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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 reported a 21.8% increase in revenue for Q1 2022, totaling $23.0 million, compared to $18.9 million in Q1 2021. However, gross margin declined to 49.3% from 66.9% due to high comparables and increased investments in ongoing collaborations. The company faced a net loss of $4.0 million for Q1 2022, an improvement from $9.5 million in Q1 2021. SomaLogic maintains its 2022 revenue guidance at $105 million to $110 million, reflecting 29% to 35% growth over 2021.
SomaLogic (Nasdaq: SLGC) announced it will report its Q1 2022 financial results after market close on May 12, 2022. Management will hold a conference call at 4:30 p.m. ET to discuss the results, which interested investors can access via phone or through a live audio webcast. SomaLogic specializes in AI-driven proteomics technology, aiming to provide actionable health management information based on protein measurements. The SomaScan Platform is noted as being for Research Use Only and has not received FDA clearance for diagnostic purposes.
SomaLogic has developed a groundbreaking 27-protein test using its SomaScan® platform, validated through a study of over 32,000 samples. This test predicts the likelihood of major cardiovascular events over four years, outperforming traditional methods. It demonstrates consistent effectiveness across diverse demographics and can detect risks often missed by standard diagnostics. Currently available under a laboratory developed test designation, this innovative approach could transform drug development and patient care in cardiovascular health.
SomaLogic reported Q4 2021 revenue of $23.0 million, marking an 18.5% decrease from the previous year due to one-time sales in 2020. For the full year, revenue reached a record $81.6 million, a 46.1% growth year-over-year, despite a total net loss of $87.5 million. The company maintained its 2022 revenue guidance of $105-110 million, reflecting 29% to 35% growth. Strategic partnerships and new customer acquisitions were highlighted, as the firm leverages its AI-driven proteomics technology.
SomaLogic (NASDAQ: SLGC) announced it will begin analyzing samples from the EPIC study in Q1 2022 using its SomaScan® Assay. This collaboration aims to develop predictive protein markers in cancer, potentially enhancing diagnostic tools. The EPIC study, one of the largest global cohort studies with 521,000 participants, focuses on the impact of diet and lifestyle on cancer incidence. SomaLogic's efforts, in conjunction with Imperial College London, will create a Centre for Excellence in Proteomics of Cancer, furthering research into chronic diseases.
SomaLogic (Nasdaq: SLGC) announced it will disclose its fourth quarter and full year 2021 financial results after market close on March 29, 2022. A conference call with company management will follow at 4:30 p.m. Eastern Time.
Interested investors can join the call by dialing (844) 535-4027 for domestic calls or (270) 215-9487 for international participants using ID: 2758178. Audio webcasts will also be available on the SomaLogic Investors page.
SomaLogic announced its participation in the Cowen 42nd Annual Health Care Conference on March 9, 2022, scheduled for 11:10 a.m. Eastern Time. The event will feature a fireside chat where company's management will discuss key developments. Interested individuals can access both live and archived sessions through the ‘Investors’ section of SomaLogic's website. The company, listed under Nasdaq: SLGC, specializes in AI-driven proteomics technology aimed at providing actionable health information.
On February 4, 2022, SomaLogic hosted a virtual meeting for analysts and investors to share corporate updates and insights on its SomaScan platform. The company projected 2022 revenues between $105 million and $110 million, building on impressive growth with 2021 revenues expected to exceed $79 million. CEO Roy Smythe highlighted a significant expansion of the commercial team and growing demand in proteomics solutions, which could enhance future business prospects. The platform remains research-focused and not FDA-approved for diagnostics.
On February 2, 2022, SomaLogic, a leader in AI-driven proteomics, announced its participation in two upcoming virtual investor conferences. The company will present at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 15 at 10:30 a.m. ET and at the 11th Annual SVB Leerink Global Healthcare Conference on February 17 at 10:40 a.m. ET. Interested parties can access a live and archived webcast of the SVB Leerink session on the company's website. SomaLogic aims to optimize personal health through its innovative protein measurement technology.
SomaLogic (NASDAQ: SLGC) announced its collaboration with the Multi-Ethnic Study of Atherosclerosis (MESA), beginning in Q1 2022. The company will analyze 105 million protein measurements from 15,000 samples collected over 15 years, focusing on subclinical cardiovascular disease. The data will be accessible to researchers, enhancing understanding of various diseases, including COVID-19 and diabetes. The partnership underlines SomaLogic's commitment to data-sharing, aiming to advance healthcare solutions and improve human health outcomes. This represents a significant milestone in proteomic research.
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