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Quotient Limited (QTNT) has announced plans to voluntarily delist its ordinary shares from the Nasdaq Global Market due to non-compliance with market value and bid price requirements. The delisting will take effect after filing a Form 25 on December 27, 2022, with the final trading day expected around January 6, 2023. Additionally, a Transaction Support Agreement aims to extinguish the company's equity securities to reduce debt and increase liquidity, reflecting a significant shift in its business strategy.
Quotient Limited (Nasdaq: QTNT) announced a reverse stock split at a 1-for-40 ratio effective November 2, 2022. This move aims to comply with Nasdaq's minimum bid price requirement. Post-split, shares will trade under the same symbol, QTNT, with a new CUSIP number of G73268149. The reverse split automatically converts every 40 existing shares into one new share, with no changes to shareholder rights. Fractional shares will be aggregated and sold, with cash payments provided to shareholders. Detailed information about this action is found in the company's SEC filings.
Quotient Limited (NASDAQ: QTNT) announced a one-for-40 reverse stock split effective November 2, 2022, at 5:01 p.m. ET. This action aims to comply with Nasdaq's minimum bid price requirement. Following the split, the number of outstanding Ordinary Shares will decrease from approximately 141.2 million to about 3.5 million. The adjustment also impacts all outstanding options, warrants, and securities, with shareholders receiving cash for any fractional shares. The company believes this move will help improve its market standing.
Sannova Analytical, a leading contract research organization, has appointed Jason Apter as its new Chief Executive Officer and Stephen Unger as Chief Financial Officer. Mr. Apter brings extensive leadership experience from Johnson Matthey and Millipore Sigma, aiming to enhance Sannova's client focus and operational excellence. Mr. Unger, a seasoned finance executive, previously served as CFO of Quotient Limited (NASDAQ: QTNT). Their appointments signal a strategic move towards expanding services and improving market position, with the backing of SFW Capital Partners.
Quotient Limited (NASDAQ:QTNT) has been selected to join the World Economic Forum’s New Champions Community, aimed at promoting purpose-driven mid-sized companies. This recognition underscores Quotient's commitment to enhancing laboratory efficiencies and patient care with its innovative MosaiQ solution. CEO Manuel O. Méndez emphasized the company's dedication to blood safety and innovative diagnostics. The MosaiQ platform is touted as a game changer in transfusion diagnostics, promising significant operational cost savings for laboratories globally.
Quotient Limited (NASDAQ:QTNT) announced that the National Screening Laboratory of Sanquin Blood Supply Foundation has joined its MosaiQ Innovator’s Circle. This partnership aims to enhance innovation in transfusion medicine and improve clinical practices globally. Sanquin, based in Amsterdam, is dedicated to safe blood supply and advanced diagnostic services. Quotient's MosaiQ technology offers a fully automated testing platform, promising operational efficiency and cost savings for laboratories.
Quotient Limited (QTNT) reported Q1 FY 2023 revenue of $8.8 million, down from $9.1 million previously. The company secured $1.4 million in bookings and generated $0.4 million from its Extended Immunohematology (IH) solution. Operating loss for the quarter was $(25.8 million), reflecting increased expenses, including $0.9 million in legal costs. Cash and investments totaled $63.2 million. Guidance remains unchanged, anticipating total sales between $39 million and $42 million for the fiscal year.
Quotient Limited (NASDAQ: QTNT) will release its financial results for the fiscal first quarter ending June 30, 2022, before the market opens on August 9, 2022. The company's conference call will occur at 8:30 AM ET, with key speakers including CEO Manuel O. Méndez and CFO Ali J. Kiboro. Quotient is focused on transforming diagnostics with its innovative MosaiQ technology, enhancing efficiency and cost-effectiveness for laboratories globally.
Quotient Limited (NASDAQ:QTNT) has announced a partnership with InfYnity Biomarkers to enhance its MosaiQ infectious disease testing capabilities. The collaboration aims to develop multiplexed assays for better disease management, reducing development time and costs. InfYnity will assist in designing new antibodies and antigens for blood screening and efficacy monitoring. This partnership is expected to strengthen Quotient's position in the diagnostic market, providing a competitive edge in infectious disease assays.
Quotient Limited (NASDAQ:QTNT) announced the appointment of Steven Zuiderwijk as Chief Strategy & Business Development Officer, effective July 1, 2022. The Company granted him 112,780 performance-based restricted share units, 67,668 restricted share units, and options for 45,112 ordinary shares as part of the inducement to join. The performance-based units will vest after achieving specific financial targets, while the others will vest in equal installments over three years. Quotient focuses on innovative transfusion diagnostics solutions, including the MosaiQ platform aimed at improving clinical practices.
