Personalis Secures Medicare Coverage for NeXT Personal MRD Test, Positioning for Growth in Underpenetrated $20 Billion MarketWe note that in a recent study published in the Personal detected 100% of the patients who had breast cancer recurrence (median ~15 months ahead of standard-of-care radiographic imaging), and patients who tested and remained negative with NeXT Personal remained disease-free, highlighting the test's strong sensitivity. This marks the first Medicare-covered MRD indication for NeXT Personal and we view this as a first step toward broader MRD coverage. We note that PSNL has also submitted for Medicare reimbursement in immunotherapy monitoring and lung cancer, and management expects one additional positive Medicare coverage decision before year-end. With Medicare breast cancer coverage in place, we expect PSNL's clinical testing revenue to begin to ramp, and we expect this to reduce its cash burn.