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Wednesday, September 27, 2023

Quantum-Si Inc. (QSI) Stock Taking Solid Steps Ahead, Here’s the Cause

Quantum-Si Inc. (QSI), a company that operates the first next-generation protein sequencing and genomics platform for healthcare industries, has surged 6.31% in aftermarket trading session and consequently is trading at $6.23 at the time of the writing. The increase could be attributed to the business update provided by the company. On Monday, QSI closed the day at $5.86 after sliding 9.15% during the regular trading session.

Why QSI Gaining?

In the late hours of Monday, QSI released the business update. The company had list prices for its end-to-end protein sequencing platform such that there was PlatinumTM Single-Molecule Analyzer was placed at $70,000 while for CarbonTM automated sample preparation instrument, it was $20,000. The company said that it would begin taking pre-orders in the 1st half of 2022 for delivery at full commercial release. Alongside that, the company posted its first technical manuscript on bioRxiv. The manuscript was titled “Real-time dynamic single-molecule protein sequencing on an integrated semiconductor device,” and it provided a detailed overview of Time Domain Sequencing. The company said that its management would be discussing business updates at the 40th Annual J.P. Morgan Healthcare Conference.

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Q3 2021 Operational Results

In early November, QSI released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company bore total operating expenses of $11.1 million during the quarter against $6.6 million for the same quarter of 2020. The net loss suffered by the company during the three months was $18.09 million against $8.55 million for the same three-month period of 2020. The net loss per basic and diluted share for the period was $0.13 against $1.60 for the same period of 2020.

Executive Commentary

John Stark, Chief Executive Officer of QSI, while commenting on the results stated that the company has made significant progress across its core foundational goals and accelerated all phases of commercial efforts during the third quarter. Looking ahead, the company is well-capitalized to pursue our mission to transform the field of single-molecule protein sequencing and is looking ahead to sharing its progress over the next quarters.

Future Outlook for QSI

The last three months have seen QSI stock decline by approximately 30%. Analysts, however, believe that looking ahead, the stock appears to be in a good position to attract investors for long-term investments. Hence, potential investors should keep a close eye on the performance of QSI stock.

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