Guardant Health, Inc. Common Stock Morgan Stanley 24th Annual Global Healthcare Conference

Thanks, Callum. Thanks for having us.

Yeah, sure. Great to see you guys. Q2 was another fantastic quarter for Guardant Health. The flywheel of Guardant is moving, accelerating, and a bunch of stuff that we work on for a few years, they are all coming to result and contribution for Guardant right now. Overall, we reported greater than 40% revenue growth year-over-year. On the oncology side, volume growth of over 60%. On Shield front, the growth of more than 250%. We reached a point that we are not building CRC screening market with Shield anymore. That category is already out there. We are at the phase of category scaling and developing that market as fast as possible. On oncology side, the smart liquid biopsy and smart platform in general, both on liquid and tissue front, is resonating very well.

It's helping to develop the market and help us with a bunch of market share gain through a bunch of application that it's enabling for the oncologist to provide some additional actionable clinical information. We are very excited of what we reported.

I think we just talked about all of the great news on the volume growth, on the revenue growth year-over-year. No, it was just another very strong quarter from Guardant, and yeah, we're really pleased with Q2.

They are really at large scale complementary to each other. If you look at actually guidelines now for a bunch of cancer types, dual testing with both liquid and tissue is indicated and recommended in those guidelines. What actually the recent FDA approval of Guardant360 Liquid CDx provides us is really simplification of that ordering workflow and making sure that both tissue Guardant360 and our liquid 360 are orderable and accessible for physician, and they're reimbursable for us. The data that's coming out is also supporting this kind of dual use cases. It's more than really competing position. It's complementing on the data front. Also, having both of these two assays really helping us to really enrich the data platform that we have at Guardant.

When we are looking at, we're literally the only company on the CGP front is providing epigenomic information and capturing that data at scale. There's a lot of apps that we have developed so far and many apps that we have in pipeline enabled with the power of the data that we are capturing.

Yeah. It's a function of different cancer types. But in general, tissue is well penetrated. About 70%, 80% of the market is developed. So really what Guardant360 Tissue with the innovative platform that it has enabling us to do is really the market share gain relative to the competition by providing additional insight to the clinicians. Liquid biopsy still is pretty under-penetrated. When we are thinking about maybe overall, and again, cancer by cancer is different, maybe we have about 40% plus minus market penetration at this time. For a single time point use case for liquid, there's still a lot of room to grow on single time point, and then on the other dimension of really going toward longitudinal monitoring and providing multiple testing per patients.

Right now, still we are doing 1.2, 1.3 tests per patient in terms of liquid and tissue testing, and that number can grow in a meaningful way. We are also very excited with the recent FDA approval, which really was landmark for liquid biopsy field and especially for Guardant360 platform, to enable longitudinal monitoring of the patients. It's a totally new use case for liquid biopsy testing.