To enlighten investors on the impact of these breakthroughs and the opportunities they should create, we began publishing Big Ideas in 2017. This annual research report seeks to highlight

Molecular Prognostic 
Testing
can help 
pathologists differentiate 
between aggressive and 
indolent cancers, reducing 
overtreatment.
3
Somatic and Minimal Residual 
Disease (MRD) Testing
enables 
oncologists to optimize surgical 
resection, identify precision 
therapies, and monitor
for cancer recurrence.
4

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•
*A $150 billion market opportunity is dependent upon high patient adherence to all screening guidelines inclusive of multi- and single-cancer screening modalities. Screening providers likely will price lower than the top of the 
reimbursement envelope to accelerate system adoption and enable other payment options—such as patient pay. Finally, we expect that comprehensive germline testing is a prerequisite to screening persons younger than age 40. 
**COGS: Cost of Goods Sold. *** USPSTF: A volunteer group of health experts who review published research and make recommendations about prevention health care methods such as screening tests, counseling, immunizations, and 
medicines. Forecasts are inherently limited and cannot be relied upon.
Source: ARK Investment Management LLC, 2020 based on data sourced from https://www.medpagetoday.com/hematologyoncology/coloncancer/89352. [1] United States Preventive Services Task Force (USPSTF).
105
Multi-Cancer Screening
2020 Prototype
$1,500 ASP 
($1,500 COGS)
2025 Commercial
$1,000 ASP 
($250 COGS)
2015 Prototype
( $30K COGS**)
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$100
$1,000
$10,000
$100,000
Total Addressable Market (Billions, USD)
Reimbursement Price (USD) [Log Scale]