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Quotient Limited (NASDAQ:QTNT) announced the resignation of Chief Operating Officer Ed Farrell, effective December 21, 2021, due to personal reasons. CEO Franz Walt acknowledged Farrell's contributions over seven years and confirmed that the company will not seek a replacement, with Farrell's direct reports now reporting to Walt. Quotient focuses on advancing its innovative MosaiQ technology, a diagnostic platform designed to enhance efficiency and reduce costs in laboratories worldwide, including their COVID-19 Antibody Microarray, which has received CE marking and Emergency Use Authorization from the FDA.
Quotient Limited (NASDAQ:QTNT) has received a request from the U.S. FDA for additional testing data for its 510(k) application for the Initial Serological Disease Screening Microarray (SDS) and MosaiQ instrument. The company plans to re-submit its application in early 2021 and aims for FDA clearance by mid-2021. Quotient does not anticipate this request to impact the commercial launch of the MosaiQ platform in the U.S. significantly. The MosaiQ technology is designed to enhance diagnostic testing efficiency and is being utilized in COVID-19 antibody testing, which has received Emergency Use Authorization.
Quotient Limited (NASDAQ:QTNT) announced preliminary EU field trial data for its MosaiQ Expanded Immunohematology Microarray, showing high accuracy in blood donor testing. Over 4000 samples yielded a concordance rate of 100% for several antigen types, and 99% for others. The company aims for CE mark submission by year-end and plans a US field trial with initial results expected mid-2021. Quotient's technology promises to enhance lab efficiency and lower operational costs.
Quotient Limited (NASDAQ: QTNT) announced participation in two upcoming virtual investor conferences. The Stifel Virtual Healthcare Conference is on November 17, 2020, at 8:00am ET, while the Jefferies Virtual London Healthcare Conference will be held on November 18, 2020, at 9:40am ET (2:40pm GMT). Both presentations will be webcasts that can be accessed on the company’s investor relations page. Quotient Limited, with over 30 years in transfusion diagnostics, focuses on innovative solutions like its MosaiQ technology, aimed at enhancing diagnostic efficiencies.
Quotient Limited (QTNT) has secured FDA Emergency Use Authorization for its MosaiQ COVID-19 antibody microarray, showcasing its flexibility and high accuracy. The company reported $16.1 million in revenue for Q2 FY2021, driven by strong sales in Alba by Quotient reagents and initial sales from the MosaiQ platform. A binding agreement with Ortho Clinical Diagnostics could bring up to $67.5 million in milestones. Quotient has a strong cash position of $171.8 million post an equity raise, supporting upcoming product launches in the donor transfusion market.
Quotient Limited (NASDAQ:QTNT) will release its fiscal second quarter financial results for the period ending September 30, 2020, on November 2, 2020, before market open. The company will host a conference call at 8:00 a.m. ET the same day, accessible via U.S. and international dialing options. Quotient is known for its proprietary MosaiQ technology, aimed at revolutionizing diagnostics. A COVID-19 antibody test developed by Quotient is CE marked and authorized for use in the U.S., EU, UK, and Switzerland, showcasing its commitment to innovation in diagnostic solutions.
Quotient Limited (NASDAQ:QTNT) announced on September 25, 2020, that the FDA granted an Emergency Use Authorization for its COVID-19 antibody test, utilizing its proprietary MosaiQ blood testing technology. This test, already CE marked in May 2020, is designed to detect antibodies to SARS-CoV-2. The company has secured contracts for the test's distribution in the U.S., including a partnership with Bloodworks Northwest for convalescent plasma sourcing. The MosaiQ system's efficacy is supported by independent studies, showcasing 100% clinical specificity and over 98% sensitivity.
Quotient Limited (NASDAQ:QTNT) has received an Emergency Use Authorization (EUA) from the FDA for its COVID-19 antibody test, utilizing the MosaiQ blood testing technology. This milestone marks the first FDA authorization for a MosaiQ test. The antibody test, already CE marked in Europe, boasts high accuracy, with clinical specificity at 100% and sensitivity over 98%. The MosaiQ system can conduct up to 3,000 tests daily, making it efficient for high-volume testing needs. Quotient aims to leverage this achievement for future FDA approvals of its blood testing products.
Quotient Limited (NASDAQ: QTNT) announced the successful closing of its public offering of 20,294,117 ordinary shares at $4.25 each, generating approximately $80.5 million in net proceeds. This includes the full exercise of underwriters' option to purchase an additional 2,647,058 shares. The funds will primarily support the ongoing development and commercialization of MosaiQ, alongside general corporate purposes. Goldman Sachs & Co. LLC and Cowen and Company, LLC are joint book-running managers for the offering.
