SOPHiA GENETICS SA Ordinary Shares - SOPH STOCK NEWS

SOPHiA GENETICS (Nasdaq: SOPH) has announced key leadership changes effective November 5, 2024. Ross Muken, previously CFO and COO, has been promoted to company President, where he will oversee global business operations and strategic planning alongside CEO Jurgi Camblong. George Cardoza joins as the new CFO, bringing over 30 years of experience in precision medicine and clinical diagnostics. Cardoza, who previously served as CFO at Biocartis and held executive roles at NeoGenomics Laboratories and Quest Diagnostics, will oversee all corporate finance functions including accounting, FP&A, investor relations, internal audit, tax, and treasury.

SOPHiA GENETICS (SOPH) reported Q3 2024 financial results with revenue of $15.9 million, down 2.8% year-over-year. The company achieved gross margins of 67.2% (reported) and 73.1% (adjusted). Operating loss improved to $15.4 million (reported) and $10.6 million (adjusted), showing improvements of 7.1% and 10.4% respectively. Cash burn decreased significantly by 39.1% to $9.6 million. Clinical analysis volume grew 16% year-over-year, despite BioPharma softness. The company maintains its full-year guidance of $65-67 million in revenue, 72.0-72.5% adjusted gross margin, and adjusted operating loss between $45-50 million.

SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company specializing in data-driven medicine, has announced the release date for its third quarter 2024 financial results. The company will disclose its financial performance before U.S. markets open on Tuesday, November 5, 2024. Following the release, SOPHiA GENETICS will host a conference call at 8:00 a.m. EDT / 2:00 p.m. CET to discuss the financial results and provide a business outlook. Investors and interested parties can access the webcast live on the SOPHiA GENETICS Investor Relations Website. For those unable to attend the live call, a replay will be made available on the company's website after the event's conclusion.

SOPHiA GENETICS (Nasdaq: SOPH) will present groundbreaking research at ESMO 2024, showcasing AI-driven patient stratification for non-small cell lung cancer (NSCLC) treatment. The study, conducted with AstraZeneca, analyzed the POSEIDON Phase 3 clinical trial using multimodal machine learning to identify NSCLC patient subgroups most likely to benefit from combination immunotherapy.

The research revealed signatures associated with higher overall survival benefit from adding tremelimumab to durvalumab and chemotherapy in first-line treatment of metastatic NSCLC. Key genetic factors included EGFR wild-type, FGFR3 wild-type, CDKN2A wild-type, KRAS mutation, and STK11 mutation. This approach could significantly impact NSCLC treatment by enabling more personalized care strategies.

SOPHiA GENETICS (Nasdaq: SOPH) will present two posters at the ESMO Congress 2024 in Barcelona. The first poster focuses on the analytical validation of an NGS panel-based ecDNA detection device for Boundless Bio's POTENTIATE clinical study. This innovative tool aims to detect extrachromosomal DNA in cancer patients, potentially improving patient selection for clinical trials.

The second poster presents the TRIDENT study, which uses machine learning to develop multimodal signatures for identifying patients who would benefit most from adding tremelimumab to durvalumab and chemotherapy in first-line treatment of stage IV non-small cell lung cancer. This study is based on a retrospective analysis of the POSEIDON Phase 3 trial.

SOPHiA GENETICS (Nasdaq: SOPH) announced updates on SOPHiA UNITY, its global consortium for precision oncology research, at ESMO 2024. Several world-renowned healthcare organizations have joined the initiative, including Exactis Innovation in Canada, Institut Paoli-Calmettes in France, and potentially Gemelli Hospital in Italy. These institutions join inaugural member Memorial Sloan Kettering Cancer Center, expanding the network to three countries and over 100,000 committed patient profiles with multimodal data.

SOPHiA UNITY aims to accelerate oncology innovation by harmonizing high-quality, diverse data at scale. Members benefit from participating in industry-funded global projects and access to SOPHiA GENETICS' AI-driven technology for efficient data curation and harmonization. The initiative leverages SOPHiA CarePath™, which provides insights from various data modalities including imaging, genomics, pathology, and clinical notes.

SOPHiA GENETICS (Nasdaq: SOPH) and AstraZeneca have announced a partnership to expand global access to liquid biopsy testing. They aim to deploy MSK-ACCESS® powered with SOPHiA DDM™ to 20 locations worldwide over the next 12 months. This liquid biopsy test, developed by Memorial Sloan Kettering Cancer Center, offers a less invasive alternative to solid tumor testing.

The collaboration seeks to understand how liquid biopsy testing can complement or surpass solid tissue testing. A real-world evidence study will evaluate operational benefits, including result speed and data quality. Since April 2024, 14 leading healthcare institutions have adopted the application. The partnership is expected to generate valuable real-world data for advancing cancer research and drug development.

SOPHiA GENETICS (Nasdaq: SOPH) announced an update on its collaboration with Boundless Bio and Precision for Medicine to develop and deploy an extrachromosomal DNA (ecDNA) detection algorithm for clinical trials. The ecDNA Solution (ECS) algorithm, designed as an Investigational Use Only Clinical Trial Assay, identifies patients with ecDNA amplified tumors using routine clinical next-generation sequencing data. This technology is being utilized in Boundless Bio's POTENTIATE Phase 1/2 study of BBI-355, an ecDNA-directed therapy.

The collaboration leverages SOPHiA GENETICS' SOPHiA DDM™ Platform for data analysis and Precision for Medicine's laboratory services. This innovative approach aims to expedite clinical diagnostics and streamline market entry for pharmaceutical companies targeting oncogene amplified cancers, which affect over 14% of cancer patients.

SOPHiA GENETICS (Nasdaq: SOPH) has unveiled the new generation of its SOPHiA DDM™ Platform at the Morgan Stanley Healthcare Conference 2024. This cloud-native platform offers a new web-based architecture designed to compute large amounts of data more efficiently at-scale, while enhancing customer experience with integrated access to multimodal analytics modules.

The platform now processes nearly 30,000 analyses per month, with over 1.8 million genomic profiles analyzed to date. The new generation introduces faster data processing, enabling quicker turnaround times and new capabilities such as whole genome sequencing. It integrates genomic, radiomic, and multimodal analytics in a single workspace, allowing customers to select applications that best suit their needs.