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Quotient Limited (NASDAQ: QTNT) announced that it has received constructive feedback from the European notified body on its Expanded Immunohematology (IH) submission. The company expressed satisfaction with this feedback and plans to respond to the inquiries in the coming weeks. Quotient continues to anticipate receiving regulatory approval in Q1 CY 2022, which is crucial for its commercialization strategy. The chief executive emphasized the team's progress and the potential impact of the MosaiQ technology on diagnostic practices.
Quotient Limited (NASDAQ: QTNT) has appointed Esteban Uriarte as Chief Manufacturing Operations Officer (CMOO), effective February 1, 2022. Uriarte brings over 30 years of experience in manufacturing and production operations in the medical devices and pharmaceutical sectors. His previous roles include Senior Manufacturing Director at Ferring Pharmaceuticals and Manufacturing Director at DePuy Synthes. The company aims to leverage Uriarte's expertise to enhance operational excellence and drive manufacturing scale-up as it transitions from development to commercialization.
Quotient Limited (NASDAQ:QTNT) announced the appointment of Ali Kiboro as the new CFO effective November 1, 2021. To incentivize his joining, the company granted him 203,491 performance-based restricted share units, 122,095 restricted share units, and options for 123,267 shares. These grants are outside of the 2014 Stock Incentive Plan and approved under Nasdaq Rule 563(c)(4). The PSUs will vest based on specific financial targets over three years, while RSUs will vest over three years with 50% vesting after the first year. Quotient focuses on revolutionizing diagnostics with its MosaiQ technology.
Quotient Limited (QTNT) reported robust financial results for Q2 FY 2022, with revenues reaching $9.2 million, marking a 15.9% year-over-year growth. Sales to OEM customers increased by 18.6%, while gross margin on product sales stood at 47.5%. The company maintains a solid financial position with $141.8 million in cash and short-term investments, enabling ongoing development of the MosaiQ platform. Despite an increase in operating loss to $23.8 million, the outlook for total product sales for FY 2022 remains unchanged, expected between $35.5 to $36.5 million.
Quotient Limited (NASDAQ:QTNT) announced that its management team will present at the Jefferies London Healthcare Conference on November 16, 2021, at 8:40am GMT (3:40am ET). Interested parties can access a live webcast of the presentation through the investor relations section on Quotient's website, with a replay available for 90 days. Quotient, a company specializing in transfusion diagnostics, offers the MosaiQ platform, a revolutionary testing solution, including the COVID-19 Antibody Microarray, which has received CE marking and FDA Emergency Use Authorization.
Quotient Limited (NASDAQ:QTNT) announced key updates in a recent press release. The executive leadership team has been strengthened to support expected rapid growth. Significant strides were made with the MosaiQ Solution, including a new CE regulatory dossier and ongoing field trials. Alba by Quotient reported strong performance, achieving 15.9% growth year-over-year in Q2 2022. Additionally, the company renegotiated its senior secured notes, reducing cash obligations by approximately $60 million. However, the release of Q2 FY 2022 results has been delayed due to a technical accounting adjustment affecting past financial statements.
Quotient Limited (NASDAQ:QTNT) has announced that it will release its fiscal second quarter financial results for the period ending September 30, 2021, before the market opens on November 9, 2021. A conference call will take place on the same day at 8:00 a.m. ET to discuss these results. Quotient specializes in transfusion diagnostics, leveraging its MosaiQ technology to enhance laboratory efficiencies. Notably, the MosaiQ COVID-19 Antibody Microarray has received CE marking and FDA Emergency Use Authorization.
Quotient Limited (NASDAQ:QTNT) has secured unanimous consent from holders of its 12% Senior Secured Notes to amend the notes' terms. The amendments include an 18-month extension of the maturity to October 2025 and a revised amortization schedule, deferring approximately $60 million in principal payments until April 2023. The company will issue 932,772 ordinary shares and warrants to purchase 1,844,020 ordinary shares at $4 each as part of this agreement. This allows Quotient to enhance liquidity and pursue the commercial launch of its MosaiQ technology.
Quotient Limited (NASDAQ: QTNT) has appointed Ali Kiboro as the new Chief Financial Officer (CFO), effective November 1, 2021. He replaces Peter Buhler, who will assist during the transition before departing at year-end. Kiboro brings over 20 years of global finance experience, including a notable tenure at Quest Diagnostics. CEO Manuel O. Méndez expressed confidence in Kiboro’s abilities to drive revenue growth and execute corporate strategy. Quotient focuses on transforming transfusion diagnostics with its innovative MosaiQ technology.
Quotient Limited (NASDAQ:QTNT) has appointed Mohammad El Khoury as Chief Commercial Officer, effective immediately. With over 30 years of experience, he will lead commercial activities globally and focus on the commercialization of the MosaiQ solution. El Khoury has a history of success at QIAGEN and bioMérieux, where he managed large teams and implemented successful market strategies. In connection with his appointment, he received 300,148 Restricted Stock Units and options for 235,477 shares. His role aims to bolster Quotient's market presence and expand services in transfusion diagnostics.
