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SOPHiA GENETICS SA (Nasdaq: SOPH) is a leader in the field of data-driven medicine, leveraging cutting-edge technology to advance healthcare. Based in Switzerland, the company is renowned for its high medical standards and precision. SOPHiA GENETICS has built the SOPHiA DDM™ Platform, a cloud-based SaaS platform designed to analyze complex genomic and multimodal data, delivering valuable insights for clinical and life sciences research.
Through its innovative platform, SOPHiA GENETICS supports healthcare professionals in over 100 hospitals globally, enabling them to perform faster and more accurate diagnoses using next-generation sequencing (NGS) analytics. The platform also facilitates knowledge sharing within the largest clinical genomics community.
Recently, SOPHiA GENETICS has made significant strides with several notable partnerships:
- Unilabs, a prominent European diagnostic provider, adopted the SOPHiA DDM™ Platform to enhance their HRD-status testing capabilities in solid tumors.
- Syndicate Bio in Nigeria integrated MSK-ACCESS® powered by SOPHiA DDM™, marking the first comprehensive genomic profiling and liquid biopsy availability across Africa.
- Klinikum Klagenfurt in Austria and Instituto Mário Penna in Brazil have also implemented the platform to advance their cancer diagnostics and treatment planning, particularly in blood-related cancers and disorders.
Financially, SOPHiA GENETICS is recognized for its robust operational execution and business momentum, continually reaffirming its guidance. The company is actively collaborating with tech giants like Microsoft and NVIDIA to develop a streamlined whole genome sequencing (WGS) analytical solution, promising rapid and precise insights aiding clinical decision-making.
SOPHiA GENETICS also launched SOPHiA UNITY, a global consortium to accelerate cancer research by harnessing diverse, high-quality data from leading institutions worldwide. The platform’s advanced AI-based technology and proprietary algorithms will support decision-making and expedite oncology research.
For more information, visit SOPHiAGENETICS.com or connect on LinkedIn, X, Facebook, and Instagram.
SOPHiA GENETICS (Nasdaq: SOPH) has announced the launch of SOPHiA UNITY, a global consortium aimed at accelerating cancer research, drug development, and data-driven patient care. This initiative will unite leading healthcare institutions to harness large-scale, diverse data from multiple modalities, such as imaging, genomics, pathology, and clinical notes. The consortium will utilize the SOPHiA CarePath™ module on the SOPHiA DDM™ Platform to aggregate and analyze complex real-world data, offering valuable insights to members. Memorial Sloan Kettering Cancer Center is the first institution to join SOPHiA UNITY, with more members to be announced soon.
SOPHiA GENETICS (Nasdaq: SOPH) announced a collaboration with Microsoft and NVIDIA to launch a whole genome sequencing (WGS) analytical solution by end of 2024. The new WGS application aims to deliver fully analyzed genome insights within the same day, enhancing research, drug discovery, and clinical care. Leveraging Microsoft Azure and NVIDIA Parabricks, the solution will provide scalable and rapid genomic analysis, aiding researchers and clinicians in making data-driven decisions. The SOPHiA DDM™ platform integrates genomic data with other diagnostic modalities, aiming to support treatment planning and drug development efforts, particularly for cancer and rare genetic disorders.
SOPHiA GENETICS (Nasdaq: SOPH) announced that Instituto Mário Penna is now utilizing its SOPHiA DDM™ Platform. This Brazilian oncology center, located in Belo Horizonte, will use the platform to enhance its research and testing for blood cancers. The SOPHiA DDM™ Platform employs next-generation sequencing (NGS) to accurately target key variants from various sample types, aiding in timely and precise detection.
The Instituto Mário Penna, a major oncology service provider in Brazil, offers comprehensive cancer care including in-patient, out-patient, chemotherapy, radiation treatments, clinical laboratory analysis, and surgery. The integration of SOPHiA DDM™ aims to improve on-site diagnostic capabilities and support data-driven treatment decisions.
Blood cancers are the fifth most common type of cancer globally, and the institute's adoption of this AI-based technology reflects a commitment to advancing healthcare in Brazil.
SOPHiA GENETICS (Nasdaq: SOPH) has announced that the Klinikum Klagenfurt am Wörthersee, Austria's third-largest hospital, has implemented the SOPHiA DDM™ Platform. This technology aims to enhance the hospital's next-generation sequencing (NGS) testing and analytical capabilities for both solid tumors and blood cancers. It will assist in providing fast and accurate genomic analysis, aiding data-driven treatment decisions. The hospital's Institute for Laboratory Diagnostics and Microbiology (ILM) serves over half a million patients annually. The platform is expected to streamline data processing, offering reliable insights while conserving resources. This collaboration is set to improve precision medicine and molecular diagnostics at one of Austria's largest laboratories.
SOPHiA GENETICS, a cloud-native software company, reported Q1 2024 results with a 13% revenue growth to $15.8 million. Gross margins were 65.9% reported and 70.5% adjusted. Operating loss improved by 3% reported and 13% adjusted year-over-year. The company reaffirmed guidance: revenue growth of 25-30%, adjusted gross margin of 72.5-72.7%, and adjusted operating loss of $45-50 million. SOPHiA GENETICS signed debt financing for up to $50 million with Perceptive Advisors to accelerate growth. The company aims to onboard new customers and expand its Liquid Biopsy offering, MSK-ACCESS® powered with SOPHiA DDM™.
SOPHiA GENETICS, a cloud-native software company in data-driven medicine, will present at the 2024 RBC Capital Markets Global Healthcare Conference. Chief Financial Officer and Chief Operating Officer, Ross Muken, will speak on May 14, 2024, in New York City.
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