Risk Factors Update Summary

• Revenue from Medicare comprised 34% and 39% of revenue for the years ended December 31, 2023 and 2022, respectively. This represents a significant increase in Medicare revenue.
• The company incurred net losses of $23.7 million and $47.4 million for the years ended December 31, 2023 and 2022, respectively. This shows a decrease in net losses.
• The accumulated deficit increased from $255 million to $279 million as of December 31, 2023. This indicates a significant rise in the accumulated deficit.
• The company may experience uneven cash flow due to changes in reimbursement policies, impacting the comparability of operating results. This could lead to financial instability.
• The company may face challenges in managing growth, potentially leading to a reduction in average selling price or overall revenue. This could impact profitability.
• The company relies on sole suppliers for critical materials used in testing products. Failure to find replacements could disrupt operations and impact revenue.
• The company may be subject to increased regulatory requirements if the FDA begins oversight of Laboratory Developed Tests (LDTs). This could impact product development and market access.