Dante Genomics

– Dante to utilize Amazon Bedrock to build state-of-the-art large language model (LLM) with broad genomic and clinical applications – – Amazon Bedrock will leverage Dante's expertise with clinical interpretation and massive whole genome database – – Groundbreaking collaboration pioneering the use case for LLMs in personalized medicine, enabling extraction of phenotypes of interest to identify feasible and related genetic conditions – NEW YORK, Sept. 20, 2023 /PRNewswire/ -- Dante Genomics, a global leader in genomics and precision medicine, today announced a strategic AI collaboration with Amazon Web Services (AWS) to bring generative AI to the clinical care of patients with genomic diseases. Dante Genomics' early focus on whole genome sequencing provides the company with a natural competitive advantage to build large language models (LLMs) for clinical genomics. Each genome has 10,000 times more data than a traditional genetic panel and more than 20 times more data than whole exome sequencing. "While companies were debating whether the exome was too much data, we were laser focused on whole genome sequencing," said Mattia Capulli, PhD, Co-founder and Chief Scientific Officer of Dante Genomics. "It was not easy, but the dedicated time and strategic investments are paying off, giving us an amazing source of data to advance LLMs for clinical genomics." Dante Genomics utilizes the large language model (LLM) Amazon Bedrock on the AWS platform to enable Dante customers to better access and navigate its broad and growing collection of more than 130 genomic reports with genomic applications across clinical areas, including proactive screening, longevity and personalized medicine. "For more than seven years, Dante Genomics has been steadfast in its mission to deliver whole genome sequencing at scale, and with an ever-growing database, we are unmatched in our expertise in the clinical utility of the genome," said Andrea Riposati, Co-founder and CEO of Dante Genomics. "By partnering with the tech experts at AWS, Amazon Bedrock as a platform will help us make great strides in revolutionizing the everyday application of genomic data in personalized medicine, delivering better health outcomes with genomic data as a foundation." In this collaboration, Dante Genomics aims to allow a subset of phenotypes such as eye color, ancestry and monogenic disorders, such as cardiomyopathies, respiratory conditions and seizures, to be explored using a chat-style interface. This is a groundbreaking use case for LLMs in genomic medicine based on extensive research into training honest and responsible AI systems. The system will relay the outcome of genetic inference to the patient, allow the patient to easily distinguish comorbidities and request additional information, and accurately identify when a physician's involvement is necessary. About Dante Genomics Dante Genomics is a global genomic information company building and commercializing a new class of transformative health and longevity applications based on whole genome sequencing and software. The Company uses its platform to deliver better patient outcomes, prevention, enhanced diagnostics and personalized medicine. The Company's assets include one of the largest private genome databases with research consent, proprietary software designed to unleash the power of genomic data at scale and proprietary processes which enable an industrial approach to genomic sequencing. Contact: Laura D'Angelo VP of Investor Relations [email protected] +39 0862 191 0671 SOURCE Dante Genomics

Revenue of $20.5 million, an increase of 45% year-over-year Cash and investments of approximately $474 million, a strong capital position to fund current and future business initiatives Reiterating full year 2023 revenue guidance and operating expense target Management to host conference call today at 4:30pm ET BOULDER, Colo., Aug. 14, 2023 (GLOBE NEWSWIRE) -- SomaLogic, Inc., a leader in proteomics technology, today reported financial results for the quarter ended June 30, 2023. “Our second quarter results are in line with our expectations despite navigating operational changes and a dynamic macroeconomic backdrop. While our progress this quarter in both core assay services and distributed kits is encouraging, there is still more work to be done,” said Adam Taich, SomaLogic’s Interim Chief Executive Officer. “We have the benefit of a strong cash position, yet remain fully committed to spending discipline and continued operational rationalization to maximize SomaLogic’s long-term position in a growing proteomics market.” Recent Updates Expanded distributed kits offering with additional Authorized Sites, including Citogen and Dante Genomics in Europe Advanced development and manufacturing work to support 10k SomaScan assay launch by year-end 2023 Continued collaboration with Illumina ahead of co-branded next-generation sequencing (NGS)-based proteomics kit early access launch in 2024 Appointed Eliot Lurier, CPA, to Interim Chief Financial Officer Second Quarter 2023 Financial Results Revenue for the three months ended June 30, 2023 was $20.5 million, a 45% increase from $14.1 million in the corresponding period of 2022. Excluding Q2 2022 royalty revenue from NEB, revenue grew 55%. Gross margin for the three months ended June 30, 2023 was 45.4% compared to 50.0% for the corresponding period of 2022. The decrease was driven by lower royalty revenue. Research and development expenses decreased by $6.8 million, and selling, general and administrative expenses decreased by $7.2 million in the three months ended June 30, 2023, compared to the corresponding period of 2022. The decrease aligns with the Company’s previously announced expense reduction initiatives with an operating expense target of approximately $170 million for full-year 2023. Net loss was $24.8 million for the three months ended June 30, 2023, or a loss of $0.13 per share, as compared to a loss of $23.0 million, or $0.13 per share, in the corresponding period of 2022. Adjusted EBITDA was a loss of $28.9 million for the three months ended June 30, 2023, compared with an adjusted EBITDA loss of $46.4 million in the corresponding period of 2022. Cash, cash equivalents, and short-term investments were $474.2 million as of June 30, 2023. 2023 Financial Guidance SomaLogic expects revenue for the full year 2023 to range from $80 to $84 million. Webcast and Conference Call Details SomaLogic will host a conference call at 4:30 p.m. ET on Monday, August 14, 2023 to discuss its second quarter 2023 financial results. Those interested in listening to the conference call should register online here. Participants are encouraged to register more than 15 minutes before the start of the call. A live and archived version of the webcast will be available at About SomaLogic SomaLogic is catalyzing drug research and development and biomarker identification as a global leader in proteomics technology. With a single 55 microliter plasma or serum sample, SomaLogic can run 7,000 protein measurements, covering more than a third of the approximately 20,000 proteins in the human body and twice as many as other proteomic platforms. For more than 20 years we’ve supported pharmaceutical companies, and academic and contract research organizations who rely on our protein detection and analysis technologies to fuel drug, disease, and treatment discoveries in such areas as oncology, diabetes, and cardiovascular, liver and metabolic diseases. Find out more at and follow @somalogic on LinkedIn. Non-GAAP Financial Measures We present non-GAAP financial measures in order to assist readers of our condensed consolidated financial statements in understanding the core operating results used by management to evaluate and run the business, as well as, for financial planning purposes. Our non-GAAP financial measure, Adjusted EBITDA, provides an additional tool for investors to use in comparing our financial performance over multiple periods. Adjusted EBITDA is a key performance measure that our management uses to assess its operating performance. Adjusted EBITDA facilitates internal comparisons of our operating performance on a more consistent basis, and we use this measure for business planning, forecasting, and decision-making. We believe that Adjusted EBITDA enhances an investor’s understanding of our financial performance as it is useful in assessing our operating performance from period-to-period by excluding certain items that we believe are not representative of our core business. Our Adjusted EBITDA may not be comparable to similarly titled measures of other companies because they may not calculate this measure in the same manner. Adjusted EBITDA is not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. When evaluating our performance, you should consider Adjusted EBITDA alongside other financial performance measures prepared in accordance with GAAP, including net loss. Forward Looking Statements Disclaimer This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position, estimated revenues, projections, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “forecast,” “guidance,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “continue,” “will likely result,” “possible,” “potential,” “predict,” “pursue,” “target” and similar expressions, although not all forward-looking statements contain such identifying words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including factors which are beyond SomaLogic’s control. You should carefully consider these risks and uncertainties, including, but not limited to, those factors described under Part I, Item 1A – “Risk Factors” in our Annual Report on Form 10-K and other filings we make with the Securities and Exchange Commission. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SomaLogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. The Company will not and does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. SomaLogic Contact Emilia Costales 720-798-5054 ecostales@somalogic.com Investor Contact Marissa Bych Gilmartin Group LLC investors@somalogic.com SomaLogic, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss Unaudited (in thousands, except share data) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenue Assay services revenue $ 16,597 $ 10,931 $ 35,016 $ 29,731 Product revenue 2,909 714 4,095 1,167 Collaboration revenue 762 762 1,525 1,525 Other revenue 200 1,737 211 4,701 Total revenue 20,468 14,144 40,847 37,124 Operating expenses Cost of assay services revenue 9,677 6,571 21,359 17,951 Cost of product revenue 1,498 506 2,132 778 Research and development 10,815 17,636 24,882 31,436 Selling, general and administrative 29,573 36,812 63,762 67,627 Total operating expenses 51,563 61,525 112,135 117,792 Loss from operations (31,095 ) (47,381 ) (71,288 ) (80,668 ) Other income Interest income and other, net 5,798 838 10,723 1,047 Change in fair value of warrant liabilities 527 14,536 1,580 27,176 Change in fair value of earn-out liability — 9,027 15 25,489 Total other income 6,325 24,401 12,318 53,712 Net loss before income tax benefit (provision) $ (24,770 ) $ (22,980 ) $ (58,970 ) $ (26,956 ) Income tax benefit (provision) (2 ) (5 ) (4 ) (8 ) Net loss (24,772 ) (22,985 ) (58,974 ) (26,964 ) Other comprehensive income (loss) Net unrealized gain (loss) on available-for-sale securities 177 (209 ) 528 (861 ) Foreign currency translation loss 4 (11 ) 2 (14 ) Total other comprehensive income (loss) $ 181 $ (220 ) $ 530 $ (875 ) Comprehensive loss (24,591 ) (23,205 ) (58,444 ) (27,839 ) Net loss per share, basic and diluted $ (0.13 ) $ (0.13 ) $ (0.32 ) $ (0.15 ) Weighted-average shares used to compute net loss per share, basic and diluted 186,741,112 183,143,391 186,633,391 182,599,949 SomaLogic, Inc. Condensed Consolidated Balance Sheets Unaudited (in thousands, except share data) June 30, 2023 December 31, 2022 ASSETS Current assets Cash and cash equivalents $ 354,544 $ 421,830 Investments 119,646 117,758 Accounts receivable, net 21,750 17,006 Inventory 15,123 13,897 Deferred costs of services 440 1,337 Prepaid expenses and other current assets 4,760 9,873 Total current assets 516,263 581,701 Non-current inventory 10,296 4,643 Accounts receivable, net of current portion 9,041 9,284 Property and equipment, net 18,668 19,564 Other long-term assets 4,379 5,083 Intangible assets 16,700 16,700 Goodwill 10,399 10,399 Total assets $ 585,746 $ 647,374 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ 13,079 $ 16,794 Accrued liabilities 10,926 20,678 Deferred revenue 5,083 3,383 Other current liabilities 2,413 2,477 Total current liabilities 31,501 43,332 Warrant liabilities 2,633 4,213 Deferred revenue, net of current portion 31,207 31,732 Other long-term liabilities 5,253 5,539 Total liabilities 70,594 84,816 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding at June 30, 2023 and December 31, 2022 — — Common stock, $0.0001 par value; 600,000,000 shares authorized; 188,071,445 and 187,647,973 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 19 19 Additional paid-in capital 1,182,645 1,171,122 Accumulated other comprehensive income (loss) 17 (513 ) Accumulated deficit (667,529 ) (608,070 ) Total stockholders’ equity 515,152 562,558 Total liabilities and stockholders’ equity $ 585,746 $ 647,374 SomaLogic, Inc. Reconciliation of net loss in accordance with GAAP to non-GAAP adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2023 2022 2023 2022 Net loss $ (24,772 ) $ (22,985 ) $ (58,974 ) $ (26,964 ) Adjustments to reconcile to EBITDA: Interest income and other, net (5,798 ) (838 ) (10,723 ) (1,047 ) Income tax provision 2 5 4 8 Depreciation and amortization 1,890 963 3,644 1,718 EBITDA (28,678 ) (22,855 ) (66,049 ) (26,285 ) Adjustments to reconcile to Adjusted EBITDA: Change in fair value of warrant liabilities (1) (527 ) (14,536 ) (1,580 ) (27,176 ) Change in fair value of earn-out liability (2) — (9,027 ) (15 ) (25,489 ) Stock compensation expense related to equity modifications (3) 272 — 1,224 — Restructuring charges (4) 59 — 1,100 — Adjusted EBITDA $ (28,874 ) $ (46,418 ) $ (65,320 ) $ (78,950 ) (1) Represents change in fair value of warrant liabilities. (2) Represents change in fair value of earn-out liability. (3) Represents stock-based compensation expense related to equity award modifications that occurred separately from our Strategic Reorganization. (4) Represents restructuring charges related to the Strategic Reorganization consisting of severance costs, other termination benefit costs, and non-cash stock-based compensation expense.

– New offering will give patients and their families the definitive diagnoses needed and allow them to move forward with a better understanding of their condition – NEW YORK, June 5, 2023 /PRNewswire/ -- Dante Genomics, a global leader in genomics and precision medicine, today announced the launch of its Rare Disease Health Package to revolutionize rare disease diagnosis with whole genome sequencing testing. The Rare Disease Health Package includes pre- and post-telemedicine consultations with specialist doctors, providing access to specialists who may not be available in a patient's area. Dante removes financial barriers to care by identifying potential treatments and management strategies for rare diseases. The package also prioritizes privacy and security, with a commitment to not selling genomic and personal information and to remain in compliance with all GDPR and HIPAA regulations. The 30X coverage, clinical-grade WGS used in the package ensures high accuracy and confidence in the results that are critical in identifying variants that may be causative of rare diseases or other conditions. To learn more about Dante's Rare Disease Health Package, visit dantelabs.com. Rare diseases are a diverse group of over 8,000 distinct conditions with the majority having a genetic origin, and it is estimated there are 400 million people living with rare disease globally. With rare diseases in particular, early diagnosis is crucial for optimal treatment, care and genetic counseling regarding prognosis and recurrence risk. Recent advances in genetic testing, such as whole genome sequencing (WGS), have significantly increased the likelihood of receiving genetic diagnosis for patients with rare diseases. "For those people living with a rare disease, an accurate diagnosis is invaluable and the first step in the treatment and management of their condition, and whole genome sequencing is the only solution to deliver the diagnoses these patients are in desperate need of," said Andrea Riposati, Co-founder and CEO of Dante Genomics." This approach can save time and money, identify potential treatments and management strategies, and provide closure for patients and their families who are struggling with what can be years long diagnostic odysseys." About Dante Genomics Dante Genomics is a global genomic information company building and commercializing a new class of transformative health and longevity applications based on whole genome sequencing and software. The Company uses its platform to deliver better patient outcomes, prevention, enhanced diagnostics and personalized medicine. The Company's assets include one of the largest private genome databases with research consent, proprietary software designed to unleash the power of genomic data at scale and proprietary processes which enable an industrial approach to genomic sequencing. Contact: Laura D'Angelo VP of Investor Relations [email protected] +39 0862 191 0671 SOURCE Dante Genomics