BillionToOne

BillionToOne

BLLN
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BLLN · Stock Price

USD 92.90-16.04 (-14.72%)
Market Cap: $4.0B

Historical price data

Market Cap: $4.0BPipeline: 2 drugsPatents: 9Founded: 2016HQ: Menlo Park, United States

Overview

BillionToOne is a commercial-stage precision diagnostics company with a mission to remove the fear of the unknown by providing accurate, fast, and accessible molecular diagnostics. The company has achieved significant milestones, including a successful November 2025 IPO and the commercial launch of its UNITY prenatal and Northstar oncology liquid biopsy suites, which are built on its proprietary single-molecule NGS platform. Its strategy is to dominate high-growth segments in prenatal screening and oncology by leveraging its unique ability to quantify sparse DNA fragments with single-molecule precision, thereby addressing critical unmet needs in early disease detection and monitoring.

Prenatal HealthOncology

Technology Platform

Proprietary single-molecule next-generation sequencing (smNGS) platform enabled by Quantitative Counting Templates™ (QCTs™) for absolute quantification of target DNA molecules with single base-pair resolution.

Pipeline

2
2 drugs in pipeline
DrugIndicationStageWatch
5-Fluorouracil + Oxaliplatin + Leucovorin + Irinotecan + Gem...Metastatic Pancreatic Ductal AdenocarcinomaPhase 2
NIVOLUMAB (alone or when added to a regimen above) + PEMBROL...Gastroesophageal AdenocarcinomaPhase 1

Funding History

4
Total raised:$122.5M
IPOUndisclosed
Series B$105M
Series A$15M
Seed$2.5M

Opportunities

BillionToOne has the opportunity to expand the $13B+ NIPT market by enabling non-invasive screening for single-gene recessive disorders and to capture significant share in the $20B+ liquid biopsy market by addressing the unmet need for high-sensitivity testing in low-shedding tumors and treatment monitoring.
Its platform technology also offers long-term optionality for expansion into other cfDNA-based diagnostic areas.

Risk Factors

Key risks include commercial execution against large, entrenched competitors, securing widespread payer reimbursement, navigating an evolving regulatory landscape for LDTs, and the potential for technical or scaling challenges as test volumes grow.

Competitive Landscape

In prenatal testing, BillionToOne's UNITY suite is differentiated by its unique ability to screen for single-gene conditions, a feature not offered by major NIPT players like Natera or Roche. In oncology, its Northstar suite competes on superior sensitivity (0.01% VAF) against liquid biopsy leaders like Guardant Health and FOUNDATION Medicine, targeting the niche of low-shedding tumors and precise monitoring.

Company Timeline

2016Founded

Founded in Menlo Park, United States

2019Series A

Series A: $15.0M

2021Series B

Series B: $105.0M

2023IPO

Initial Public Offering