The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Tycho Peterson - Jefferies - Analyst
: Kevin, while you're walking up to the podium there, maybe you can talk a little bit about your recent purchase. You bought $1 million worth of
stock in the open market. It's a good place to start. Bullish signal.
Question: Tycho Peterson - Jefferies - Analyst
: Let's talk about guidance. Either Aaron or Kevin can take this one. You lowered by $90 million at the midpoint. Obviously, a number of gives and
takes here. Do you want to kind of walk through the moving pieces?
Question: Tycho Peterson - Jefferies - Analyst
: Yeah. Why don't we actually start with that and talk about why you didn't see the typical seasonality that I think you kind of alluded to, changing
consumption patterns for health care earlier in the year, but maybe dive into that a little more.
Question: Tycho Peterson - Jefferies - Analyst
: And then any recapture from the hurricane is on top of that, right?
Question: Tycho Peterson - Jefferies - Analyst
: You wouldn't recapture some of that?
Question: Tycho Peterson - Jefferies - Analyst
: And Kevin, it sounds like you kind of implemented the changes you need to implement. So why did you talk about this kind of lasting a couple of
quarters in terms of the sales force transition?
Question: Tycho Peterson - Jefferies - Analyst
: I guess how about the legacy customers? One of the concerns being you're more -- maybe more penetrated than people realize on the legacy
business and you need care gap, you need rescreens to kind of maintain the growth.
Question: Tycho Peterson - Jefferies - Analyst
: Let's talk about Cologuard Plus. I mean, a number of kind of moving pieces here. I guess one question we get a lot is where do you set price, right?
And I know you've talked about 10% being a bar that you'd maybe be happy with, but why couldn't you go to the cash pay rate for Cologuard, for
example, which would be quite a bit higher. Are you automatically grandfathered into USPSTF? And then I know some of your legacy contracts
include next-gen testing in them. So how do we think about that dynamic?
Question: Tycho Peterson - Jefferies - Analyst
: You've got data coming next year. Maybe we can just spend a minute on the MRD data. You pushed out the release of the data. You didn't push
out the launch time line. So maybe just talk about that dynamic and how we should think about the data.
Question: Tycho Peterson - Jefferies - Analyst
: And in terms of investments around the launch, you've talked about the fact you've got a good sales channel already. You don't need significant
incremental investments there.
Question: Tycho Peterson - Jefferies - Analyst
: Let's spend a minute on blood then, too. Obviously, case control data was strong. Attenuation is probably the number one question we get there,
right? And what level of degradation would you feel comfortable with? I mean, how do we think about degradation on pivotal readout?
Question: Tycho Peterson - Jefferies - Analyst
: Great. We've got a minute left. Aaron, I wanted to maybe just touch on margins, thinking a little bit about like care gap being lower margin. Do we
have to think differently about the longer-term margin profile of the business?
Question: Tycho Peterson - Jefferies - Analyst
: Great. I think we're out of time. We'll leave it at that. Thank you.
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