99 Wright’s Law* Has Predicted The Cost Decline Of Proteomics As the number of proteomes analyzed by mass spectrometry has increased, costs have dropped dramatically, unlocking new possibilities in medical research and diagnostics. Our research suggests that for untargeted proteomics using mass spectrometry, the cost per sample is declining 23% at an annual rate, or ~11% for each cumulative doubling in the number of proteomes sequenced. Proteomic discoveries are paving the way for the identification of novel biomarkers, enabling the earlier detection Y and treatment for unique cancer subtypes. G O L O HN Wright's Law Has Predicted The Cost Decline For Untargeted Proteomics US Trials With Patient Biomarkers C E T 475 $10,000 D N A 425 S L 2011 +9% CAGR O $1,000 2013 s375 (2010-2021) O ial T r e T C l 2021 MI p f325 O 2023 O am $100 r I S e T / b275 L t m s MU o u C N225 $10 175 $1 125 1 2 3 4 5 6 7 8 9 0 1 1 1 1 1 1 1 1 1 21 100 101 102 103 104 105 106 107 108 1 20 20 20 20 2020 20 20 20 20 20 22 23 20 20 20 20 Cumulative Proteomes Sequenced Year Wright’s Law states that for every cumulative doubling of units produced, costs will fall by a constant percentage. Sources: ARK Investment Management LLC, 2024. This ARK analysis is based on a range of external sources, which may be provided upon request. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.