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Personalis Grows Leadership Team with Appointment of Christopher Hall as Senior Vice President and Head, Diagnostics Business
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Personalis, Inc. (NASDAQ: PSNL) has appointed Christopher Hall as SVP and Head of Diagnostics Business to enhance its commercial strategy. Hall joins with over 20 years in diagnostics, previously serving as CEO of Naring Health and holding executive roles at Veracyte. His past achievements include scaling Veracyte's diagnostic revenue to nearly $100 million. To facilitate his role, Personalis granted him inducement awards consisting of stock options and restricted stock units covering 500,000 shares, vesting over four years at an exercise price of $2.67 per share.
Positive
Appointment of Christopher Hall expected to strengthen leadership in diagnostics.
Hall's extensive experience may enhance commercialization strategies.
Inducement awards align Hall's interests with shareholder value.
Negative
Concerns over continuity with leadership change.
Potential experience gaps in the new diagnostics business area.
MENLO PARK, Calif.--(BUSINESS WIRE)--
Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for cancer, today announced the appointment of Christopher Hall as SVP and Head, Diagnostics Business. As part of the executive leadership team, Hall will drive the vision and strategy for commercializing Personalis’ diagnostic product offerings.
“We are excited to welcome Chris given his immense experience in successfully scaling diagnostics businesses,” said John West, CEO of Personalis. “He is a great fit for Personalis as we expand into the clinical market. His track record is impressive – from CEO of a health technology start-up focused on multi-omics, to prior roles including leading Veracyte’s commercial organization, launching its products, and growing the business to nearly $100 million in diagnostic revenue.”
Hall brings over 20 years of experience in general management and product development within the diagnostics industry, most recently as CEO of Naring Health, Inc. Previously, he served as President, COO, and Chief Commercial Officer at Veracyte, Inc., where he led the company’s commercial entry into endocrinology and pulmonology and scaled its operational groups. Hall also served as SVP and Chief Business Officer at Berkeley HeartLab, Inc. (part of Celera Corporation), where he helped a new product launch and restructured operations to improve profitability and streamline delivery of services.
Hall holds BA in political science and economics from DePauw University and an MBA from Harvard Business School.
Inducement Awards
Effective on October 31, 2022, the Compensation Committee of Personalis' Board of Directors granted non-qualified stock options to purchase an aggregate of 275,000 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 225,000 shares of its common stock to Hall under Personalis’ 2020 Inducement Plan. The inducement awards were granted to Hall as an inducement material to his entering into employment with Personalis, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The inducement stock options have an exercise price of $2.67 per share, which is equal to the closing price of Personalis’ common stock on October 31, 2022, and will vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and 1/36th of the remaining shares vesting monthly thereafter, subject to continued service through each applicable vesting date. The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and an additional 25% of the shares vesting annually thereafter, subject to continued service through each applicable vesting date.
About Personalis
Personalis, Inc. is a leader in advanced cancer genomics, enabling the next generation of precision cancer therapies and diagnostics. The Personalis NeXT Platform® is designed to adapt to the complex and evolving understanding of cancer, providing its biopharmaceutical customers and clinicians with information on all of the approximately 20,000 human genes, together with the immune system, from a single sample. To enable cancer sequencing, Personalis'Clinical Laboratory was built with a focus on clinical accuracy, quality, big data, scale, and efficiency. The laboratory is GxP-aligned as well as Clinical Laboratory Improvement Amendments of 1988-certified and College of American Pathologists-accredited. For more information, visit the Personalis website and News Center follow Personalis on LinkedIn and Twitter.
Forward-Looking Statements
All statements in this press release that are not historical are “forward-looking statements” within the meaning of U.S. securities laws, including statements relating to attributes or advantages of the NeXT Platform, Personalis’ business opportunities, leadership, plans, or expectations, or other future events. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any anticipated results or expectations expressed or implied by such statements. Factors that could materially affect actual results can be found in Personalis’ filings with the U.S. Securities and Exchange Commission, including Personalis’ most recent reports on Forms 8-K, 10-K and 10-Q, and include those listed under the caption “Risk Factors.” Personalis disclaims any obligation to update such forward-looking statements.
