Chairman and CEO Kevin Hrusovsky to present at BIO and provide details about the HD-X launch and vision for continuing to pioneer disruption in healthcare with digital biomarkers
Quanterix (QTRX), a company digitizing biomarker analysis with the goal of advancing the science of precision health, announced that it issued approximately 2.2 million shares of common stock last week, raising $49.7 million in gross proceeds. Additionally, Quanterix will unveil its Simoa HD-X Analyzer™, at the BIO International Convention, in Philadelphia, during a presentation by its Chairman and CEO, Kevin Hrusovsky, taking place June 5 at 10:45 a.m., EDT, in Theater 3.
Simoa HD-X Analyzer
Quanterix is re-engineering ultra-sensitivity with the launch of the HD-X, its latest fully automated Simoa bead-based immunoassay instrument model. The HD-X replaces the HD-1, launched in 2013, which first made Simoa’s ultrasensitive digital biomarker measurements available to researchers around the world and which has led to over 500 peer-reviewed publications. The ground-breaking Simoa HD-X Analyzer leverages many decades of collective technical expertise and leadership experience on Quanterix’ management team to transform technological innovation into practical reality for researchers. The new flagship HD-X has been designed to deliver significant productivity improvements, greater user flexibility, unparalleled sensitivity, and best-in-class assay performance across a broad assay menu to empower biomarker research and accelerate drug development.
“Making pioneering breakthrough technology both consistent and reproducible is no small feat,” said Kevin Hrusovsky, Chairman and CEO, Quanterix. “It is only by creating a formidable ecosystem of clinicians, researchers, and investors compelled by the promise of precision health, coupled with incredibly talented engineers and assay scientists at Quanterix, that we have been able to achieve the advances embodied in the new HD-X. This new instrument is a huge step forward for our company but more importantly for the researchers at academic institutions and pharmaceutical companies around the world who depend on Simoa technology to deliver new breakthroughs, develop safer and less toxic drugs, and accelerate the time to get life-saving therapeutics to patients.”
The company is now taking orders for the HD-X, and expects to begin shipping instruments in the fourth quarter of this year. A trade-in program is also available for current HD-1 customers. For more information on the HD-X and how you and your organization can access this groundbreaking technology, visit www.quanterix.com/products-technology/instruments/hd-x or email firstname.lastname@example.org.
QTRX Capital Raise
Since Quanterix’ IPO in 2017, the company has reported significant growth in every quarter. Quanterix filed a shelf registration statement with the Securities and Exchange Commission in March 2019, which included a $50 million at-the-market equity, or ATM, facility to provide the company with the funds to continue investing in innovation and commercial growth. Last week, the company sold approximately 2.2 million shares of common stock under the ATM facility at an average price of approximately $22.73 per share, for gross proceeds of $49.7 million. The proceeds of the newly issued shares will be used to fund additional commercial expansion, particularly in China, to accelerate R&D efforts focused on delivering another 100x in sensitivity improvements, and to support new product acquisition and development. Quanterix’ share price has increased 12% from a close of $22.23 before the first shares were sold under the ATM to $25.00.
“We are thrilled to have been able to attract new investors through our growth momentum and vision for changing healthcare,” continued Kevin Hrusovsky. “Since our IPO we have had numerous investors who have wanted to participate in our value creation but could not due to limited liquidity in our stock, so we are very pleased to have been able to attract some new quality investors, while at the same time putting additional cash on our balance sheet to further fuel our disruption.”