SomaLogic, Inc. - SLGC STOCK NEWS

SomaLogic, Inc. announced preliminary, unaudited revenue for 2022 is expected to reach $93-98 million, representing approximately 20% year-over-year growth. The company signed a significant agreement with G42 Healthcare to serve as its exclusive proteomics provider in the MENA region. Additionally, SomaLogic extended its contract with Novartis, ensuring continued collaboration through 2033. The company is also optimizing its organization to focus on long-term growth opportunities.

SomaLogic, a leader in proteomics technology, is set to participate in the 41st Annual J.P. Morgan Healthcare Conference on January 12, 2023, at 11:15 a.m. Pacific Time. The conference will allow interested parties to access a live audio webcast of the presentation via the company's website. SomaLogic focuses on providing actionable health-management information through the measurement of proteins, helping individuals optimize their health over time. For further details, visit SomaLogic's investor page.

SomaLogic has announced that FonesLife Corporation will be the first SomaLogic™ Certified Site in Japan, enabling the use of the 7,000-plex SomaScan® Assay in their labs. This partnership will enhance FonesLife's capabilities in the Asia-Pacific region and expedite research by providing local access to SomaScan data. The Certified Site program aims to expand SomaLogic's reach in life sciences and clinical research globally. As of now, SomaLogic has processed over 550,000 samples and continues to grow its network of certified sites across various regions.

SomaLogic, a leader in proteomics technology, has launched its global SomaLogic™ Certified Site program, enabling institutions to run the 7,000-plex SomaScan® Assay in their labs. This program allows certified labs to conduct research and generate revenue as service providers. The SomaScan Assay measures over 7,000 proteins per sample and provides various assay kits for different sample types. Certified sites, including those at the NIH and Washington University, receive extensive support, training, and equipment servicing. New sites are expected to be added in 2023 across multiple regions.

SomaLogic is conducting a randomized controlled study involving 248 physicians to assess whether SomaSignal tests improve risk stratification for cardiovascular disease. The research, led by UCSF, aims to determine if these tests enhance the prescription of drugs like SGLT2 inhibitors and GLP-1 receptor agonists for high-risk patients. Previous findings indicated difficulties with traditional risk factors. A positive outcome could significantly influence clinical practice and patient treatment alignment with medical guidelines. The complete study will be published in a peer-reviewed journal.

SomaLogic (NASDAQ: SLGC) reported a strong third quarter 2022, with revenues reaching $41.7 million, up 108.6% year-over-year. Core life sciences revenue was $20.5 million, marking a 45.4% sequential growth. The company raised its full-year revenue guidance to $93 to $98 million, aided by $21.2 million in licensing royalties. Despite operational expenses growing, SomaLogic is on track to reduce costs by $75 million through 2023, maintaining a robust cash position of $566.3 million.

SomaLogic announced a partnership with Singapore-based Molecular Genomics, launching the 7,000-plex SomaScan Assay in Asia. This collaboration aims to enhance multi-omics services in Southeast Asia, combining SomaLogic’s proteomics platform with genomics analysis. The partnership aligns with the growing demand for clinical research and life sciences in the region. SomaLogic's SomaScan can perform approximately 7,000 protein measurements from a single blood sample and has processed over 550,000 samples to date.

SomaLogic (NASDAQ: SLGC) announced its participation in the upcoming American Heart Association Scientific Sessions, where it will lead five discussions highlighting the role of proteomics in cardiovascular health. Key studies will explore protein signatures related to cardiometabolic health, stroke, and COVID-19 outcomes. Sessions are scheduled from November 5-7, 2022, in Chicago. This event aims to showcase the potential of proteomic technologies in transforming patient care through precise health insights.

The National Institutes of Health recently conducted a technical assessment of the 7K SomaScan^® Platform, revealing its strengths in proteome coverage, sensitivity, and low variability. The study evaluated 2,050 plasma samples across 102 subjects, confirming the platform's capability in biomarker discovery and diagnostic applications. SomaLogic's Chief Medical Officer emphasized the platform's power in measuring protein concentrations, stating it significantly outperformed traditional assays. This independent validation supports SomaLogic's ongoing improvement and growth in proteomic research.