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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 (NASDAQ: SLGC) will announce its third quarter 2022 financial results on November 14, 2022, before market opens. An audio webcast for the results will start at 8:30 a.m. ET on the same day. Investors are invited to participate by registering 15 minutes prior to the call. SomaLogic focuses on AI data-driven proteomics technology aimed at providing personalized health management information through protein measurement.
SomaLogic (NASDAQ: SLGC) has appointed board member Troy Cox as Executive Chair of its Board of Directors, effective October 17, 2022. Cox brings over 30 years of experience in life sciences, previously serving as President and CEO of Foundation Medicine and senior roles at Genentech and UCB BioPharmaceuticals. CEO Roy Smythe highlighted Cox's instrumental role in SomaLogic's strategic progress, particularly during its Nasdaq listing. The change follows Chuck Lillis's near three-year tenure as Chair, who will remain a board member. Cox is optimistic about SomaLogic's future in proteomics.
SomaLogic (NASDAQ: SLGC) announced that Chief Medical Officer Steve Williams has been awarded the 2022 C-Suite Award by the Denver Business Journal. This recognition highlights his impactful contributions to the company and the healthcare industry. Under his leadership, SomaLogic has innovated diagnostic tests using AI and extensive protein measurement data from 450,000 samples. His team developed a blood test predicting cardiovascular risks and is also researching applications in Covid-19 patients. SomaLogic aims to enhance health management through large-scale protein measurements.
BOULDER, Colo., Sept. 14, 2022 - SomaLogic announced participation in the Capital One Spatial Biology & Proteomics Summit on September 28. Roy Smythe, the CEO, will join two panel discussions: "Proteomics: Everything You Wanted to Know, But Were Afraid to Ask" at 10:15 a.m. ET, and a CEO panel at 1:00 p.m. ET. Live and archived webcasts will be available on the company’s website. SomaLogic (Nasdaq: SLGC) focuses on AI-driven proteomics to provide actionable health information through personalized protein measurement.
On August 31, 2022, SomaLogic, a leader in AI-data driven proteomics technology, announced its participation in the Morgan Stanley 20th Annual Global Healthcare Conference in New York. CEO Roy Smythe will host a fireside chat on September 14, 2022, at 12:20 p.m. ET. The event will be accessible via a live and archived webcast on the company’s investor relations website. SomaLogic (Nasdaq: SLGC) focuses on providing actionable health-management information derived from personalized protein measurements, empowering individuals in their health optimization journey.
SomaLogic reported second quarter 2022 revenue of $14.1 million, down 28.5% from 2021. Year-to-date revenue reached $37.1 million. The company revised its 2022 revenue guidance to $80-90 million due to variability in its service business and macroeconomic factors. It maintained a strong cash position of $619.1 million and is reducing operating expenses by $75 million through the end of 2023. Strategic plans include the acquisition of Palamedrix and the integration of Illumina for a 2024 product launch.
SomaLogic (NASDAQ: SLGC) has announced its acquisition of Palamedrix, Inc., an innovator in DNA nanotechnology, for $35 million. The deal includes $14 million in cash and $21 million in common stock, with potential future payments of up to $17.5 million based on revenue milestones. This strategic acquisition aims to enhance SomaLogic's SomaScan Platform by integrating Palamedrix's miniaturization technology and biosensor expertise, facilitating growth in biopharma and diagnostics markets. The transaction is expected to finalize in Q3 2022 and will not impact 2022 revenues.
SomaLogic announced it will report financial results for Q2 2022 on August 15, 2022, after market close. Management will hold an audio webcast at 4:30 p.m. ET to discuss these results. Interested parties can register to listen to the call online, and a replay will be available after the event. The company focuses on delivering actionable health-management information through its AI-driven proteomics technology. SomaLogic operates a CLIA certified and CAP accredited laboratory, although its SomaSignal™ tests are not FDA cleared or approved.
SomaLogic (NASDAQ: SLGC) announced a licensing agreement with OncoHost to utilize its SomaScan® Platform for developing proteomics tests aimed at predicting patient responses to immunotherapy. The collaboration includes establishing a lab in North Carolina for protein measurements, enhancing personalized cancer therapy strategies. SomaLogic has developed 20 tests for various conditions and plans to expand to 30 tests in 2022. The SomaScan Platform can measure 7,000 proteins per sample, with expectations to reach 10,000 soon. This partnership showcases the growing impact of proteomics in oncology.
SomaLogic, a leader in AI-driven proteomics technology, announced its participation in several upcoming conferences. Key events include:
- Jefferies Healthcare Conference on June 8-9, 2022, in New York.
- 7th Annual MarketsandMarkets Conference on June 16, 2022, in San Diego, featuring a presentation on high-throughput protein detection.
- MultiOmics in Precision Medicine on June 22, 2022, in Boston, addressing diabetes and cardiac event screening.
- Precision Medicine World Conference on June 28, 2022, in Santa Clara, discussing cardiovascular risk stratification.
- Cowen Tools/Dx Revolution panel on June 28, 2022, in Boulder, CO.
For more details, visit www.somalogic.com.
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