Quanterix Corp 8-K, filed Jan 16, 2020
Quanterix Corp (QTRX)
About this 8-K
Quanterix Corp filed this 8-K on January 16, 2020, reporting on events of January 15, 2020.
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 2020
QUANTERIX CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 001-38319 | 20-8957988 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
900 Middlesex Turnpike Billerica, MA |
01821 |
| (Address of principal executive offices) | (zip code) |
Registrant’s telephone number, including area code: (617) 301-9400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging Growth Company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||
| Common Stock, $0.001 par value per share | QTRX | The Nasdaq Global Market |
| Item 2.02 | Results of Operations and Financial Condition. |
On January 15, 2020, Kevin Hrusovsky, President, Chief Executive Officer and Chairman of Quanterix Corporation (the “Company”), disclosed certain preliminary, unaudited estimated financial information for the fourth quarter and year ended December 31, 2019 (the “Estimated Information”) during the Company’s presentation at the 38th Annual J.P. Morgan Healthcare Conference (the “Conference”). The Estimated Information included preliminary, unaudited estimated revenue for the quarter ended December 31, 2019 of between $15.5 million and $16.3 million and for the year ended December 31, 2019 of between $56.3 million and $57.1 million. A copy of the slides containing the Estimated Information presented at the Conference is furnished as Exhibit 99.1 and is incorporated herein by reference.
The Estimated Information is unaudited and preliminary and does not present all information necessary for an understanding of the Company’s financial condition as of December 31, 2019 and its results of operations for the quarter and year ended December 31, 2019. This Estimated Information is subject to completion of the Company’s normal quarter and year-end close procedures. These procedures and the audit of the Company’s financial statements for the year ended December 31, 2019 are ongoing and could result in changes to the Estimated Information.
The information in this Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description |
| 99.1 | Slides containing the Estimated Information presented at the Conference. |
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this report include the preliminary, unaudited estimated financial information for the fourth quarter and year ended December 31, 2019. These forward-looking statements involve risks and uncertainties. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements are discussed in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” sections contained therein. Except as required by law, the Company assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| QUANTERIX CORPORATION | ||
| By: | /s/ Amol Chaubal | |
| Amol Chaubal | ||
| Chief Financial Officer | ||
Date: January 16, 2020
Exhibit 99.1
J.P. Morgan Healthcare Conference | January 15, 2020 | 1 Compelling and Rare Investment Thesis EXECUTION Short - term to Mid - term: 2 – 3x Low Risk Research Value Creation x Adoption pace; $0 to $57M in 5 yrs x Technology and application validation x Low regulatory or reimbursement risk x Proven management, board and founder x Strong economic profile, early penetration x Solid balance sheet; multiple growth catalysts x Investor business development engine / PPH x IP strength and Nextgen roadmap ASPIRATION Mid - term to Long - term: 10 – 15x High Value Diagnostic Disruption x Precision health body of evidence x Disruptive “sensitivity” in all “omics” x Regained 100% of diagnostic rights x Blood based, low cost and high optionality x Neuro toolkit, liquid biopsy, single cell, drug rescue x Short - term LDT, Longer - term IVD and POC x Abbott, Quest, Labcorp , Siemens, Roche x Management team well positioned
J.P. Morgan Healthcare Conference | January 15, 2020 | 2 Scientific Research & Excellence in Execution driving Performance PUBLICATIONS* MARKERS* Revenue $m 363 155 159 104 56 15 206 18 409 16 17 19 677 Other Neurology Oncology 68 218 36 190 15 16 18 17 19 133 53 259 322 * Cumulative x Compelling rev growth & GM expansion x Launched HD - X and SP - X x Full Year Consumables growth 75%+ x Raised ~$120m growth capital x Acquired Uman Dx to protect pivotal brain biomarker x Siemens Nf - L license & Techne deal x Nf - L in a record 50 pubs at ECTRIMS (MS) and strong showing at AAIC (AD) x Incredible publication and new biomarker growth x Strengthened team / new facility x Lead sponsor at Powering Precision Health Summit 2019 10.9 18 15 37.6 16 17 19 12.2 17.6 22.9 +44% +30% +64% Q1 Q2 Q3 Q4 % Growth +64% +57% +41% +46% “ 4% Q4 2019 and FY 2019 information are preliminary, unaudited estimates and are subject to the Company’s normal quarter and year - en d close procedures. These procedures and the audit of the Company’s financial statements for the year ended December 31, 2019 are on goi ng and could result in changes to such estimated information. +51% “ 1% 56.7 “ 0.4 15.9 “ 0.4
J.P. Morgan Healthcare Conference | January 15, 2020 | 3 Neurology Oncology Strategy Financials Technology 50%+ utilization SP - X Launch IVD partnership Accelerate via M&A LT Growth: 40% GM: +300 bps Inst Growth: 25%+ 100x sensitivity increase by YE 2021 • Launched HD - X early • Launched SR - X 1.1 • ~60% Utilization • Launched SP - X • Sold 10 units • PPH Onco track • Acquired Uman • Siemens License • 50+ drug trials • Growth 50%+ • YTD GM: +400 bps • Instrument 50%+ • 40X defined / prototype 2019 Progress vs. Goals * Non - GAAP Item: Reconciliation for these items provided in the appendix to this presentation