Singular Genomics Reports Instrument Shipments and Preliminary Unaudited Fourth Quarter 2023 Revenue
08 1월 2024 - 7:00AM
Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company
leveraging novel next-generation sequencing (NGS) and multiomics
technologies to empower researchers and clinicians, today announced
instrument shipments and preliminary unaudited revenue for the
fourth quarter of 2023.
The Company shipped eight G4 instruments in the
fourth quarter of 2023. Preliminary unaudited revenue for the
fourth quarter of 2023 is expected to be approximately $1.0
million, representing growth of approximately 31% compared to $765
thousand during the fourth quarter of 2022.
“We are proud of the momentum we built
throughout 2023, increasing our installed base of instruments and
recently launching two high-impact consumable kits: the F3 flow
cells and Max Read flow cells,” said Drew Spaventa, Chairman and
Chief Executive Officer of Singular Genomics. “In 2024, we look
forward to aggressively building our installed base of instruments,
bringing exciting new products to market, and delivering
exceptional service to our customers.”
These preliminary results are based on
management’s initial analysis of operations for the fourth quarter
of 2023 and are subject to further internal review and audit by
Singular Genomics’ external auditors. Singular Genomics plans to
release its full fourth quarter and 2023 financial results in March
2024.
About Singular Genomics Systems,
Inc.Singular Genomics is a life science technology company
that develops next-generation sequencing and multiomics
technologies. The commercially available G4 Sequencing Platform is
a powerful, highly versatile benchtop genomic sequencer designed to
produce fast and accurate results. In addition, Singular Genomics
commenced development of the PX system, which leverages Singular’s
proprietary sequencing technology, applying it as an in situ
readout to look at RNA and proteins in single cells and tissue.
Singular Genomics’ mission is to empower researchers and clinicians
to advance science and medicine. Visit www.singulargenomics.com for
more information.
Forward-Looking Statements
Certain statements contained in this press release, other than
historical information, constitute forward-looking statements
within the meaning of the federal securities laws. Forward-looking
statements include, but are not limited to, statements regarding:
(i) our preliminary unaudited revenue estimate for the fourth
quarter of 2023; (ii) our expectations regarding future revenue and
the future adoption and utilization of our technology; (iii) our
ability to successfully manufacture, commercialize and support the
G4 and our flow cell kits in accordance with our timelines,
objectives and specifications; and (iv) quotes of management. Any
such forward-looking statements are based on our management’s
current expectations and are subject to risks and uncertainties
that could cause our actual future results to differ materially
from our management’s current expectations or those implied by our
forward-looking statements. These risks and uncertainties include,
but are not limited to, the following: (i) our preliminary
unaudited revenue estimate for the fourth quarter of 2023 is
subject to material changes and adjustments as we complete our
financial closing procedures and our financial statements are
reviewed and audited by our external auditors; (ii) we have
incurred significant losses since inception, we expect to incur
significant losses in the future and we may not be able to generate
sufficient revenue to achieve and maintain profitability; (iii) we
have very little history manufacturing and commercializing our
products or technology; (iv) the life sciences technology market is
highly competitive, and if we fail to compete effectively, our
business and operating results will suffer; (v) if we are sued for
infringing, misappropriating or otherwise violating intellectual
property rights of third parties, such litigation could be costly
and time consuming and could prevent or delay us from developing or
commercializing our products; (vi) if our products fail to achieve
early customer and scientific acceptance, we may not be able to
achieve broader market acceptance for our products, and our
revenues and prospects may be harmed; (vii) we expect to be highly
dependent upon revenue generated from the sale of the G4 and future
products, and any delay or failure by us to successfully
manufacture and commercialize the G4 and future products could have
a substantial adverse effect on our business and results of
operations; and (viii) recent macroeconomic challenges such as
inflation and rising interest rates may materially and adversely
impact our business, operations, product manufacturing and
commercialization objectives. These and other risk factors that may
affect our future results of operations are identified and
described in more detail in our most recent filings on Forms 10-K
and 10-Q and in other filings that we make with the SEC from time
to time, including our Quarterly Report on Form 10-Q for the period
ended September 30, 2023, filed with the SEC on November 14, 2023.
Accordingly, you should not rely on forward-looking statements as
predictions of future events or our future performance. Except as
required by law, we undertake no obligation to update publicly or
revise any forward-looking statements contained herein, whether as
a result of any new information, future events, changed
circumstances or otherwise.
Investor Contact
Matt
Clawson949-370-8500ir@singulargenomics.com
Media Contact
Dan Budwick, 1AB973-271-6085dan@1abmedia.com
Singular Genomics Systems (NASDAQ:OMIC)
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부터 4월(4) 2024 으로 5월(5) 2024
Singular Genomics Systems (NASDAQ:OMIC)
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