BNR - Earnings call transcript Q1 2021 | Burning Rock Biotech Limited

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Operator

Good day. And thank you for standing by. Welcome to Burning Rock's 2021 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After speaker's presentation, there will be a question-and-answer session. advised, conference be being Please Instructions] that is today's recorded. [Operator

plans, known XXE anticipates, remind similar begin, be within such and this Section defined Rock's Exchange statements in I'd expectations statements. Litigation and other we and can statements Private and Act as many you future, Burning forward-looking of facts, and the control. confident events the and predict will, believes, XXXX Statements that Act as of like or of the all statements current difficult Before are beyond statements factors, as involve to estimates, and Such current forward-looking and of terminologies to not of expectations unknown are that about historical target, XXXX. identified amended, including conditions forward-looking Securities risks, are intends, by contains conference meaning statements. are management's expects, to operating beliefs uncertainties Burning upon Securities US of which Reform call These which market based Rock's relate are that

Forward-looking or differ statements undertake contained update you, Thank of conference from Rock. forward-looking over the ahead. uncertainties hand involve any except that does in a materially management Rock law. statements. information, as of I'd go statement events Burning such result to like Burning And those otherwise, to future any actual results obligation new required other now, under applicable please team could not factors cause risks, to as to any and the

Yusheng Han

molecular our Shannon this Leo leader two our of and for our oncology. Zhang; Joe parts are we Yusheng Burning Chuai; Han, of China's Thank today our precision diagnostic call. Rock I CFO, CEO COO, call. CTO, have business. And Rock. to am is Burning in you. Welcome also Burning There The Li Founder Rock's earnings and the

selection for the and to page pan-cancer. detection first four. using The MRD. for is one liquid turn and second biopsy therapy And is early Please

therapy we're progress So recap and selection. the early detection today, recent to going for those

detection, at to great But Biotechnology, And ask far. selection, for finally our in which session. talk financial that, biopsy numbers. we trials we Shannon And the so for of the in second COO, trial test, SEQCX X-cancer Joe And therapy mostly. proved liquid launch our that that X-cancer top tier will So very has our level if quality published about PRESCIENT. will the well, PREDICT cancer talk two team our called for X-cancer which SLPS we going [ph] Chuai are test of test part in the to at about about Burning the excited have it's question, detail. and welcome XX-cancer us And will early multi-omics is significantly of preparation Nature world. the these our Leo, any and commercial are the CFO, commercialization CTO, optimizing operating of important Rock's ongoing. the after And the And building detail. Q&A talk meantime, is our [ph] the have you report in continuously for news that to Nothing is the results And

So let's detection turn first the about to to early part. Shannon? Shannon talk

Shannon Chuai

All Yusheng. right, thanks. Thanks,

detection to to go program. product is roadmap we if this our for recap the six, development So, page early

a includes pending for January year to the the able And XX%. accuracy the you think then are our results then on year maintain released lot X-cancer test, XX% improving move on ESMO population. in we So manuscript the Liquid has the been to we that X-cancer of and we lung a started on most is the validate most XX as our reasonably test, sensitivity, November study - actually with about improved a were accuracy ovarian, recently, we then tissue-of-origin and last study specificity on test, cancer, interventional pancreatic results XX% which the were TOO and to data to study, that publication methodology And and publication. the X-cancer a test And Special year. data Biopsy. with a now. we Conference on which to esophageal. in from from were the in and high the the showed colorectal specificity right we And the AACR to product, cancer, a for specificity specificity while lung accepted of And we - - XX% cancer proof-of-concept to asymptomatic the able the achieve XX% covers analysis, for were X-cancer in move liver, sensitivity recently presented prospective And was we released last case-control about We as also familiar a THUNDER this, test six-cancer or last also for good Asia. achieve able analysis I planning The to after sensitivity. study

study I'm later on that So going we in most really to are test to X-cancer the on show and And we you focus overview XX-cancer under an recent, currently And to wanted the exciting very making is test. looking today, that planning. forward the pages. progresses

China's development XX% off tests for have ago XX-cancer will XX-cancer kicked is called status in also earlier the we expected, we of progress May the eventually As that is very just had test, mentioned, then a the started few all, clinical and and the cancer large first that cover and test, Yusheng XX-cancer PREDICT altogether. for weeks XXXX, that a study, the X-cancer ongoing smoothly of as the incidence current PRESCIENT. And about it's for is our study

tell going PREDICT about the the to little study. and later for timeline in both So about bit design pages, and PRESCIENT you - I'm the the study a

if seven, of is early the program. we So detection at an looking we are for page overview programs go this sort clinical to that of our

four phases are for each roughly or And the each four, our so development. clinical for version, or product, of products, product generation development or each there

key move of features marker again do one, including the for to way, the the able using detection design, And which the sensitivity, study. chemistry performance able sort And the accuracy you asymptomatic in population. The then will do of specifications. are [ph] controls finalization. we the one, will also from can essay prospectively - we'll And can CCGA be validate of which accuracy, for then use the first from study. what for asymptomatic testing on they for these a that early population And performance specificity TOO and in the [indiscernible] reference healthy sensitivity, eventually in we to validate materials on we which specificity, the in the - validate It's In controls. recruited selection panel studies validation you case-control then is to in the assay think this to studies, to well, we move the laying these to Grail clinical trial similar on to to And to cases intend here validate And the population or that, intended product. Grail. - the on to the samples compare be eventually, gallery and use as case-control cohort. after TOO or statistical analytical on go analytical these and in performance this sort studies we we is the the development as to real clinical are out

we we did the development. validation, the analytical development So move for to our finish after on X-cancer assay test, clinical and - we

hope the cover population and finalized as analytical of currently are X-cancer the as we're X-cancer THUNDER the the types. more So study the study parallel, on on will validation, we under And sensitivity the its be to And moved able details training test. asymptomatic in disclose last released, meanwhile, that to X-cancer assay a the [ph] study. we we is the of cancer we on was more to more the interventional moving and again, we mentioned planning. completed or then the study cancer validation in able cohort, and The off for so show then, prospective about far future. that page once And we in near development to - specificity. case-control in in and to we for which also the kicked the test cast, well THUNDER forward And pre-specified study, have on what XX% as XX%

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sort over or are healthy bit So study on asymptomatic that's here why task the though it's of powered not standing fully little even beyond that we case-control the a to population.

worked it's development phases later more this will were pages, next the out. the able are the I and And for in actually how stage. test, on the we of you product the study working assay under of then the XX-cancer So of meanwhile, the in generation details two developing be give to currently

preliminary test. or from product, the the are we XX-cancer of the PRESCIENT because results However, information as able planning study previous study we of that versions finalize were the a collected to that the we design of for lot case-control

the So clinical for recruit that's of parallel future will studies, product be samples efforts. why the for the XX-cancer we we validation to or testing in with test development kicked enrollment so this off have able samples,

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for our timeline listed the PREDICT. on we page, So, next objectives and

cancers. the of And PREDICT and X-cancer from analysis of the we types which the train among to know X we - other model data. different they then different chance - among timeline, secondary the will might that's the we test I enrollment methylation samples, will of wanted terms that by performance are to has help then last the study able for point picture we study. XXXX attracted objective we whether and help follow-up able will Zefei stages Beijing XX XXXX. of Dr. the in and do of readout expect in on course, conference our the moving Jiang, community and for how for parallel from be to to how principal announced do end of On held so some attention by attention investigator of about sensitivity, and have will And page cancers primary will Standardized and data. Phase XX in specificity PREDICT And the Phase processing, we objectives, by to to we then, when for this XX, for XXXX, is And we, also, expect types explore Chinese a in we [ph] PREDICT ago will wanted end So, – design cancers. - protein Jiang as including and in them page, the the to finish a was the Diagnosis that and they a the well mentioned he And Oncology PPV community. be II attracted also then my help study it speech a evaluate course, by combine keynote not readout these learn to in so Conference a do validate these the in the biomarkers least, oncology break out - study and types, presented to also in of we with couple have way, the least of among biomarkers, data of on a that and Phase have by but whether the the the in TOO the for at will the methylation-based follow-up to lot was Treatment something and they cancer we XXXX. complete cohort then And Conference after month this lays the complete period. finish markers, the as cfDNA be design PREDICT of Zefei we of have I And And of the weeks the that during a news And National the on far. then study. of we next wanted has data the PRESCIENT set the to PREDICT page interest Dr.

So compared dimensions study, PRESCIENT the has expansion. actually PREDICT of study two to

on also The listed two X-cancer XX-cancer similar types, which first extending are obviously the the types And now right into has the phases. the to is design, it upper divided from but again.

of and will just much different different be won't other cancer. samples, as detail genetic, However, the exactly terms as protein it has types other combinations, the protein timeline, we expect another plus study performance will beyond the extension able too for not PRESCIENT and of sets. the again the again, to the XX-cancer as epigenetic we and profile disclose - study. then dimension validate biomarkers be assess And on then for PRESCIENT the specified the then, markers XX, page and to exploration for we that of on we XXXX, very to to in training will into extension evaluate - be methylation divided able importantly, from validation objectives type PRESCIENT on PRESCIENT we the we different study will in enrollment the and the testing well are omics what we biomarkers we by protein then PRESCIENT methylation there, will complete be potential test, to the PRESCIENT among is able methylation markers among study including cancer able the from well be and we And but the on stages types, also the to And for the the but combination. focused be will omics

training model readout able - by another set, in the to the XX-cancer types then walk set. from the to from study will and the XXXX, the training expect be year, end for have of So the we the we validation for

to So on you XX, investigators page is principal PRESCIENT. XX. On for this introduce PREDICT page to and the again

PREDICT We very and proud PRESCIENT tier have lead the we trials. China attracted that successfully oncologists are top to the in

PI PREDICT fellow Jia Zhongshan Sciences, Hospital. Shanghai of Academy the Dr. is fellow He the the of President top on of - leading So is the for the also Fan and a the Chinese trial. the of

of more XXXX, year. one comprehensive per Shanghai and So you China's was for are those the academic serves of and hospitals, Chinese it than about operations XXX,XXX XXX,XXX top largest not familiar it the Hospital, performs year ranked And each Zhongshan among very with hospital, hospitals. who in inpatients general five in China's

the Chinese the is of fellow leading top in China. on he on and is Cancer Medical of of hospital He, arguably the So hospital specialist of President Hospital hospital cancer bottom, Sciences. also Jie the And a the - Dr. Chinese our This PRESCIENT Sciences, the he Academy study. Academy is also the of of PI

we oncologist has of and interest we in and past PRESCIENT high timely in as oncologists key will especially and these are of this development from which a maintaining are operation study, our study actually cohorts and top early it data, in leadership and and the reflects lot cancer field. - very it cancer leadership our successful So well year acknowledgement the China attracted detection, leading proud recruitment community attract growing did to attention detection And also position course quality for establishing that serve it a the products. in our so, or sharply of the think PREDICT position early ensure of a of in

- So in PI's, level to these and the China. we community their among are oncologist you they excited share are in with

Zhang from about to study. tell think I'll Dr. I SEQCX released more our pass Joe? that, our to with Joe the you So CTO, results

Joe Zhang

Shannon. Thanks,

of of strengths cover to our So a so business. XX, slide I'm terms part, little highlight therapy therapy selection further going Burning is selection Rock about the bit a a in what's which

in for but to well also approval the I'm point regards number But penetration. a NMPA the with first one published consortium today last the kit - led the different focus of evidence the the by in is slide showing on control in process consortium IBD quality is XX. effort This learning as pipeline, as a a product, commercial led So the superior Consortium FDA which month - which led bullet business. the superior and to community on they paper product, Nature sequencing basically is This the effort and MAQC focusing Biotechnology. by a is which call going by

as both the part, participate So, what been is so has tissue-based. published. you which can here, paper see biopsy as the liquid pan-cancer in We well

So in been liquid published last biopsy has the month. study

highlights XX well basically assay, what's design. the page as So, study participating as

So there's a kit a all vendor, being produce the company are different customer capable to five liquid biopsy means, and they lead format, kit participated, which while sell the them. all to use panel and as

for specificity, call trying truth will - and it to data ground within principal false-positive labs. investigator and guidance performed on the and led to Then true effort Rock Burning the perform for vendor also lab as So across positive the and will to generate and evaluate the the the what's their and kit project one this bioinformatics and the by material know reproducibility FDA the well also participated the data FDA. study as kit using the result peer lab on this labs. also - as which we a be different assay sensitivity to library of rate, is as trying submitted trying will and evaluate the this Chinese and analysis. And based – the to kit at vendor based vendor’s in Also, study, distributed the receive vendor’s distribute look the to only sequence reference SEQCX the all each pipeline

being top here. OncoCompass current using which panel liquid XXX vX Burning listed in we the and study for biopsy table the current in hand panel So lung the Rock genes plasma call Target

across the kinds several and comparison product. of basically next different for XX So, key slide highlights panel and slide, performance

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close the to similar coverages to each all the are other. Just

like probability panel frequency slide basically for of calling to different and and can XX, the has for - what's compare at one the column variant So compare one ground being be capture different this truth say, a - and true at the And in sensitivity, slide, replicates each kinds the lab. one kind PI four on hybridization panel which next But whether in of based as look very they different different represent frequency able different different. and it look on are than a things. each low very panel for one call since how different a positives, then – this panel low sample, the in side,

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Rock, percentage X.X% being higher color basically, even if been ended, some for X%, filled is panel. for it's all calling As you almost other of here, Burning the can than the low applied frequency have see our

performance So to bioinformatics a showing top of this these you panel, lot confidence this as showing give kind vendors. our just is compared molecular vendors, biology pipeline like a know, other - pretty of to our as the well classic, especially

or within XX, different reproducibility So the compare panel, they across slide, slide next for lab. kind just is at across look slide, of panel, across it lab how reproducibility

process as labs performed. multiple there's times, four sample each also So same lab

the of DNA panel there amount so put - input other XX, see kit. and different reproducibility kind showing Rock compared data compared more is higher of also then this trend. slide to vendors each showing the briefly within Further can sensitivity, like to just in good performance Burning the here, the kind there, you know as As pretty DNA of sensitivity and compared we

as the sensitivity, basically pretty X.X% stable For the panel neurons assay at and low frequency very well by line X.X, and for high showing good also green neurons performance. even a performance represented that showing as reproducibility both on a very as

compare and briefly, slide curve. input they just compare the you analytical the For of across sensitivity PPV. panels the, - And you precision it predictive based is. XX know, as here the the call, four different precision can reference many and sensitivity this representing - XX, And the the means you rate and accuracy very we is positive sensitive the based on nanogram true - material on value positive which how is the means how

see So, comparing the the the the best graph top other the accuracy corner the and of Rock to to performance. can this showing means especially analytical closer We panels. better Burning overall right here,

lot zone, top and showing that compared selection and on these from only reference the using is our to different like, showing know, in famous product lot material, the doing across a not same also all kit the a a performance and of that. both published, So, pretty comparison us confidence say, give as you world, the and been information basically therapy paper just vendor, this gave we've us panel relatively but of fair good China, a in

Leo, highlight. Thanks. hand So, to the here therapy basically, I over will just talk I financial. to part about selection conclude

Leo Li

Thank Joe. you,

our on selection on first, of therapy that our our revenues business. from generated Our financials our page are we are mostly top for numbers. presentation, And focus line XX all we'll this recap shown and quarter

XX% of revenue anecdotal on year-over-year are our – gross there growth rate, able indicating our channel, by is is grew period. by in-hospital data grew able XX%. points, been to is to clinical from By So our In XX%, our still detection and year-over-year grew revenues with this a this industry development. central some growth we achieve. grew lab In XX% which under above industry R&D we've contribution happy year-over-year quarter, profits no the a first observation in We We we've some that revenues been our gain shares basis. early yet, on basis. that grew XX the

talking quarter, sequential by Within in about Beijing, other in the first and Shanghai, key the resurgence January China. cities impacted COVID few trends. was and a [indiscernible]

that customers. was quite on Chinese So key of at the did a month. the minus was XX% a sequential month the Year for was first due rates quarter for January an negative February, testing and Because to February okay negative growth have some our New and Q-on-Q. track negative volumes from impact of March

looking Now have of previous of million XXX rest at XXXX the a our is we the the for earnings which from year, year, release. RMB full unchanged guidance

hit target. have run achieve that yet We to the not rate year monthly full

our testing our be multi more of So NGS execution And is there differentiation. in is certainly we need at driving most doing, executing format will the competitive in of key work in we And penetration, of China. additional putting doing, we NMPA pipeline registration our the of process this number what building year terms one, be second that we're typical for will penetration, which to do. important in in-hospital of is terms because are strategy, think terms which continued NGS available test hospitals, more

initiatives on these success the focused for our So selection therapy of remain business. long-term we driving

questions remarks we conclude open Now our with please. that, prepared up and we for

Operator

[Operator you. question Doug Your Thank of Instructions] go Please line from first comes Schenkel ahead. Cowen. the from

Doug Schenkel

and taking detail screening, the Starting my topic Hi, today. provided appreciate on asymptomatic all you I good you questions. day of the thank for

back from PRESCIENT regulatory to studies allow You and be from Three reimbursement? programs. FDA you sufficient [ph] precedents, in and a to least of it what Pathfinder believe your standpoint and target One, in indicated PREDICT these allow to to and the THUNDER, be fact, know, reimbursement. Most to based States for will and companies, for referenced questions comes Second, asymptomatic XX-cancer I regulatory and in remarks the remain unclear to regarding or is will product have United prepared large, acceptable approval over pretty if by sensitivity reimbursement? Neither because the approval patients. things that want are are a FDA West and studies. perspective require approval not, mean large in support as these do good CTGA prospective sufficient randomized go XXX,XXX are when that X-cancer, launch specificity? important for studies CMS reimbursement And would big me. like study I screening And required you the how to at third, comparable this studies. X-cancer

So they're not at are at programs or targeted markets, I the US understand Western China. your targeted

the So it the what market be again, to three asymptomatic helpful given different. as to would my understand, answers questions, screening, relates it just to are is

Shannon Chuai

your Okay. Hi, Doug. take I'll try. I will Thanks question. question. for your

a your all, very the asymptomatic will have for be PRESCIENT first we apparently think answer are they testing asymptomatic question, straightforward especially the powered participants, the the control not studies, the And enough check with point, population, real through the up examination to asymptomatic assessment enough because of validation it's precise no, and, first or relying complex - So health you because for define know, PREDICT [ph] know prospective don't a on they study, them for through these sensitivity, a enough also actually, in they're recuerdo to arm going that, naturally but because go the you don't they once in to asymptomatic their population. recruitment or a the strategy free physical up sensitivity habits “healthy”, have actually, life. for other purely study on necessarily whatever just symptom as need the actually, at we through go check the health

design - for give to on the designed. the us PRESCIENT which prospective cohorts, studies. case-control not population and even give designed designed be the are, us PREDICT or powers, or performances. to hand, other answers not answers or interventional asymptomatic us to for will the asymptomatic to They help So future design They're are

the that study planning, different a that X-cancer test. the the powered we designed to for for answer the under one just us and X-cancer will population give that's asymptomatic be test, for mentioned, However,

So that the think one for are road for we designing we purpose, do the potentially or registration. down

we're to enough level of going pass an But answer Of clear to point, early XXX% at is a whether crystal in pay least the product be is At course, powered have with an for product. answers, a the would the clear. near as the products benefits through or at pocket enough. pathway anywhere having not that registration, least, question be MPA so out registration about its crystal individual the don't China this detection we conversation to

to that a for don't level - completely you reimbursement, a only have benefit. you you have it's Because with different agree an not story. you establish a have However, to benefit, level establish individual reimbursement I for population

to for in beyond So, order lot just you cetera. types, do et that level, a to evaluate different need there that, individual specificity are cancer sensitivity, on more

establish, health You benefits you economics, also et terms cetera. to have know, in of

times China, the before, also So, in this market. out-of-pocket an talked is think China, out-of-pay I market about in few – a we

have it's So the to registration possible believe things, might have we to able you and of have two preliminary as might change, will we of that by on. and, and reimbursement. But we benefits. showing do China level individual is the in this result, again, time registration be There course, know, goes of sort the more and just things is information

Doug Schenkel

was that Shannon, really that, for much helpful. so Thanks

are topics other more probably my for Leo. I think

how said, the quarter, have and the That relative of So March volume in Leo, of wasn't lab, been regardless QX. Lunar and was in was and QX, went dropped terms central QX. volume that than January lower the being specific wouldn't given just to New to shocking, Year also maybe in quarter,

second in more largely of dropped just this since was a levels of volume ASPs you And that as importantly Additionally, both function dropping revenue channel. back a not dynamics, to maybe the last bit. know, seen the and if quarter not year

think you sounds because like you competitive So it it just pressure market. on any the the that's like sounds topic volume, of there's think on ASPs, don't

when guidance? building how of So quarter? know, kind mix? the you pressures are off pricing you that lab what's Or the of about product know, pricing the volume year, function of then, of the essentially And channel built market in to you a balance over ASPs, thinking was that, were comes and there in it central into

Leo Li

Yeah.

So, central product do see and lab with we did was for channels, that fluctuations quarter-over-quarter, the mix. more ASP to

for that first channel driven changes So, and the product mix so, we seasonality. during any by quarter some much pretty have made shifts and pricing not

quarter. first the for was that So,

Then the the mentioned we commercial typical lower at other in-hospital more there able in penetration, versus the we are look be for NGS non-products channel. with channel. look of to work central compete at, whereas future is of through. barriers, a we be for the strength most the building and we remainder we The the as lab earlier, very testing. central into better some a channel that lab, NGS entry do year, For to growth more efforts believe channel we central putting aggressive product if our we'll important structural of think as the formats We lab will if is fragmented the need factors channel in-hospital channel, will we penetration, think are challenges institutionalized where this

be think looking in important of of driving will growth. we rest the terms So in-hospital channel the for year,

the have building For central and or team our been headcounts. sales channel, we the lab in-hospital,

So marketing expenses due headcount increasing sales increases. and mostly we that's have and time seen over to

build putting channel, speaking manpower time. that physicians take grounds, think are but on more up we more the to this we this to So will

Doug Schenkel

also in in-hospital So dropped central the and below channel a in third more the QX in attribute normal and in to ramp you both largely feel mind seasonality, pronounced performance fourth Would levels quarter in-hospital keeping versus thus, know, about quarters? generated confident the lab the Leo, know, revenue the over coming pretty you of that you you last.

Leo Li

month. of channel resurgence typically January during the we ordering were Year. was lot expecting New The first was COVID Q not drop Chinese was as a in-hospital that Then the of And expected unexpected. there

hit So have we that been Without better. did would us. that,

quarter, month happy on which were the second the as we a March, of closed grew hospital trends, we second the not have volume double about digits. being watch keeping we at quarter for are Looking And yet. volumes

Doug Schenkel

on my And guidance. is segue again, question, Okay. a perfect that's to last which

was obviously, the guidance What first New like know, confident you performance reaffirming you anticipated? the It you QX, seem QX, in that of which the made it over like on in lab versus does than was you the it March you headwinds it is. in fact more were more have is there Lunar the always performance early central probably might that what quarter saw in out part and surprised quarter in coming in-hospital of in spite the You of as Year, the and March. of sounds knew COVID January, impact

Leo Li

way. were first looking year. that hit versus butter half And guidance, we did it we some were of heavy the the lot by as we in expecting January, our And second surprises at get terms that so [ph] guidance. played building of And of leave out Yeah, in did for we half a lights COVID fluctuations.

ramp the the revenue rates, up monthly need that to of do achieve full rest we which yet we haven't our be year, to Looking for year run run to the forwards hit rate able guidance.

to And and to work update in the hard. we So need look forward earnings guys go we next call. you back

Doug Schenkel

the all to Thanks of details. you. Okay. all appreciate I

Leo Li

Thanks, Doug.

Operator

you. Thank

from Ethan ask question. question next your America. Our of from comes Please Bank [ph] Terry

Unidentified Analyst

from for And Thank behalf David I'll you taking two questions Lee. analyst of ask question. my of America. Bank on I'm Ethan our

that, information The there we about Is test? first changes X-cancer can have some is for guidance? timetable update our any the

Yusheng Han

You mean early detection, commercialization? for

Unidentified Analyst

and and NMPA, is with update? discussion approval Yes, like there any

Yusheng Han

for and team about And doing we to talked be in time and operation. the timeline, EIT commercial [ph] going also commercialization now, know, of our prospective clinical You executing trial. we are we're the last terms the

point key consumer pan-cancer think we is the early that detection So for for the side. early the

from time, recruiting industry. commercialize Internet consumer we but a right found also thing you team have the that. And So consumer And at believe - totally are the in that the new - already we the we recently market. same that industry that's to know, and way

to the whole time to build next when it's up So SLPS process. time optimize and an how

so will terms we're as that that? is about of early the year. we trial, said far, clinical the that start right And next on seeing commercialization will everything in So, the track, talk Shannon

Shannon Chuai

honestly because ongoing also, detection early clear registration [ph] nothing as I having feud NMPA, so is a we pathway point - said, of ongoing gave ever not there's think don't we products, I an at whole with are, for for Right. are conversation yet. course, this any guidance we and that sure the the or the registration

process I So dynamic with the or discussion NMPA. think it's a

So that getting a we as what study the expected, you everything – or give - we we progresses planned ongoing - yet. and But asymptomatic efforts among the that's as time. for out the other or that don't including we what are timetable for that last going successes, as planning population, [indiscernible] on released see the could we the specific also have have still

Unidentified Analyst

clear. Thank you. Very

PRESCIENT how participants, are difference they Do PRESCIENT there has the question number confirmed. for PRESCIENT has you. why second can and Thank about PREDICT the you so while is for number And participants there's think to And of the illustrate around why about in study. more XX,XXX that and and XX,XXX this help fewer us been PREDICT a around study our participants? are

Shannon Chuai

those Thanks. noticing little And Actually question. at least data type. good X-cancers. It's the X we have PREDICT, out a X-cancer rich Thank because other very out you a of that. for there's bit for preliminaries still for quite X-cancer, the on

planning stage-specific sensitivity the for to and size, study the we able the were sample a to estimate and accuracy. design sensitivity, for So

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and for these for have apparently longer because because road, However, is study, don't down or nine. the preliminary much knowledge also when its the as other PRESCIENT we data about are as the planning XX-cancer we types

when specific and PRESCIENT So for we instead its cancer the that's cancer study estimate specific the sensitivity why designed more of estimate. stage

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samples all So was But each more all we fewer calculation actually see why type. planned in sample on for we were sizes the size PREDICT. And in different other the study, especially for That's for the based allocated design, objectives. have types PRESCIENT for the types. different X-cancer cancer samples XX-cancer already covered you sample that the

Unidentified Analyst

Okay, my thank you. clear. Very questions. all That's

Operator

Thank you.

next question from Sean from Please your Morgan Stanley. Our comes Wu ask question.

Sean Wu

study. the curious my actually I'm of that for taking for question. And core about [indiscernible] used I also you Thank kind - Okay.

cancer exactly them for like - so good them and sides that you [ph] clearly more from nine, sense, does did one. you’ve very designed successful in for some have one, many out and XX,XXX been the it getting nine, PA XX, very different kind improve come PREDICT, single doing so of Biogen cancer. cancer my the were oncologist of or just And much. of type, results combined don't say, will why XX,XXX, lot you Let's and your together? study have finally, as purposes cancer of prostate much more for prospective part X-cancer the for get Those for What's type And liver I intended also I found so key have two and advantage How well times by the of versus out hospitals clearly one And how those come two trials? - you think one [ph] liver for with product PIs, just one? or the basically and conclusive them? you in some you program. you people numbers? you [ph] possibly your difference, a with top for this of your how detection expect some and do [indiscernible] You mean, so especially one of Thank then type also other designed with curiosity, getting competitors, are clinical combine And

Shannon Chuai

are are all, Okay. specific I sensitivity. PREDICT, objectives, Well, type and one based size, to we Predict PRESCIENT explained, designed just and stage as previously sample the different study aiming estimate first cancer for of on for

on because specific we we each actually only the cancer cancer as PRESCIENT, or design support cancer cancer assess have type we type simplified. that's will But for - and stage, previous for knowledge to specificity more So, much yeah, sensitivity. why types allocated didn't cancer

change. the you products. all also use we hopefully we it's for test relationship combine have the products will question, and of we're test between product. roughly your molecule our generations. little the bit study, X-cancer why product, a don't for just two, for for the And, PREDICT the because are PRESCIENT we add-on for just also XX-cancer selection, They're two different our not study, will not and Actually, and for - the generation why two fewer two study. plans know, they will So size PRESCIENT an because that's And next improve using model then PRESCIENT between sample the chemistry all the

for cancers So that's already for the your principal new retest see PREDICT. to why tested for that on performance its were we comments. generation, have the holds about investigators, you question existing in to the thank X-cancer whether it or will even last improve your And

there scale, and actually principal requires to and on the two, sequencing finally also or to We getting that has are studies it application. are also few to impact not amount think large bringing capacity strong especially early strong them one. a as in be a three detection very and the plus detection it [ph] that proud into And new host that biomarkers, early is epigenetics of the technology lead years lot reflects in know, close next the PRESCIENT say investigators. But nowadays, and the would cancer, or actually to real hospitals attention said, based about new early the PREDICT is app and contribution of That's you learning technology, has can and a lot really like in reality machine group realized, ago, to and of cancer capability generation that application able from be interest these, I believed a especially studies the like oncologist organization they actually, very powers in, detection. China often for believe community. or multi is real make I

top have capability impact So the and actually cohort these or operate in studies. only be the that's clinicians able why to really China large oncologists to

to the that fulfill also Did have and think passion they well question? that's I the innovative why your ambition as answer studies. very these

Operator

All you. right, thank

end the reached session. the have question-and-answer we gentlemen, and ladies of So

for conference we with our that, you for Thank participating. today. So conclude

You may all disconnect.

Yusheng Han	Founder, Chairman and Chief Executive Officer
Shannon Chuai	Chief Operating Officer
Joe Zhang	Chief Technology Officer
Leo Li	Chief Financial Officer

Burning Rock Biotech Limited (BNR) 25 May 212021 Q1 Earnings call transcript