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    Sung Ji Nam

    Managing Director and Senior Equity Research Analyst at Scotiabank

    Sung Ji Nam is a Managing Director and Senior Equity Research Analyst at Scotiabank, specializing in life science tools and diagnostics with coverage of companies like Danaher, Illumina, Veracyte, Twist Bioscience, CareDx, Guardant Health, and Waters Corporation. Known for a transparent and differentiated research approach, Nam has delivered a 46% success rate and an average return of approximately -4.7% on rated stocks, with notable calls including a 139% return on Illumina and an upgrade of Danaher targeting significant upside. Nam began their career in equity research over a decade ago, joining Scotiabank after prior analyst roles at other leading firms. Registered with relevant professional credentials and securities licenses, Nam is recognized for analytical depth in the life sciences and diagnostics sector.

    Sung Ji Nam's questions to MYRIAD GENETICS (MYGN) leadership

    Sung Ji Nam's questions to MYRIAD GENETICS (MYGN) leadership • Q2 2025

    Question

    Sung Ji Nam from Scotiabank inquired whether the company's goal of achieving above-market growth would primarily come from taking market share from competitors or by more effectively penetrating underserved market segments, questioning the feasibility of share gains in a competitive landscape.

    Answer

    President and CEO Sam Raha stated the answer is 'both.' He explained that growth will be driven by participating in large, high-growth markets, but the company intends to outperform the market by winning accounts. This will be achieved through a combination of compelling, integrated test offerings, unified reporting that simplifies clinical decisions, and specific product differentiation, such as the ultra-sensitive MRD assay. He also noted that the new Chief Commercial Officer would bring 'stepped up commercial execution'.

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    Sung Ji Nam's questions to MYRIAD GENETICS (MYGN) leadership • Q1 2025

    Question

    Sung Ji Nam of Scotiabank inquired about the primary misperceptions among clinicians regarding the NCCN guidelines for Prolaris. She also asked how the new partnership with Pathomx is resonating with the customer base.

    Answer

    COO Mark Verratti explained that the main point of confusion was the NCCN's mention of 'level 1 evidence' for prostate cancer, a standard not applied to its other 66 cancer guidelines, and that Myriad spent Q1 clarifying this with providers. CEO Samraat Raha added that the Pathomx partnership has been well-received, as it reaffirms Myriad's commitment to prostate cancer and builds anticipation for a novel AI-biomarker test.

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    Sung Ji Nam's questions to MYRIAD GENETICS (MYGN) leadership • Q4 2024

    Question

    Sung Ji Nam asked why PATHOMIQ was chosen as the right partner for AI-enabled testing, what differentiates its technology, and whether the resulting multimodal testing approach is unique.

    Answer

    CEO Paul Diaz explained that PATHOMIQ was selected for its deep expertise and established KOL relationships in prostate cancer, a strong and compatible technology platform validated through prior pilots, and its ability to use foundational H&E staining. He emphasized that combining PATHOMIQ's AI with Myriad's commercial channel creates a powerful, unique solution and represents a strategy to accelerate growth through select, deep partnerships.

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    Sung Ji Nam's questions to MYRIAD GENETICS (MYGN) leadership • Q3 2024

    Question

    Sung Ji Nam from Scotiabank asked for specifics on what additional data UnitedHealthcare is looking for, the potential timeline for a resolution, and whether the UnitedHealth portion of the GeneSight business had been growing at a similar rate to the rest of the business.

    Answer

    President and CEO Paul Diaz admitted they are not clear on what's missing for UnitedHealth but plan to present additional data and stakeholder input. The best-case scenario is a pause on the January 1 effective date. Chief Commercial Officer Mark Verratti confirmed that the United business had been growing at a very similar rate, perhaps slightly more, than the rest of the GeneSight business.

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    Sung Ji Nam's questions to CASTLE BIOSCIENCES (CSTL) leadership

    Sung Ji Nam's questions to CASTLE BIOSCIENCES (CSTL) leadership • Q2 2025

    Question

    Sung Ji Nam from Scotiabank inquired about progress with private payers for DecisionDx-Melanoma, especially given the recent NCI SEER study, and asked about potential collaboration with Sybase on its melanoma product.

    Answer

    CFO Frank Stokes described ongoing resistance from commercial payers as being driven by 'self-interest' despite overwhelming clinical data and physician adoption. Founder, CEO, & President Derek Maetzold clarified the current Sybase collaboration is focused on a new portable device for atopic dermatitis, not their existing melanoma test, though future collaboration is possible.

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    Sung Ji Nam's questions to CASTLE BIOSCIENCES (CSTL) leadership • Q1 2025

    Question

    Sung Ji Nam from Guggenheim Partners inquired about the specifics of the mid-70% gross margin guidance and details on the newly acquired Previse, including its technology platform and near-term revenue potential.

    Answer

    CFO Frank Stokes clarified the guidance is for adjusted gross margin and accounts for the loss of DecisionDx-SCC reimbursement. CEO Derek Maetzold explained Previse offers a tissue-based methylation test and a non-endoscopic sponge technology, with Frank Stokes adding that meaningful revenue impact is expected to be downstream, not in the current year.

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    Sung Ji Nam's questions to CASTLE BIOSCIENCES (CSTL) leadership • Q4 2024

    Question

    Sung Ji Nam asked about the size of the New York State addressable market for TissueCypher and questioned what the commercial strategy for DecisionDx-SCC would be if Medicare reimbursement is lost.

    Answer

    CEO Derek Maetzold stated he did not have a precise figure for the New York market for TissueCypher but assumed it would be proportional to the state's share of the U.S. population. On DecisionDx-SCC, he conveyed that losing Medicare coverage would be disappointing for patient care but indicated the company would likely continue offering the test in the short term, especially if a reasonable path to regaining coverage exists, balancing patient needs with shareholder impact.

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    Sung Ji Nam's questions to WATERS CORP /DE/ (WAT) leadership

    Sung Ji Nam's questions to WATERS CORP /DE/ (WAT) leadership • Q2 2025

    Question

    Sung Ji Nam from Scotiabank asked about the performance of Waters' drug discovery business to gauge broader biotech spending trends. She also inquired about the potential impact of tariffs on the generics business in India and the company's outlook for that market.

    Answer

    SVP & CFO Amol Chaubal stated that the market situation is unchanged, with the drug discovery segment (5% of pharma revenue) and biotechs remaining slow, while large pharma and CDMOs show healthy replacement activity. President and CEO Dr. Udit Batra added that regarding India, customers are not seeing any tariff impact and are ramping up capacity for generics opportunities, expressing confidence that the generics industry is unlikely to be a primary tariff target.

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    Sung Ji Nam's questions to WATERS CORP /DE/ (WAT) leadership • Q2 2025

    Question

    Sung Ji Nam of Scotiabank asked about the performance and outlook for Waters' drug discovery business within the pharma end market. She also questioned the potential impact of tariffs on the company's business with generics customers in India.

    Answer

    SVP & CFO Amol Chaubal stated that the pharma drug discovery market remains slow, with no replacement cycle kicking in for that segment or biotechs. In contrast, large pharma and CDMOs remain healthy. Regarding India, both Mr. Chaubal and CEO Dr. Udit Batra confirmed that funnel activity is very strong and customers are ramping up capacity, with no fear of tariff impacts. They believe the generics industry is crucial for lowering U.S. healthcare costs and is unlikely to be targeted.

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    Sung Ji Nam's questions to WATERS CORP /DE/ (WAT) leadership • Q1 2025

    Question

    Sung Ji Nam of Scotiabank asked for details on Waters' exposure to the U.S. Academic & Government market, what the company is seeing on the ground, and if any future opportunities exist despite proposed structural changes.

    Answer

    CEO Udit Batra stated that the U.S. A&G segment is small, at roughly 3% of revenue, and started the year with double-digit growth driven by PFAS testing. However, CFO Amol Chaubal explained that for prudence, the company has assumed a significant 20% decline for this segment for the rest of the year in its updated guidance.

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    Sung Ji Nam's questions to Bionano Genomics (BNGO) leadership

    Sung Ji Nam's questions to Bionano Genomics (BNGO) leadership • Q1 2025

    Question

    Sung Ji Nam inquired about the significance of the recent MD Anderson study for customer adoption, the sustainability of improved gross margins, and the impact of the global trade situation on Bionano's operations and guidance.

    Answer

    CEO Robert Holmlin explained that MD Anderson is a key customer whose progression from research to routine use serves as a model for other labs and helps drive inclusion in medical guidelines. He stated that gross margins in the mid-40% range are expected to be stable for the remainder of the year. Regarding global trade, Holmlin noted that while the company has some international supply chain exposure, the more immediate impact has been customer uncertainty over tariffs, which prompted a more conservative full-year revenue forecast.

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    Sung Ji Nam's questions to Bionano Genomics (BNGO) leadership • Q4 2024

    Question

    Sung Ji Nam of Scotiabank inquired about the core revenue growth implied in Bionano's 2025 guidance, the dynamics of Saphyr trade-ins versus new Stratys placements, and the early feedback on the Stratys compute system's role in driving utilization.

    Answer

    CEO Erik Holmlin clarified that the 2025 guidance of $29 million to $32 million is entirely core revenue. He explained a strategic shift away from focusing on the total installed base number and toward the 118 'routine use' customers, who account for 80% of consumable sales. Dr. Holmlin also noted that feedback on the Stratys compute is positive and that ongoing software updates are expected to create a virtuous cycle of increased speed and higher sample throughput.

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    Sung Ji Nam's questions to Bionano Genomics (BNGO) leadership • Q3 2024

    Question

    Sung Ji Nam inquired about the commercial launch status of the Ionic Sample Prep system, the growth potential within the 150 targeted high-volume customers, and the primary levers for improving cost of goods sold (COGS).

    Answer

    CEO Erik Holmlin clarified that the full commercial rollout for the Ionic system is now expected in 2025, not late 2024. He explained that the 150 target customers, who already account for about 80% of consumable revenue, offer significant growth potential as they adopt additional testing indications. Regarding COGS, Dr. Holmlin stated that margin improvement will be driven by both transitioning to lower-cost foundry partners for chip production and improved overhead absorption as sales volume increases.

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    Sung Ji Nam's questions to BIODESIX (BDSX) leadership

    Sung Ji Nam's questions to BIODESIX (BDSX) leadership • Q1 2025

    Question

    Sung Ji Nam questioned if the ramp-up time for new primary care reps would be longer than for pulmonary reps, the source of confidence in future hiring efficiency, the potential impact of pharma sector tariffs on the Development Services business, and the expected contribution of that segment to full-year revenue guidance.

    Answer

    CEO Scott Hutton stated that based on pilot program findings, the company expects the ramp-up and efficiency for primary care reps to be very consistent with their experience with pulmonology reps, as the training program is similar. He also reported no current impact from tariffs on the Development Services business and confirmed that this segment is expected to consistently contribute about 10% of total revenue, in line with historical performance.

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    Sung Ji Nam's questions to BIODESIX (BDSX) leadership • Q4 2024

    Question

    Sung Ji Nam from Scotiabank asked about the company's progress in rightsizing its commercial structure, inquiring what 'inning' they are in with the plan to reach 95 reps in 50 territories. She also asked about Biodesix's current AI capabilities and how they might be leveraged for future product differentiation.

    Answer

    CEO Scott Hutton stated that the territory alignment plan is in the 'eighth to ninth inning,' indicating it is well-established. The implementation of the new sales model, incorporating learnings from the 2024 pilot, is now underway, with about 60% of new hires in 2025 focusing on the primary care call point. Regarding AI, Hutton confirmed Biodesix has a long history of using AI and machine learning in test discovery and development. He emphasized its importance for improving the existing portfolio and fueling the pipeline, with more specific updates to come as the company progresses through 2025.

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    Sung Ji Nam's questions to BIODESIX (BDSX) leadership • Q3 2024

    Question

    Sung Ji Nam of Scotiabank asked for clarification on the record-high revenue per test, questioning if it included one-time collections, and sought more detail on the new ClariPhy study, particularly regarding the underrepresented populations and clinical characteristics being examined.

    Answer

    Executive Robin Cowie confirmed the strong revenue per test was driven by recent reimbursement wins and did not include any unusual prior-period collections. Executive Scott Hutton elaborated on the ClariPhy study, explaining it will analyze real-world data to assess Nodify's performance alongside PET scans and within diverse patient subgroups based on race and ethnicity, providing key outcomes data more rapidly than prospective trials.

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    Sung Ji Nam's questions to Quanterix (QTRX) leadership

    Sung Ji Nam's questions to Quanterix (QTRX) leadership • Q1 2025

    Question

    Sung Ji Nam inquired about the performance advantages of using the dedicated Simoa ONE platform versus other flow cytometers with Simoa assays, the specific drivers for the slowdown in the Accelerator lab pipeline, and the company's supply chain exposure to tariffs.

    Answer

    CEO Masoud Toloue clarified that the fully integrated Simoa ONE platform will offer the best performance specifications compared to using the assays on other systems. Regarding the Accelerator lab, he noted that while customer stickiness and diversity are strong, broader pharma spending dynamics are causing some larger projects to be pushed out. CFO Vandana Sriram detailed that tariff exposure is primarily on certain antibodies and that countermeasures have limited the expected margin impact to 50-100 basis points, with a potential 100 basis point impact on growth from reciprocal tariffs also factored in.

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    Sung Ji Nam's questions to Quanterix (QTRX) leadership • Q4 2024

    Question

    Sung Ji Nam asked if the new Simoa 1 platform is expected to be adopted by existing users, potentially triggering a replacement cycle, or if it targets new customers. She also inquired about the growth assumptions for ex-U.S. markets and asked for clarification on whether the 'paralysis' in the U.S. academic market is based on direct customer feedback or broader macro assumptions.

    Answer

    President and CEO Masoud Toloue clarified that Simoa 1 is designed to expand the company's addressable market into immunology and oncology by offering higher plex capabilities, targeting new customers rather than replacing the existing neurology-focused installed base. CFO Vandana Sriram projected low-double-digit to high-single-digit growth for ex-U.S. markets. Masoud Toloue confirmed that the view of academic market 'paralysis' is based on direct feedback and observations of confusion among customers regarding budgets, hiring, and capital purchases, which he believes is a transient issue.

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    Sung Ji Nam's questions to Quanterix (QTRX) leadership • Q3 2024

    Question

    Sung Ji Nam from Scotiabank asked for a framework for 2025 diagnostics revenue and sought clarification on the advantages of the LucentAD Complete multi-marker panel versus single-marker tests, including the future role of the BD-Tau assay.

    Answer

    President and CEO Masoud Toloue explained that the 2025 diagnostics ramp is directly linked to the uptake of Alzheimer's therapies like LEQEMBI. He detailed that the LucentAD Complete five-marker test reduces the 'intermediate zone' threefold compared to single-marker tests, providing more definitive results for patients. He positioned BD-Tau as a key research marker for staging tau pathology, with future diagnostic potential.

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    Sung Ji Nam's questions to VERACYTE (VCYT) leadership

    Sung Ji Nam's questions to VERACYTE (VCYT) leadership • Q1 2025

    Question

    Sung Ji Nam asked if the UMBRELLA study would be sufficient for Medicare reimbursement for new MRD indications and requested clarification on the 'timing of project spend' that influenced the updated EBITDA guidance.

    Answer

    CEO Marc Stapley stated that the UMBRELLA study is designed to be sufficiently powered to support positive Medicare coverage decisions for the indications studied. CFO Rebecca Chambers explained that the 'project spend' refers to R&D expenses anticipated in Q1 that were shifted to later in the year, and the guidance update reflects this timing adjustment against Q1's outperformance.

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    Sung Ji Nam's questions to VERACYTE (VCYT) leadership • Q4 2024

    Question

    Corey Rosenbaum, on behalf of Sung Ji Nam at Scotiabank, asked if the prognostic Decipher Bladder test and the new MRD test are viewed as distinct products and whether the MRD test's sensitivity could make it viable for non-muscle invasive bladder cancer.

    Answer

    CEO Marc Stapley confirmed the prognostic and MRD tests are distinct, with the MRD test for muscle invasive bladder cancer being the current priority. He acknowledged the platform's sensitivity could potentially apply to non-muscle invasive cases but stated that is not an immediate focus, as larger opportunities exist in other cancer types where Veracyte has an established commercial channel.

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    Sung Ji Nam's questions to VERACYTE (VCYT) leadership • Q3 2024

    Question

    Sung Ji Nam of Scotiabank questioned if further guideline inclusion is needed for Decipher's metastatic growth, the potential for it to become a companion diagnostic based on the STAMPEDE trial, and the trial's relevance in the U.S. She also asked about any hurricane-related business impact.

    Answer

    CEO Marc Stapley explained that while guidelines are not necessary to start, they are key for driving broad, long-term adoption, and studies like STAMPEDE support this effort. He noted the potential for Decipher to guide treatment, whether as a formal CDx or not, and affirmed that global studies like STAMPEDE are relevant in the U.S. CFO Rebecca Chambers added that any hurricane impact was minimal, equating to less than a day of volume.

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    Sung Ji Nam's questions to BIO-TECHNE (TECH) leadership

    Sung Ji Nam's questions to BIO-TECHNE (TECH) leadership • Q3 2025

    Question

    Sung Ji Nam of Scotiabank asked about Bio-Techne's positioning amidst potential pharma tariffs that could shift spending to U.S. manufacturing, and also inquired about the Spatial Biology business's international growth and competitive standing.

    Answer

    CFO Jim Hippel acknowledged that pharma tariff uncertainty contributed to the conservative Q4 guide but noted that pharma companies are well-capitalized and have already undergone pipeline realignments. CEO Kim Kelderman added that Bio-Techne's portfolio is diversified across the entire drug development workflow, mitigating risk from spending shifts. Regarding Spatial Biology, he highlighted the platform's unique, fully automated multi-omic capabilities as a key competitive advantage.

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    Sung Ji Nam's questions to BIO-TECHNE (TECH) leadership • Q1 2025

    Question

    Sung Ji Nam of Scotiabank asked for details on which product segments drove growth in the academic end market and requested an update on partnership opportunities for the Exosome Diagnostics technology.

    Answer

    CEO Kim Kelderman explained that academic performance was strong across product lines and regions, including in the U.S. and Europe, which both faced tough comps. He attributed the strength to funding flows aligning with Bio-Techne's portfolio in areas like cancer and neuroscience. On diagnostics partnerships, Kelderman confirmed the kidney rejection project with Thermo Fisher is progressing but emphasized that the primary focus is now on developing and commercializing its own exosome-based tests, like the upcoming ESR1 breast cancer test, through its Asuragen channel.

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    Sung Ji Nam's questions to BIO-TECHNE (TECH) leadership • Q2 2024

    Question

    Sung Ji Nam inquired about Bio-Techne's competitive advantages in AI-driven protein design and asked about the adoption curve for the multiomic capabilities on the COMET spatial biology platform.

    Answer

    CEO Kim Kelderman described the company's AI-engineered proteins as a 'stepwise change in innovation,' protected by patents and built on a unique combination of historical data and early AI investment. He stated that the COMET's unique multiomic capabilities and user-friendly design should drive rapid adoption, noting the company's existing strength in the clinical spatial biology market is a key differentiator.

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    Sung Ji Nam's questions to Twist Bioscience (TWST) leadership

    Sung Ji Nam's questions to Twist Bioscience (TWST) leadership • Q2 2025

    Question

    Sung Ji Nam inquired about the importance of the academic market for converting 'DNA makers' to buyers and whether the outlook for Express Gene growth in the U.S. has been affected by recent policy discussions.

    Answer

    President and COO Patrick Finn reaffirmed the $1.4 billion market opportunity in converting 'DNA makers.' He emphasized that Twist's value proposition of speed and cost-effectiveness resonates strongly in a constrained academic budget environment, allowing researchers to either get more 'shots on goal' or outsource cloning to focus on higher-value research. He concluded that the company remains very bullish on this opportunity.

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    Sung Ji Nam's questions to Twist Bioscience (TWST) leadership • Q1 2025

    Question

    Sung Ji Nam of Scotiabank inquired about the key development milestones for the DNA data storage business over the next one to two years.

    Answer

    CEO Emily Leproust detailed four primary milestones: scaling the silicon chip to the terabyte level, finalizing the enzymatic synthesis chemistry, building the associated hardware, and developing the integrated software. She added that while progress is now directly tied to investment levels, the company is intentionally managing spending in this area to prioritize achieving adjusted EBITDA breakeven for the overall business.

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    Sung Ji Nam's questions to Twist Bioscience (TWST) leadership • Q4 2024

    Question

    Sung Ji Nam inquired about the net impact of innovative library prep solutions from next-generation sequencing (NGS) providers, such as Element's Trinity, on Twist's future revenue opportunities.

    Answer

    CEO Dr. Emily Leproust described these advancements as a net positive for Twist. She explained that as the NGS market evolves towards higher quality and performance, it aligns perfectly with Twist's high-quality product offerings. Dr. Leproust emphasized that Twist's rapid R&D cycle is a key advantage that allows the company to adapt and capitalize on new technologies as they emerge.

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    Sung Ji Nam's questions to EXACT SCIENCES (EXAS) leadership

    Sung Ji Nam's questions to EXACT SCIENCES (EXAS) leadership • Q4 2024

    Question

    Sung Ji Nam of Scotiabank asked for more detail on the go-to-market strategy for Cancerguard, particularly which channels are expected to drive initial traction given the launch will be without third-party reimbursement.

    Answer

    CEO Kevin Conroy explained that they see huge leverage with their existing field force and strong interest from large health systems, which see a pressing need to identify cancers earlier. He noted that both the screening and precision oncology sales teams are eager to offer the test, which will be at a price point amenable to out-of-pocket payment.

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    Sung Ji Nam's questions to EXACT SCIENCES (EXAS) leadership • Q4 2024

    Question

    Sung Ji Nam inquired about the go-to-market strategy for the Cancerguard test, particularly how it will gain traction without third-party reimbursement at launch.

    Answer

    CEO Kevin Conroy explained that the launch will leverage the existing screening and precision oncology sales forces. He highlighted strong, proactive interest from large health systems, which see a need to identify cancers earlier and retain patients. He also indicated the test will likely have a differentiated price point that is more accessible for out-of-pocket payment.

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    Sung Ji Nam's questions to PACIFIC BIOSCIENCES OF CALIFORNIA (PACB) leadership

    Sung Ji Nam's questions to PACIFIC BIOSCIENCES OF CALIFORNIA (PACB) leadership • Q4 2024

    Question

    Sung Ji Nam inquired about the growth trajectory for the clinical business, which currently represents 15% of revenue, asking about its potential size in the coming years and the geographic and application breadth of the demand.

    Answer

    President and CEO Christian Henry projected that the clinical segment could double to 30% or more of total revenue over the next three years. He outlined that growth would be broad-based, coming from whole genome sequencing in rare disease, panel testing using the PureTarget kit for applications like carrier screening, and emerging opportunities in oncology. He expects this to be one of the fastest-growing areas of the business.

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    Sung Ji Nam's questions to Adaptive Biotechnologies (ADPT) leadership

    Sung Ji Nam's questions to Adaptive Biotechnologies (ADPT) leadership • Q4 2024

    Question

    Sung Ji Nam from Scotiabank asked for an update on the MRD pipeline for new indications following mantle cell lymphoma and inquired about Adaptive's positioning regarding the recent inclusion of ctDNA in NCCN guidelines for B-cell lymphoma.

    Answer

    Executive Sharon Benzeno detailed the pipeline, noting upcoming submissions for T-cell ALL and cutaneous T-cell lymphoma (CTCL), as well as efforts to expand the reimbursement framework for mantle cell. Executive Karina Calzadilla and CEO Chad Robins called the NCCN guideline update a positive step that aids commercial payer discussions for DLBCL, for which they already have Medicare coverage.

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    Sung Ji Nam's questions to Adaptive Biotechnologies (ADPT) leadership • Q3 2024

    Question

    On behalf of Sung Ji Nam, Corey Rosenbaum asked to clarify the remaining amount of Genentech amortization after 2024 and whether the ~70-25 OpEx split between MRD and Immune Medicine would hold for the next year.

    Answer

    CEO Chad Robins estimated that approximately $50 million to $60 million in Genentech amortization would remain after the current year. He also indicated that while formal guidance is pending, the company intends to constrain Immune Medicine spend, suggesting its percentage of total OpEx will be lower next year.

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    Sung Ji Nam's questions to ILLUMINA (ILMN) leadership

    Sung Ji Nam's questions to ILLUMINA (ILMN) leadership • Q4 2024

    Question

    Sung Ji Nam asked about the recently announced 'Project Stargate' AI initiative and whether Illumina could play a proactive role in shaping its personalized cancer vaccine and tumor gene sequencing components.

    Answer

    CEO Jacob Thaysen responded enthusiastically, calling it a great example of the future opportunity in healthcare. He stated that genomics will play a huge role in the project and positioned Illumina as the natural partner for such an initiative, expressing excitement about the possibilities.

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    Sung Ji Nam's questions to ILLUMINA (ILMN) leadership • Q3 2024

    Question

    Sung Ji Nam asked for more detail on end-market dynamics, specifically the drivers behind Europe's steady growth compared to the performance in the Americas.

    Answer

    CEO Jacob Thaysen credited Europe's consistent performance to steady execution. He explained that the Americas faced tougher year-over-year comparisons due to a larger number of NovaSeq X placements in the prior year and more intense mid-throughput competitive pressure in the U.S. He expects the U.S. comparisons to ease going forward.

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