Clarient 2009 Annual Shareholders

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State of Clarient Inc.

2009 Annual Meeting of Stockholders

June 17, 2009



Forward Looking Statement

The statements contained in this presentation that are not historical facts are forward looking

statements which involve certain risks and uncertainties including, but not limited to, risks

associated with the uncertainty of managing rapidly changing technologies, limited access tocapital, competition, the ability to attract and retain qualified employees, our ability to execute

our strate the uncertaint of the future erformance of our com an ac uisitions and

dispositions, the inability to manage growth, government regulation and legal liabilities,

additional financing requirements, labor disputes, the effect of economic conditions in the

business sectors in which our company operates, and other uncertainties as described in the

company s ngs w e ecur es an xc ange omm ss on.

The company does not assume any obligation to update any forward looking statements or

.

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© Clarient, Inc. 2006



Clarient’s Vision

Improve the lives of thoseaffected with cancer by bringing

c ar ty to a comp ex sease.

3



Mission Statement

To be the leader in cancer diagnostics by dedicatingourselves to collaborative relationshi s with the

healthcare community as we translate cancer

discovery and information into better patient care.

4



We Are Successfully Executing Our Plan

Phase IIIPhase IIPhase I

2005 2012

Launch service strategyaround Breast Prognostictesting

• Scale service business

• Launch virtual offering

• Maintain base revenue growth

• Launch novelmarkers/capabilities

• Expand menu:Leukemia/Lymphoma

• Engage Pharma

• Expand menu: solid tumor offering

• Divest Instrument Business

•

• Initiate clinical developmenton “Game Changing” Dx

• Develop East Coast

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• Expand Pharma/Dx

collaborations

presence

• Launch Circulating Tumor CellPhenotype program



19 Quarters of Consecutive Revenue Growth

$25.0

$20.0

$15.0

m i l l i o n s )

$5.0

10.0

( i n

$-

Q3/ 04 Q4/ 04 Q1/ 05 Q2/ 05 Q3/ 05 Q4/ 05 Q1/ 06 Q2/ 06 Q3/ 06 Q4/ 06 Q1/ 07 Q2/ 07 Q3/ 07 Q4/ 07 Q1/ 08 Q2/ 08 Q3/ 08 Q4/ 08 Q1/ 09

6



Increasing Enterprise Value

Oak Financin Si nificantl Stren thens Our Balance Sheet

7



Simplifying Complex Technologies into Actionable

Information for Community Health Care Professionals

Specialized Oncology Testing PATHSiTE: Leading Pathology into Community Pathologist

Genetic

messagesGenetic

fingerprint

Protein PATHSiTE

ell unctionexpression Virtual Microscopy

Internet Based Access to Cases

On line training on Molecular Dx

Access to Academic PathologyNetwork

8



CLARiENT Difference

• Partner with local pathologist to ensure

– Pathologist has access to• The right tests

• The right expertise

• The ri ht technolo ies – Care is given in the right place

– Patient receives the best ossible thera ies

– Patient has optimal outcome

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PATHSiTE- The Community Pathologist’s Portal To

Academic Level Testing

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Clarient Is Leading The Transition Of Pathology

Into The Di ital A e

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Our message is simple…Collaboration

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A Solid Footprint Of Clients

• Over 1,000 community practices of Pathology

• > customer retent on rate

• Averaging over 50 new customers per quarter or consecu ve quar ers

• Recently increased sales territories from an

• >85% receive cases via PATHSiTE

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The Cancer Diagnostic Market



The Promise of Molecular Targeted Therapies

Molecular targeted therapies are being developed for the most

Molecular Targeted Therapies in Clinical Trials by Indication, 2006

39

40Breast Cancer

30

34

35

Ovarian Cancer

CRC

Prostate Cancer

19

23

23

29

RCC

Pancreatic Cancer

Melanoma

5

6

11

Mesothelioma

HCC

Head & Neck

15Source: Datamonitor, IMS, and Diagnostics Intelligence Group.

0 5 10 15 20 25 30 35 40 45



Molecular Diagnostics for Cancer

Sales of MDx for Cancer are projected to increase by 17.6% per year

Molecular Diagnostics for Cancer, 2002-2012 ($M)

$623.5

$700

$390.7

$457.4

$541.7

$500

$600

$186.5

$276.8

$332.2

$300

$59.8 $59.7 $64.2

$120.6

$100

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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Note: Market size based on revenues from sales of molecular products (instruments, assays and reagents).

Source: Frost & Sullivan.



MDx for Theranostics

MDx for Theranostics are projected to have a similar growth

, .

Molecular Diagnostics for Pharmacogenomics, 2002-2012 ($M)$700

$390.0

$468.0

$556.9

$500

$600

$208.0

$260.0

$325.0

$300

$55.0$70.0

$95.0

$123.0

$160.0

$100

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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Note: Market size based on revenues from sales of molecular products (instruments, assays and reagents).

Source: Frost & Sullivan.



MDx for Pharmacogenomic Segments

Cancer therapy tests currently represent the majority of diagnostics

Molecular Diagnostics for Pharmacogenomics by Segment, 2005

Other 10%

CYP45010%

TMPT10%

Cancer TherapyTests70%

18Source: Frost & Sullivan, Diagnostics Intelligence Group.

N = $123.0M



Clarient is Well Positioned on High VolumeIndications

In 2008, 1.4 million people in the U.S. were diagnosed with cancer,

’

186,320

215,020

Prostate

Lung and Bronchus

Estimated New Cases, 2008

62,480

68,810

74,340

148,810

184,450

Melanoma

Urinary Bladder

Lymphoma

Colon/Rectum

Breast

37,340

37,680

44,270

51,170

54,390

Thyroid

Pancreas

Leukemia

Uterus (Cervix)

Kidney and Renal Pelvis

21,370

21,500

21,810

25,110

35,310

Liver / Bile Duct

Stomach

Brain/Nervous System

Ovary

Oral

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0 50,000 100,000 150,000 200,000 250,000

Source: American Cancer Society, Cancer Facts & Figures, 2008.



Significant Opportunities for Growth

M&A

Add t onal

Opportunities

Novel Biomarkers

Strong Growth of Esoteric Testing

New Opportunities

Expansion of Molecular Markers to

Drive Therapy Decisions

Established Reputation with Pathologists

Opportunities

Market LeadershipFull service offering

Comprehensive Test Menuand Reputation

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Our Growth Strategy

• Deepen market penetration…2009 Sales ForceEx ansion

• Expand Same Store Sales opportunities in currentterr tor es to cap ta ze on ncreas ng menu ept

• Differentiate via menu of novel tests

• Explore geographic expansion and partnerships with

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academia



A Growing Offering For Therapeutic Decisions

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Oncogenic “Pathways” To Revenue GrowthIncreased understanding of cancer leads to menu depth

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Value Creation in Oncology Diagnostics

Clarient will expand presence into prognosis and monitoring via novel markers

V a l u e

I n f o r m a t i o n

Complexity

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Molecular Pathology At The Tipping Point

Screening Diagnosis Prognosis Theranosis Monitoring

Breast e

• $ 1.5B - $3.0B Growth over next 5 years

Lung

Colon e r e n c e l a b s c o m p e t

t u m

o r b l o c k

• Minimal pressure on reimbursement

• Lack of capital access will increase

Prostate

G n a l P a t h o l o g i s t s / r e f

f o r t h e p r i m a r y

• Companies focused on technology

vs information to manage cancer event

L/L L o

• Opportunity to seize emerging MolecularPathology market space…CLRT poised

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Clarient Poised to Seize the Opportunity

Commercial Channel Read …Content Ga s Exist

Screening Dx Px Tx Monitoring

Breast

Lung

Colon

Prostate

G n

L/L

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Clarient Insight® Dx Program

• Add “High Value” content to Clarient’s powerful

• Commercialize Novel Diagnostic Markers and Novel

• Provide “compelling reason to buy” Clarient Services

Base Business

• Focus on delivering diagnostic, prognostic andtheranostic information for Breast, Prostate, Lung, Colon

and Leukemia/Lymphoma

• Increase CLRT market multiple

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The Clarient Insight® Dx Breast Cancer Profile

Provides clinician with Recurrence

Risk Score

Identifies women with Estrogen

Receptor cancers who do not need

Chemotherapy

Markers used have well established roles

in breast cancer prognosis

Applies to all stages of operable breast

cancer including lymph node positive

Competitive with current prognostic

applications on market

Reimbursement range: $2000 - $3000

MARKET SIZE: $400M

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EGFR Mutation Analysis

A Genetic Marker for Thera eutic Res onse

• Analyses have shown that NSCLC patients with EGFR

response (89%) and longer survival to TKIs than patientswith wild-type EGFR.

• e scovery o t e act vat ng mutat ons was amajor breakthrough in the treatment and understanding

of NSCLC. However, althou h some atients initiall hada good therapeutic response to erlotinib or gefitnib thatcould persist for 2–3 years, in most cases, the meanduration of res onse was onl 6–8 months.

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NSCLC Marker Summary

• EGFR mutation (goodindicator for response)

• EGFR FISH copy number

(good indicator for response)

• 29 gene mutation panel/1wild type

• NCCN guidelinesg g t use u ness

• Indicated for all NSCLC• Avera e reimbursement

range: $1200-$1800• Total Available Market

> 300M

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Investor Highlights



Clarient Is Well Positioned To Move Into

,(amountsinmillions)

Market Ent. Ent. Val./ Ent. Val./

TTM TTM

Ticker Company Cap Value Rev. Rev. EBITDA EBITDA

Slower Growth Lab Services

DGX Quest Diagnostics Inc. $9,626 $12,504 $7,273 1.7x $1,544 8.1xLH Laboratory Corp. $6,864 $8,138 $4,558 1.8x $1,035 7.9xSHL Sonic Healthcare Ltd. $3,593 $4,646 $1,873 2.5x $364 12.8xBRLI Bio-Reference Labs $343 $370 $310 1.2x $38 9.7x

Mean: 1.8x 9.6xMedian: 1.8x 8.9x

Higher Growth Specialty

GXDX Genoptix, Inc. $446 $335 $133 2.5x $35 9.7xCLRT Clarient, Inc. $270 $270 $80 3.3x $3 NM


High Growth Proprietary, High Value

MYGN Myriad Genetics Inc.* $3,108 $2,573 $412 6.2x $129 20.0xGHDX Genomic Health Inc. $538 $486 $121 4.0x ($10) NM

*Myriadcurrentlyspinningoffitsresearchanddrugdevelopmentbusinessesfromitsmoleculardiagnosticsbusiness.

**Sequenomdataasof4/29/2009,1daypriortosetback.


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Financial Highlights

• Nineteen consecutive quarters of sequential revenue growth

• Quarterl revenue u 41% YoY

• Q1 Gross Margin increased to 60% from 54% YoY

• Three consecutive quarters of positive Operating Income

• Five consecutive quarters of positive Adjusted EBITDA, currently at $2.2million YTD (Through Q1-09)

• omp e e m gra on o new n- ouse ng sys em n , po en a sav ngs$2 million a year

• Oak Investment financing eliminates mezzanine debt facility

• NOL Carry-Forwards minimize tax exposure on future profits

• 2009 Revenue Guidance: $93M - $98M

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Investor Highlights

• Refinancing via Oak Investment Transaction…strong balance sheet

• Exponential revenue growth - taking share and expanding market

• Adding High Value proprietary Dx to our powerful commercial engine

• Strategic relationships with industry leaders

• Commitment to operational and financial discipline

•

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Documents

Clarient 2009 Annual Shareholders