Singular Genomics Systems(OMIC)

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Singular Genomics Receives Non-Binding Acquisition Proposal from Concentra Biosciences and Tang Capital
GlobeNewswire News Room· 2024-09-19 21:24
Core Viewpoint - Singular Genomics Systems, Inc. has received an unsolicited non-binding acquisition proposal from Concentra Biosciences, LLC to acquire all outstanding shares for $12.00 per share in cash [1] Group 1: Acquisition Proposal - Concentra has proposed to acquire Singular Genomics for $12.00 per share in cash, with an alternative option for stockholders to receive a contingent value right [1] - The proposal was disclosed in a Schedule 13D filed with the SEC, indicating that Tang Capital, the controlling stockholder of Concentra, owns approximately 14.9% of Singular Genomics' outstanding common stock [2] Group 2: Special Committee - Singular Genomics' board of directors has formed a special committee of independent directors to evaluate the acquisition proposal from Concentra along with other potential proposals [3] Group 3: Advisors - TD Cowen is serving as the financial advisor to the Special Committee, while Richards, Layton & Finger, P.A. and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP are providing legal advisory services [5] Group 4: Company Overview - Singular Genomics is a life science technology company focused on next-generation sequencing and multiomics technologies, with products like the G4® Sequencing Platform and the upcoming G4X™ Spatial Sequencer [6]
Singular Genomics to Report Second Quarter 2024 Financial Results on August 13, 2024
Newsfilter· 2024-07-30 21:05
Investors interested in listening to the conference call may do so by dialing 1-888-506-0062 for domestic callers or 1-973-528-0011 for international callers and using conference ID 661035 approximately five minutes prior to the start time. A live and archived webcast of the event will be available at investor.singulargenomics.com in the Presentations & Events section. Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics technologies. The commerciall ...
Singular Genomics to Report Second Quarter 2024 Financial Results on August 13, 2024
GlobeNewswire News Room· 2024-07-30 21:05
Core Insights - Singular Genomics Systems, Inc. will report its financial results for Q2 2024 on August 13, 2024, after market close [1] - A conference call to discuss the results will take place at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time [1] Company Overview - Singular Genomics is a life science technology company focused on next-generation sequencing (NGS) and multiomics technologies [4] - The G4® Sequencing Platform is a key product, designed for fast and accurate genomic sequencing [4] - The company is developing the G4X™ Spatial Sequencer, which will enhance transcriptomics, proteomics, and fluorescent H&E analysis in tissue with spatial context [4] - The mission of Singular Genomics is to empower researchers and clinicians to advance science and medicine [4]
Singular Genomics Announces 1-for-30 Reverse Stock Split
Newsfilter· 2024-06-21 20:05
Core Viewpoint - Singular Genomics Systems, Inc. will implement a 1-for-30 reverse stock split to comply with Nasdaq's minimum bid price requirement, effective June 26, 2024 [1][5]. Group 1: Reverse Stock Split Details - The reverse stock split will convert 30 shares of common stock into one new share, reducing the outstanding shares from approximately 74.7 million to about 2.5 million [6]. - No fractional shares will be issued; holders entitled to a fractional share will receive an additional fraction to round up to the next whole share [6]. - The reverse stock split will not affect the number of Series A Preferred Stock shares, which will remain at 2,500, but will adjust the conversion ratio proportionally [6][10]. Group 2: Company Overview - Singular Genomics is a life science technology company focused on next-generation sequencing and multiomics technologies, with products like the G4® Sequencing Platform and the upcoming G4X™ Spatial Sequencer [3]. - The company's mission is to empower researchers and clinicians to advance science and medicine [3]. Group 3: Administrative Information - Continental Stock Transfer & Trust Company will act as the exchange agent for the reverse stock split, providing stockholders with information regarding their ownership [2]. - The company plans to file an amendment to its certificate of incorporation with the Secretary of State of Delaware around June 25, 2024 [10]. - Additional information regarding the reverse stock split can be found in the definitive proxy statement and current report filed with the SEC [11].
Singular Genomics Announces 1-for-30 Reverse Stock Split
GlobeNewswire News Room· 2024-06-21 20:05
SAN DIEGO, June 21, 2024 (GLOBE NEWSWIRE) -- Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, today announced that on June 26, 2024, effective at 12:01 a.m. Eastern Time, it will effectuate a 1-for-30 reverse split of its common stock. The Company's common stock will begin trading on a split-adjusted basis when the market opens on June 26, 2024 under its current trading symbo ...
Singular Genomics Systems(OMIC) - 2024 Q1 - Earnings Call Transcript
2024-05-15 00:04
Financial Data and Key Metrics Changes - Operating expenses in Q1 2024 totaled $26.4 million, up from $25.4 million in Q1 2023, primarily due to severance costs [13] - Net loss for Q1 2024 was $25 million or $0.34 per share, compared to a net loss of $23.6 million or $0.33 per share in Q1 2023 [13] - Cash burn for Q1 2024 was approximately $23.2 million, higher than the previous quarter, but expected to decrease in Q2 due to cost-saving measures [50] Business Line Data and Key Metrics Changes - Six G4 instruments were shipped in Q1 2024, generating $0.4 million in revenue, with a total of 30 G4 shipments as of March 31 [21][49] - Gross profit was negative $0.4 million in Q1 2024, compared to a positive $0.1 million in Q1 2023, attributed to initial discounts and higher support costs [27] Market Data and Key Metrics Changes - The demand for spatial sequencing solutions is strong and growing, with a focus on addressing throughput limitations in various customer segments [19] - The company is seeing a strong pipeline of new customer opportunities for the G4X across academic, biopharma, and CRO sectors [10] Company Strategy and Development Direction - The company is shifting its focus to spatial sequencing and multiomics, with plans to bring the G4X spatial sequencer to market [8] - The G4X is designed to offer unprecedented throughput for spatial profiling of tissue, with capabilities including Direct-Seq for in situ RNA sequencing [44] - The company aims to launch a 300-gene immuno-oncology panel and expand its Technology Access Services program [25][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the G4X opportunity, highlighting the unique positioning of the company to leverage its sequencing technology in spatial applications [14] - The company anticipates a ramp-up in service projects in the second half of the year, which will be crucial for generating commercial demand for G4X instruments [11] Other Important Information - The company hosted a customer event to foster relationships and discuss opportunities for collaboration on the G4X [10] - The weighted average share count for Q1 2024 was approximately 73.9 million [50] Q&A Session Summary Question: What capabilities need to be added to G4X for its 2025 launch? - The company is focused on product development work to optimize and harden the service offerings before transitioning to a commercial product [53] Question: How is the company balancing support for existing G4 customers while ramping up G4X? - The current installed base of 30 systems is manageable, and the systems are performing well, allowing for minimal support resources [32][33] Question: What is the expected cash burn trend for 2024? - Cash burn in Q2 is expected to be lower sequentially, with a projected reduction in operating expenses of 10% to 15% [34] Question: Can you provide an update on the Technology Access Program (TAP)? - The company has a deep funnel for service projects across academic, biopharma, and CRO segments, with a focus on minimizing customization [36] Question: When can we expect the first publications related to G4X? - The company anticipates starting to see publications later this year, particularly after the 300-gene panel is operational [41] Question: How does the G4 chemistry differentiate the platform from competitors? - The G4X offers speed, flexibility, and a large imaging area, which are enhanced by the optimized chemistry developed over the past five years [63]
Singular Genomics Systems(OMIC) - 2024 Q1 - Quarterly Report
2024-05-14 20:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-40443 Singular Genomics Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation ...
Singular Genomics Systems(OMIC) - 2024 Q1 - Quarterly Results
2024-05-14 20:06
Singular Genomics Reports Recent Highlights and First Quarter 2024 Financial Results San Diego, CA, May 14, 2024 – Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, today highlighted recent corporate achievements and reported financial results for the first quarter ended March 31, 2024. "The first quarter was productive and encouraging. We are focused on supporting our existin ...
Singular Genomics Systems(OMIC) - 2023 Q4 - Annual Report
2024-03-18 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File Number 001-40443 Singular Genomics Systems, Inc. (Exact name of Registrant as specified in its Charter) Delaware 81-2948451 (State or other jurisdic ...
Singular Genomics Systems(OMIC) - 2023 Q3 - Quarterly Report
2023-11-14 21:16
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-40443 Singular Genomics Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdic ...