Personalis shares rose after the Centers for Medicare and Medicaid Services expanded coverage for its NeXT Personal minimal residual disease assay. The MolDX program expanded reimbursement to include immunotherapy monitoring across late-stage solid tumors, supported by evidence from a study in collaboration with Spain’s Vall d’Hebron Institute of Oncology. The tumor-informed assay uses circulating tumor DNA and is designed for surveillance of treatment response and prediction of clinical outcomes among immunotherapy patients. Previously, Medicare coverage covered recurrence monitoring in specific settings, including stage II to III breast cancer and stage I to III non-small cell lung cancer. Analyst Subbu Nambi of Guggenheim said immuno-oncology reimbursement could translate into meaningful upside, noting guidance had not contemplated IO coverage. CEO Chris Hall called the decision a validation of NeXT Personal’s role in active treatment management. For oncology-focused biotech platforms, broader payer coverage is a direct lever affecting adoption, ordering behavior, and long-term revenue durability.