NantHealth, a Culver City, Calif.-based company led by billionaire physician Patrick Soon-Shiong, MD, aims to improve patient outcomes through personalized healthcare solutions that target specific molecular profiles. The company’s flagship genetic testing product is GPS Cancer, which NantHealth advertises as a way to guide cancer treatment by matching patients with tailored drug therapies.
Dr. Soon-Shiong has faced criticism for his business practices in recent months. In November 2017, Politico published an investigation into claims Dr. Soon-Shiong boosted sales of GPS Cancer by citing positive experiences from three physicians with financial ties to his biotech companies.
Here are four things to know about NantHealth’s year-end performance.
1. NantHealth posted $86.7 million in revenue for full-year 2017, up 8 percent from $80.4 million in 2016.
2. The majority of the company’s revenue is attributed to software related-services, which comprised $66.8 million in revenue in 2017, up 6 percent from $63 million the year prior.
3. Revenue from sequencing and molecular analysis comprised $2.6 million this year, up more than 300 percent from $604,000 in 2016.
4. NantHealth posted a net loss of $175.2 million, 4 percent less than the $184.1 million net loss the company reported in 2016.
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