On January 10, Quantum-Si Inc. (QSI) highlighted the business updates that it will present at the 40th Annual J.P. Morgan Healthcare Conference. Consequent to the announcement, the stock picked up after hours to gain 6.31%.
In the regular trading session, QSI stock suffered a loss of 9.51% at its close of $5.86 with 1.53 million shares exchanging. Following the news, the stock reached $6.23 at an after-hours volume of 34.79K shares.
The proteomics protein sequencing platform developer, Quantum-Si Inc. was founded in 2013. Currently, its 117.48 million outstanding shares trade at a market capitalization of $886.33 million.
QSI’s Upcoming Business Updates Presentation
As per Monday’s announcement, the company will be presenting at the 40th Annual J.P. Morgan Healthcare Conference. Moreover, QSI will be providing its business updates in the presentation. These updates include commercial and technology updates, along with an insight into the 2022 strategic focus.
Commercial Updates
The company has concluded its end-to-end protein sequencing platform prices. According to this, i) the PlatinumTM Single-Molecule Analyzer is for $70,000; and ii) CarbonTM automated sample preparation instrument is for $20,000.
In addition, QSI expects to take pre-order in the first half of 2022 for delivery at full commercial release.
Technology Updates
The company has published its first technical manuscript, “Real-time dynamic single-molecule protein sequencing on an integrated semiconductor device” on BioRxiv.
Further, QSI will also provide updates on its progress with External Early Access Partners.
2022 Strategic Focus
On June 10, 2021, the company completed its business combination with HighCape Capital Acquisition Corp. Since then QSI has accomplished various tasks including the successful launch of the early access program, strengthening of the management team and board of directors. Moreover, the company has also expanded its infrastructure for supporting commercialization and growth in the upcoming years.
Q3 Financial Analysis
The company declared its financial results for the third quarter ended September 30, 2021, on November 10.
In the third quarter of 2021, QSI had operating expenses of $25.2 million against $8.6 million in the year-ago quarter. This shows a huge increase of 194% year over year.
Furthermore, QSI suffered from a net loss of $18.1 million in the third quarter of 2021, against $8.6 million in the year-ago period.
In addition, the company ended the third quarter of 2021, with cash, cash equivalents, and marketable securities of $500.2 million on September 20, 2021.
