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Quotient Limited (Nasdaq: QTNT) announced the closing of an underwritten public offering totaling 32,458,336 ordinary shares and pre-funded warrants for gross proceeds of approximately $20.0 million. The net proceeds amount to about $18.5 million after deducting related expenses. The funds will be used for the ongoing development and commercialization of the MosaiQ microarray platform, alongside working capital and general corporate purposes. Jefferies LLC and Cowen and Company, LLC served as joint book-running managers for the offering.
Quotient Limited (Nasdaq: QTNT) has priced an underwritten public offering of 66,666,667 ordinary shares, expecting gross proceeds of $20.0 million, with net proceeds approximating $18.5 million. The offering, set to close on June 28, 2022, includes a 30-day option for underwriters to purchase an additional 10 million shares. Proceeds will fund the development of the MosaiQ microarray menu and general corporate purposes. Jefferies LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.
Quotient Limited (QTNT) reported FY 2022 revenue of $38.5 million amid ongoing restructuring efforts to improve liquidity. The company's cash and investments stood at $83.2 million as of March 31, 2022. It secured $1.4 million in orders for its CE-marked MosaiQ solution and expects to engage in over 20 European immunohematology tenders in the next 18 months. However, operational losses persist, with net losses accumulating to $725 million. The company anticipates fiscal 2023 sales between $39 million and $42 million.
Quotient Limited (Nasdaq: QTNT) has announced improved debt terms that will reduce principal amortization payments by $93 million over the next 36 months. The company has amended its 12% Senior Secured Notes to alter the amortization schedule, shifting to quarterly payments of $2.5 million starting July 2024. The amendments are contingent upon raising at least $15 million in a public offering by July 15, 2022. In exchange for the debt restructuring, SSN holders will be granted warrants for 5% of the company's outstanding shares.
Quotient Limited (Nasdaq: QTNT) has announced a planned underwritten public offering of $20 million in ordinary shares, as well as pre-funded warrants for certain investors. The company aims to utilize the proceeds for the development of its MosaiQ microarray menu, working capital, and operating expenses. Additionally, underwriters will have a 30-day option to purchase an extra 15% of the offered shares. This offering is subject to market conditions, and Quotient has filed the necessary registration with the SEC.
Quotient Limited (NASDAQ: QTNT) pre-announces FY 2022 revenue of $38.5 million, with Q4 reagent sales of $9.8 million. The company secured $1.4 million in orders for its CE Marked Extended Immunohematology MosaiQ Solution in Q1 FY23. As of March 31, 2022, Quotient holds $83.2 million in cash and investments. The financial results will be released on June 24, 2022, along with a conference call. The company emphasizes its commitment to transforming diagnostics through its innovative MosaiQ technology.
Quotient Limited (NASDAQ: QTNT) will release its fiscal fourth quarter and full year financial results for the period ending March 31, 2022, on June 22, 2022. The results will be disseminated before the market opens, followed by a conference call at 8:00 AM ET. The call will feature CEO Manuel O. Méndez and CFO Ali J. Kiboro, with dial-in details provided for various regions. Quotient specializes in transfusion diagnostics, focusing on innovative solutions with its proprietary MosaiQ technology aimed at enhancing laboratory efficiencies and clinical practices.
Quotient Limited (NASDAQ:QTNT) has announced a partnership with Theradiag to enhance autoimmune diagnostics through its MosaiQ platform. This collaboration will focus on developing autoimmune microarrays, starting with solutions for Connective Tissue Diseases (CTD). It is expected to tap into a $2 billion market for autoimmune in vitro diagnostics (IVD) and aims for a targeted market introduction in the latter half of 2023. The agreement potentially reduces R&D expenses and expedites product development, providing a promising path to market with lower costs compared to traditional blood transfusion diagnostics.
Quotient Limited (NASDAQ: QTNT) has announced the opening of a new office in Dubai, UAE, and the establishment of Quotient Middle-East and Africa FZ LLC as part of its expansion strategy. This move aims to enhance customer support in the region and capitalize on growth opportunities in emerging markets. The company has also received the CE Mark for its MosaiQ Extended Immunohematology Microarray, expanding its testing capabilities in the EU and other recognized areas. Quotient plans to leverage its established distributor network to expand commercial distribution across the EU, Middle East, and Africa.
Quotient Limited (NASDAQ: QTNT) will host a KOL webinar on May 23, 2022, at 11:00 AM ET, focusing on blood grouping and donor disease screening. The event will feature Dr. Christophe Martinaud, who will discuss current challenges and the MosaiQ solution, an automated testing platform aimed at improving diagnostics and patient care. CEO Manuel O. Méndez will also share insights on its clinical and economic value. A Q&A session will follow the presentation. Registration for the event is available online.
