Personalis, Inc. (PSNL) Bundle
A Brief History of Personalis, Inc. (PSNL)
Establishment and Founding
Personalis, Inc. was founded in 2011 by John West and his team, focusing on genomic sequencing and analysis. The company was established to provide precision medicine solutions, particularly in oncology.
Initial Funding and Growth
In 2012, Personalis secured $5 million in Series A funding from investors such as Jeffrey H. Miller and Steve Kleskun. This initial capital enabled the company to further develop its proprietary genomic sequencing platform.
Product Launch and Developments
By 2014, Personalis launched its flagship product, Personalis Precision Medicine Platform, which integrated whole genome sequencing with advanced bioinformatics. The platform aimed to enhance cancer treatment by identifying actionable genetic mutations.
Partnerships
In 2016, Personalis established a significant partnership with Genentech, a member of the Roche Group, to collaborate on cancer genomics research. This partnership focused on utilizing Personalis' capabilities in analyzing large genomic datasets.
IPO and Financial Performance
Personalis, Inc. went public on September 17, 2020, through an initial public offering (IPO) priced at $17 per share. The IPO raised approximately $125 million.
| Year | Event | Amount Raised ($ Million) |
|---|---|---|
| 2012 | Series A Funding | 5 |
| 2020 | IPO | 125 |
Financial Performance Post-IPO
As of the end of Q3 2023, Personalis reported a revenue of $34.5 million for the third quarter. The revenue demonstrated an increase of approximately 20% year-over-year compared to Q3 2022.
Research and Development Investments
For the fiscal year 2022, Personalis allocated about $27 million towards research and development expenses, aiming to enhance its genomic solutions and expand clinical applications.
Market Position and Competitors
- Illumina, Inc.
- Guardant Health, Inc.
- Foundation Medicine, Inc.
Recent Performance and Outlook
In the first half of 2023, Personalis reported a total revenue of approximately $61 million, showing consistent growth in its precision medicine offerings. The company's future prospects appear optimistic, with increasing demand for genomic analytics in clinical settings.
A Who Owns Personalis, Inc. (PSNL)
Major Shareholders
The ownership structure of Personalis, Inc. can be primarily categorized into institutional investors, retail investors, and insiders. As of the latest data, the breakdown of major institutional shareholders is as follows:
| Institution | Shares Owned | Percentage of Total Shares | Type of Shareholder |
|---|---|---|---|
| Vanguard Group, Inc. | 2,187,100 | 10.5% | Institutional |
| BlackRock, Inc. | 1,900,000 | 9.2% | Institutional |
| State Street Corporation | 1,200,000 | 5.8% | Institutional |
| Geode Capital Management, LLC | 1,100,000 | 5.3% | Institutional |
| Tudor Investment Corp | 800,000 | 3.8% | Institutional |
Insider Ownership
Insider ownership is also significant in Personalis, Inc. The following are notable insiders with substantial stakes:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| John L. West | CEO | 500,000 | 2.4% |
| Angela H. Lee | CFO | 300,000 | 1.4% |
| Mark J. Hargreaves | Board Member | 250,000 | 1.2% |
Retail Investors
Retail investors generally make up a smaller portion of ownership compared to institutional investors. It is estimated that retail holdings account for around 25% of the total shares outstanding.
Recent Performance and Market Capitalization
As of October 2023, the market capitalization of Personalis, Inc. was approximately $350 million. The stock price over the past year has demonstrated fluctuations with a high of $10.50 and a low of $3.00.
Float and Total Shares Outstanding
The total number of shares outstanding for Personalis, Inc. is approximately 20 million, with a float of around 15 million shares available for trading.
Conclusion on Ownership Structure
The ownership structure of Personalis, Inc. reflects a balance between institutional investment, insider stakes, and retail ownership, contributing to the overall governance and strategic direction of the company.
Personalis, Inc. (PSNL) Mission Statement
Corporate Vision
Personalis, Inc. aims to advance the field of genomics and personalized medicine by harnessing the power of data to provide individualized insights that lead to better patient outcomes. The company focuses on utilizing advanced technologies to develop and deliver highly accurate genomic data and analytics services.
Key Objectives
- To enhance the treatment of cancer through tailored therapies informed by patient-specific genetic data.
- To optimize the development and commercialization of precision oncology diagnostics.
- To build strategic partnerships with pharmaceutical companies and research institutions that align with their mission of personalized medicine.
Core Values
- Innovation: Commitment to technological advancements in genomics.
- Integrity: Ensuring accuracy and reliability in all services and products.
- Collaboration: Working alongside healthcare providers and researchers to foster a collaborative environment.
Recent Financial Overview
As of the second quarter of 2023, Personalis reported total revenue of $11.2 million, a growth of 22% compared to the previous year. The company’s gross profit for the same period was $5.4 million.
Operating expenses were reported at $14.6 million, resulting in a net loss of $9.2 million.
| Financial Metric | Q2 2023 | Q2 2022 |
|---|---|---|
| Total Revenue | $11.2 million | $9.2 million |
| Gross Profit | $5.4 million | $4.3 million |
| Operating Expenses | $14.6 million | $12.0 million |
| Net Loss | $9.2 million | $8.0 million |
Market Position
Personalis operates within the precision medicine market, which is projected to grow from $60.0 billion in 2022 to $144.3 billion by 2030, at a CAGR of 10.9%. The company holds a unique position with its proprietary technology for genomic sequencing and analysis.
Strategic Partnerships
In 2023, Personalis entered into a collaboration with the National Cancer Institute (NCI) to leverage their unique genomic analytics capabilities in clinical trials. Additionally, partnerships with major pharmaceutical firms aim to enhance drug development timelines and improve therapeutic efficacy.
Future Goals
- To expand their genomic sequencing capabilities to support a broader range of cancers.
- To enhance their data analytics platform for improved patient management systems.
- To increase collaboration with healthcare organizations to drive the adoption of personalized medicine.
How Personalis, Inc. (PSNL) Works
Business Model
Personalis, Inc. operates primarily in the field of genomics and precision medicine, focusing on providing advanced genomic sequencing services for oncology. The company utilizes proprietary technology to offer comprehensive genetic profiling of tumors and assists in clinical decision-making for cancer treatment.
Key Products and Services
- Personal Genome Profiling: Offers detailed tumor and normal tissue sequencing.
- Oncological Services: Provides insights for targeted therapies based on genomic data.
- Clinical Trials Support: Collaborates with pharmaceutical companies to optimize therapies through genomic analysis.
Financial Performance
As of the latest financial reports from Q2 2023, Personalis, Inc. reported the following financial metrics:
| Metric | Amount (Q2 2023) |
|---|---|
| Total Revenue | $15.2 million |
| Net Loss | ($8.0 million) |
| Cash and Cash Equivalents | $50.1 million |
| Research and Development Expenses | $6.5 million |
| General and Administrative Expenses | $5.2 million |
Market Position
Personalis holds a unique position in the genomics market, facing competition from several key companies:
| Competitor | Market Cap (as of October 2023) | Focus Area |
|---|---|---|
| Illumina, Inc. | $45.0 billion | Sequencing technology and services |
| Guardant Health | $4.1 billion | Liquid biopsy and precision oncology |
| Foundation Medicine | $2.1 billion | Comprehensive genomic profiling |
Recent Developments
In 2023, Personalis entered into significant partnerships for the development of precision oncology solutions:
- Collaboration with major pharmaceutical companies to enhance biomarker discovery.
- Expansion of clinical trial services to include new therapeutic areas.
Future Outlook
Analysts predict growth in the precision medicine market, potentially impacting Personalis positively:
| Year | Market Size (Estimated) | Growth Rate (%) |
|---|---|---|
| 2023 | $90 billion | 10.3% |
| 2024 | $100 billion | 11.1% |
| 2025 | $110 billion | 10.0% |
How Personalis, Inc. (PSNL) Makes Money
Revenue Streams
Personalis, Inc. generates revenue through several key avenues:
- Diagnostic Services
- Pharmaceutical Services
- Research Collaborations
Diagnostic Services
The primary source of revenue for Personalis is its diagnostic services. These services are focused on advanced genomic testing.
| Year | Revenue from Diagnostic Services (in $ millions) |
|---|---|
| 2020 | $17.5 |
| 2021 | $26.6 |
| 2022 | $35.4 |
As of 2022, the growth rate in revenue from diagnostic services was approximately 33% year-over-year.
Pharmaceutical Services
Personalis partners with pharmaceutical companies to provide genomic insights that assist in drug development.
| Year | Revenue from Pharmaceutical Services (in $ millions) |
|---|---|
| 2020 | $5.0 |
| 2021 | $10.1 |
| 2022 | $12.3 |
In 2022, the revenue from pharmaceutical services demonstrated a 21% increase compared to 2021.
Research Collaborations
In addition to diagnostic and pharmaceutical services, Personalis engages in research collaborations with academic institutions and other organizations.
| Year | Revenue from Research Collaborations (in $ millions) |
|---|---|
| 2020 | $2.5 |
| 2021 | $3.0 |
| 2022 | $4.1 |
Revenue from research collaborations in 2022 increased by 37% from the previous year.
Cost Structure
The operating costs for Personalis include:
- Cost of Revenues
- Research and Development Expenses
- General and Administrative Expenses
Cost of Revenues
The cost of revenues directly associated with providing testing services and products:
| Year | Cost of Revenues (in $ millions) |
|---|---|
| 2020 | $10.0 |
| 2021 | $15.5 |
| 2022 | $20.1 |
The cost of revenues increased by 29% in 2022 from 2021.
Research and Development Expenses
R&D expenses are critical for maintaining competitive advantage and innovation:
| Year | R&D Expenses (in $ millions) |
|---|---|
| 2020 | $14.0 |
| 2021 | $18.0 |
| 2022 | $26.0 |
R&D expenses surged by 44% from 2021 to 2022, reflecting increased investment in innovation.
General and Administrative Expenses
General and administrative expenses also contribute to the overall cost structure:
| Year | General and Administrative Expenses (in $ millions) |
|---|---|
| 2020 | $8.0 |
| 2021 | $10.5 |
| 2022 | $13.5 |
In 2022, general and administrative expenses increased by 29% over 2021.
Financial Overview
Here is a summary table of Personalis's financials over the past three years:
| Year | Total Revenue (in $ millions) | Total Expenses (in $ millions) | Net Income (in $ millions) |
|---|---|---|---|
| 2020 | $25.0 | $32.0 | -$7.0 |
| 2021 | $39.7 | $44.0 | -$4.3 |
| 2022 | $51.8 | $59.6 | -$7.8 |
Personalis has shown a steady increase in total revenue, although it faced net losses throughout the years.
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