Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 232

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 232
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 just begun to penetrate their existing territories and, over time, more clinics will adopt our tests in an existing sales territory. Finally, we typically see significant growth once we have gained adoption in a      
 clinic, as additional physicians in those clinics adopt our tests.                                                                                                                                                                                       |

We are in the early stages of executing the same sales strategy in oncology. We will continue to drive adoption of our tests by working closely with physicians, medical societies, payors, and patient advocacy groups to educate them on the benefits of our products. We also believe that our commitment to quality customer experience, through patient education, patient self-service, streamlined testing, and patient-friendly billing, will help maintain and enhance usage of our tests. With our Northstar product line, our commercial efforts have just begun, with our field sales team covering only a fraction of the geography. We have significant room to grow, via more geographical expansion, more penetration within existing sales territories, as well as within existing clinics.

| • |     | Build beyond our extensive library of clinical evidence to support favorable coverage and reimbursement. In                                                                                                         
 prenatal, our carrier and aneuploidy tests are broadly covered by most major insurance providers, and we have broad reimbursement for the tests we provide. In addition, we have contracts with payors that account |

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| for more than 225 million covered lives in the United States, which generally include our oncology products. We are continuing to generate persuasive clinical utility data that we believe 
 can lead to additional payor contracts and justify guideline inclusion.                                                                                                                     |

While we believe we have industry-leading ASPs for our prenatal products, as we contract with more payors and as certain aspects of our tests are more broadly covered due to guideline inclusions, we believe that our ASP will continue to increase. In oncology, we have already secured Medicare and Medicare Advantage coverage for Northstar Select. For Northstar Response, our flagship study, NORTH, along with other ongoing clinical studies, has the potential to generate sufficient clinical validity evidence for our MolDX submissions for Medicare coverage.

| • |     | Utilize our smNGS platform and R&D capabilities to efficiently expand and improve our portfolio of category-defining                                                                                                                                
 molecular diagnostic tests. Our foundational smNGS platform fundamentally reduces the biological and clinical risks in our product development process. Because it achieves single molecule level sensitivity and precision at the physical LOD, we 
 can accurately predict clinical performance in advance when designing new smNGS assays. This is complemented by our lean and innovative R&D structure which