Business
Quantum-Si Reports Fourth Quarter and Fiscal Year 2022 Financial Results
The Company began shipments of Platinum™ instruments and expects to book revenue in Q1 2023 The Company projects an extended cash runway into 2026 GUILFORD,
About this update from Quantum-si Incorporated
[{"type":"text","content":"\nThe Company began shipments of Platinum™ instruments and expects to book revenue in Q1 2023\n\nThe Company projects an extended cash runway into 2026\n\n GUILFORD, Conn.--(BUSINESS WIRE)--\nMarch 6, 2023--Quantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si,” “QSI” or the “Company”), The Protein Sequencing Company™, today announced financial results for the fourth quarter and fiscal year ended December 31, 2022.\n\nRecent Business Highlights\n\n\nLaunched Platinum, the world’s first next-generation single-molecule protein sequencing system, in December 2022 and began shipping orders early in Q1 2023.\n\n\nHired Grace Johnston, Ph.D. as Chief Commercial Officer and added key sales and market development personnel to scale up commercial operations.\n\n\nPartnered with Aviva Systems Biology, a leading provider of antibody, protein, and immunoassay reagent products, to co-develop sample preparation kits for protein sequencing research workflows with Platinum.\n\n\nAnnounced a partnership and license agreement with Biovista, an AI-driven bioscience firm, to integrate Biovista’s database and visualization technology into Quantum-Si’s Cloud analytics to advance proteomics research, biomarker discovery, and drug development applications.\n\n\nJoined the Human Proteome Organization (HUPO) Industrial Advisory Board (IAB) in support of its mission to promote proteomics technologies, techniques and training to better understand human disease.\n\n\nCommitted to an organizational restructuring designed to decrease our costs and create a more streamlined organization to support our business.\n\n\nFiscal Year 2022 Business Highlights\n\n\nStrengthened the Executive Management team with the additions of Jeff Hawkins as Chief Executive Officer and Patrick Schneider as President and Chief Operating Officer, among others.\n\n\nAdvanced technology capabilities by demonstrating the recognition of 15 out of 20 amino acids, representing a path to more than 70% coverage of the human proteome, identification of up to 90% of proteins, as well as a greater understanding of protein sequence variation and post-translational modifications (PTMs).\n\n\nPublished the technology paper entitled “Real-time dynamic single-molecule protein sequencing on an integrated semiconductor device,” in Science. This is the first paper from any company demonstrating protein se...