Business
Quanterix Corporation Releases Operating Results for Fourth Quarter and Full Year 2021
Company strengthens balance sheet ending FY with GAAP total revenue growth increase of 28% led by strong performance in neuro-related studies and
About this update from Quanterix Corporation
[{"type":"text","content":"\nCompany strengthens balance sheet ending FY with GAAP total revenue growth increase of 28% led by strong performance in neuro-related studies and applications\n\nExecutive leadership succession plan effective April 25, 2022, to build on the Company's foundation for growth\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nQuanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis with the goal of advancing the science of precision health, today announced financial results for the fourth quarter and twelve months ending December 31, 2021.\n\n“We‘ve reached an important inflection point with the achievement of several key milestones, namely, our license and collaboration agreements with Eli Lilly, FDA Breakthrough Device Designation for plasma pTau-181 for Alzheimer’s disease (AD), and ending a strong 2021 with another record quarter. We have nearly $400 million on our balance sheet and the recruitment of several key executives that strengthen both RUO and diagnostics potential,” said Kevin Hrusovsky, Chairman and Chief Executive Officer, Quanterix. “With our new agreements in place, we now have access to Lilly’s marquis P-tau217 antibody technology for AD and a collaboration framework for future projects across all disease categories. As we build our franchise in 2022, we look forward to partnering with other bio-pharmaceuticals, payors, researchers, and investors to unlock the massive opportunity for asymptomatic medicine using precision health proteomics.”\n\nFor more information on the new agreements with Lilly to advance diagnosis and treatment of Alzheimer’s disease, please see the press release issued today.\n\nQuanterix also announced the Company’s executive leadership succession plan. Effective April 25, 2022, President Masoud Toloue will succeed Chairman & Chief Executive Officer Kevin Hrusovsky as CEO and join Quanterix’ Board of Directors. Hrusovsky will move into an active Executive Chairman role, continuing to serve on the Board and support key strategic initiatives and important customer, partner and investor relationships. For more information on the succession plan, please see the full release issued today.\n\nFourth Quarter 2021 Financial Highlights\n\nKey financial results for the fourth quarter of 2021 are shown below:\n\n\nQ4 GAAP total revenue, which includes grant revenue of $1.0M, was $30.3M vers...