Welcome to our dedicated page for Quanterix Corporation news (Ticker: QTRX), a resource for investors and traders seeking the latest updates and insights on Quanterix Corporation stock.
Quanterix Corporation (NASDAQ: QTRX) is a pioneering life sciences company renowned for its groundbreaking ultra-sensitive diagnostic platform. This innovative technology measures individual proteins at concentrations that are up to 1000 times lower than the best immunoassays available today.
At the core of Quanterix's offerings is the Single Molecule Array (Simoa™) technology, which enables the detection and quantification of biomarkers that were previously difficult or impossible to measure. This advancement opens up new applications in various fields, including life sciences research, in-vitro diagnostics, companion diagnostics, and blood screening.
Founded by the esteemed scientist Dr. David Walt, who also co-founded Illumina, Quanterix benefits from a robust intellectual property portfolio initially developed at Tufts University. The company is venture capital-backed and has exclusive licensing rights to this broad IP portfolio.
Quanterix's product lineup is diverse and includes:
- Simoa platform
- Assay Kits
- LDTs & Assay Services
- Simoa p-Tau 217
- Simoa NfL LDT
- Simoa p-Tau 181 LDT
- HD-X Automated Immunoassay Analyzer
- SR-X Biomarker Detection System
- SP-X Imaging and Analysis System
- Simoa Accelerator Laboratory
- Homebrew - Custom Assay Development
- Uman NF-Light
The Simoa bead-based and planar array platforms are designed to detect protein biomarkers in low concentrations in blood, serum, and other fluids, which are undetectable using conventional analog immunoassay technologies.
Quanterix continues to push the boundaries of precision health for life sciences research and diagnostics, tackling significant unmet needs and contributing meaningfully to the scientific community.
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.
Quanterix (NASDAQ: QTRX) has announced the commercial availability of its Simoa® p-Tau 217 Planar Kit for Alzheimer's Disease (AD) test development. This kit utilizes p-Tau 217 antibody technology licensed from Eli Lilly and Company and Quanterix's SP-X platform. The move expands access to this technology, allowing customers to develop p-Tau 217 blood tests and services for research use only (RUO).
This development follows Quanterix's March 2022 announcement of license and collaboration agreements with Lilly. The kit is now available immediately, supporting Quanterix's focus on building a global infrastructure for blood-based AD testing. The company aims to lead in Alzheimer's Disease testing for new research and therapies, ultimately advancing patient care and outcomes.
Quanterix (NASDAQ: QTRX), a leader in ultrasensitive biomarker detection, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. CEO Masoud Toloue and CFO Vandana Sriram will engage in a fireside chat on September 6, 2024, at 1:50 p.m. ET.
The presentation will be accessible virtually, with registration available online. Following the conference, the presentation will be viewable on Quanterix's website in the investor relations section. This event provides an opportunity for investors and stakeholders to gain insights into Quanterix's innovative Simoa® technology and its role in advancing scientific discovery through precise biomarker detection.
Quanterix (NASDAQ: QTRX) has appointed Jeffrey Elliott to its Board of Directors. Elliott brings 20 years of senior leadership experience in the medical diagnostics industry, including 8 years at Exact Sciences Corp. as CFO and COO. His expertise includes finance, strategy, and business development, with a track record of scaling operations and achieving high revenue growth. Elliott's appointment comes at a important time as Quanterix builds infrastructure for Alzheimer's Disease testing.
Elliott's background includes roles as a senior equity research analyst covering health care companies and a CFA® charterholder. He holds a B.S. in Business Administration from the University of Illinois and an MBA from the University of Chicago. Quanterix CEO Masoud Toloue and Board Chairman Martin Madaus expressed enthusiasm about Elliott's addition to the board, citing his valuable experience in scaling operations and financial expertise.
Quanterix (NASDAQ: QTRX) reported Q2 2024 financial results with revenue of $34.4 million, up 10.8% year-over-year. The company's research business showed strong performance, with Accelerator service revenue increasing 35%. However, Quanterix reported a net loss of $9.5 million, an increase of $3.4 million compared to the prior year period.
Key highlights include:
- GAAP gross margin of 58.3%, down from 61.7% in Q2 2023
- Net cash usage of $5.1 million
- Ended the quarter with $299.5 million in cash and equivalents
- Revised 2024 revenue guidance to $134-$138 million
- Presented data at AAIC demonstrating successful validation of a multi-marker approach for Alzheimer's disease detection
- Announced partnerships with Mt. Sinai, Banner Health, UCSF, and KingMed Diagnostics for Alzheimer's diagnostic testing
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