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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, Inc. announced preliminary, unaudited revenue expectations exceeding $79 million for the year ending December 31, 2021, marking a 41% year-over-year growth. This figure surpasses the upper end of their previously raised revenue guidance. The company attributes this growth to a transformative year, aided by over $630 million in new funding. Additionally, SomaLogic has formed an exclusive partnership with Illumina to develop NGS-based proteomic solutions. Further details on financial performance will be shared during their Analyst & Investor Day on February 4, 2022.
SomaLogic (NASDAQ: SLGC) announced the appointment of Adam Taich as Chief Business Officer, a newly created role aimed at enhancing the company’s strategic and business development efforts. Adam, with over 20 years of experience in the life sciences sector, previously served as Vice President at Thermo Fisher Scientific. His expertise is expected to support SomaLogic’s growth in the proteomics field. CEO Roy Smythe expressed confidence in Adam’s ability to drive significant advancements for the company.
On January 7, 2022, SomaLogic announced a virtual Analyst and Investor Meeting scheduled for February 4, 2022. This meeting will showcase the company's advancements in proteomics and its financial profile, aimed at outlining future growth plans. Additionally, company leadership will present at the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022. Both events will be accessible via the company’s website. SomaLogic (Nasdaq: SLGC) focuses on delivering actionable health-management insights through personalized protein measurements.
SomaLogic (NASDAQ: SLGC) announced a strategic collaboration with Illumina to integrate genomic and proteomic technologies. This partnership aims to develop co-exclusive, next-generation sequencing (NGS)-based proteomics products, leveraging SomaLogic's expertise in measuring over 7,000 human proteins and Illumina's commercial infrastructure. The agreement enhances research capabilities and aims to accelerate multi-omics studies. SomaLogic has plans to expand its measurement capacity to 10,000 proteins within the year. Financial terms of the deal were not disclosed.
SomaLogic, a leader in AI-driven proteomics technology, will participate in the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 11:15 a.m. Eastern Time. The company's management will present, and interested parties can access a live audio webcast through the Investors section of their website. SomaLogic aims to provide actionable health-management information derived from personalized protein measurements, empowering individuals to optimize their health. For more information, visit their website or follow them on Twitter.
On December 9, 2021, SomaLogic (NASDAQ: SLGC) announced a groundbreaking study in Nature Genetics. Researchers utilized SomaLogic's SomaScan Assay to analyze blood proteins from 35,559 Icelanders, correlating them with 27 million genetic variants. This extensive analysis yielded over 257,490 genetic associations, with 94% of proteins showing related pQTLs, presenting potential drug targets and a roadmap for understanding diseases more deeply.
SomaLogic (NASDAQ: SLGC) has appointed Steve Mermelstein as Senior Vice President of Corporate Strategy, Development, and Mergers and Acquisitions. With over 25 years of experience in life sciences and corporate finance, Mermelstein previously held leadership roles at Agilent Technologies and Covington Associates. CEO Roy Smythe emphasized that Mermelstein's expertise positions SomaLogic for successful inorganic growth in the proteomics space. The company aims to deliver actionable health-management information through its innovative proteomics technology.
SomaLogic reports a robust 40% increase in Q3 revenue to $20 million and a 112% rise in year-to-date revenue to $58.6 million compared to 2020. The company raises its 2021 revenue guidance to $77-$79 million, reflecting a 38% to 41% growth from last year. The customer base expands with the addition of 61 new accounts, supported by a tripling of the sales team. Despite these gains, the net loss for Q3 was $41.4 million, highlighting ongoing challenges including increased R&D and administrative expenses.
SomaLogic, a leader in AI-driven proteomics technology, will participate in the Stifel 2021 Virtual Healthcare Conference. The management team is scheduled for a fireside chat on November 17, 2021, at 11:20 a.m. ET. Interested investors can access the live and archived webcast through the company’s website. SomaLogic aims to provide actionable health-management insights by measuring protein changes over time, enhancing individual health and wellness. For more details, visit www.somalogic.com.
SomaLogic (NASDAQ: SLGC) has announced a strategic collaboration with University Hospitals Cleveland Medical Center to evaluate its SomaSignal™ tests for managing diabetic patients at risk of cardiovascular disease. This partnership aims to leverage proteomic data to identify at-risk patients and enhance treatment effectiveness. The collaboration includes clinical trials and aims to integrate proteomics into healthcare to improve outcomes and reduce costs. SomaLogic's technology can analyze approximately 7,000 proteins from a small sample, supporting healthcare providers in making informed decisions.
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