Welcome to our dedicated page for Singular Genomics Systems news (Ticker: OMIC), a resource for investors and traders seeking the latest updates and insights on Singular Genomics Systems stock.
Singular Genomics Systems, Inc. is a pioneering life science technology company headquartered in La Jolla, California. Positioned in the heart of the biotech hub near the Pacific Ocean, Singular Genomics is surrounded by prestigious institutions such as the Salk Institute, Scripps, Sanford Burnham, and UCSD. The company is at the cutting edge of genomics, one of the world's fastest-growing industries, and boasts a dynamic and fast-paced work environment that encourages innovation and results.
Singular Genomics is committed to advancing science and medicine through the development of next-generation sequencing (NGS) and multiomics technologies. Their product portfolio includes the G4 Sequencing Platform and the PX Integrated Solution, each designed to cater to distinct market needs. The G4 Sequencing Platform targets the NGS market, while the PX Integrated Solution focuses on single-cell, spatial analysis, and proteomics markets. These products are applicable in diverse fields such as oncology, immunology, neurology, genetic diseases, infectious diseases, and the human microbiome.
The company also recently introduced the G4X™ Spatial Sequencer, a high-throughput in situ spatial sequencing platform capable of direct RNA sequencing, targeted transcriptomics, proteomics, and fluorescent H&E staining from formalin-fixed, paraffin-embedded (FFPE) tissues. This upgrade to the G4 Sequencing Platform marks Singular Genomics as the only company worldwide to offer capabilities for tissue-based in situ spatial multiomics and NGS on the same instrument.
Singular Genomics prides itself on its strong culture of collaboration and innovation. The company offers competitive benefits, including free gym memberships, a 401k plan, flexible vacation policies, and equity incentives, allowing employees to grow alongside the company. The firm’s mission is to empower researchers and clinicians to advance science and medicine, driving forward the potential of genomics to improve human health.
In recent developments, Singular Genomics' management participated in a panel discussion titled “Emerging Life Science Technologies Across Genomics and Proteomics.” This event highlighted their ongoing commitment to innovation and collaboration within the field. The company continues to make significant strides with the G4X system, which promises unprecedented throughput and capabilities for spatial profiling of tissue, further cementing its role as a leader in genomics technology.
Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company specializing in next-generation sequencing and spatial multiomics technologies, has received an unsolicited non-binding acquisition proposal from Concentra Biosciences, The offer is to acquire all outstanding shares of Singular Genomics for $12.00 per share in cash. Alternatively, Concentra proposed offering a contingent value right for interested stockholders to participate in future value realization.
Tang Capital, the controlling stockholder of Concentra, owns approximately 14.9% of Singular Genomics' outstanding common stock. The company's board has previously formed a special committee of independent directors to evaluate strategic alternatives, including this proposal. TD Cowen is serving as the financial advisor to the special committee.
Singular Genomics Systems (Nasdaq: OMIC) has received a non-binding acquisition proposal from Deerfield Management Company and affiliated funds. The offer is to acquire all outstanding shares not already owned by Deerfield for $10.00 per share in cash. Deerfield, an existing stockholder, plans to invite other major stockholders and management to rollover their shares into the new company.
A special committee of independent directors, previously formed to evaluate strategic alternatives, will consider this proposal. The company emphasizes that there's no assurance of any transaction being consummated. TD Cowen is serving as the financial advisor to the special committee, with legal advisors also appointed.
Singular Genomics Systems (Nasdaq: OMIC) reported Q2 2024 financial results and recent highlights. The company recognized revenue of $0.7 million, shipped 2 G4 systems, and advanced development of the G4X Spatial Sequencer. Key financial metrics include:
- Gross profit: -$0.2 million
- Operating expenses: $22.6 million
- Net loss: $21.3 million (-$8.57 per share)
- Cash, equivalents, and short-term investments: $133.2 million
The company launched a Spatial Sequencing Technology Access Services program and opened a Spatial Research Grant award program. Singular Genomics also amended a long-term lease obligation, reducing obligations by approximately $50 million.
Singular Genomics Systems (Nasdaq: OMIC), a company specializing in next-generation sequencing (NGS) and spatial multiomics technologies, has announced its plans to report second quarter 2024 financial results on August 13, 2024, after market close. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the results.
Investors can join the call by dialing 1-888-506-0062 (domestic) or 1-973-528-0011 (international) using conference ID 661035. A live and archived webcast will be available on the company's investor relations website.
Singular Genomics Systems (Nasdaq: OMIC), a company specializing in next-generation sequencing (NGS) and spatial multiomics technologies, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company had previously received a non-compliance notice on July 17, 2023, as its stock price had fallen below $1.00 for 30 consecutive business days.
To meet the compliance standards, OMIC's closing bid price remained at or above $1.00 for 11 consecutive trading days from June 26 to July 11, 2024. This achievement ensures Singular Genomics' continued listing on the Nasdaq Capital Market, resolving the previous compliance issue.
Singular Genomics Systems (Nasdaq: OMIC) announced a 1-for-30 reverse stock split effective June 26, 2024, at 12:01 a.m. Eastern Time. The company's common stock will trade on a split-adjusted basis under the current symbol 'OMIC'. The new CUSIP number will be 82933R 308. This move aims to regain compliance with Nasdaq's minimum bid price requirement. Approved by stockholders on May 29, 2024, the split will convert 30 existing shares into one new share, reducing outstanding shares from 74.7 million to approximately 2.5 million. Authorized shares remain at 400 million, and the par value stays at $0.0001 per share. No fractional shares will be issued; instead, they will be rounded up to the nearest whole share. The reverse split does not affect Series A Preferred Stock or the proportional conversion ratio. Continental Stock Transfer & Trust Company will manage the exchange, with stockholders receiving information regarding their adjusted holdings.
Singular Genomics Systems (Nasdaq: OMIC) will present at the Goldman Sachs 45th Annual Global Healthcare Conference in Miami, Florida. The presentation is scheduled for Wednesday, June 12, 2024, at 7:40 a.m. PT / 10:40 a.m. ET. Management will participate in a fireside chat, and a live and recorded webcast will be available at investor.singulargenomics.com. Singular Genomics leverages novel next-generation sequencing (NGS) and spatial multiomics technologies to support researchers and clinicians.
Singular Genomics (Nasdaq: OMIC) reported its Q1 2024 financial results and highlighted recent achievements. Revenue for the quarter stood at $0.4 million, primarily from one G4 instrument sale and consumables. The company shipped six G4 systems, totaling 30 commercial units. Gross profit was negative $0.4 million, and operating expenses were $26.4 million, leading to a net loss of $25.0 million ($0.34 per share). Singular Genomics aims to launch its G4X spatial sequencer in 2025 and continues to support its existing customer base and expand its spatial services.
Singular Genomics Systems, Inc. (Nasdaq: OMIC) will announce its first quarter 2024 financial results on May 14, 2024, after the market closes. The company focuses on next-generation sequencing and spatial multiomics technologies. The management will host a conference call to discuss the results. Investors can join the call or access the webcast on investor.singulargenomics.com.
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