Business Context and Reporting Period
Company: Personalis, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 24, 2025
Event: Revision of Medicare reimbursement rates for the NeXT Personal test suite.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, or debt metrics. It reports specific reimbursement rate adjustments effective December 1, 2025:
- NeXT Personal Dx Breast MRD Recurrence Monitoring Test: $4,266 per test.
- NeXT Personal Single Plasma Test: $1,164 per test.
Material Changes
The Centers for Medicare & Medicaid Services (CMS) Molecular Diagnostics Program revised the reimbursement rate determination for Personalis's ultrasensitive NeXT Personal test used for post-treatment surveillance of cancer recurrence in patients with stage II and III breast cancer. The new rates represent a change from prior determinations, effective December 1, 2025.
Guidance, Outlook, and Coverage Details
Coverage Frequency:
- NeXT Personal Dx Breast MRD Recurrence Monitoring Test: Available once per cancer diagnosis.
- NeXT Personal Single Plasma Test: Available for a period of up to six years post-treatment.
Management Commentary: The filing contains no additional management commentary, forward-looking guidance, or discussion of risks beyond the announcement of the rate revision.
Investor Verification Checklist
- Verify the historical reimbursement rates for these tests to quantify the magnitude of the change.
- Confirm the volume of Medicare-covered tests currently processed to estimate revenue impact.
- Review the specific CPT codes associated with the new rates to ensure billing alignment.
- Assess whether the "once per diagnosis" limitation for the monitoring test impacts long-term patient retention compared to the six-year coverage for the plasma test.