Quanterix Corporation - QTRX STOCK NEWS

Quanterix (NASDAQ: QTRX) has announced a definitive merger agreement to acquire Akoya Biosciences (NASDAQ: AKYA) in an all-stock transaction, creating the first integrated platform for detecting blood- and tissue-based protein biomarkers. Under the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each Akoya share, representing a 19% premium.

The combined entity expects to generate $40 million in annual cost synergies by 2026, with $20 million realized within the first year post-closing. The merged company will have approximately $175 million in cash at closing with no debt, and a combined trailing 12-month revenue of about $220 million as of September 2024.

The transaction is expected to close in Q2 2025, with Quanterix shareholders owning 70% and Akoya shareholders 30% of the combined company. The merger aims to accelerate biomarker translation from research to clinic and expand technology offerings across neurology, oncology, and immunology markets.

Quanterix (NASDAQ: QTRX) announced that David R. Walt, co-inventor of the Company's Simoa technology, has been awarded the National Medal of Technology and Innovation by the President of the United States. This prestigious award, established by Congress in 1980 and first awarded in 1985, recognizes American innovators who have strengthened the nation's economy and improved quality of life through technological innovation.

The medal, administered by the U.S. Patent and Trademark Office, acknowledges Walt's contributions to technological advancement. According to Masoud Toloue, President and CEO of Quanterix, this recognition highlights the significance of Simoa technology in early disease detection using non-invasive methods. The company has established itself as a leader in Neurology and is expanding into Immunology and Oncology markets.

Quanterix (NASDAQ: QTRX), a leader in ultrasensitive biomarker detection, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company's President and CEO, Masoud Toloue, will deliver a presentation on Wednesday, January 15, 2025, at 4:30 p.m. PST at the Westin St. Francis Hotel in San Francisco.

The presentation will be accessible via live webcast through the Investors section of Quanterix's website. The company will also conduct one-on-one meetings with institutional investors during the conference. A replay of the webcast will be available for a time after the event.

Quanterix (NASDAQ: QTRX) announced the acquisition of EMISSION, a Georgetown, TX-based manufacturer of magnetic beads for diagnostic assays. The acquisition, valued at $10 million upfront with potential additional payments of up to $60 million based on technical and performance milestones, is expected to close in January 2025.

This strategic move aims to vertically integrate EMISSION's proprietary bead technology, securing core components for Quanterix's next-generation Simoa platform and enabling OEM opportunities with third-party platforms. The transaction is anticipated to be accretive to revenue and gross margins in 2026.

Quanterix (NASDAQ: QTRX) received a notice from Nasdaq on November 21, 2024, regarding non-compliance with listing rules due to delayed filing of its Q3 2024 Form 10-Q. The company has until January 20, 2025, to submit a compliance plan. The delay is attributed to the need to restate financial statements from 2022-2023 and multiple quarterly periods through Q2 2024. The notice does not immediately affect QTRX's Nasdaq listing, and the company expects to complete all required filings by end of 2024.

Quanterix (NASDAQ: QTRX) reported preliminary Q3 2024 results with revenue of $35.7 million, up 13% year-over-year. The company achieved a GAAP gross margin of 58.9% and reaffirmed its 2024 revenue guidance of $134-138 million. Notable developments include the launch of LucentAD Complete, a multi-marker test for Alzheimer's Disease detection. The company announced the need to restate certain prior period financial statements due to non-cash errors related to inventory valuation, though this is not expected to materially impact previously reported revenues or cash positions. Q3 net cash usage was $3.3 million, with period-end cash and equivalents of $296.1 million.

Quanterix (NASDAQ: QTRX) announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The company will host a conference call at 4:30 p.m. E.T. on the same day to discuss the results. Investors can access the call via toll-free number (800) 715-9871 with Conference ID 2720617, or through a webcast available on the company's website. A replay of the webcast will be accessible for one year on Quanterix's website.

Lucent Diagnostics, a Quanterix (NASDAQ: QTRX) brand, has launched LucentAD Complete, an advanced multi-marker blood test for Alzheimer's Disease detection. The test utilizes a proprietary algorithm analyzing five AD-related biomarkers to improve amyloid classification compared to single-marker tests. In trials across three independent clinical cohorts involving over 1,000 patients, the test reduced the 'intermediate zone' of uncertainty by threefold, minimizing the need for invasive lumbar punctures or costly PET scans. The development was supported by the Alzheimer's Drug Discovery Foundation's Diagnostics Accelerator.

Quanterix (NASDAQ: QTRX) has appointed Dr. Ivana Magovčević-Liebisch to its Board of Directors. With over 25 years of biopharmaceutical industry experience, Dr. Magovčević-Liebisch is the founder, President, and CEO of Vigil Neuroscience. She brings expertise in business development, R&D, and commercialization.

Quanterix CEO Masoud Toloue highlighted the company's Simoa® technology as important for advancing blood-based neuro biomarkers in drug development and clinical trials. Dr. Magovčević-Liebisch expressed excitement about contributing to Quanterix's innovation in ultrasensitive biomarker detection, particularly in the context of emerging therapies for neurodegenerative diseases.

Martin Madaus, Chairman of the Board, emphasized the value of Dr. Magovčević-Liebisch's extensive industry knowledge for Quanterix's expansion into clinical diagnostics.