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Tuesday, May 30, 2023

Quantum-Si Inc. (QSI) Stock Exhibits Minor Volatility as it Continues Penetrating Proteomic Market

Quantum-Si Inc. (QSI) stock prices were down by 1.85% as of the market closing on September 21st, 2021. This brought the price per share down to USD$8.47 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 0.71%, bringing it up to USD$8.53.

Promising Q2 2021

QSI stock recently announced the completion of its business combination with HighCape Capital Acquisition Corp. This acquisition reportedly added more than USD$511 million in cash to the company’s balance sheet. The second quarter of fiscal 2021 also saw the company announce having successfully delivered three additional early access systems. The systems were delivered to key thought leaders in proteomics and single-molecule sequencing to support product development. This brings the total number of delivered systems up to 5 under its early access program. QSI stock continues to actively partner with the key leaders to conduct studies that demonstrate the power of single-molecule protein sequencing.


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QSI Stock Fosters Growth

The company reported its intent to continue scaling operations to support further growth. To this end, QSI stock has significantly increased its headcount. The company has also recently entered into an agreement to develop its San Diego state-of-the-art facility, which will span 25,000 square feet. These efforts will serve to drive the company’s commercialization efforts, thereby consolidating the company as a leader in the field of single-molecule protein sequencing.

Financial Indicators of Expansion

Operating expenses for the second quarter of fiscal 2021 came in at USD$32.2 million. This is comparable to the USD$8.2 million reported in the prior year quarter, representing a 292% year over year increase. Research and development costs for the 2021 quarter were reported in the amount of USD$13.1 million. This is up from the USD$6.6 million for the second quarter of fiscal 2020.

Additional QSI Stock Financials

Selling, general, and administrative costs for the second quarter of fiscal 2021 came in at USD$19.1 million. This is up massively from the USD$1.6 million reported in the second quarter of fiscal 2020. Net loss for the quarter came in at USD$35.7 million, as compared to a net loss of USD$8.2 million in the prior year quarter.

Future Outlook for QSI Stock

QSI stock is poised to capitalize on the momentum generated over the first half of fiscal 2021. It has allocated resources towards setting the stage to spearhead the burgeoning superconductor and proteomics markets. Current and potential investors are confident that management will be able to leverage the resources at their disposal. This is hoped to facilitate consistent and significant increases in shareholder value.

 

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