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SomaLogic, Inc. (Nasdaq: SLGC) is a pioneering company in the field of proteomics, dedicated to transforming healthcare through innovative solutions for detecting and diagnosing diseases. Founded in 2000, SomaLogic leverages decades of aptamer research to offer cutting-edge proteomic technologies that surpass current industry challenges. The company's proprietary platform facilitates the measurement of 11,000 proteins from a single 55-microliter plasma or serum sample, covering a substantial portion of the human proteome.
SomaLogic's mission is to revolutionize life sciences and clinical diagnostics by discovering, developing, and commercializing revolutionary research tools and diagnostic products. Over the past 20 years, the company has worked closely with pharmaceutical firms, academic institutions, and contract research organizations to fuel advancements in drug discovery, disease understanding, and treatment development, particularly in areas such as oncology, diabetes, cardiovascular, liver, and metabolic diseases.
In recent developments, SomaLogic has been at the center of a proposed merger with Standard BioTools, Inc. (Nasdaq: LAB). This transaction has sparked significant debate among stakeholders, with some expressing opposition and filing lawsuits, while others, including SomaLogic's board, advocate for the merger, citing potential value maximization benefits. The final outcome will be determined following stockholder votes and customary closing conditions, with the merger expected to finalize in early 2024.
For more information about SomaLogic, visit somalogic.com or contact their team at information@somalogic.com or 303-625-9000.
SomaLogic, a leader in proteomics technology, has announced it will report its financial results for the first quarter of 2023 on May 11, 2023, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss the financial metrics and insights. Interested participants are encouraged to register online more than 15 minutes prior to the call. The company focuses on delivering actionable health-management information through its SomaScan Platform, which measures changes in proteins over time. It operates under the Nasdaq ticker SLGC and emphasizes its commitment to empowering individuals to enhance their health and wellness. The SomaScan Platform is designated for research use only and is not FDA approved.
SomaLogic reported Q4 2022 revenue of $18.8 million, representing an 18.1% decline from Q4 2021. For the full year 2022, revenue totaled $97.7 million, a 20% increase year-over-year. The company anticipates 2023 revenue between $80 million and $84 million, reflecting 12-17% growth over 2022. A management transition includes Adam Taich as interim CEO following the departure of former CEO Roy Smythe. Cash and investments stand at $539.6 million. The company is exploring strategic options, backed by a newly appointed board of directors.
SomaLogic, a leader in proteomics technology, has successfully processed 4,000 plasma samples from the China Kadoorie Biobank (CKB), delivering over 28 million data points using its 7,000-plex assay. This data will merge with genetic, lifestyle, and health outcome information to explore various research questions. The CKB study aims to uncover the genetic and environmental causes of chronic diseases among the Chinese population. The collaboration promises substantial advancements in disease understanding and risk prediction. SomaLogic's SomaScan Platform has already processed over 550,000 samples, showcasing its extensive application in proteomics research.
SomaLogic, a leader in proteomics technology, will release its financial results for the fourth quarter and full year of 2022 on March 28, 2023, after market close. A conference call with management will occur at 4:30 p.m. ET to discuss these results. Interested participants can register for the call online and access a live and archived version of the webcast on the company’s investor relations page. SomaLogic focuses on providing actionable health-management information through its SomaScan Platform, aimed at optimizing personal health via protein measurement.
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