GRAIL, Inc.

Good day, ladies and gentlemen, and welcome to the Grail fourth quarter 2024 earnings call. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. Please be advised that this conference call is being recorded. Grail Investor Relations, please begin.

Thank you, and thank you all for joining us today. On the call are Bob Ragusa, our Chief Executive Officer, Ayrton Frieden, our Chief Financial Officer, Dr. Joshua Offman, our President, and Sirharpur Kumar, our President, International Business and Biopharma. Before we get underway, I'd like to remind everyone that we'll be making forward-looking statements on this call based on current expectations. It's our intent that all statements, other than the statements of historical fact made during today's call, including statements regarding our anticipated financial results and commercial activity, will be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 as amended and Section 21 of the Securities Exchange Act of 1934 as amended. Forward-looking statements are subject to risks and uncertainties. Actual events or results may differ materially from those projected or discussed. All forward-looking statements are based upon currently available information and GRAIL assumes no obligation to update these statements. To better understand the risks and uncertainties that could cause actual results to differ, we refer you to the documents that GRAIL files with the SEC, including the Risk Factor section in GRAIL's most recent quarterly report on Form 10-Q and the company's upcoming annual report on Form 10-K. This call will also include a discussion of gap results and certain non-gap financial measures, including adjusted gross profit and adjusted EBITDA, which are adjusted to exclude certain specified items, including accounting impacts related to Illumina's acquisition of Grail. Our non-gap financial measures are intended to supplement your understanding of Grail's financials. Reconciliations of the non-gap measures to most directly comparable gap financial measures are available in the press release issued today, which is posted to our website. And with that, I'll turn the call to Bob.

Good afternoon, everyone, and thank you for joining us to review results for the fourth quarter and full year 2024. 2024 was a transformative year for Grail as we separated from Illumina and began publicly trading in June. In July, we completed final study visits for our two registrational studies, the NHS Gallery Study and Pathfinder 2. In the third and fourth quarters, we implemented a significant restructure intended to extend our capital runway past some major anticipated milestones, including the completion of our modular PMA submission for FDA approval of Gallery. In addition, we grew U.S. Gallery revenue 45% year-over-year, selling more than 137,000 Gallery tests. We are pleased with Gallery's commercial momentum and are excited to progress initiatives to make it easier for physicians to order the test, including our recent integration into Quest Diagnostics' test ordering system. This integration enables easy ordering for more than 500,000 physicians and allows patients to access the Gallery test at 7,400 Quest locations nationwide without needing to bring along a test kit. To discuss some additional recent highlights, I'll hand it over to Grail's president, Dr. Josh Hoffman.