Quantum-Si Incorporated - QSI STOCK NEWS

Quantum-Si (Nasdaq: QSI) reported its Q2 2024 financial results, highlighting revenue of $622,000 and a gross margin of 57%. The company announced the launch of its version 3 sequencing kit and plans to release two additional kits by the end of 2024. QSI completed its first full quarter of commercial launch for the Platinum® instrument.

Key financial points include:

• Net loss of $23.1 million in Q2 2024, down from $25.6 million in Q2 2023
• Adjusted EBITDA of -$22.6 million in Q2 2024
• Cash and investments totaling $218.1 million as of June 30, 2024

The company reaffirmed its 2024 guidance, projecting revenue between $3.7-$4.2 million and adjusted operating expenses under $103 million. QSI expects its current cash position to provide runway into 2026.

Quantum-Si (Nasdaq: QSI), known as The Protein Sequencing Company™, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference in Boston from August 13-15, 2024. The company's CEO, Jeff Hawkins, and CFO, Jeff Keyes, will engage in a fireside chat on Tuesday, August 13th, at 11:00 AM ET.

Investors and interested parties can access a live and archived webcast of the event through the 'Investors' section of Quantum-Si's website under Events & Presentations. This participation highlights QSI's commitment to engaging with the investment community and sharing insights about their innovative protein sequencing technology.

Quantum-Si (Nasdaq: QSI), known as The Protein Sequencing Company™, has announced its plans to report second quarter 2024 financial results on August 7, 2024. The company will host a conference call and webcast on the same day at 4:30 PM ET to discuss the financial results and provide a business update.

Interested individuals can join the live webcast through the Investors section of the Quantum-Si website under Events and Presentations. Alternatively, participants can register to receive a dial-in number and personalized PIN for the call. An archived version of the webcast will be available for replay after the event.

Quantum-Si announced a presentation by Dr. Gloria Sheynkman at the Festival of Genomics and Biodata in Boston on June 12-13, 2024. The talk will cover the use of Quantum-Si’s Next-Generation Protein Sequencing (NGPS) technology to identify disease-relevant proteoforms. Dr. Sheynkman’s research involves advanced analytical methods to uncover proteomic variations driving complex diseases. The Quantum-Si platform uses dye-labeled amino acid recognizers to detect subtle variations in proteins, providing new insights into human health. The presentation will also discuss the creation of a protein isoform database and mapping splicing events related to bone mineral density in human fetal osteoblast cells.

Quantum-Si (Nasdaq: QSI) announced upcoming presentations at two industry conferences. Dr. Gloria Sheynkman's lab will present at the ASMS annual meeting on June 2-6, 2024, highlighting the integration of single-molecule detection with proteogenomics to detect peptides. Dr. Brian Reed will present at the ESHG annual meeting on June 1-4, 2024, discussing the role of Next-Generation Protein Sequencing (NGPS) in advancing biological research. The Platinum® platform, a compact protein sequencer from Quantum-Si, will be featured for its ability to sequence proteins with single-amino-acid resolution.

Quantum-Si (Nasdaq: QSI), known as The Protein Sequencing Company™, announced the appointment of Chuck Kummeth as the independent Chairman of the Board, effective May 27, 2024.

Mr. Kummeth brings over 35 years of leadership experience in Life Sciences, having previously served as President and CEO of Bio-Techne. Under his leadership, Bio-Techne achieved significant growth, increasing annual revenue from $300M to over $1.1B and expanding its employee base from 800 to over 3,000.

Additionally, the company's market capitalization grew from $2.2B to $21B, and he successfully executed 19 acquisitions while maintaining a 35% or better EBITDA level. Prior to Bio-Techne, Kummeth held significant roles at Thermo Fisher Scientific and 3M

Jeff Hawkins, CEO of Quantum-Si, emphasized Kummeth’s operational experience and track record in proteomics, anticipating his leadership will drive the company's growth and impact in the field.

Dr. Jonathan Rothberg, the current Chairman, will remain on the Board.

Quantum-Si reported revenue of $457,000 for the first quarter of 2024 and initiated the full commercial launch of its Platinum® instrument. The company is on track to launch version 3 of its sequencing kit by the end of Q3 2024. Addition of Paula Dowdy to the Board of Directors and release of a new version of Platinum® Analysis Software were announced. Quantum-Si reaffirmed its full year 2024 financial guidance, with revenue expected to be between $3.7 - $4.2 million and total cash usage less than $100 million. The Company's cash and cash equivalents as of March 31, 2024, were $235.4 million, providing a runway into 2026.

Quantum-Si announced upgrades to its Platinum Analysis Software, improving data output and precision for Next-Generation Protein Sequencing. The enhancements include reduced processing time and increased accuracy, offering customers a 55% increase in peptide alignments, 9% rise in identifying unknown proteins, and a 70% cut in analysis time.