Quantum-Si Incorporated - QSI STOCK NEWS

Detect, Inc. has launched its FDA-authorized PCR-quality at-home Covid-19 test for consumer purchase at $49. This rapid test is at least 50 times more sensitive than leading antigen tests, delivering results in one hour, with an accuracy agreement of 97.3% against highly sensitive PCR tests. The company appointed consumer tech veteran Hugo Barra as CEO to enhance its growth. Detect also offers a telehealth service for certified results at $20. They have raised $110M in funding and received an $8.1M contract from the NIH to scale manufacturing.

Quantum-Si (Nasdaq: QSI) has been added to the Nasdaq Biotechnology Index (Nasdaq: NBI) as part of its annual reconstitution, effective December 20, 2021. The Nasdaq Biotechnology Index tracks the performance of biotechnology and pharmaceutical securities based on specific eligibility criteria such as market capitalization and trading volume. Quantum-Si specializes in protein sequencing technology, aiming to enhance drug discovery and diagnostics through its innovative semiconductor chip designed for single molecule sequencing.

Quantum-Si (NASDAQ: QSI) announced its Q3 2021 financial results, reporting a net loss of $18.1 million, up from $8.6 million in Q3 2020. Operating expenses surged to $25.2 million, largely due to increased hiring and efforts in product development. The Early Access program expanded to ten sites, enhancing collaboration with academia and industry. The company also aims to bolster its chip production capabilities by acquiring Majelac Technologies. As of September 30, 2021, Quantum-Si has $500.2 million in cash and equivalents, positioning it well for future growth.

Quantum-Si (NASDAQ: QSI) has acquired Majelac Technologies LLC, enhancing its semiconductor chip assembly and packaging capabilities. This acquisition aims to secure Quantum-Si's supply chain and support the scaling of its commercialization efforts. CEO John Stark emphasized that in-house chip assembly will expedite operations to meet demand amid global semiconductor supply challenges. The integration of Majelac, known for its quick-turn assembly services, is expected to bolster Quantum-Si's mission to innovate in proteomics research.

Quantum-Si Incorporated (NASDAQ: QSI) announced its participation in the 2021 Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum. CEO John Stark and CFO Claudia Drayton will engage in a virtual fireside chat on Thursday, November 18, 2021, at 2:30 p.m. ET. Interested parties can access a webcast on the Investors section of Quantum-Si's website, with a replay available post-event. Founded in 2013 by Dr. Jonathan Rothberg, Quantum-Si focuses on advancing proteomics through its unique protein sequencing technology powered by a groundbreaking semiconductor chip.

Detect, Inc. announces that its PCR-quality at-home Covid-19 Test has received Emergency Use Authorization from the U.S. FDA. The test provides results in one hour, making it ideal for home, school, and workplace use. With an overall agreement of 97.3%, a sensitivity of 90.9%, and 100% specificity, it is among the most accurate home tests available. Priced under $50, it stands as the lowest-cost molecular test on the market. The test is designed to detect all current variants of concern and is supported by an $8.1 million NIH contract to scale up manufacturing.

Quantum-Si (NASDAQ:QSI) will report its Q3 2021 financial results on November 11, 2021, before market open. CEO John Stark and CFO Claudia Drayton will host a conference call at 8:30 a.m. ET on the same day to discuss the financial results and provide a business update. The call will be accessible via webcast and by phone.

Quantum-Si (NASDAQ: QSI) has expanded its Platinum early access program to ten global sites, including notable academic centers and industry partners. This initiative aims to enhance understanding of the proteome, which currently sees only 2% of its estimated million protein structures analyzed. The program supports the development of multi-omic assays and advanced biomarker characterization, positioning Quantum-Si to address critical biological research needs. CEO John Stark emphasizes the company's momentum in transforming proteomics and advancing drug discovery.

Detect, Inc. has secured an $8.1 million funding award from the National Institutes of Health (NIH) under the RADx initiative to advance its Detect™ Covid-19 Test. This test is currently pending FDA Emergency Use Authorization and promises PCR-quality results at home in approximately one hour. The funding will aid in scaling manufacturing to meet national demand. Designed for schools, businesses, and homes, the Detect Covid-19 Test targets all known Covid-19 variants, including Delta, enhancing accessible testing options in the U.S.