for its customers and the patients they serve.
SOPHiA GENETICS has consistently prioritized the security of customer data and privacy of the patients they serve for over a decade, ensuring the highest level of data security for the 780 healthcare institutions it serves globally.
By achieving two new certifications, SOPHiA GENETICS further solidifies its commitment to protecting the data of its customers and complying with global data protection regulations. The certifications highlight the Company’s commitment to proactively aligning with the evolving cybersecurity landscape. In addition, customers can be reassured by SOPHiA GENETICS’ role in establishing privacy, transparency, and regulatory compliance as top priorities that are consistently held to the highest standard.
“We are raising the bar for how cloud-based health data should be managed and protected,” said Daan van Well, Chief Legal and Regulatory Officer of SOPHiA GENETICS. “These certifications showcase our dual commitment: implementing best practices in collaboration with our partners and offering secure, trustworthy services to our customers at the same time. This achievement reinforces our longstanding commitment to data protection and cloud security and further solidify our position as leaders in cloud security and data privacy in the health data space.”
ISO standards are widely recognized internationally as the gold standard to ensure the security of the broader public. To demonstrate the quality of its focus on advanced security standards, SOPHiA GENETICS underwent a rigorous evaluation from BSI (British Standards Institution), a third-party auditor, to obtain the ISO certificates.
David Mudd, Global Head of Digital Trust, Assurance at BSI said: “Digital healthcare offers an immeasurable opportunity for society, but to truly unlock the potential of this, patients and clinicians need to be able to trust the technology is safe, secure and reliable. Achieving these certifications from BSI demonstrates SOPHiA GENETICS’ commitment to its customers to deliver reliable and accurate insights while ensuring any data processed by its technology is secure. Their customers and stakeholders can have the confidence that they are working with an organization dedicated to the highest standards and level of care when it comes to information security and data privacy in the cloud.”
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.com and connect with us on LinkedIn.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Media Contact:
Kelly Katapodis
Measurable Residual Disease (MRD) is a crucial biomarker for analyzing and tracking tumor evolution, evaluating treatment effectiveness, and predicting relapse in acute myeloid leukemia (AML). Among the various technologies used to detect MRD, next-generation sequencing stands out for its exceptional sensitivity and specificity.
In this webinar, Silvia Salmoiraghi, biologist at ASST Papa Giovanni XXIII Hospital in Bergamo, Italy, discuss the performance of the SOPHiA DDM™ Residual Acute Myeloid (RAM) Solution.
Launch of new application enables global access to highly recognized solid tumor profiling assay
Boston, MA and Rolle, Switzerland [November 20, 2024] - SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology leader in data-driven medicine, announced the global launch of MSK-IMPACT® powered with SOPHiA DDM™ today from the Association for Molecular Pathology (AMP) Annual Meeting. This innovative solution provides organizations worldwide with the opportunity to benefit from Memorial Sloan Kettering Cancer Center (MSK)'s best-in-class comprehensive genomic profiling (CGP) application on the SOPHiA DDM™ Platform with high accuracy and efficiency.
“The launch of MSK-IMPACT® powered with SOPHiA DDM™ is another major milestone in our journey to expand access to precision oncology globally and demonstrates our commitment to democratizing data-driven medicine,” said Philippe Menu, M.D., PhD., Chief Product Officer and Chief Medical Officer, SOPHiA GENETICS. “Following the successful launch of MSK-ACCESS® powered with SOPHiA DDM™ earlier this year, we are incredibly excited to further build on our excellent collaboration with MSK. Launching this application is a powerful step in our vision to decentralize access to advanced tumor profiling technologies, making these capabilities more widely available, especially in underserved populations.”
Kojo S. J. Elenitoba-Johnson, M.D., Chair of the Department of Pathology and Lab Medicine at MSK, added, “We share a vision with SOPHiA GENETICS to advance precision medicine and to make our leading tests more accessible to patients around the world.”
Through MSK-IMPACT® powered with SOPHiA DDM™, organizations can process more precise oncology analysis by enhancing the accuracy of somatic mutation detection, including in genes that are highly relevant for the current pharmaceutical industry R&D pipelines, such as MTAP. The matched tumor-normal analysis approach allows clinicians and researchers to detect somatic mutations more confidently, minimizing the risk of misclassifying germline variants as tumor-specific. Additionally, institutions benefit from the global collective intelligence created by SOPHiA GENETICS’ network, allowing users to contribute to and draw from a continuously evolving base of real-world data and insights from diverse populations.
SOFIVA GENOMICS, a leading molecular diagnostics company in Taiwan, is among the first to adopt this application. The company initially partnered with SOPHiA GENETICS in 2022 to utilize the SOPHiA DDM™ Homologous Recombination Deficiency (HRD) Solution. Now, SOFIVA GENOMICS is expanding its tumor profiling capabilities by adding MSK-IMPACT® powered with SOPHiA DDM™ alongside the liquid biopsy test MSK-ACCESS® powered with SOPHiA DDM™.
Chia-Cheng Hung, General Manager, SOFIVA GENOMICS, commented, “Our partnership with SOPHiA GENETICS has greatly enhanced our ability to provide localized, highly accurate genomic testing. Access to this advanced technology enables us to bring advanced, trusted capabilities and further our progress on cancer research in Taiwan.”
MSK-IMPACT® powered with SOPHiA DDM™ enables a more efficient workflow, with the entire process from DNA extraction to final report taking approximately five days. Clinicians and researchers benefit from access to OncoKB™, MSK’s Precision Oncology Knowledge Base, which further enhances the interpretive power of the SOPHiA DDM™ analysis through data-driven, actionable insights. In-house analytical validation results for MSK-IMPACT® powered with SOPHiA DDM™ showed high concordance to the single-site MSK-IMPACT® test, achieving:
For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.com, or connect on LinkedIn.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.com and connect with us on LinkedIn.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence. Concordance results based on analytic assessment of RUO products.
Memorial Sloan Kettering (MSK) has institutional financial interests related to SOPHiA GENETICS.
SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Media Contact:
Kelly Katapodis
[email protected]
SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and a global leader in data-driven medicine, recently joined the European Liquid Biopsy Society (ELBS), a prestigious network consisting of partners from academia and industry with the common goal of making liquid biopsy tests part of the routine standard of care.
SOPHiA GENETICS offers a comprehensive suite of liquid biopsy applications that are helping to progress oncology research and tumor mutation profiling. Liquid biopsy offers an alternative to solid tumor testing by isolating cell-free DNA (cfDNA) from blood plasma. This testing approach allows for non-invasive cancer genomic profiling and disease monitoring, revealing critical insights in cases where tissue biopsy may not be feasible. However, liquid biopsy still faces challenges, including workflow standardization and broad adoption across the globe.
Building on the momentum of the recent launch of MSK-ACCESS® powered with SOPHiA DDM™ earlier this year, we would like to develop a community of knowledge, where peers can connect, share experiences, and hear the latest updates regarding the implementation of decentralized Memorial Sloan Kettering Cancer Center (MSK) applications.
In this webinar, attendees will:
➡️ Learn more about Memorial Sloan Kettering Cancer Center’s and
SOPHiA GENETICS’s strategies to lower liquid biopsy hurdles.
➡️ Learn more about the evolution of MSK-ACCESS® assay.
➡️ Hear about the evidence-generation efforts to demonstrate the clinical utility of MSK-ACCESS® powered with SOPHiA DDM™
➡️ Gain insights into new analytical performance data from early adopters across Europe
➡️ Get the latest updates and discuss our initiative to facilitate sample sharing among centers
BOSTON and ROLLE, Switzerland, November 6, 2024 – SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology leader in data-driven medicine, today announced the next step in the partnership between the Company and Genomenon, a leading genomic intelligence company, to support better, data-driven outcomes in the rare disease and oncology fields. The two companies have expanded the integration of Genomenon’s Mastermind® Genomic Intelligence Platform into SOPHiA GENETICS’ Alamut™ Visual Plus, to empower researchers and clinical geneticists with a solution that helps accelerate variant interpretation for rare disorders.
Time is crucial in gathering actionable insights for rare diseases and cancers due to the complexity and unknown elements of their genetic underpinnings. Identifying these variants often involves navigating limited literature and sparse data, as many rare disorders lack comprehensive studies. Delays in finding relevant information can hinder accurate analysis and interpretation of genomic variants. Many rare conditions have no cure, and easy access to relevant, comprehensive and well-organized information can help accelerate insights and health decisions.
Alamut™ Visual Plus is an advanced decision-support tool for the exploration, annotation, and interpretation of genetic variants from next-generation sequencing (NGS) data. Genomenon’s Mastermind® Genomic Intelligence Platform provides comprehensive curated evidence for genomic data, as well an indexed content from more than 10 million full-text articles. The integration of the two tools significantly enhances variant curation and interpretation by connecting the Alamut™ Visual Plus comprehensive, full genome browser for variant interpretation to a vast library of scientific research, offering critical insights even for rare variants with limited existing research. This partnership will prove especially valuable in such cases where findings from only a single study globally might be available that hold the key to understanding a variant’s pathogenicity. By offering immediate access to a broad spectrum of indexed data and curated genomic insights, researchers and clinicians can more efficiently assess the pathogenicity of variants, enabling them to make informed decisions with greater confidence.
“We are excited to expand our work with Genomenon and provide our customers the opportunity to access world-class tools like Mastermind® through our technology platform.” said Ross Muken, President, SOPHiA GENETICS. “This partnership simultaneously benefits our customers, who will gain a more comprehensive understanding of detected variants in a seamless, single platform, while providing Genomenon the opportunity to broaden its reach through our unmatched global network.”
“Collaborating with SOPHiA GENETICS allows us to provide geneticists and researchers with the most comprehensive and up-to-date genomic research available as they review patient data in Alamut,” said Mike Klein, CEO of Genomenon. “The links to Mastermind® from Alamut will put curated genomic data and the most recent research on every variant at the fingertips of clinicians assure patient diagnoses are informed by the most recent scientific findings in a single, complete workflow.”
For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.COM, or connect on LinkedIn.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
About Genomenon
Genomenon is a leading genomic intelligence company transforming patient care by uncovering the genomic drivers of genetic disease and cancer. By combining the power of AI built on the world’s premier genomic data set with genomic expertise, the company simplifies complex genetic data into actionable insights. Genomenon's integrated software, data, and services solutions empower clients with advanced patient diagnosis and precision medicine development. For more information, visit GENOMENON.COM
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
SOPHiA GENETICS Media Contact:
Kelly Katapodis
[email protected]
BOSTON, United States and ROLLE, Switzerland, November 5, 2024 — SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company and leader in data-driven medicine, today announced that Ross Muken, previously Chief Financial Officer (“CFO”) and Chief Operating Officer (“COO”), has been promoted to company President, effective November 5, 2024. George Cardoza has been appointed as the company’s new CFO.
In the newly created role of company President, Ross Muken will oversee SOPHiA GENETICS’s global business operations and work even more closely on strategic planning with CEO, Jurgi Camblong. He will continue to lead the company’s go-to-market function, including Clinical sales, BioPharma Dx sales, sales support, marketing, customer experience, and operations. Ross joined SOPHiA GENETICS in February 2021 as CFO and was appointed as CFO and COO in March 2023.
“I want to congratulate Ross on his well-deserved promotion to President,” said Jurgi Camblong, SOPHiA GENETICS CEO and Co-Founder. “Ross has been an instrumental part of our success since he joined almost four years ago, first as CFO and more recently as COO. I am grateful for his trusted partnership in positioning SOPHiA GENETICS for long-term growth.”
Jurgi Camblong adds, ““I am also delighted to welcome George Cardoza to our executive leadership team. George is a proven business leader and brings a wealth of deep financial expertise, leadership experience, and industry knowledge to SOPHiA GENETICS. As we continue to grow, George is uniquely qualified to help us succeed in this next exciting chapter of our journey. The leadership of both Ross and George will be crucial as we continue to further enhance our operational effectiveness while also balancing our need to consistently innovate.”
As CFO, Cardoza will oversee all corporate finance functions, including accounting, financial planning and analysis (“FP&A”), investor relations, internal audit, tax, and treasury.
Mr. Cardoza brings more than 30 years of experience in the precision medicine and clinical diagnostics industry, with extensive experience in both financial and operational leadership. Before joining SOPHiA GENETICS, he was the CFO and Head of Service Delivery at Biocartis, a molecular diagnostics company. Prior, he spent over twelve years with NeoGenomics Laboratories in several executive roles (CFO, President Pharma Services Division, and President and Chief Operating Officer Laboratory Operations), and previously spent more than fourteen years with Quest Diagnostics in various roles including Controller of the Central Region.
Throughout his career, Cardoza has shown a strong talent for financial management, strategic planning, and driving businesses towards increasing levels of performance. He has a deep understanding of the industry landscape and a proven track record of success in executing and influencing growth-oriented business strategies. Mr. Cardoza holds a B.S. in Finance and Accounting from Syracuse University and an MBA from Michigan State University.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of SOPHiA DDM™, a platform that analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
Investor Contact:
Kellen Sanger
Media Contact:
Kelly Katapodis
Clinical growth reaccelerates with record analysis volume; Cash burn improves 39%
BOSTON and ROLLE, Switzerland, Nov. 5, 2024 /PRNewswire/ -- SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company and leader in data-driven medicine, today reported financial results for the third quarter ended September 30, 2024.
Third Quarter 2024 Financial Results
"Record analysis volume drove a reacceleration of Clinical growth across most key geographies in Q3, with volume increasing 16% year-over-year, offset by expected softness in BioPharma," said Jurgi Camblong, PhD., Chief Executive Officer and Co-founder. "We also delivered another quarter of strong forward-looking indicators with 20 new customer signings, including major wins in the U.S., the U.K., and Brazil. I am proud of our ability to deliver strong new business momentum, while also excelling at cost management. In Q3, we expanded adjusted gross margins to 73.1% and improved cash burn significantly by 39% year-over-year to $9.6 million, while also strengthening commercial teams and customer-facing operations."
Camblong added, "Looking ahead, I'm excited by major growth catalysts such as our new Liquid Biopsy application MSK ACCESS® powered with SOPHiA DDMTM, which has already attracted an impressive 18 new customers since its launch in Q2. I am also excited by the recent launch of the application's Solid Tumor testing counterpart, MSK-IMPACT® powered with SOPHiA DDMTM. These applications, which enable any institution across the globe to launch best-in-class Liquid Biopsy and Solid Tumor testing, are also igniting strong interest from BioPharma companies who can leverage the decentralized, global network to improve deployment and development of their therapies."
Business Highlights
Expanding usage of SOPHiA DDM™ worldwide
Accelerating adoption of SOPHiA DDM™ by landing new Clinical customers
Building strong new business momentum with new applications
Growing sustainably by maintaining an obsession with operational excellence
2024 Financial Outlook
Based on information as of today, SOPHiA GENETICS is reaffirming our previously provided guidance of:
Earnings Call and Webcast Information
SOPHiA GENETICS will host a conference call and live webcast to discuss the third quarter 2024 results on Tuesday, November 5, 2024, at 8:00 a.m. (08:00) Eastern Time / 2:00 p.m. (14:00) Central European Time. The call will be webcast live on the SOPHiA GENETICS Investor Relations website, ir.sophiagenetics.com. Additionally, an audio replay of the conference call will be available on the SOPHiA GENETICS website after its completion.
Non-IFRS Financial Measures
Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking adjusted gross margin (non-IFRS measure) to gross margin (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying amortization of capitalized research & development expenses that are necessary for such reconciliation. In addition, the Company does not provide a reconciliation of forward-looking adjusted operating loss (non-IFRS measure) to operating loss (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying amortization of capitalized research & development expenses and intangible assets, share-based compensation expenses, and non-cash portion of pensions paid in excess of actual contributions, that are necessary for such reconciliation.
To provide investors with additional information regarding the company's financial results, SOPHiA GENETICS has disclosed here and elsewhere in this earnings release the following non-IFRS measures:
These non-IFRS measures are key measures used by SOPHiA GENETICS management and board of directors to evaluate its operating performance and generate future operating plans. The exclusion of certain expenses facilitates operating performance comparability across reporting periods by removing the effect of non-cash expenses and certain variable charges. Accordingly, the company believes that these non-IFRS measures provide useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.
These non-IFRS measures have limitations as financial measures, and you should not consider them in isolation or as a substitute for analysis of SOPHiA GENETICS' results as reported under IFRS. Some of these limitations are:
Because of these limitations, you should consider these non-IFRS measures alongside other financial performance measures, including various cash flow metrics, net income and other IFRS results.
The tables below provide the reconciliation of the most comparable IFRS measures to the non-IFRS measures for the periods presented.
Presentation of Constant Currency Revenue and Excluding COVID-19-Related Revenue
SOPHiA GENETICS operates internationally, and its revenues are generated primarily in the U.S. dollar, the euro and Swiss franc and, to a lesser extent, British pound, Australian dollar, Brazilian real, Turkish lira and Canadian dollar depending on the company's customers' geographic locations. Changes in revenue include the impact of changes in foreign currency exchange rates. We present the non-IFRS financial measure "constant currency revenue" (or similar terms such as constant currency revenue growth) to show changes in revenue without giving effect to period-to-period currency fluctuations. Under IFRS, revenues received in local (non-U.S. dollar) currencies are translated into U.S. dollars at the average monthly exchange rate for the month in which the transaction occurred. When the company uses the term "constant currency", it means that it has translated local currency revenues for the current reporting period into U.S. dollars using the same average foreign currency exchange rates for the conversion of revenues into U.S. dollars that we used to translate local currency revenues for the comparable reporting period of the prior year. The company then calculates the difference between the IFRS revenue and the constant currency revenue to yield the "constant currency impact" for the current period.
The company's management and board of directors use constant currency revenue growth to evaluate growth and generate future operating plans. The exclusion of the impact of exchange rate fluctuations provides comparability across reporting periods and reflects the effects of customer acquisition efforts and land-and-expand strategy. Accordingly, it believes that this non-IFRS measure provides useful information to investors and others in understanding and evaluating revenue growth in the same manner as the management and board of directors. However, this non-IFRS measure has limitations, particularly as the exchange rate effects that are eliminated could constitute a significant element of its revenue and could significantly impact performance and prospects. Because of these limitations, you should consider this non-IFRS measure alongside other financial performance measures, including revenue and revenue growth presented in accordance with IFRS and other IFRS results.
In addition to constant currency revenue, the company presents constant currency revenue excluding COVID-19-related revenue to further remove the effects of revenues that are derived from sales of COVID-19-related offerings, including a NGS assay for COVID-19 that leverages the SOPHiA DDMTM Platform and related products and solutions analytical capabilities and COVID-19 bundled access products. SOPHiA GENETICS do not believe that these revenues reflect its core business of commercializing its platform because the company's COVID-19 solution was offered to address specific market demand by its customers for analytical capabilities to assist with their testing operations. The company does not anticipate additional development of its COVID-19-related solution as the pandemic transitions into a more endemic phase and as customer demand continues to decline. Further, COVID-19-related revenues did not constitute, and the company does not expect COVID-19-related revenues to constitute in the future, a significant part of its revenue. Accordingly, the company believes that this non-IFRS measure provides useful information to investors and others in understanding and evaluating its revenue growth. However, this non-IFRS measure has limitations, including that COVID-19-related revenues contributed to the company's cash position, and other companies may define COVID-19-related revenues differently. Because of these limitations, you should consider this non-IFRS measure alongside other financial performance measures, including revenue and revenue growth presented in accordance with IFRS and other IFRS results.
The table below provides the reconciliation of the most comparable IFRS growth measures to the non-IFRS growth measures for the current period.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of SOPHiA DDM™, a platform that analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding SOPHiA GENETICS future results of operations and financial position, business strategy, products and technology, partnerships and collaborations, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on SOPHiA GENETICS' management's beliefs and assumptions and on information currently available to the company's management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in the company's filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of its date. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in the company's expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
SOURCE SOPHiA GENETICS
For further information:
Investor Contact:
Kellen Sanger,
[email protected]
Media Contact:
Kelly Katapodis,
[email protected]
BOSTON and ROLLE, Switzerland, Oct. 22, 2024 -- SOPHiA GENETICS (Nasdaq: SOPH), a cloud- native software company and a leader in data-driven medicine, today announced it will release its financial results for the third quarter of fiscal year 2024 before U.S. markets open on Tuesday, November 5, 2024. On that day, SOPHiA GENETICS will host a conference call to discuss its financial results as well as business outlook beginning at 8:00 a.m. (08:00) EDT / 2:00 p.m. (14:00) CET.
The call will be webcast live on the SOPHiA GENETICS Investor Relations Website. Additionally, a replay will be available on the website after its completion.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDMTM Platform, a cloud-native platform that analyzes complex multimodal data – including genomics, radiomics, clinical, biological, and digital pathology data – to generate real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
Investor Contact
Kellen Sanger
[email protected]
Media Contact
Kelly Katapodis
[email protected]
Research highlights the use of multimodal machine learning to identify non-small cell lung cancer patients predicted to derive the most benefit from combination immunotherapy.
Boston, MA and Rolle, Switzerland, September 14, 2024 – SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and a leader in data-driven medicine, will unveil new research at the European Society for Medical Oncology (ESMO) 2024. The study, conducted in collaboration with AstraZeneca, leverages advanced AI-driven techniques to identify subgroups of stage IV non-small cell lung cancer (NSCLC) patients who could most benefit from the addition of tremelimumab to durvalumab and chemotherapy.
The research is a retrospective, multimodal analysis of the POSEIDON Phase 3 clinical trial (NCT03164616). This trial originally demonstrated that the combination of tremelimumab, durvalumab, and chemotherapy significantly increases progression-free survival (PFS) and overall survival (OS) versus chemotherapy in patients with metastatic NSCLC, which lead to approval of this regiment globally in 1L mNSCLC. The SOPHiA GENETICS study used cutting-edge multimodal machine learning models to analyze clinical, biological, genomic, and imaging data, pinpointing patient subgroups who are most likely to benefit from the combination treatment.
The research highlighted signatures identifying patients with non-squamous metastatic NSCLC who may derive higher OS benefit from the addition of tremelimumab to durvalumab plus chemotherapy in the first-line treatment setting. In particular, EGFR wild-type, FGFR3 wild-type, CDKN2A wild-type, KRAS mutation, and STK11 mutation comprised elements of a signature was identified as being associated with a higher OS benefit. These findings could have significant implications for the treatment of NSCLC, as it provides an exploration avenue towards a more tailored approach to patient care.
"Our collaboration with AstraZeneca represents a major step forward in personalized oncology. Non-small cell lung cancer remains one of the most challenging cancers to treat due to its complex biology and the late stage at which it is often diagnosed,” said Jurgi Camblong, Ph.D., Co-founder and CEO of SOPHiA GENETICS. “This study harnesses the power of multimodal data and advanced AI to identify which patients are most likely to benefit from specific therapies. By tailoring treatment strategies based on a patient's unique multimodal profile, we aim to improve outcomes and offer new hope to those battling this difficult disease."
The study will be presented as a poster by Ferdinandos Skoulidis, Department of Thoracic Medical Oncology, University of Texas MD Anderson Cancer Center at ESMO 2024 hosted in Barcelona, Spain from September 13-17, 2024. His presentation showcases the operational feasibility and clinical impact of large-scale multimodal analyses in identifying heterogeneous treatment effects in oncology.
For more information on SOPHiA GENETICS, visit SOPHiAGENETICS.COM, or connect on LinkedIn.
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About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of the SOPHiA DDM™ Platform, which analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
SOPHiA GENETICS Forward-Looking Statements:
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy, products, and technology, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Media Contact:
Kelly Katapodis
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The global collective intelligence network aims to accelerate precision oncology research and care.
Boston, US, and Rolle, Switzerland, September 12, 2024 – SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native healthcare technology company and a global leader in data-driven medicine, today announced an update that several world-renowned healthcare organizations have joined SOPHiA UNITY. SOPHiA UNITY is the global consortium announced at ASCO by SOPHiA GENETICS that connects best-in-class healthcare institutions to fuel the next wave of innovation in oncology by making real-world data available for research.
SOPHiA UNITY, the pioneering initiative by SOPHiA GENETICS, harnesses multimodal data and analytics to drive innovation from a global network. The bar for innovation in oncology is increasing as indications become more fragmented, more complex and requiring larger datasets. No single institution can address this challenge alone. SOPHiA GENETICS launched SOPHiA UNITY to meet this challenge, harmonizing high-quality, diverse, multimodal data at scale, leveraging the collective intelligence of leading research institutions.
Exactis Innovation in Montreal, Quebec, Canada, an organization of hospital partners dedicated to improving cancer survivorship through real-world data, as well as Institut Paoli-Calmettes in Marseille, France, one of the largest cancer centers in France, will be joining SOPHiA UNITY. In addition, Gemelli Hospital in Rome, Italy, named the best hospital in Italy in 2024, has expressed interest in joining the collaborative.
These organizations accompany inaugural member Memorial Sloan Kettering Cancer Center, a top cancer treatment and research institution. The SOPHiA UNITY network includes three countries and over 100,000 committed patient profiles with multimodal data.
“By uniting a critical mass of data and expertise through SOPHiA UNITY, we are empowering a global network of top-tier institutions to leverage real-world data to tackle the complexities of cancer. This initiative provides a new opportunity to advance oncology research with one of the most robust sources of diverse data available in the market to drive breakthroughs and improve patient outcomes worldwide," said Jurgi Camblong, PhD, Co-founder and CEO of SOPHiA GENETICS. "Together, we have the power to change the world."
Members benefit from participating in innovative global projects funded by industry and have access to the SOPHiA GENETICS AI-driven technology that increases efficiency of data curation, structuring and harmonization efforts. Collaborations made possible by SOPHiA UNITY pave the way for continued advancement of oncology research and data-driven medicine.
Members of SOPHiA UNITY can use SOPHiA CarePath™ which provides large-scale data insights from various modalities—including imaging, genomics, and pathology, as well as clinical notes and a diverse array of patient profiles. Data are safely and anonymously collected, harmonized and curated using SOPHiA GENETICS’ advanced AI-based technology and proprietary algorithms, delivering meaningful, data-driven insights.
For more information visit SOPHiAGENETICS.COM, or connect on LinkedIn.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of SOPHiA DDM™, a platform that analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding SOPHiA GENETICS future results of operations and financial position, business strategy, products and technology, partnerships and collaborations, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on SOPHiA GENETICS’ management’s beliefs and assumptions and on information currently available to the company’s management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in the company’s filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of its date. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in the company’s expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Media Contact:
Kelly Katapodis
[email protected]
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise.
SOPHiA DDM™ Dx Hereditary Cancer Solution, SOPHiA DDM™ Dx RNAtarget Oncology Solution and SOPHiA DDM™ Dx Homologous Recombination Deficiency Solution are available as CE-IVD products for In Vitro Diagnostic Use in the European Economic Area (EEA), the United Kingdom and Switzerland. SOPHiA DDM™ Dx Myeloid Solution and SOPHiA DDM™ Dx Solid Tumor Solution are available as CE-IVD products for In Vitro Diagnostic Use in the EEA, the United Kingdom, Switzerland, and Israel. Information about products that may or may not be available in different countries and if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact us at [email protected] to obtain the appropriate product information for your country of residence.
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