Somalogic Inc (SLGC) 2021 Q3 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to SomaLogic Third Quarter 2021 Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Marissa Bych, Investor Relations. Please go ahead.

女士們先生們，感謝大家的支持，歡迎參加 SomaLogic 2021 年第三季財報電話會議。 （操作員指示）請注意，今天的會議正在錄製中。現在我想將會議交給今天的第一位發言人，投資者關係部門的瑪麗莎·比奇 (Marissa Bych)。請繼續。

Thank you, and thank you all for joining us. This morning, SomaLogic released financial results for the 3 months ended September 30, 2021. A copy of the press release is available on the company's website.

謝謝你們，也謝謝大家加入我們。今天上午，SomaLogic 發布了截至 2021 年 9 月 30 日的 3 個月的財務業績。

Before we begin, I'd like to remind you that management will make forward-looking statements during this call within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events, results or performance are forward-looking statements.

在我們開始之前，我想提醒您，管理層將在本次電話會議期間做出聯邦證券法含義內的前瞻性陳述，這些法律是根據1995 年《私人證券訴訟改革法案》的安全港條款制定的。

All forward-looking statements, including, without limitation, those relating to our market opportunity, gross margin, future financial performance, protein content and database growth, customer base, diagnostic pipeline, expectations for hiring and growth in our organization are based upon our current estimates and various assumptions.

所有前瞻性陳述，包括但不限於與我們的市場機會、毛利率、未來財務表現、蛋白質含量和資料庫成長、客戶群、診斷管道、我們組織的招聘和成長預期相關的陳述，均基於我們當前的情況估計和各種假設。

These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the Risk Factors section of our Form 10-Q filed with the Securities and Exchange Commission today.

這些陳述涉及重大風險和不確定性，可能導致實際結果或事件與這些前瞻性陳述預期或暗示的結果或事件有重大差異。因此，您不應過度依賴這些陳述。有關與我們業務相關的風險和不確定性的清單和描述，請參閱今天向美國證券交易委員會提交的 10-Q 表格中的風險因素部分。

This conference call contains time-sensitive information and is accurate only as of the live broadcast today, November 15, 2021. SomaLogic disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events or otherwise.

本次電話會議包含時間敏感信息，僅截至今天（2021 年 11 月 15 日）直播時準確。因為新資訊、未來事件還是其他原因。

I will now turn the call over to Roy Smythe, Chief Executive Officer.

我現在會把電話轉給執行長羅伊史密斯 (Roy Smythe)。

Good morning. Welcome to SomaLogic's first quarterly update as a public company to review our results for the third quarter of 2021. After more than 2 decades of hard work, we are indeed excited to now be public and have this opportunity to speak with you today with our rapidly growing uniquely positioned proteomics business.

早安.歡迎閱讀 SomaLogic 作為上市公司的第一個季度更新，回顧我們 2021 年第三季度的業績。獨特的蛋白質體學業務。

We are the first proteomics company at the nexus of capabilities needed to realize the field's long anticipated potential, -- both the ability to measure a sufficient amount of the proteomics at scale and then to simultaneously interpret and use that data to deliver impactful research in clinical applications. This has provided us with a substantial first-mover advantage and now positions us to capture a disproportionate share of the fast-growing proteomics market.

我們是第一家具備實現該領域長期預期潛力所需能力的蛋白質組學公司，既能夠大規模測量足夠數量的蛋白質組學，又能同時解釋和使用這些數據，以在臨床中提供有影響力的研究。這為我們提供了巨大的先發優勢，使我們能夠在快速成長的蛋白質體學市場中佔據不成比例的份額。

The use of this first mover advantage to develop the broadest and this flexible technology, the largest clinical proteomics database and the deepest diagnostic pipeline. And with our completed strategic merger with CM Life Sciences II, we now have more than $650 million on our balance sheet.

利用這一先發優勢來開發最廣泛、最靈活的技術、最大的臨床蛋白質體學資料庫和最深入的診斷管道。隨著我們與 CM Life Sciences II 完成策略合併，我們的資產負債表上現在有超過 6.5 億美元。

We've already leveraged these added resources to attract the talent and transform our Board of Directors, with world-class industry veterans and we'll continue to leverage our balance sheet to invest in both organic and inorganic growth opportunities moving forward.

我們已經利用這些新增資源來吸引人才並改造我們的董事會，聘請世界一流的行業資深人士，我們將繼續利用我們的資產負債表來投資於未來的有機和無機成長機會。

As you might expect, many have facilitated our recent success and have helped make our public transition possible. We sincerely thank the investors that have supported us over the last few years. as well as our partners, collaborators, advisers and notably, of course, our customers. I also thank our leadership team and our employees for their patience, confidence, hard work and mission orientation that they bring to their work each and every day.

正如您所料，許多人促進了我們最近的成功，並幫助我們實現了公共過渡。我們衷心感謝過去幾年來支持我們的投資者。以及我們的合作夥伴、合作者、顧問，當然還有我們的客戶。我還要感謝我們的領導團隊和員工每天在工作中表現出的耐心、信心、辛勤工作和使命導向。

Companies are nothing other than the people that constitute them and the things they agree to do together. And through the efforts of our people, SomaLogic has an objectively incredible opportunity to create both financial and, more importantly, human value as we move ahead. For those newer to our story, I'd like to provide you a brief overview of SomaLogic.

公司只不過是組成公司的人和他們同意一起做的事情。透過我們員工的努力，SomaLogic 在不斷前進的過程中擁有客觀上令人難以置信的機會來創造財務價值，更重要的是創造人類價值。對於那些剛接觸我們故事的人，我想向您提供 SomaLogic 的簡要概述。

Founded in 2000, SomaLogic is a commercial-stage proteomics company with a pioneering technology that provides more coverage of the proteom than any other commercial enterprise, and I will enumerate several unique first-mover advantages as I go through today due to our tenure. Considering technology, every proteomics company must have one capable of enablement. And in this case, that's the identification and quantification of proteins. However, in addition to this, we also have a clinical proteomics database, and a bioinformatics tech, and these 3 things comprise our integrated platform, which is creating a virtuous cycle of value creation.

SomaLogic 成立於2000 年，是一家商業階段的蛋白質組學公司，擁有領先的技術，比任何其他商業企業提供更多的蛋白質組覆蓋範圍，由於我們的任期，我​​將在今天列舉幾個獨特的先發優勢。考慮到技術，每家蛋白質體學公司都必須擁有一項能夠實現的技術。在這種情況下，這就是蛋白質的辨識和定量。但除此之外，我們還有臨床蛋白質體學資料庫和生物資訊技術，這三者構成了我們的綜合平台，正在創造價值創造的良性循環。

Our basic enablement technology was discovered by our founder and his colleagues 30 years ago. Over time, we have grown the number of proteins we can identify and measure using proprietary-modified aptamers, oligonucleotide sequence ligands, we synthesize and modify biochemically which bind to specific protein targets. There are multiple benefits and advantages of using synthetic nucleic acid ligands compared to other approaches: breadth, depth, speed and cost, just to name a few. And the trajectory for this technology moving forward in time is significant.

我們的基本支援技術是我們的創辦人和他的同事在 30 年前發現的。隨著時間的推移，我們已經增加了可以使用專有修飾的適體、寡核苷酸序列配體來識別和測量的蛋白質數量，我們合成和修飾了與特定蛋白質標靶結合的生化方法。與其他方法相比，使用合成核酸配體有多種好處和優勢：廣度、深度、速度和成本，僅舉幾例。這項技術的發展軌跡隨著時間的推移而具有重要意義。

With this technology as the backbone, we have created SomaScan, an assay that uses our proprietary aptamer library to identify a present approximately 7,000 human proteins with high specificity, high sensitivity and industry-leading reproducibility in a single sample. Notably, this is more than 4,000 proteins than any other commercial enterprise is capable of at this time.

以這項技術為支柱，我們創建了SomaScan，這是一種使用我們專有的適體庫來識別單個樣本中目前約7,000 種人類蛋白質的檢測方法，具有高特異性、高靈敏度和行業領先的重現性。值得注意的是，這比目前任何其他商業企業能夠提供的 4,000 多種蛋白質還要多。

Importantly, we are working to commercialize measurement of approximately 10,000 proteins over the next 12 to 18 months using this technique, putting more distance between ourselves and others, and there's no theoretical limit to the number of proteins we can measure on this platform over time. As the vast majority of Life Sciences use cases for proteomics are to better understand human biology to find new targets for medicines and vaccines, more data simply means more insights and content really matters.

重要的是，我們正在努力在未來12 到18 個月內利用這種技術將大約10,000 種蛋白質的測量商業化，拉近我們與他人之間的距離，而且隨著時間的推移，我們可以在這個平台上測量的蛋白質數量沒有理論上的限制。由於蛋白質體學的絕大多數生命科學用例是為了更好地了解人類生物學，以尋找藥物和疫苗的新靶點，因此更多的數據意味著更多的見解和內容確實很重要。

The SomaScan assay is currently provided primarily as a service product, but we have proven not only in the past to deliver SomaScan kits to site of service, and these will be increasingly deployed over the next few years in a variety of formats, likely including arrays in NGS and possibly under approach -- other approaches currently in development.

SomaScan 檢測目前主要作為服務產品提供，但我們過去已證明不僅可以將SomaScan 試劑盒交付到服務現場，而且在未來幾年中，這些試劑盒將以各種形式（可能包括陣列​​）越來越多地部署NGS 和可能正在採用的方法——目前正在開發的其​​他方法。

The ability to accurately provide this amount of protein data to our biopharm and basic research customers means we are facilitating their work in ways previously unavailable and as no other can currently do to better understand biology. Our contribution is facilitating the development of new medicines and vaccines and our shared efforts with our customers and collaborators to relieve human suffering and to extend meaningful life.

能夠向我們的生物製藥和基礎研究客戶準確提供如此大量的蛋白質數據，意味著我們正在以以前無法實現的方式促進他們的工作，而目前其他任何人都無法做到這一點，以更好地了解生物學。我們的貢獻是促進新藥物和疫苗的開發，並與客戶和合作者共同努力減輕人類痛苦並延長有意義的生命。

We have built this integrated proteomics platform to be capable of robust high-throughput proteomics analysis with broad proteome coverage, low limits of detection, a short turnaround time and at low cost. Furthermore, we've designed it with the goal of being a universal proteomics platform, that cannot only be used across the life sciences industry, but also with the robustness and reproducibility required for clinical applications.

我們建立了這個整合的蛋白質體學平台，能夠進行強大的高通量蛋白質體學分析，具有廣泛的蛋白質體覆蓋範圍、低檢測限、短週轉時間和低成本。此外，我們設計它的目標是成為一個通用的蛋白質體學平台，不僅可以在整個生命科學產業使用，而且還具有臨床應用所需的穩健性和可重複性。

Our growing clinical proteomics database currently contains approximately 1.5 billion protein measurements across approximately 450,000 assay runs, with over 675,000 participant years of clinical follow-up. Approximately 80% of the samples in the database have been run on high plex hemologic assays measuring either 5,000 or 7,000 proteins, and about 40% of all the samples offer fully annotated clinical patient data. This unique asset is the largest in the world of its kind and one that will grow over time as we add prospective clinical data with partners, and fully accessed biobank opportunities.

我們不斷成長的臨床蛋白質體學資料庫目前包含約 15 億個蛋白質測量結果，涵蓋約 450,000 次測定運行，以及超過 675,000 名參與者的臨床追蹤。資料庫中約 80% 的樣本已進行高複數血液學檢測，測量 5,000 或 7,000 種蛋白質，所有樣本中約 40% 提供完整註釋的臨床患者資料。這項獨特的資產是世界上同類資產中最大的，隨著我們與合作夥伴一起添加前瞻性臨床數據以及充分利用生物樣本庫的機會，這一資產將隨著時間的推移而不斷增長。

We've used this database in our proteomics bioinformatics capabilities to create a new class of diagnostic tools called SomaSignal tests, leveraging artificial intelligence, machine learning and high plex proteomics. SomaSignal tests are protein expression pattern algorithm models that can contribute to diagnosing diseases in the present but also real-time body morphology as well, something genetic tests are incapable of. As a former clinician, I personally believe the most exciting thing about these tests is that they also have the unique ability to predict future biologic and medical risk and to see these risks when traditional diagnostics may not.

我們在蛋白質體學生物資訊學功能中使用該資料庫，利用人工智慧、機器學習和高複雜蛋白質組學，創建了一種名為 SomaSignal 測試的新型診斷工具。 SomaSignal 測試是一種蛋白質表現模式演算法模型，不僅有助於診斷當前的疾病，還有助於即時診斷身體形態，這是基因測試無法做到的。作為一名前臨床醫生，我個人認為這些測試最令人興奮的事情是它們還具有預測未來生物和醫療風險的獨特能力，並能夠在傳統診斷無法看到的情況下看到這些風險。

Some internally validated examples of our tests include the prediction of near-term cardiovascular disease or events, the future development of cancer and complications arising from diabetes, as well as real-time disease detection with less cost and risk, such as the diagnosis of nonalcoholic steatohepatitis or NASH, with a blood test rather than a liver biopsy.

我們的測試的一些內部驗證範例包括預測近期心血管疾病或事件、癌症的未來發展和糖尿病引起的併發症，以及成本和風險較低的即時疾病檢測，例如非酒精性酒精飲料的診斷脂肪性肝炎或NASH，通過血液檢查而不是肝臟活檢。

We have over 100 of these first-in-class hiplex protein powder recognition test in our development pipeline, 20 of which have been validated and a subset of those, which have been used by clinicians in our demonstration market over the past 2 years and are now being evaluated by our health system partners.

我們的開發管道中有 100 多種一流的 hiplex 蛋白粉識別測試，其中 20 種已經過驗證，其中一部分已在過去 2 年中被臨床醫生在我們的示範市場中使用，並且現在正在由我們的衛生系統合作夥伴進行評估。

Our unique market vetted and market-proven platform capabilities position us extremely well to remain the leader and at the forefront of the global commercial proteomics field, as we are working across a broad spectrum of both enablement and applications use cases for research and clinical partners, collaborators and customers.

我們獨特的經過市場審查和市場驗證的平台能力使我們非常有能力保持全球商業蛋白質組學領域的領導者和前沿地位，因為我們正在為研究和臨床合作夥伴提供廣泛的支持和應用用例，合作者和客戶。

The total addressable market for proteomics will approach $100 billion over the next several years. It includes a current $50 billion life sciences tools component represented by biopharma translational academic institutes, and emerging diagnostics opportunity, which over the next few years -- several years should grow to more than $40 billion. This is an opportunity with clear parallels to the early growth years of genomics.

未來幾年，蛋白質體學的潛在市場總額將接近 1,000 億美元。它包括目前以生物製藥轉化學術機構為代表的價值 500 億美元的生命科學工具部分，以及新興的診斷機會，在未來幾年內，該價值將增長到超過 400 億美元。這是一個與基因組學早期發展時期明顯相似的機會。

However, proteomics should impact human life with even greater significance over time. Importantly, we believe there are several meaningful and discrete characteristics, which distinguish SomaLogic from other proteomics enterprises.

然而，隨著時間的推移，蛋白質體學將對人類生活產生更大的影響。重要的是，我們認為有幾個有意義且離散的特徵，使 SomaLogic 與其他蛋白質體學企業區分開來。

Number one, we have a core proprietary technology on track to identify and measure 10,000 total proteins on a near-term horizon. Our core technology utilizes synthetic nucleic acid ligands with significant development potential, including a number of next-generation proteomics product development opportunities using chip-based and other approaches. This technology is married with our clinical proteomics database and bioinformatics tech that allows us to translate protein data to create our high-value clinical applications. As I mentioned previously, these 3 components can constitute a platform, not just a protein identification and measurement technology.

第一，我們擁有一項核心專有技術，可在短期內識別和測量 10,000 種總蛋白質。我們的核心技術利用具有巨大發展潛力的合成核酸配體，包括使用基於晶片和其他方法的許多下一代蛋白質組產品開發機會。該技術與我們的臨床蛋白質組學資料庫和生物資訊學技術相結合，使我們能夠翻譯蛋白質數據以創建高價值的臨床應用。正如我之前提到的，這三個組件可以構成一個平台，而不僅僅是一個蛋白質識別和測量技術。

Number two, we are heavily market validated, with real customers and real revenue, both of which are growing substantially in real time. We've actually had more than 300 customers and collaborators on our platform over the past 2 decades. And at present, these include leading biopharma organizations such as Novartis, Amgen, GlaxoSmith Kline, and Novo Nordisk is in a growing list of basic research investigators around the world.

第二，我們經過嚴格的市場驗證，擁有真實的客戶和真實的收入，兩者都在即時大幅成長。實際上，過去 20 年來，我們的平台上已經擁有 300 多名客戶和合作者。目前，這些機構包括諾華 (Novartis)、安進 (Amgen)、葛蘭素史克 (GlaxoSmith Kline) 等領先的生物製藥組織，而諾和諾德 (Novo Nordisk) 的基礎研究人員名單也在不斷增加。

We also have a growing number of contracted partnerships with leading clinical institutions. -- and our proteomics for Precision Medicine Initiative that will accelerate the prospective validation, reimbursement and regulatory clearance for our high-plex protein pattern recognition diagnostic tests.

我們也與領先的臨床機構建立了越來越多的合約合作關係。 ——以及我們的精準醫學蛋白質體學計劃，該計劃將加速我們的高複雜蛋白質模式識別診斷測試的前瞻性驗證、報銷和監管審批。

Number three, we are the knowledge leader for proteomics. We and our collaborators have published approximately 400 publications on our platform, many of them not just references to the use of our technology in the method section, but rather considered recent landmarks in human proteomics.

第三，我們是蛋白質體學知識的領導者。我們和我們的合作者在我們的平台上發表了大約 400 篇出版物，其中許多不僅引用了我們的技術在方法部分的使用，而且還考慮了人類蛋白質體學的最新里程碑。

Number four, our platform is much more than research tool. We have successfully evolved into a full spectrum proteomics enterprise by leveraging our market-leading platform to go beyond enablement and into clinical applications and products. But there's obviously a great deal of value being created by the measurement identification of proteins, the development of downstream diagnostic applications significantly expands our total addressable market potential.

第四，我們的平台不只是研究工具。透過利用我們市場領先的平台，我們已經成功發展成為一家全譜蛋白質組學企業，超越支持並進入臨床應用和產品。但顯然，蛋白質的測量鑑定創造了大量價值，下游診斷應用的發展顯著擴大了我們的總可尋址市場潛力。

Our bioinformatics group has been working with proteomics data for more than a decade, such that they were not just conceptualizing applications, but we are actively putting them into the hands of our customers and collaborators in real time.

我們的生物資訊團隊十多年來一直致力於蛋白質體學數據的研究，因此他們不僅僅是概念化應用程序，而且我們正在積極地將它們實時交到我們的客戶和合作者手中。

Finally, we have the best leaders in the field, including our newly expanded Board and the recent addition of several key executives to our organization. So combined, these objectively differentiated capabilities support our assertion that we are well positioned to take a disproportionate share of the rapidly growing proteomics market.

最後，我們擁有該領域最優秀的領導者，包括新擴大的董事會以及最近為我們的組織增加的幾位關鍵高階主管。綜合起來，這些客觀差異化的能力支持了我們的主張，即我們處於有利地位，可以在快速增長的蛋白質組學市場中佔據不成比例的份額。

Importantly, as we don't have to use a large amount of our resources to make our technology work, or to get initial market traction, we can focus on real-time business opportunities. These include advancing our technology trajectory, expanding the 10,000 proteins measured and beyond and developing and deploying a variety of site service deployed products. We will also be able to continue to invest in our clinical proteomics database. And as a result to develop increasing numbers of clinical applications and, in turn, to pursue commercial partnerships and collaborations for these products.

重要的是，由於我們不必使用大量資源來使我們的技術發揮作用，或獲得最初的市場吸引力，因此我們可以專注於即時商業機會。其中包括推進我們的技術軌跡、擴大測量的 10,000 種蛋白質以及開發和部署各種現場服務部署產品。我們也將能夠繼續投資於我們的臨床蛋白質體學資料庫。因此，開發了越來越多的臨床應用，進而尋求這些產品的商業夥伴關係和合作。

On the life sciences tool side, we can focus on the realization of business partnerships across a variety of applications, such as the deployment of our aptamer reagents into other areas where antibodies are currently used. Therefore, our balance sheet will be leveraged in a number of very visible ways in the near term, including internal development, business partnerships and finally, M&A activity.

在生命科學工具方面，我們可以專注於實現跨各種應用的業務合作夥伴關係，例如將我們的適配體試劑部署到目前使用抗體的其他領域。因此，我們的資產負債表將在短期內以多種非常明顯的方式利用，包括內部發展、業務合作夥伴關係以及最後的併購活動。

So how are we doing in the present? One of my father's favorite quotes and one that I think about a lot as the CEO follows. "The problem with potential is that it's usually just that." My dad was a football and basketball referee when I was growing up and saw a lot of promising high school athletes in those sports, some of whom moved to the next level, but many who did not.

那我們目前做得怎麼樣呢？這是我父親最喜歡的名言之一，也是我作為執行長經常思考的一句話。 “潛力的問題在於它通常就是這樣。”在我成長的過程中，我父親是一名足球和籃球裁判，他在這些運動中看到了很多有前途的高中運動員，其中一些進入了下一個級別，但許多人卻沒有。

So are we living up to our potential or not? I believe a host of recent developments would substantiate we are. Shaun Blakeman, our Chief Financial Officer, will discuss our financial progress in a few moments, but there are a number of notable qualitative milestones that we have achieved over the past few months.

那我們是否發揮了自己的潛能呢？我相信最近的一系列事態發展將證實我們的這一點。我們的財務長 Shaun Blakeman 將稍後討論我們的財務進展，但我們在過去幾個月中實現了許多值得注意的定性里程碑。

In May, we announced our proteomics for precision medicine initiative and definitive partnerships with Emory Healthcare, Intermountain Healthcare, Common Spirit Health and the University of Colorado Health. This initiative for health system partners who are working with our new diagnostic platform will facilitate market uptake and the advancement of our regulatory and payment strategy for clinical products.

五月，我們宣布了精準醫學蛋白質體學計劃，並與 Emory Healthcare、Intermountain Healthcare、Common Spirit Health 和科羅拉多大學健康中心建立了明確的合作夥伴關係。這項針對使用我們新診斷平台的衛生系統合作夥伴的措施將促進市場吸收並推動我們的臨床產品監管和支付策略。

In June, we announced new life sciences tools, disease-specific and custom proteomics panel products as well as new customer collaboration agreements with Novo Nordisk and Ixaca. In July, we announced our relationship and deployment of our SomaScan assay capabilities to Beth Israel Deaconess Medical Center in Boston. In August, we announced a collaboration with Twist Biosciences to prove our database and other proteomics data for new therapeutic antibody targets. And in September, we added UPMC to our proteomics for precision medicine initiatives.

6 月，我們宣布了新的生命科學工具、疾病特異性和客製化蛋白質組學面板產品以及與諾和諾德 (Novo Nordisk) 和 Ixaca 的新客戶合作協議。 7 月，我們宣布與波士頓貝斯以色列女執事醫療中心建立合作關係並部署我們的 SomaScan 檢測能力。 8 月，我們宣布與 Twist Biosciences 合作，以證明我們的資料庫和其他蛋白質體學數據可用於新的治療性抗體標靶。 9 月份，我們將 UPMC 添加到我們的精準醫學計劃蛋白質體學中。

Finally, I started my comments today by suggesting a company's success is a reflection primarily or almost exclusively of its people. I'd like to circle back to the importance of this point by mentioning a number of additions to our management team over the past year. Jason Cleveland is our Chief Technology Officer. Jason has an incredible physics and engineering background, but also success as an entrepreneur. Tracy Hervey is Executive Vice President for our Life Sciences market, who came to us from a very successful career in CRO commercial sales. David McGovern, who's Senior Vice President of Marketing. Dave came to us with a great background in biopharma, most recently at Pfizer.

最後，我今天的評論一開始就建議公司的成功主要或幾乎完全取決於其員工。我想透過提及過去一年中我們管理團隊的一些新增人員來回顧這一點的重要性。傑森·克利夫蘭是我們的首席技術長。傑森擁有令人難以置信的物理和工程背景，同時也是一名成功的企業家。 Tracy Hervey 是我們生命科學市場的執行副總裁，她在 CRO 商業銷售領域有著非常成功的職業生涯。大衛‧麥戈文 (David McGovern)，行銷資深副總裁。 Dave 來到我們這裡時擁有豐富的生物製藥背景，最近在輝瑞 (Pfizer) 工作。

Todd Johnson is Executive Vice President of Business Development and Strategy. Todd has been founder and CEO himself of a number of digital health companies. and has extensive health care market experience. Ruben Gutierrez as General Counsel, Ruben most recently worked at Entera and previously human longevity. Shaun Blakeman, who you'll hear from momentarily, as Chief Financial Officer. Sean comes to us with extensive experience as a public company financial executive at Cantel Medical and Medtronic.

托德·約翰遜 (Todd Johnson) 是業務發展和策略執行副總裁。托德本人是多家數位健康公司的創辦人兼執行長。並擁有豐富的醫療保健市場經驗。 Ruben Gutierrez 擔任總法律顧問，Ruben 最近在 Entera 工作，此前曾在人類長壽公司工作。肖恩布萊克曼 (Shaun Blakeman)，您很快就會聽到他的講話，他擔任財務長。 Sean 在 Cantel Medical 和 Medtronic 擔任上市公司財務主管，擁有豐富的經驗。

And finally, just in this past month, we've added Steve Mermelstein, as our SVP of M&A, a role he previously held an Agilent; and Adam Tash as Chief Business Development and Strategy Officer following a number of important executive leadership roles at Thermo Fisher.

最後，就在上個月，我們任命了 Steve Mermelstein 擔任我們的併購高級副總裁，他之前在安捷倫擔任過該職位； Adam Tash 擔任首席業務開發和策略官，此前在賽默飛世爾擔任過許多重要的行政領導職務。

Before I hand this over to Shaun, I want to mention in addition to these qualitative examples of progress, the objective progress we are making on many fronts that are now translating into quantitative growth, and that we believe will continue to do so moving forward. Since the beginning of this fiscal year, we've grown our sales and marketing group from 14 to 47. Largely due to this investment in our commercial staff, we will have added 61 net new revenue-producing customers year-to-date as compared to this time last year, and 34 of these were added in this last quarter, quarter 3. This represents a total year-over-year increase of new customers of 179% and a third quarter year-over-year increase of 50%.

在我把這個交給肖恩之前，除了這些定性進展的例子之外，我還想提一下我們在許多方面取得的客觀進展，這些進展現在正在轉化為數量增長，並且我們相信未來將繼續這樣做。自本財年年初以來，我們的銷售和行銷團隊已從 14 人增加到 47 人。家是在最後一個季度（即第三季）新增的。

Finally, we greatly exceeded our top line revenue projections. Prior to the completion of our business combination and public transition, we projected $65 million in revenue this year. A few months ago, we gave guidance that we would achieve north of $73 million. And as you will hear from Shaun momentarily, we are again revising our projections support.

最後，我們大大超越了我們的收入預測。在完成業務合併和公開轉型之前，我們預計今年的營收為 6,500 萬美元。幾個月前，我們給的目標是實現 7,300 萬美元以上的目標。正如您稍後會從肖恩那裡聽到的那樣，我們將再次修改我們的預測支援。

I want to thank you all very much for your time and interest. We'll look to expand further on these insights during at an Analyst Investor Day that we are planning now. and when we'll provide additional details on soon. So I'll turn it over now to the Chief Financial Officer, Shaun Blakeman. Shaun?

我非常感謝大家的時間和興趣。我們將在我們現在計劃的分析師投資者日期間進一步擴展這些見解。我們將很快提供更多詳細資訊。現在我將把它交給財務長肖恩布萊克曼 (Shaun Blakeman)。肖恩？

Thank you, Roy. To begin, I'd like to summarize our highly successful recently completed merger with CM Life Sciences II, which closed on September 1. And our subsequent listing on the NASDAQ Exchange under our new ticker symbol, SLGC. As Roy mentioned, we are very pleased that we successfully closed the transaction with total proceeds of approximately $630 million.

謝謝你，羅伊。首先，我想總結我們最近非常成功地完成的與 CM Life Sciences II 的合併，合併於 9 月 1 日完成。正如 Roy 所提到的，我們很高興能夠成功完成交易，總收益約為 6.3 億美元。

I'd like to start off by talking about why we're ahead of expectations and why we expect continued strength and are raising our guidance a second time by highlighting some important metrics this year that reflect the strength of our business. First of all, our year-to-date revenue growth is over 110% compared to the first 9 months of 2020, and we are seeing that growth broadly across all channels. Even more significantly, we are driving growth disproportionately by the addition of new customers, creating a broader and more diversified base on which we are growing our sales pipeline. In fact, this year we have added 34 new accounts in Q3 and 61 year-to-date alone, which is 170% more new accounts than we added year-to-date last year.

我想先談談為什麼我們超出了預期，為什麼我們期望持續強勁，並透過強調今年反映我們業務實力的一些重要指標來第二次提高我們的指導。首先，與 2020 年前 9 個月相比，我們今年迄今的營收成長超過 110%，而且我們看到所有管道都在廣泛成長。更重要的是，我們透過增加新客戶來推動成長，為我們擴大銷售管道創造了更廣泛、更多元化的基礎。事實上，今年我們在第三季就增加了 34 個新帳戶，光是年初至今就增加了 61 個新帳戶，比去年年初至今增加的新帳戶多了 170%。

And the driver of this is our aggressive commercial team ramp. We have more than tripled our commercial team from 14 employees to 47 year-to-date 2021. And we are going to continue this aggressive investment in our commercial team. which we believe will build on the strong sales trends we've executed on through 2021.

而這的驅動力是我們積極進取的商業團隊的進步。 2021 年迄今，我們的商業團隊人數增加了兩倍多，從 14 名員工增加到 47 名。我們相信，這將建立在 2021 年我們所執行的強勁銷售趨勢的基礎上。

Now let me turn to our financial results for the third quarter. Revenue for the 3 months ended September 30, 2021 was $20 million, a 40% increase from $14.2 million in the same period of the prior year. As I already mentioned, revenue growth was driven by the aggressive growth of our sales organization and the associated increase in our customer base.

現在讓我談談第三季的財務表現。截至2021年9月30日的三個月營收為2,000萬美元，較上年同期的1,420萬美元成長40%。正如我已經提到的，收入成長是由我們銷售組織的積極成長以及客戶群的相關成長所推動的。

Gross margin for the third quarter of 2021 was 56% compared to 65% in the third quarter of the prior year. However, as noted in the press release, our third quarter 2020 included a onetime noncash adjustment to inventory. It is worth noting that our gross margins have steadily improved over the past 2 years with customer diversification, with our core service business at a solid mid-50% plus range.

2021 年第三季的毛利率為 56%，而上年第三季為 65%。然而，正如新聞稿中指出的，我們在 2020 年第三季對庫存進行了一次性非現金調整。值得注意的是，隨著客戶多元化，我們的毛利率在過去兩年中穩步提高，我們的核心服務業務穩定在 50% 以上的範圍內。

Total operating expenses for the third quarter of 2021 were $36.2 million, a 138% increase from $15.2 million in the third quarter of 2020. R&D expenses for the third quarter of 2021 were $15.6 million compared to $6.9 million in the third quarter of 2020, but includes a nonrecurring noncash $6.5 million stock compensation expense related to a secondary sale of stock and options, which is excluded in our adjusted EBITDA.

2021 年第三季的總營運費用為3,620 萬美元，比2020 年第三季的1,520 萬美元成長138%。美元，但包括與股票和選擇權二次銷售相關的 650 萬美元非經常性非現金股票補償費用，該費用不包括在我們調整後的 EBITDA 中。

Sales, general and administrative expenses for the third quarter of 2021 were $20.6 million compared to $8.3 million in the third quarter of 2020. The primary drivers of these increases are headcount additions as we continue to invest in our technology platforms, the commercial team and related functional support and public company readiness.

2021 年第三季的銷售、一般和管理費用為2,060 萬美元，而2020 年第三季為830 萬美元。商業團隊和相關職能支援和上市公司準備。

Following non-GAAP adjustments for a loss on extinguishment of debt and stock compensation charges related to a secondary selling above fair value, our adjusted EBITDA for the third quarter of 2021 was a loss of $31.8 million. This compares to an adjusted EBITDA loss of $5.2 million for the year ago period. Please see our press release and 8-K on file with the SEC as of this morning for a reconciliation between GAAP net loss and non-GAAP adjusted EBITDA.

在根據非公認會計原則對債務清償損失和與高於公允價值的二次出售相關的股票補償費用進行調整後，我們 2021 年第三季調整後的 EBITDA 為虧損 3,180 萬美元。相較之下，去年同期調整後的 EBITDA 虧損為 520 萬美元。請參閱我們的新聞稿以及截至今天上午向 SEC 備案的 8-K，以了解 GAAP 淨虧損與非 GAAP 調整後 EBITDA 之間的對帳情況。

I would like to explain specifically the impact of earn-out shares and warrants related to the SPAC merger in our Q3 results. Combined, they account for $13.8 million or over 40% of our adjusted EBITDA loss for the quarter. It is also important to note that going forward, as the estimates and assumptions that lie behind these valuations change, these particular liabilities in our balance sheet can swing significantly, albeit as noncash items.

我想具體解釋與 SPAC 合併相關的獲利股票和認股權證對我們第三季業績的影響。它們合計造成 1,380 萬美元，占我們本季調整後 EBITDA 虧損的 40% 以上。同樣重要的是要注意，展望未來，隨著這些估值背後的估計和假設發生變化，我們資產負債表中的這些特定負債可能會大幅波動，儘管是非現金項目。

We ended the quarter with $676 million of cash equivalents and short-term investments. Based on the ongoing strength in our business, we are initiating formal 2021 guidance of $77 million to $79 million in revenue, representing growth of 38% to 41% over 2020 revenue of $55.9 million.

截至本季末，我們的現金等價物和短期投資為 6.76 億美元。基於我們業務的持續優勢，我們啟動了 2021 年收入 7,700 萬至 7,900 萬美元的正式指導，比 2020 年 5,590 萬美元的收入增長 38% 至 41%。

At this point, I would like to turn the call back to Roy for closing comments.

此時，我想將電話轉回羅伊以徵求結束意見。

Thanks, Shaun. And thanks so much for the time today to give you some background and updates on SomaLogic. We've already developed a successful increasingly comprehensive set of proteomics products and solutions, and you'll see us both broadening and deepening these capabilities over the coming months and years to better serve those who would benefit from them.

謝謝，肖恩。非常感謝您今天抽出時間為您介紹 SomaLogic 的一些背景知識和最新動態。我們已經開發出一套成功的、日益全面的蛋白質組學產品和解決方案，您將看到我們在未來的幾個月和幾年中擴大和深化這些能力，以更好地服務那些將從中受益的人。

We have an objective opportunity and a real opportunity to work with all of you in the investment community as well as our partners, collaborators and customers to relieve human suffering and extend meaningful life, an opportunity for which I am personally grateful to have.

我們有一個客觀的、真正的機會與投資界的所有人以及我們的合作夥伴、合作者和客戶一起努力，減輕人類的痛苦，延長有意義的生活，我個人很感激能有這樣的機會。

With that, we'll open it up to questions. Joining Shaun and I for the question portion of the call is our President and Chief Operating Officer, Melody Harris; and our Chief Medical Officer, Dr. Steve Williams. Operator?

至此，我們將開放提問。我們的總裁兼營運長梅洛迪·哈里斯 (Melody Harris) 與肖恩和我一起參與了電話會議的問題部分。以及我們的首席醫療官 Steve Williams 博士。操作員？

(Operator Instructions) Your first question comes from Dan Brennan with Cowen.

（操作員說明）您的第一個問題來自 Dan Brennan 和 Cowen。

Congrats on the quarter. The sales trajectory in '21 has been exceeding the forecast that you initially laid out in this tax filing this summer and then you raised the guidance subsequent to that, and now you're raising it again. And I know, Shaun, you spoke about the impact of the expanding commercial team, which is great.

恭喜本季。 21 年的銷售軌跡超出了您在今年夏天的納稅申報中最初提出的預測，然後您提高了隨後的指導，現在您再次提高了它。我知道，肖恩，你談到了不斷擴大的商業團隊的影響，這非常棒。

Maybe just taking a different angle. Can you just give us a sense on the business trends and particularly by customer application? And what has been progressing better than you would have expected given 2 guidance ranges to date?

也許只是換個角度。您能否讓我們了解一下業務趨勢，特別是客戶應用的趨勢？到目前為止，在 2 個指導範圍內，哪些進展比您預期的要好？

Sure, Dan. This is Roy. So we really attribute the growth in 2021 and the 2 upward revisions of our projections and guidance to 2 things -- one is -- really 3 things: One, the first is we've obviously alluded to and you alluded to as well, just the simple growth of our commercial team. There is a fairly strong correlation, at least there has been over the last year, between the addition of new field team staff and new business. And that's generated a pipeline that's about 3x larger than it was last year.

當然，丹。這是羅伊。因此，我們確實將2021 年的成長以及我們的預測和指導的兩次向上修正歸因於兩件事——其中一件事是——實際上是三件事：第一，我們顯然已經提到了，您也提到了，只是我們商業團隊的簡單成長。新現場團隊人員的增加與新業務之間存在相當強的相關性，至少在去年是如此。這產生了比去年大約 3 倍的管道。

The second is related primarily to some changes in business model that we made over the last year. And we were hopeful that the changes that we made to the business model would have a large impact, but obviously couldn't predict exactly what that impact would be. And basically, those changes were primarily centered around removing a restriction from our customers to have to provide us data and rights to data when we ran their samples. In other words, allowing for a fee-for-service component, and then announcing to the market that we would be adding a variety of new products on to the large discovery platform that we have in regards to these panels that we've put out.

第二個主要與我們去年在商業模式上所做的一些改變有關。我們希望我們對商業模式所做的改變能夠產生巨大的影響，但顯然無法準確預測這種影響會是什麼。基本上，這些變更主要集中在消除客戶在我們運行他們的樣本時必須向我們提供資料和資料權利的限制。換句話說，允許按服務付費，然後向市場宣布我們將在我們已經推出的這些面板的大型發現平台上添加各種新產品。

And then the third thing, I believe, is just the general interest in proteomics and the general market growth for the field. So it's really nothing more complex than that. It's really related to those 3 things.

我認為，第三件事就是人們對蛋白質體學的普遍興趣以及該領域的整體市場成長。所以實際上沒有什麼比這更複雜的了。確實和這3件事有關。

Got it. Okay. So the company you alluded to, some of the large pharma customers or some of the key customer contracts you have, I know Amgen and Novartis were disclosed in the filing as being notable customers. Can you just give us a sense of the contribution of some of your larger customers this quarter? And then kind of as we look out, how does that contribution change? Just trying to get a sense of the contribution from biopharma versus the academia and then diagnostics as we look out.

知道了。好的。因此，您提到的公司，一些大型製藥客戶或您擁有的一些關鍵客戶合同，我知道安進和諾華在文件中被披露為著名客戶。您能否讓我們了解本季一些大客戶的貢獻？然後當我們觀察時，這種貢獻會發生什麼樣的變化？只是想了解生物製藥與學術界的貢獻，然後我們觀察診斷。

Sure. The -- classically, over the last couple of years, our ratio of biopharma customer revenue to basic investigator or academic investigator revenue, it's been about 80:20. And over the last year, I would say that, that ratio has been maintained because we've added, as we've mentioned, a large number of new customers in both sectors, in both biopharma and in basic research.

當然。過去幾年，我們的生物製藥客戶收入與基礎研究者或學術研究者收入的比例通常約為 80:20。我想說的是，在過去的一年裡，這一比例一直保持不變，因為正如我們所提到的，我們在生物製藥和基礎研究這兩個領域都增加了大量新客戶。

I obviously can't predict what will happen to that ratio over time. I do think that with the additional products that we put into the market over the last year and with a growing field team that we could certainly see some disproportionate increases in that basic research component, just because of the hand-to-hand combat that's required to bring those customers onto the platform.

我顯然無法預測隨著時間的推移該比率會發生什麼變化。我確實認為，隨著去年我們投入市場的更多產品以及不斷壯大的現場團隊，我們肯定會看到基礎研究部分出現不成比例的增長，僅僅是因為需要進行肉搏戰將這些客戶引入該平台。

The -- we are assiduously focused on bringing longer-term higher volume contracts onto the platform. we signed Novartis to a 10-year deal back at the end of 2019. And over the last year, we've added 3 additional 2- to 3-year contracts with large biopharma organizations as well. And I think you'll see us bringing some more of those on to the platform as well over time.

我們致力於將長期、大批量的合約引入平台。早在 2019 年底，我們就與諾華公司簽署了一份為期 10 年的協議。我想隨著時間的推移，您也會看到我們將更多的內容帶到這個平台上。

Okay. Great. In this tax filing, management had laid out some sales forecast for '22 and '23. I know you're not guiding today. But I'm just wondering, given the strength of the business year-to-date, I think the sales forecast then we're implying somewhere like a 34%, 35% year-over-year growth in '22, '23.

好的。偉大的。在這份報稅文件中，管理層列出了 22 年和 23 年的一些銷售預測。我知道你今天沒有指導。但我只是想知道，考慮到今年迄今為止的業務實力，我認為我們的銷售預測意味著 22 年、23 年同比增長 34%、35%。

Any way to think about, I would presume, given the strength that you've seen year-to-date, this is not like a pull forward, this is like organic growth given everything you've discussed. So just a higher way of asking, any way to think about like the trajectory as we exit this year versus the sales forecast that you originally laid out back in the filing?

無論如何思考，我認為，考慮到您今年迄今為止所看到的實力，這不像是向前推進，考慮到您所討論的一切，這就像有機增長。因此，我想以一種更高的方式提出問題，有什麼方法可以考慮我們今年退出時的軌跡與您最初在文件中列出的銷售預測嗎？

I'll make a high-level comment, then I'll turn it over to Shaun to talk about our philosophy around guidance for 2022 and 2023. At a high level, we are very optimistic and very confident that the trajectory that we've seen this year will continue over the next 2 years. Again, as we add to our field team and bring customers onto the platform, some of which who have been waiting for us to make those business model changes we made over the last year. Shaun, any additional comments about guidance for 2022 and 2023?

我將發表高級別評論，然後將其交給肖恩，討論我們圍繞 2022 年和 2023 年指導的理念。兩年持續。再次，當我們增加我們的現場團隊並將客戶引入該平台時，其中一些客戶一直在等待我們做出我們去年所做的業務模式變更。 Shaun，關於 2022 年和 2023 年的指導還有什麼其他意見嗎？

Yes. I mean certainly, we look forward to talking with you about our 2022 guidance sometime in the next few months and giving you more details behind that. I would like to follow up and it does also relate to the customer classification question that you had, which is what I think is remarkable that I'd like to point out, is that the growth of our diversified pipeline with the new commercial team and the expanding commercial team and how you're seeing that affect our numbers.

是的。我的意思是，我們當然期待在未來幾個月的某個時候與您討論我們的 2022 年指導方針，並為您提供更多細節。我想跟進一下，這確實也與您提出的客戶分類問題有關，我認為這是值得注意的，我想指出的是，我們的多元化管道與新的商業團隊和不斷擴大的商業團隊以及您如何看待這對我們的數字的影響。

So although you can see in our past, right, that you will -- we have the benefit of large customer contracts and we'll continue to have those benefits in certain quarters, we're also filling that in aggressively with our new diversified customer base at a fast clip, and we expect that to continue. So I think you will continue to see those quarters where we benefit from 2 or 3 really good things happening, but we're going to be backfilling it with our rapid expansion of our diversified customer base.

因此，儘管您可以在我們的過去看到，對，您會- 我們享有大客戶合約的好處，並且我們將在某些季度繼續享有這些好處，但我們也正在積極地通過我們新的多元化客戶來填補這一點基礎快速，我們預計這種情況將持續下去。因此，我認為您將繼續看到我們從兩三個真正好的事情發生中受益的季度，但我們將透過我們多元化客戶群的快速擴張來回填它。

Dan, this might be -- just want to say this might be a good opportunity for Melody Harris, our President and COO, to comment a little bit more specifically on how the concentration of the business has changed over the last year. Melody?

丹，這可能只是想說，這對我們的總裁兼營運長 Melody Harris 來說可能是一個很好的機會，可以更具體地說明去年業務集中度的變化。旋律？

Sure. Thanks, Roy. So over the last year, with the addition of the 61 additional new customers, we're seeing those come in as first time wanting to try the platform. The good news is we're super excited to see that those initial test runs with those customers are increasing, so they're taking larger bites as they come in. And then we're starting to see them come through as repeat customers. So we're very excited about the growth.

當然。謝謝，羅伊。去年，隨著 61 位新客戶的增加，我們看到這些客戶是第一次想要嘗試這個平台。好消息是，我們非常興奮地看到這些客戶的初始測試正在增加，因此他們進來時會接受更大的份額。所以我們對這種成長感到非常興奮。

We've also seen good diversification. As you know, we have the large contract with Novartis. That's been fueling a lot of our revenue in the past. But this year, we're seeing that concentration with Novartis fall, and our regular business from those new customers is actually taking up the space in between with where Novartis and Amgen previously were.

我們也看到了良好的多元化。如您所知，我們與諾華公司簽訂了大額合約。這在過去為我們帶來了大量收入。但今年，我們看到諾華的集中度下降，而我們來自這些新客戶的常規業務實際上佔據了諾華和安進之前的位置。

Yes. The contribution from Novartis is falling relative to the other customers. Actually, the contribution on a year-over-year basis is increasing. So as Melody elucidated there, the business is becoming much less concentrated as we move forward and bring all these new customers onto the platform. Even though those large contracts that we've had the benefit of, over the last few years, continue as well.

是的。相對於其他客戶，諾華的貢獻正在下降。事實上，貢獻逐年增加。因此，正如 Melody 所闡明的那樣，隨著我們不斷前進並將所有這些新客戶引入該平台，業務的集中度正在變得越來越低。儘管我們在過去幾年中受益的那些大型合約仍在繼續。

And if I can just get one more in, if you don't mind. I know like a fair amount of time on the diagnostics traction in the $40 billion TAM. Any way to think about how meaningful diagnostics could be, whether traditional diagnostics or translational for use in clinical trials, or however you want to characterize it?

如果你不介意的話，我可以再放一張進去。我知道價值 400 億美元的 TAM 需要相當多的時間用於診斷牽引。有什麼方法可以思考診斷有多有意義，無論是傳統診斷還是用於臨床試驗的轉化診斷，或者無論您想如何描述它？

Like how meaningful could this be as we look out over the next, say, 12 to 24 months? I'm not quite sure what it's contributing today, but given the TAM and how much time you're spending there, and the uniqueness of the platform, just wondering if this is going to be a real revenue driver kind of in the near to intermediate term.

當我們展望未來（例如 12 到 24 個月）時，這會有多大意義？我不太確定它今天的貢獻是什麼，但考慮到 TAM 以及您在那裡花費的時間，以及該平台的獨特性，我只是想知道這是否會在不久的將來成為真正的收入驅動因素中期。

In time, Dan, this will be an incredible revenue driver. And just to step back for a moment and talk about what these -- what this diagnostic approach is capable of doing. One of the major problems in population health management is making accurate predictions about groups of patients.

丹，隨著時間的推移，這將成為令人難以置信的收入驅動力。退後一步，談談這些——這種診斷方法能夠做什麼。人口健康管理的主要問題之一是對患者群體進行準確預測。

So imagine if you're running a large Medicare Advantage plan, and you've got 50,000 diabetics. Imagine the ability to run a test on those individuals every other year and determine what their risk of long-term complications could be and then take that 2,000 that you identify and bear down on those to prevent those and to bend the cost curve considerably.

因此，想像一下，如果您正在運行一項大型 Medicare Advantage 計劃，並且您有 50,000 名糖尿病患者。想像一下，每隔一年對這些人進行一次測試，確定他們出現長期併發症的風險，然後將您識別出的 2,000 個人進行測試，以防止這些人發生這些情況，並大大降低成本曲線。

And then, of course, just managing individual patients, to be able to tell someone whom you thought you were managing at the top of your license that they're actually a very high risk for a cardiovascular event and to make a change in their drug regimen that prevents that event and so forth.

然後，當然，只是管理個別患者，能夠告訴那些你認為你在執照頂部管理的人，他們實際上是心血管事件的高風險者，並改變他們的藥物預防該事件的方案等等。

So medically over time, these tests should be transformational. And I was a clinician for 20 years, and so I don't say that lightly. Over the next 2 years, what we'll be doing is stepping through the hoops that you have to step through to get a new diagnostic platform in the clinical practice.

因此，從醫學角度來看，隨著時間的推移，這些測試應該具有變革性。我當了 20 年的臨床醫生，所​​以我不會輕易這麼說。在接下來的兩年裡，我們要做的就是克服您必須克服的困難，並在臨床實踐中獲得新的診斷平台。

So we've created this pre-precision health initiative. We have 6 partners. We'll be adding a few more. They'll be doing benefits proof and utility proof trials. Intermountain is already enrolling on those. I'll ask Steve Williams in a minute to comment on where we are in those trials. And then we're also collecting the data for regulatory filings.

因此，我們創建了這個預精準健康計劃。我們有6個合作夥伴。我們將添加更多。他們將進行效益證明和效用證明試驗。 Intermountain 已經在招募這些項目。我稍後會請史蒂夫威廉斯評論我們在這些試驗中的進展。然後我們也收集監理備案的數據。

And then another thing is that we have a huge number of these assets already. We have 20 first-in-class tests that are already validated. These are unique assets. We've got, as I mentioned, more than 100 in our pipeline. And so we're thinking really hard about how do we diversify taking those to market through a combination of us taking some to market, licensing some to other partners who have already expressed an interest in these. We are having those conversations as we are speaking in real time. And then in addition, being the development partner for these as well. Steve Williams, can you talk a little bit about where we are on these benefits proof in utility proof trials?

另一件事是我們已經擁有大量此類資產。我們有 20 項一流的測試已經過驗證。這些都是獨特的資產。正如我所提到的，我們的管道中有 100 多個。因此，我們正在認真思考如何透過將一些產品推向市場、將一些產品授權給其他已經對此表示感興趣的合作夥伴的組合，將這些產品推向市場。我們正在進行即時對話。此外，也成為這些產品的開發合作夥伴。史蒂夫威廉斯（Steve Williams），您能談談我們在效用證明試驗中這些益處證明的進展嗎？

Dan, so I think that the way we like to think of these tests in the near term is that they have a dual use in both markets. So if you think about our leading tests, which are most differentiated from the competition, prediction of near-term catastrophic cardiovascular events as one and NASH is another, nonalcoholic data hepatitis. And both of those have uses to accelerate the path of drug development in stratifying patients entry into clinical trials and monitoring their response.

丹，所以我認為我們在短期內考慮這些測試的方式是它們在兩個市場都有雙重用途。因此，如果您考慮我們與競爭對手最有區別的領先測試，預測近期災難性心血管事件是一種預測，而 NASH 是另一種預測，即非酒精性數據肝炎。這兩者都可以用來加速藥物開發的進程，對進入臨床試驗的患者進行分層並監測他們的反應。

And that's a very attractive formula for clients who get the 7,000 protein measurements, and they get validated tests that can be used during the exploratory development phase, the monitor response. So let's not forget that they actually have these dual use. And we do have clients, pharma clients who are using these tests.

對於獲得 7,000 次蛋白質測量結果的客戶來說，這是一個非常有吸引力的公式，並且他們獲得了可在探索性開發階段（即監測響應）中使用的經過驗證的測試。因此，我們不要忘記它們實際上具有雙重用途。我們確實有客戶、製藥客戶正在使用這些測試。

But what Roy asked me to speak about really was the use in the proteomics for Precision Health. And there, we have intending to start 6 clinical studies and the key objective of those studies is to show that clinicians can and will act upon this information, this new kind of information. And what we're providing them with is a prediction that finds people who have a 1-in-2 chance of death, Heart attack, stroke or heart failure, within about 18 months.

但羅伊讓我談論的其實是蛋白質體學在精準健康領域的應用。我們打算啟動 6 項臨床研究，這些研究的主要目標是表明臨床醫生能夠並且願意根據這些新資訊採取行動。我們為他們提供的是一項預測，可以發現人們在大約 18 個月內有二分之一的機會死於心臟病、中風或心臟衰竭。

And it turns out that in a slightly higher than typical risk population, like people with diabetes, that's about 20% of the population. So 20%, 1 in 5 people, has a 50-50 chance of 1 of these events, and the commonest event type is death. So that is -- and it happens about 18 months after the sample.

事實證明，在略高於典型風險族群（例如糖尿病患者）中，這一比例約為 20%。因此，20%（即五分之一的人）有 50-50 的幾率發生其中 1 種事件，而最常見的事件類型是死亡。也就是說，這發生在樣本採集後大約 18 個月。

The exciting thing about that is that it's not destiny that actually we can change it. And there are new kinds of cardio-protective drugs out there that are not very widely used but they could be used in these people to reduce the event rate. So we believe this cost-effective allocation of existing drugs is a huge opportunity. And those studies, those 6 studies that we're in the process of starting, as we said Intermountain has already started, the primary endpoint is can we achieve risk-concordant prescribing? The people I just mentioned who are in that high group, can we up the prescription rates from what's typically 15%, can we get nearly 100% of those people on these newer drugs?

令人興奮的是，我們實際上無法改變命運。還有一些新型的心臟保護藥物尚未廣泛使用，但它們可以用於這些人以降低事件發生率。因此，我們認為現有藥物的這種具有成本效益的分配是一個巨大的機會。這些研究，我們正在啟動的 6 項研究，正如我們所說的 Intermountain 已經啟動的那樣，主要終點是我們能否實現風險一致的處方？我剛才提到的那些屬於這一高群體的人，我們能否將處方率從通常的 15% 提高，我們能否讓這些人中近 100% 的人使用這些新藥？

The reason they're not on them today is because there's no way of accurately assessing their residual risk. And you don't want to put someone on a drug with side effects and costs when you don't actually know. It's not like blood pressure, cholesterol, where you can measure them and the drugs treat them. The newer approaches, like SGLT2s and GLP-1s, there isn't a measurable thing related to the drug mechanism, and that's what we provide.

他們今天不這樣做的原因是因為沒有辦法準確評估他們的剩餘風險。當你實際上不知道的時候，你不想讓某人服用有副作用和費用的藥物。它不像血壓、膽固醇，你可以測量它們，然後用藥物治療它們。較新的方法，如 SGLT2 和 GLP-1，沒有與藥物機制相關的可測量的東西，而這正是我們所提供的。

So we're really excited about that. And within the next 1 to 2 years, what you'll see as we complete those studies is can we achieve risk-concordant prescribing that leads to more cost-effective application of existing drugs.

所以我們對此感到非常興奮。在接下來的一到兩年內，當我們完成這些研究時，您將看到我們能否實現風險一致的處方，從而使現有藥物的應用更具成本效益。

Your next question comes from Dan Arias With Stifel.

您的下一個問題來自 Dan Arias 和 Stifel。

Roy, on the scope of analysis that the platform enables 7,000 plex today going to 10,000 next year, I believe, Where do you see the incremental demand coming from when you do that? And do you have any loose time lines that we can think about for development and then commercialization of those capabilities?

Roy，根據該平台目前支援 7,000 個 plex 到明年 10,000 個 plex 的分析範圍，我相信，當您這樣做時，您認為增量需求來自哪裡？對於這些功能的開發和商業化，您是否有任何寬鬆的時間表可供我們考慮？

Sure, Dan. So we're very excited to move the content up from 7,000 the 10,000 and of course, beyond and moving forward. At 7,000, we're already measuring 4,000 proteins that no other commercial proteomics enterprise can at scale. And then at 10,000 that gap is going to widen.

當然，丹。因此，我們非常高興能夠將內容從 7,000 增加到 10,000，當然，還會繼續向前邁進。在 7,000 種蛋白質中，我們已經測量了 4,000 種蛋白質，這是其他商業蛋白質體學企業無法規模化的。然後到 10,000 時，差距就會擴大。

The -- there appears to be an almost insatiable demand from our biopharma customers for more content. And that's not shocking. If you think about the fact that they use this information to drive better understanding of human biology to develop new medicines and new vaccines, and to find things like newer gene protein associations, what are called PQTLs, all of which can potentially lead to the development of more effective medications and therapeutics. So there does appear to be an insatiable demand for content from those customers.

我們的生物製藥客戶對更多內容的需求似乎幾乎無法滿足。這並不令人震驚。如果你想一想，他們利用這些資訊來更好地了解人類生物學，以開發新藥物和新疫苗，並找到新的基因蛋白質關聯（即所謂的PQTL）之類的東西，所有這些都可能導致開發更有效的藥物和治療方法。因此，這些客戶對內容的需求似乎是無法滿足的。

And the reason I say that is, that at least 3 of our large biopharma customers have actually asked us in the last year if we would ride into their contracts that they continue to have access to the higher content. So as far as the time line, we are currently creating about 500 of these new or synthesizing ourselves about 500 of these new -- after what we call our SOMAmers ligands for proteins, a quarter.

我這麼說的原因是，去年我們至少有 3 個大型生物製藥客戶實際上問過我們是否願意遵守他們的合同，讓他們繼續獲得更高的內容。就時間線而言，我們目前正在創造大約 500 個這樣的新物質，或者我們自己合成大約 500 個這樣的新物質——在我們稱之為蛋白質 SOMAmers 配體之後，四分之一。

And we should be reaching that 10,000 mark, at least the capability to measure 10,000 proteins during the fiscal year of 2022. But likely, it will be early in 2023 before we can commercialize that because once you get to that level of content, you still have to productize it and shift the collateral and so forth, match that new product. But -- so capability in 2022, that will become part of our product portfolio, if all things go well and in the first 2 quarters of 2023.

我們應該會達到 10,000 個大關，至少能夠在 2022 財年測量 10,000 種蛋白質。轉移抵押品等，以配合新產品。但是，如果一切順利的話，到 2022 年的能力將成為我們產品組合的一部分，並且在 2023 年前兩個季度實現。

And then maybe on the diagnostics side, the menu that you have there is -- with the planned menu is pretty expansive. So I know you touched on some of the points during Dan's questions, but can you just spend an additional minute on sort of how you handle those plans and how we should think about where you carry the load when it comes to development activity versus where you might have the partners drive more of the process or do more of the work?

然後也許在診斷方面，您擁有的菜單 - 計劃的菜單相當廣泛。所以我知道你在丹的提問中談到了一些要點，但是你能再花一點時間談談你如何處理這些計劃，以及我們應該如何考慮在開發活動方面你承擔的責任與你承擔的責任是否可以讓合作夥伴推動更多流程或完成更多工作？

Sure. Well, I think Steve Williams and others who predate my arrival here were very smart in thinking about which areas to focus on initially. The thing about proteomics tests in the way that we make these, of course, is that we find protein expression patterns between -- and in our models, it's between 16 and 360 proteins. A vast majority of the proteins we would not put into those models, so this is where the machine learning becomes important.

當然。嗯，我認為史蒂夫威廉斯和我到達這裡之前的其他人在考慮最初應該關注哪些領域方面非常聰明。當然，我們進行蛋白質體學測試的方式是，我們發現了 16 到 360 種蛋白質之間的蛋白質表現模式。 我們不會將絕大多數蛋白質放入這些模型中，因此這就是機器學習變得重要的地方。

Steve and his colleagues decided to focus initially on cardiovascular metabolic disease. That -- I think that was very wide, it's set of endemic conditions. It's also a set of conditions for which there are therapies that can change the trajectory of these illnesses. We -- as a follow-on to that, have created in that metabolic area, these diagnostic tests that predict complications in diabetes. And then sort of as a corollary to that, from an organ system, we've moved into renal disease as well. And so sort of rounding out that cardiac and metabolic and renal, there's certainly a disease access between the heart and the kidney and with diabetes.

史蒂夫和他的同事決定先關注心血管代謝疾病。我認為範圍非常廣泛，是一系列流行病。對於這一系列病症，有治療方法可以改變這些疾病的發展軌跡。作為後續工作，我們在代謝領域創建了這些預測糖尿病併發症的診斷測試。作為一個推論，從器官系統來看，我們也進入了腎臟疾病領域。因此，除了心臟、代謝和腎臟之外，心臟和腎臟之間肯定存在疾病路徑以及糖尿病。

And then we have decided to focus next on cancer. We believe that we are likely to have a set of tests over the next year that can predict not -- not early detection, so not like a cell-free DNA test, but a set of tests that will be able to tell you what your actual biologic risk of developing cancer in the near future is. And so you can imagine the impact on the way that we screen patients for cancer and the way you could potentially coordinate those with these early detection, cell-free DNA platforms and so forth. So we believe that could be transformational as well.

然後我們決定下一步要專注於癌症。我們相信，我們可能會在明年進行一系列測試，這些測試可以預測——不是早期檢測，因此不像無細胞 DNA 測試，而是一組能夠告訴您您的情況的測試。的實際生物風險是。因此，您可以想像這對我們篩檢癌症患者的方式產生的影響，以及您可能如何透過這些早期檢測、無細胞 DNA 平台等來協調這些方式。所以我們相信這也可能是變革性的。

As far as other diseases, I would say next in the pipeline or -- we are looking at neurologic diseases, Alzheimer's and related conditions. And we're really letting, moving forward from there, the market inform us as to what it's most interested in.

至於其他疾病，我想說的是，我們正在研究神經系統疾病、阿茲海默症和相關疾病。從那時起，我們真的讓市場告訴我們它最感興趣的是什麼。

As far as determining the breakdown between what we decide to take fully to market and what we decide to partner for or license to take to market, we haven't made that discernment yet, and we're actively in discussions now, both internally and with potential partners, several potential partners, to make this decision about what we'll take forward and what we'll license or provide others access to, to take forward.

至於確定我們決定完全推向市場的產品和我們決定合作或許可推向市場的產品之間的細目，我們還沒有做出這種區分，我們現在正在積極討論，無論是內部還是外部。合作夥伴，幾個潛在的合作夥伴，就我們將推進的內容以及我們將許可或向其他人提供存取權限的內容做出決定，以推進。

And then, of course, moving past even that is this opportunity to be the developer of these algorithms for others on demand, using both our growing database and/or the samples that those partners might bring to the table.

當然，甚至超越這一點，就有機會使用我們不斷增長的資料庫和/或這些合作夥伴可能提供的樣本，為其他人按需開發這些演算法。

Your next question comes from Tycho Peterson with JPMorgan.

您的下一個問題來自摩根大通的第谷彼得森。

Roy, I want to go back to the Precision Medicine Initiative. I appreciate the additional color Stephen provided. But do you envision this being expanded at all beyond 6 initial trials? And how should we think about kind of data readouts? I know you said over the next 1 to 2 years, but will there be kind of interim data? And how should we think about kind of milestones we can track from the outside?

羅伊，我想回到精準醫學計劃。我很欣賞史蒂芬提供的額外顏色。但您是否設想將其擴展到 6 次初步試驗之外？我們應該如何考慮資料讀出的類型？我知道你說的是未來一到兩年，但會有中期數據嗎？我們應該如何考慮可以從外部追蹤的里程碑類型？

Sure. I'll make a couple of high-level comments, Tycho, and then I'll ask Steve to elaborate a bit. So yes, we have designed these trials in a way that it's not going to take 3 or 4 years for them to be complete. We will be getting data with some data, we think, within a year or so to talk about back to the market.

當然。第谷，我將發表一些高級評論，然後我將請史蒂夫詳細說明。所以，是的，我們設計這些試驗的方式不需要 3 或 4 年就能完成。我們認為，我們將在一年左右的時間內獲得一些數據，並在市場上進行討論。

We also do plan to grow this. We are in discussions with another number of leading medical institutions in North America to expand this list from 6 to a higher number. We haven't decided what the top end is going to be. It's going to be determined largely by the next set of -- these first 6 are primarily focused on cardiovascular disease, and the number that we bring to the table will be primarily focused or determined by which disease process or which set of tests we want to work with this next set of partners on.

我們也確實計劃發展這一點。我們正在與北美其他一些領先的醫療機構進行討論，以將該名單從 6 家擴大到更多。我們還沒決定高端是什麼。這將在很大程度上取決於下一組——前 6 組主要關注心血管疾病，我們提供的數字將主要關注或取決於我們想要的疾病過程或哪組測試與下一組合作夥伴合作。

But we will be adding additional partners to this Precision Medicine Initiative. And it's really from a variety of standpoint, I already mentioned that the ability to -- for these individual health systems and their physicians to do benefits proof and utility proof work, to sort of further validate beyond our demonstration market, which has already run more than 2,500 tests itself.

但我們將為這項精準醫學計畫增加更多合作夥伴。實際上，從各個角度來看，我已經提到過，這些個人衛生系統及其醫生能夠進行效益證明和效用證明工作，以在我們的示範市場之外進行進一步驗證，該市場已經運行了更多超過2,500 次測試本身。

But for these to be validated in the utility proof determined by these partners to create for regulatory filing and then 2 other things. One, obviously, some of these health systems could be our first real customers at scale. And then lastly, we are discussing with all of these health system partners the potential to share data on a prospective basis to create more diagnostic models moving forward. As you know, clinical data is the gift that keeps on giving.

但這些要在這些合作夥伴確定的實用證明中進行驗證，以便為監管備案創建，然後還有其他兩件事。顯然，其中一些衛生系統可能是我們的第一批真正的大規模客戶。最後，我們正在與所有這些衛生系統合作夥伴討論前瞻性地共享數據的可能性，以創建更多的診斷模型。如您所知，臨床數據是不斷贈送的禮物。

Steve, would you like to discuss just briefly how soon do you think we'll begin to see some data come out that we can talk about in these trials?

史蒂夫，您想簡單地討論一下您認為我們多久才能開始看到一些我們可以在這些試驗中討論的數據嗎？

Thanks. I think you said it well. The studies themselves are only just beginning to recruit patients and typically, we're looking at about 6-month duration for an individual in a study. So when you add up the recruitment time from the beginning of the first patient to the end of the last, I would imagine, 18 months to 2 years is a reasonable timescale.

謝謝。我覺得你說得很好。這些研究本身才剛開始招募患者，通常我們會關注研究中個體的大約 6 個月的持續時間。因此，當你把從第一個病人開始到最後一個病人結束的招募時間加起來時，我想，18 個月到 2 年是一個合理的時間範圍。

And I would -- depending on Roy's decisions, I think we would anticipate releasing some of that information to the market. Roy mentioned some of the other indications we were going for, I think, the next one. The first studies are all in people with diabetes. Can we improve this drug allocation that I just -- that we talked about earlier.

我會 - 根據羅伊的決定，我認為我們預計會向市場發布其中一些資訊。羅伊提到了我們要尋找的一些其他跡象，我想，是下一個。第一批研究都是針對糖尿病患者。我們可以改進我們之前討論過的藥物分配嗎？

The next salvo of studies to mimic that is going to be in people with preexisting cardiovascular disease who've had an event in the past. Once again, it's an opportunity where risks can be high but not everyone has a high risk, and there's a wide armamentarium of effective pharmacologies available expanding out PCSK9 as well as the SGLT2 and GLP-1 for people with diabetes.

下一輪模仿這一情況的研究將針對既往患有心血管疾病且過去曾經歷過某種事件的人。再次強調，這是一個風險可能很高的機會，但並非每個人都有高風險，並且有大量有效的藥理學可供使用，可用於糖尿病患者的 PCSK9 以及 SGLT2 和 GLP-1。

So there's a nice availability of enhanced cardio protection. But again, there's the same problem about who do you allocate that more expensive pharmacology, too. So that will be the next group of tests after the people with diabetes.

因此，增強的心臟保護功能非常有用。但同樣，也存在同樣的問題，即您將更昂貴的藥物分配給誰。這將是繼糖尿病患者之後的下一組測試。

Okay. That's helpful. And then following up on the content discussion, just thinking on what's on deck for next year. You've got a couple of launches around kidney disease. You've got dementia, you've got COVID recovery. I think lung cancer susceptibility in Japan. Do any of these in your view, have kind of a disproportionate potential to move the needle? I guess, as we think over the next year, what's most interesting in terms of new launches?

好的。這很有幫助。然後跟進內容討論，思考明年的內容。你們已經推出了幾項有關腎臟疾病的產品。你得了癡呆症，你的新冠康復了。我認為日本的肺癌易感性。您認為這些中的任何一個是否具有巨大的推動作用的潛力？我想，正如我們對明年的看法，新產品發布方面最有趣的是什麼？

I think they all have the potential to move the needle. Again, because this type of diagnostic test has never existed before. The ability to tell a clinician or an individual that you have risk that you did not realize was present. And then to act on that risk in any of these disease areas, it's going to be impactful and something I can tell you as a clinician I would have loved to have had in the past.

我認為他們都有潛力推動改變。同樣，因為這種類型的診斷測試以前從未存在過。能夠告訴臨床醫生或個人您存在未意識到的風險。然後，針對任何這些疾病領域的風險採取行動，這將是有影響力的，我可以告訴你，作為一名臨床醫生，我希望在過去擁有這樣的機會。

So I don't know which is going to be most impactful. I certainly think if you think about cardiovascular metabolic disease and cancer, these are the 2 mortality drivers and cost drivers around the world for human beings. And so I believe that both of these could be very impactful moving forward from the standpoint of value creation.

所以我不知道哪個影響最大。我當然認為，如果你考慮心血管代謝疾病和癌症，它們是全世界人類的兩個死亡驅動因素和成本驅動因素。因此，我相信，從價值創造的角度來看，這兩者都可能非常有影響力。

Steve, just to add to that, I'd just say the wildcard for me is COVID recovery because you have a condition that has insulted kidneys, heart, lungs and we can measure the effects of all of those systems -- And so it's -- today, it's unknown to what extent we can characterize the residual damage, but we'll know that shortly. And I think of all the all the things that could go from 0 to 100 quickly, it may be that the COVID recovery is 1 such rather unpredictable application.

史蒂夫，補充一點，我只想說對我來說通配符是新冠病毒的康復，因為你的病情已經損害了腎臟、心臟、肺，我們可以測量所有這些系統的影響——所以它是—— - 今天，尚不清楚我們能在多大程度上描述殘餘損害的特徵，但我們很快就會知道。我認為所有可能從 0 快速上升到 100 的事情，新冠疫情的復甦可能就是這樣一個相當不可預測的應用程式。

And then, Roy, at the Analyst Day, you talked obviously about the evaluation of I know you're speaking the next 24, 36 months to kind of move forward with the box strategy. But can you just maybe share some insight in terms of how you're kind of evaluating that process and how much you're thinking about internal development versus partnering with OEMs?

然後，羅伊，在分析師日，您顯然談到了對我知道您正在談論未來 24、36 個月內推進盒子策略的評估。但您能否分享一些關於您如何評估流程的見解以及您對內部開發與與 OEM 合作的考慮程度？

Sure. Well, we certainly know that side of service solutions are going to be important moving forward. And so we are evaluating a variety of approaches, Tycho, and believe that the market will best be served if we can deploy a variety of approaches.

當然。嗯，我們當然知道服務解決方案的發展將會非常重要。因此，我們正在評估各種方法，第谷，並相信如果我們能夠部署各種方法，市場將得到最好的服務。

So as I mentioned earlier, next-generation arrays, NGS and even some newer approaches that we actually have in development. So on the NGS side, as we've said previously, we have been in discussions with potential partners for this to hopefully accelerate that development. And we continue to have those discussions, and we'll hopefully elaborate on the results of those discussions very soon.

正如我之前提到的，下一代陣列、NGS 甚至我們實際上正在開發的一些更新的方法。因此，在 NGS 方面，正如我們之前所說，我們一直在與潛在合作夥伴進行討論，希望能加速這一發展。我們將繼續進行這些討論，希望很快就能詳細說明這些討論的結果。

And then the other thing, as I've mentioned before in previous releases, this concept of the things that we're interested in from an M&A standpoint. We certainly are interested in next-generation proteomics measurement platforms, especially those where we can use our reagents, our proprietary synthetic aptamers. And -- so that's an area of focus for us for M&A, and we're actively in discussions and looking there, as we previously mentioned, and hopefully be able to talk about that relatively soon as well. So hopefully, more details on all of that in the near future, Tycho.

然後另一件事，正如我之前在之前的版本中提到的，從併購的角度來看，我們感興趣的事物的概念。我們當然對下一代蛋白質體學測量平台感興趣，特別是那些我們可以使用我們的試劑、我們專有的合成適體的平台。而且 - 所以這是我們併購的重點領域，正如我們之前提到的，我們正在積極討論和尋找那裡，並希望也能夠相對較快地討論這個問題。所以希望在不久的將來能提供更多關於這一切的細節，第谷。

Great. And then one quick one for Shaun, before I hop off. Just on share count. Given all moving pieces, what's the right share count we should be using going forward?

偉大的。然後在我下車之前給肖恩快速講一講。僅按份額計算。考慮到所有的變化，我們未來應該使用的正確份額是多少？

Shaun, go ahead.

肖恩，繼續吧。

So that would be approximately 182 million, I believe, maybe.

我認為，這個數字可能約為 1.82 億。

And that concludes the question-and-answer session of today's call. I'll hand the call back to Roy Smythe.

今天電話會議的問答環節到此結束。我會把電話轉給羅伊史密斯。

Great. So we really appreciate everybody being with us today for us to share again some information and recent progress at SomaLogic. We are both excited and grateful for our recent accomplishments and also very excited for what the future holds for this company and its unique capabilities and unique position in the market.

偉大的。因此，我們非常感謝今天大家與我們在一起，讓我們再次分享 SomaLogic 的一些資訊和最新進展。我們對最近的成就感到興奮和感激，也對這家公司的未來及其獨特的能力和在市場中的獨特地位感到非常興奮。

We hope to see all of you or at least some of you relatively soon and in person would be great, perhaps in San Francisco or elsewhere. So thanks very much.

我們希望很快就能見到你們所有人，或者至少是你們中的一些人，如果能親自見面那就太好了，也許是在舊金山或其他地方。非常感謝。

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.

女士們、先生們，今天的電話會議到此結束。感謝您的參與。您現在可以斷開連線。