SMFR - SMFR STOCK NEWS

Sema4, a health insights company, announced significant leadership changes on August 15, 2022. Founder Eric Schadt has stepped down as President & Chief R&D Officer and from the Board of Directors, effective immediately. Matthew Davis, PhD, has been appointed as Chief Technology & Product Officer. With over 20 years of experience in genomics and AI, Dr. Davis aims to enhance product strategy and innovation. This transition marks a pivotal moment for Sema4 as it seeks to advance healthcare through data-driven insights and strengthen its position in the precision medicine landscape.

Sema4 Holdings Corp. (Nasdaq: SMFR) reported a 19% pro forma volume growth in Q2 2022, primarily driven by its reproductive health and pediatrics businesses. Despite achieving a total revenue of $36.2 million, a decline from $47 million in Q2 2021, it anticipates fiscal year revenue between $245-255 million. The company is targeting $50 million in cost savings for 2022, with plans for $200 million cumulative savings by 2023. A workforce reduction of about 250 positions is part of restructuring efforts aimed at profitability.

Sema4 (Nasdaq: SMFR) will release its second quarter 2022 financial results on August 15, 2022, after market close. A conference call with CEO Katherine Stueland and Interim CFO Richard Miao is scheduled for the same day at 4:30 p.m. ET to discuss the results. Sema4 focuses on AI-driven genomic data and health intelligence, aiming to enhance healthcare through personalized insights. Investors can access a live and archived webcast of the call on the Sema4 investor relations website.

Sema4 (NASDAQ: SMFR) announced the appointment of Richard Miao as interim CFO after Isaac Ro's departure on August 9, 2022. Miao, previously Deputy CFO, has over 18 years of corporate finance experience and will report to CEO Katherine Stueland during the search for Ro's permanent replacement. Ro’s exit is amicable, with no disagreements over financial practices. The company reaffirms its financial guidance from May 2022 and expresses confidence in growth opportunities and profitability following the GeneDx acquisition.

Avera Health and Sema4 have launched the Avera/Sema4 Oncology and Analytics Protocol (ASAP) study, a five-year initiative aimed at enhancing precision oncology care. The study plans to enroll up to 3,000 patients annually, focusing on those diagnosed with cancer or at risk. Utilizing genomic sequencing and pharmacogenomics testing, the initiative seeks to provide personalized treatment options and improve healthcare access in underserved communities. The study leverages Sema4's AI-driven health intelligence platform, Centrellis®, to analyze clinical data and advance cancer research.

Sema4 (Nasdaq: SMFR) announced participation in two upcoming investor conferences. The Jefferies Healthcare Conference will feature a fireside chat on June 9, 2022, at 8:30 a.m. ET. Following this, they will attend the Goldman Sachs 43rd Annual Global Healthcare Conference on June 16, 2022, at 12:20 p.m. ET. Live and archived webcasts will be accessible on their investor relations website. Sema4, a health intelligence company, utilizes AI for genomic and clinical data insights, aiming to enhance patient care through individualized health solutions.

Sema4 reported first-quarter 2022 total revenue of $53.9 million, a decline from $64.2 million year-over-year. Excluding COVID-19 testing, revenue increased by 4% year-over-year. Testing volumes rose 27% compared to the prior year. The company aims for a full-year pro forma revenue target of $350 million, supported by the recent acquisition of GeneDx. Operating expenses surged to $94.9 million, leading to a net loss of ($76.9 million). Sema4 expects to enhance cash runway into 2024 by reducing cash burn by $50 million.

Sema4 (Nasdaq: SMFR) has announced the granting of stock options and restricted stock units (RSUs) to newly-hired employees as of May 2, 2022. A total of 4,932,132 shares of Class A common stock and 4,285,208 RSUs have been issued, including 3,551,136 stock options and 2,045,454 RSUs granted to newly appointed CEO Katherine Stueland. The exercise price for the stock options is set at $2.20 per share, and vesting will occur over several years, contingent on continued employment. This initiative is in compliance with Nasdaq regulations.

Sema4 has completed the acquisition of GeneDx, a leader in genomic testing for rare disorders, from OPKO Health for $150 million in cash and 80 million shares, totaling approximately $322 million. The deal positions Sema4 among the largest genomic testing providers in the U.S., enhancing patient care and therapeutic development. Katherine Stueland joins as CEO, bringing over 25 years of healthcare experience. Sema4 also secured $200 million in private placement financing, including participation from Pfizer, to support expansion and operational efficiency.