CGIX - Earnings call transcript Q3 2017

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Operator

Good morning, and welcome to the Cancer Genetics Third Quarter 2017 Earnings Call and Company Update. This morning, the company issued a press release that provided an overview of the third quarter and nine months 2017 results. Today's conference is being recorded and will be available at investors.cgix.com.

Additionally, CGIX has also provided a set of slides to accompany today's update that are available both online or by contacting ir@cgix.com. [Operator Instructions] I would now like to turn the conference over to Mr. President Ruth Vice Senior Roth, of Group. The Lee go ahead. Please

Lee Roth

and Thank quarter for call. thank joining Rochelle, XXXX us conference third all Genetics you you, Cancer for earnings the

and today Chief our are Officer, Brandt. Early call. this Jay President Cancer me Development news under Panna our Operating materials with and The Discovery line Officer, a earlier Mr. accompany and the Relations Genetics' On President of a Chief Roberts; Services, Investor Executive Sharma; at Ralf is of & available slides release company's morning company The its section earnings issued of set to website presentation the the investor.cgix.com. Dr.

date. safe quarter of statement, harbor provide will the the and an accomplishments third significant overview to Following our Panna XXXX in

provide vivoPharm company. synergized summary provide Brandt on study of update quarter case a the Dr. will integration results. provide then, the this, unique of the highlighting third a Mr. Roberts Following will capabilities and And the an financial

these X, before the plans the and some provisions forward-looking to remind comments conference XX, harbor cause to expectations, Sharma. XXXX. With the after audio make occur over future will being We'd Reform call in company's turn the November statements Litigation it's update company's your or Private for President indicated, risks to those to these that purposes about Cancer today's cautions does events indicating actual the for Securities statements statements This Panna Panna? risks and website, circumstances that, everyone filings subject XXXX. described differ this that open under Thursday, my as made today's conference to call the and we during closing Exchange prospects reflect call Panna Securities would to Cancer Genetics forward-looking like questions. safe to November only various Finally, Any until remarks results of up Genetics constitute are cancergenetics.com and pleasure to that of recorded our forward-looking date. any statements intend the speak uncertainties Act with date, may rebroadcast on not of of forward-looking that and Commission. is materially from XXXX, CEO,

Panna Sharma

and our Genetics' clinical building you, today. CGI company. our conference our welcome metrics will earnings patient platforms and great This continues development premier of to testing into to a and the update. that results with [ph] everyone, and and services. novel initiatives focused monitoring. and the advancement the is services Cancer quarter oncology in be truly contigene operating epigenomic. driving call range the and across third assessment, precision post-cell from now bench-to-bedside oncology solution personalized for This market focus a forward, a and of share tests Thank wide by to range discovery over you extremely Lee, genomic proteomic of is precision while continued we have diagnostics and demonstrated being of oncology to We from XX And portfolio growth also, unique analysis provider

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operating over to while as committed in to -- the precision a has our new experienced this Balancing our to precision to business this deals creating past and the our and innovation position XXX% quarter. execution is and million $X oncology contracts generating as roughly increase executing all the improvements measures, precision business as increase the shareholders. company the customers. value valuable leadership got oncology, to is We also over is which margin a XX% delivered building our ongoing closed great losses, bottom quarter our well necessary entire over focus results revenue biotech critical quarter, new it income. diagnostic. pharma source continue company operating $X.X and of capability. a The creating that in unique leadership we're biotech testament that well a and across durable team improved meaningful record our and in market our contracted and the model development We and year company. discovery, as demonstration for clear We had operating in pharma quarter. set companies contracts contracts past over is lean on revenue, bookings This as We which growing this innovation, million last unique significant closed our It has unique and of biopharma It grew is of grow globally, of line. XXX% gross with or third for our is

team discovery, committed platforms value the and solution and testing for Our development been is clinical to drug to they demonstrating for value bringing diagnostics our and to the patient oncology. to have our trial

new not but drugs about that you I'd update have patients delivers, genomics are there from to also like Genetics we decision, business In only clinical are of Cancer to you our that model. are trial. biomarker who and the helps data guide and the story, those to what influences For treated,

safety used used technology and therapy new understand combination the our Additionally, now drug has target, during better therapy. been to understand develop efficacy,

that development unique the steps patients. from therapies progress identify the work technologies the to made and globally benefit companion companies creates globally our for have and oncology new bench-to-bedside. of and pipelines CGI are believe create advancement can very the a the And in choice be we to patients then in also The important that for monitoring these diagnosis realizing being do clients oncology of the partner and we and in of partner the cancer of monitor critical our oncology being portfolio diagnostics complementary great are in precision and advance vision used therapy. and a that platforms our of to of will we'll system we help used ecosystem. Our drug become to that

of show drive bio new revenue these portfolio, ratio, of identify offering that unknown but a USC, Huntsman These critical help model development research identify Many and portfolio. origin, of Sloan-Kettering, our not in [indiscernible] with School This and Cancer exposure, and institutions University, Cancer institutions patients for Mayo portfolio and our which others. power as a technology early diagnostics our neoantigen Keck are future discovery with framework. collaborative that Center, through IP-protected and and potential such cases, Our access that Cancer identification countermark that the to We the ensuring and also therapy group. meaningful add cancer future an tissue complex the to immuno-oncology new CGI R&D of aids Clinic research vibrant immunotherapy Institute the a This set the Center, patient use of Moffitt test helps hard innovation and research collaborations services, AntigenID, capability the new develop focus and to us of open platform, Memorial premier oncology to oncology. while Medicine test minimizes forefront will many our FDA-cleared and cancer, groups. globally. market-driven CGI opportunities latest are development in and measure responses test to developed from is National many services, effort allows of in our which at new and leading to understanding active leading new genomic has only collaborations translational insights precision

XX and very directly and across targeted liquid with actionable they monitoring which coverage -- from selection provides comprehensive therapy excited over pre-classified either to about also biopsy, therapy cancer This in we're for management blood provides lung XXX We panel genes related meet loan, lung genomic especially assessment and selection. cancer. and

in Now new combination diagnostics this help work biotech, model regulated discoveries can this identify No the of so drugs companion focused stage. Greatest earlier of and to and drug and and if used guide drug and therapies global bench-to-bedside integration potential with therapy in can those we positioned with you're preclinical where targets vivoPharm's and discovery we and laboratory combination oftentimes complementary setting. to identify capability, patients. trial even test the clear company with can clinical eventually bring partners pharma help process the into oncology, other for in highly is our discovery uniquely and

So and of be effectively precision oncology. those bench-to-bedside the This for essential is monitored. future model delivered therapies can

colorectal, better take and not tests multiple myeloma. are ultimately of the delivered such to shareholders. for leukemia, our wide position the that precision treatment value oncology patients. we kidney to such solid as over leadership than helped positioned and monitor to tumors breast deliver select These industry diagnose, in hematologic a In customers, a quarter, but ever and third We and and to lung, cancers lymphoma covered only as XX,XXX tests from range malignancies patients

we and in emergence the are and of information molecular an that is the care. goal Our of provide We medicine that drives improves oncology, decision-making patient to believe forefront therapy. evolution therapeutic precision the personalization actionable at

of continuous first The expand especially Services. and quarter build-out Discovery our leadership our immuno-oncology potential, of position and XXXX in revenue capabilities of was one to

Dx revenue services immuno-oncology, quarter team a sources selection, of immune leading offering, biotech us therapy a in Our cancer. to and this of should particularly cancer, with for which company. Thermo heart-E to synergistic to stage, which small first services allowed drug, downstream cell have launched oncology was At existing in acquisition new and our presence that trial. development service unique the neoantigen platform, be is improves deepen deficit research deliver expands Oncomine identification with that pharma neoantigen identify discovery to we Biopharma solution has AntigenID, This pre-IND target as partnered lung offer highly global our therapy. offering comprehensive T-cell develop company the FDA-approved improve heritage launched -- lung our of Fisher expand with this for for prudent and vivoPharm, and with innovation our and clinical Services strong the past a in test our global

our Jay and actively go of talks, the of on year, year-over-year key as cancer. week studies revenue next-gen key be but customers. the These sequencing lung strong XXX% record AMP pharma biopsy liquid quarter important quarter, case in City, for along led the biotech achievements about contract highlights results. to very offering team Salt results, In as Lake fact, financial $X and more well detail will will earlier million third over into some and are bookings revenue these with increase in data during our next at accomplishments with in presenting

significant business trial, our book-to-bill CGI the is quarter. ongoing added XXth provide trial in book X.X to and but combination by which provide to new for presents testing. test contract. very strong during immuno-oncology also and continue a not of is This only our it overall patient also monitoring we because ratio, past We opportunities And then add a

true are capabilities Our over vivoPharm will these the integration on quarter. Dr. essential a or also bench-to-bedside research XX,XXX, also drug capability. us institutions. in capabilities become to pharma test leading initiate in volumes XX% program, us will and for drug leading discovery the and up increased biotech partnership details double-digits with And and to rescue allow Brandt companies company. into These present either and again, with

reminder, significant synergy As and closed of we the third with quick forward. the in we unlock a the quarter, to going vivoPharm expect middle acquisition

that together. to million discussion generate more being has Let about Dr. contributed from top continue case me present on Ralf? and basis accretive. the as also integration perspective, a study revenue and to the Brandt like of I'd the will than work growth, the $X.X and to over already annualized doing a to financially acquisition talk anticipated vivoPharm financial Dr. to With line in discuss, a emphasize go-forward Brandt is to is of you that hand expected we're that,

Ralf Brandt

integrating efforts. made getting our you, CGI during and revenue that gentlemen, for many during even the clinical of in unique in to the bench-to-bedside advance my know for never It we of outreach has business trial happy pharmaceutical in participate been months and third months you positive The to team the becomes investor and CGI, quarter operating of our awareness first that and contribute Thank of to significant the biotech and as to trials call Ladies this coming look CGI's $XXX,XXX to present model unique were at sales companies. excited and the increase and in important initial how we market to half I'm forward need have more nearly CGI. at part drug as outreach Panna. compounds customer testing further I'm and our the discovery among Most in drive as progress contribute in capabilities to teams our part income. is higher integrated will the and combination bench-to-bedside model. reproposing oncology we able demand promising of report

service integrated for and also pharma of development customers at discovery offerings are advancing and the new We globally. development biotech companies early

increase at We immuno-oncology the our have and in capacity human the throughput Australia. both models also and planned labs characterize U.S. and and our initiatives to

bring have We and CGI's started have together immediate vivoPharm's seen synergies that and projects already X capability.

of knowledge success cell for cancer a candidate. conventional position an client of mouse RNA company. therapeutic was of stage Let characteristic of and to us occasion. for Our Its on to immuno-oncology. also to leading excellent me its solution. were vaccines. and study as this cancer pilot it engagement methods factors capabilities in an to This to deliver CGI opportunity biology and provide in case, lung of and availability of immuno-oncology development expertise the and both leverages tumor on to work this ideal you and project. that to therapeutic clients and simplifies strong vaccination example selection are us was assessment disease development kind a and size The [ph] development the this with the do. proposed capabilities this and CGI's must an harness applications, is depending endpoints occluded tranche immune its toxicology alliance vaccine preclinical Several puts in analysis for seamless treatment experience and preclinical given The compared us important in in focus nonsmall that agent of allowed clinical our solution therapeutic clinical CGI's its expensive to study are and treatment oncology-focused the was particularly, in prostate client of and biopharmaceutical in therapeutic In of

extensive our knowledge base derived lines. and First, tumor cell

additional downstream Second, have preclinical is of and the into in ongoing, third, that are clinic. understanding have applications. hope once retain we data been to advance our project the and stage. And studies we on This clinical therapeutics to from the used still development pilot information patients study

work business, discovery and work for driven need toxicology and globally. In experiencing And portfolio. strong terms of and future therapies of we increasing immuno-oncology demand be continues understanding to safety The a our are and for our efficacy improved by targets.

study we incorporates And clinical companies hand that, has an Phase clear to the and hope for growing XXXX, Thank given accelerated now we're you two developing our and going companies. to broadness testings on and of that During future of to working case biomarker-driven that from trial IND and back a explicitly. together view you. Panna. these offering II integrate the streamlining plan I

Panna Sharma

and thank unique studies develop demonstrate Ralf, These trial just development you. call oncology turn in Ralf clinical I provides our target would clinical EVP results new that third COO, to Roberts, Jay? to patient. a identify case the in moving clearly quarter. for to the presented into like the hopefully, and the the value that Jay and real review Finance program, over now helping eventually, financial of CGI in community

John Roberts

third for companies. Ralf, you, in success thank Biopharma was the our growing customer as our with growth quarter and revenue revenue Panna, highlight you, strong a that as and bookings demonstrated contracted study. case Thank Record well

internal had streamlining focus costs our with we our our continued and operations Additionally, managing reducing expenses. G&A closely on

provide on XXXX our discussion SEC quarter will the financial third which Form Our mainly for to the on please of XXXX, the available and integration. I'd XX-Q website. filed to focus in XX, today information, quarter third you is our for September first, versus update XXXX. the with changes ended on was like And At refer vivoPharm quarter additional of our an

we Clinical businesses revenue revenues on about continuing, Total to the period of Biopharma XX%, basis a X-month about to million. synergies, related is showed work experienced Services period. million, quarter it third revenues revenues that note for about and year-to-date that this Although are revenue and one-time $X.X on in revenue was increasing company. is cost X quarter-over-quarter was have growth. the by plan. in the increased total Discovery Also revenue both while All and $X.X XXXX third we the over experienced We we cost process home X-month was Services $XXX,XXX during increases quarter, the about with important through $X take is X% transaction. revenue the Services million, integration experiencing messages revenue And million. were $X

in Our operating in also quarter operating Total period expenses a of expenses compared the to expenses year third the quarter improved points. in the costs partial ago. quarter to was third a the of percentage increase the increase the an XX% XXXX acquisition a The XX% margins to and quarter year X business. by to nearly gross related acquired vivoPharm driven of in compared increased X% ago, third approximately on

decreased loss valuation share quarter warrant compared million a $X.X a net a to of loss million per of a adjustment $X.XX $X.XX in to loss the noncash $X.X third related impacted derivative of share about or primarily ago, year to Our by $XXX,XXX of or per liabilities.

loss September loss as current million, the access XX, XXXX. diluted quarter. $X.X from $XX cash to fully per million $X.X Our XX, XXXX And at $X.XX the of under total year-ago had and million equity agreement. a equivalents in of also had purchase We to per cash share we December decrease a $XX a share basis of million in $X.XX quarter was compared a

Now few items. I'd to housekeeping like clinical a provide

from end Stock quarters. from shares up the from options third of approximately quarter-end, of which the million QX warrants XXXX QX closed XX, quarter. previous at in third accounts the number was end million from in that which $X.X of charge. of of no the First, issued there at sequential were QX stock million, a common -- up noncash the quarter-over-quarter, year, XXXX. approximately the quarter approximately September this acquisition with were outstanding were $XXX,XXX million $X.X also QX $XXX,XXX at outstanding, approximately X stock-based compensation middle is $X.X was At shares in The XXXX for XXXX, XX.X in vivoPharm the the in change at conjunction

will top to our line growth and comments, revenue earlier [indiscernible] So our drive our continue innovation performance.

control leader. to we to Additionally, precision oncology Panna. on profitability margin like very a turn focused and allow management expense the back achieve us as that now are I'd to can call

Panna Sharma

to for find by CGI in line monitoring of of that this all delivering challenges questions. development, with value definitely identification that and our target quarter over from Jay, innovations portfolio continuum that, and coupled believe increase a the the precision believe line our thank to to closer I'd bench-to-bedside. being time is our more in and crude from will our being in have We to to for and to [ph] is Difficulty] and absolutely we improvement that critical discovery a with purely unique open development centers precision real provider contracts approach in significant one diagnostics. transformed CGI believe you. of the company position and compliance our is diagnostic in is global the the complexity develop describe, As precision need then model oncology in technology precision combination business, as leader a significant new that a unique we become the oncology time We patient a development. leader trial momentum have risk be a and multiple The test into continued and this drive We With one with from on pressured to up like multipronged in oncology. therapeutic complexities and margins, and a revenue deliver shareholders and clinical solve find to help associated patients first [Technical some with help into truly in closed of from line vision cost, enduring that strong cancer using we oncology developing and patient and

Operator

Selvaraju H.C. [Operator will question Ram Wainwright And you. with Thank first our come today & Company. Instructions] from

Ram Selvaraju

deal example very much made tandem in enters the active to question. more recently in already Celgene, between ArcherDX one deal Thanks And Genetics potentially thoughts which ArcherDX kind wanted future for that Celgene’s have Cancer paradigms a Hi. these companion commentary implicated companion could in know Thank and like next-generation beyond you in at diagnostics development development regarding if the what's just you. that to any was diagnostics, with, my drug be calls the you with And announced dealt oncology. you've whether potentially of candidates. just on a I the pipeline in involved on couple for taking This pertains you of collaboration? of into that developing of think thing getting

Panna Sharma

that kit in can Having Agilent, we're definitely have XXX(k) going not earlier the a signature, larger great today [indiscernible] dialogue Fisher, several think in are likely And development with that some commonplace. our are in for actively We're that question content the some like Thermo That's the drug the one become companies panel if you using out scenario. Ram. more an players more we with focused depreciation NGS companies the player, discussions with space to next-gen -- process under also create and since take the really the actually our we to a and like, technology. pharma and trials biotech technology days’ space partner And the panel. will we renal lymphoma management manufacturer, to But most sequencing those IVD the our mature. of think in in and kits of using with time IVD partnerships the

next-gen are being expression such looked actively multi-target as as that there at, in beyond that combination sequencing, think also areas new We IFCs, are technologies or especially immuno-oncology definitely such therapy. also gene

complementary-type using over those studies I we're that. route XXX today, supporting. probably mentioned So targeted fashion And trials say like clinical of vast many and, technology looking in of XX-plus percent those in to some majority, we're we safe are probably, have, at of potential CDx it's that the are those X/X or discussions. and

question. So next the take we'll thank you,

Operator

to with Maxim Now Group. we Jason MacCarthy went

Jason McCarthy

is your a It's which kind differentiated look you? Genetics at very How as Panna. are guys. of question. more because Hi, on abstract We of an focus space see the Couple questions, Cancer we in differentiating. really of Biopharma, of diagnostic/diagnostic

gene you the and the really vivoPharm I launched because AntigenID see discovery how post-commercial essentially do board you particularly you that role companion think from you in in and therapies agree genetics the that diagnostics fitting process, to to anti kind the on company a be equation. that part just immuno-oncology itself do have and would going capability into drug just are have future? are stage, many the a embedding of that Now How have to development you the of think for

Panna Sharma

a The a would think be We a That's drug signatures created that these that expensive with either proteomic know be specifically of business types of is, we are not think therapies the reason point for and can I to go getting biomarker they that we identification and piece people our helps. certain was patient. good besides They into have lot are owning model side whether effects. the the drug Jason also participating heritage or question. will of it live central of and very respond AntigenID, that you are developing think forward, our as base, development genomics process. We clearly or other in

into in. be facts or out, essential. and combinations insight thing pointed AntigenID like not tumor may or you The work work Ralf unique it targeted may identification As of in gives great will not [indiscernible] may about may what or also things

that cases simply effort pointed quarters of quarters time and think some around from run customers the our like finding biotech many an drug we them of have studies our and making the to we sample literally, biotech we our out targeted we'll global to don't pharma access enabler market, Rafl combinations the to trying are infrastructure. lab partners the data, save out, for their for time of technology. many So facilitator think of partners, And as and because they There save that case we tons customers finding happen. higher be companies rates continues easily and get from

drug So compound have that think launch expect in as economic that share to the into actual or potential combination. the of future drug the I we unfolds, or

a I next piece we've the question. the well Thank think take positioned extremely you, that's to company we'll plan. key that

Operator

with from Justin Instructions] Deiter [Operator Next hear Thank Aegis you. we'll Capital.

Justin Deiter

morning, a Panna, tell like seems additional Congratulations sales you forward? to anything Good about of on gentlemen. plenty It there's quarter. great of. the going been speak innovation can pipeline us

Panna Sharma

question, Sure, Justin. Very good absolutely.

– We have markets and into sell really -- both markets are global. as two you primary they two becoming have more we that know, we

I'll kind address to is It's of selling heritage the first cancer market. and Clinical clinicians and the The hospitals. company, market our centers to of

rate. high to double-digit the XX% I been an to about that we for As less nicely X% there. that on company again, And has strongest at digital high pipeline but retool really and a services, had. that we while tech-enabled you And have know, next-gen past mentioned, have there since probably comprehensive it’s we a force includes grow the had also In the sequencing that emphasis we've low now chemistry, services. it in sales very menu to growth, volume of continues single-digit pathology single the year,

labs that a pay major clinical our We That's with yield of biggest to in to out did entered several that now there. of IT saw, in results. our some And increase than infrastructure, and that's developed you compete We've both upgrade seen beginning increased was it's specifically, the had really we've already we've to the team. begin offering bigger we So in headcount, marketing there yielding of and dividend. into probably, And geographies. our new cost, part year-over-year. ever team that a also and in also pipeline Clinical the on sales Biopharma

the our about I market in to Biopharma. is want talk pipeline second sales The

X.X, record was over increase. ratio As increased at $X.X bookings XXX very today. our over And million. to projects our XX% That's strong XXX% this you with year-over-year know, active from quarterly of time XXX booking-to-bill year last we

a about leading immuno-oncology. at piece own that and demand of company because innovations today, is we ago, of pipeline services a big of other focused that And we're at things if market promising, high you that it's Our very launching immuno-oncology, with the biotech something in are months probably of to very strong market. terms in the really have and the one looks also the in we -- very, capabilities want very And note the this pharma forefront as offerings the in to look today. XX we portfolios of

over We or As we over well combination the the great a as XX anytime up -- -- to don't pipeline. marketplace. biotech and soon. keep meet demand opportunity that And to is sales trials, And in pharma stopping said, headcount driving we studies see see with nearly offering. I offering added up the XX and the the that recently

of yet, spending in cancer on see we The immuno-oncology. spend drugs XX% only you this forward. analysts for That immuno-oncology immuno-oncology fact, The represent that, And and a XX% is In of the that important the today of year gives immuno-oncology in driving X% are increased drugs are of expect of oncology going will the drug the drug. X% drug. account spend. facts sense approved fact, how the

So immuno-oncology. at and our trajectory just right pivoted model in I take we've time. pipeline is revenue market offering. in our And our you. think a we opportunity what of growth the question. the Thank and in a service We in lot growing and business We’ll similar see next the expanded see

Operator

Ram H.C. & we'll And from hear Company. next Selvaraju with back Wainwright

Ram Selvaraju

derived you the Clinical be we on the going become differently? to terms of whether whether which alluded were in had segment to the at a what follow-up going to forward should to in particular, and to or forward. the In trials sales. and the I comment ago quick of somewhat also that testing quarter curious respect you service going trend you highest-price see the monitored more an so scarce. immuno-oncology patients could trials, all anticipate I you I starting regarding trial challenges about highest if to be think thinking abatement a just to recruitment know segment Yes, And same on continue with anticipate Or immuno-oncology if time was

Panna Sharma

Okay.

it So almost -- and our the easier. workflow It's of margin. lot Not sample last lymphoma a Clinical, lymphoma using of questions, I'll and to the is little same major just have X be for for customer a is a take we of Services I'll platforms but a and and work, your as have prep to is segment, done a But same panel largely one each take for those that's the but - workflow clarify multiple hospital a only pharma NGS yes, first. cases. both the terms Biopharma us higher Biopharma the in we management because personnel tends sending and that segment, contribution

does the it same. but workflow course, Of going the is separately, to

to this and at report But Biopharma biotech that for lies as look margin, drive and definitely, as millions don't with drive obviously, They're we pricing to hundreds companies. financial to sales. a innovation. market you driver get the drugs pricing the segment potentially need strength the reach faster. billions have power pay of in the of more much clearly Obviously, market to dollars and, for of they take willing And in So budgets and a they much, if pricing out the the

margin drives Australia Biopharma the than have side -- offering shorter also a service similarly most work in to the typically higher XXX-day higher The Pennsylvania traditional tend new definitely be and contribution Services also and margin Biopharma, driving cycle projects. XX- margin even tend window. to loaded contribution within our us done higher or is in finding again, our those Discovery We're be yes, done also labs So even that for in today. to margin. is And

patients in because targets gives therapies the critical and them have have of care, again, the same very even to over And is drive this we Clinical we backward allows So need the is us on last us really patient we model. process. The that years a by these layered think At combination. to extend in which we it the it understanding edge the find of patients, and help at with to to oncology. time, discoveries leading impact gives real-world the earlier identify be data, we back us important and further access kind and so many integrated can the that X meaningful managing more trial of

So again, X having believe precision that being oncology in company. fully a similar is to essential we true and process, integrated all

with the space recently involved as a a others that patients you an a immuno-oncology to most by drive a different not pharma the trial including Genetics, Cancer partnership heard being with regard but Now XX Not take that XX to and to is questions the initiatives, recruitment, on other and which increased including margin. in of immuno-oncology about on of project you collaboration. number whole. some the was in on had, that the issue what's access companies just pharma, industry We NCI, [indiscernible] NCI an issue. see little broad still in A bit going patient

centers But good expect of of reaches for landscape, awareness, across a are a we're positioned both that continue are missed or problem untapped lot drive lot the across institutions, again, into fact and and patients in immuno-oncology lots diversity all patients. over more and ones recruitment, I have reaching community the testing of about that geographies, right? having overnight. -- as geography. from lot out U.K. come well months patients getting this is So about more U.S., pace because recruitment patient IO -- to for proactive the access as have all to The solved the immuno-oncology our good quickly And challenges, portfolio, so, beyond big to patient. companies news measuring of were and combination. the especially well and second-tier, us also next patient that the will think a more require targeted Not there to XX new the But Not be the trials monitoring quickly community immuno-oncology come and I that large patients, Germany. a recruitment, from don't sites

expansions other lot or like more or aggressive example, in a seeing we're these places. Australia, geographies for China So

today. the Boston, see perspective. meet the the Francisco, so typical finally think And pharmas beginning understand out this of geographic well we're San place to global that New infrastructure can they And I positioned that to York, use Dallas, you from are

enough. definitely I a we're in bit but continues fast finding patients think, a So Thank to a seeing change, be, bottleneck it of little you.

Next question?

Operator

And over back that will or to to closing today. Sharma any our I'd for additional remarks. conclude Mr. question-and-answer like the session turn call

Panna Sharma

about many thoughtfulness industry. strategy. coming our model, a we to to the think of capabilities our and thank CGI in this you, company tremendous their has of We'd road look this the detail oncology and to and everyone used you. really drive be like Thank questions. Thank more set help you and everyone. We forward to shape to on on the talk really weeks for a leader We're in precision meeting

Operator

call. today's participation. And that We will you for thank conclude your

Vyant Bio (VYNT) 9 Nov 172017 Q3 Earnings call transcript