SeqLL Provides First Quarter 2022 Financial Results and a Corporate Update
SeqLL Provides First Quarter 2022 Financial Results and a Corporate Update
BILLERICA, Mass., May 13, 2022 (GLOBE NEWSWIRE) -- SeqLL Inc. ("SeqLL" or the "Company") (NASDAQ: SQL; SQLLW), a technology company providing life sciences instrumentation and research services in collaborative partnerships aimed at the development of novel scientific assets and intellectual property, today announced its operating and financial results for the first quarter ended March 31, 2021, and provided a corporate update.
环球通讯社马萨诸塞州比勒里卡，2022年5月13日--SeqLL Inc.(以下简称“SeqLL”或“公司”)(纳斯达克代码：SQL；SQLW)，一家以合作伙伴关系提供生命科学仪器和研究服务、旨在开发新型科学资产和知识产权的技术公司，今天宣布了截至2021年3月31日的第一季度经营和财务业绩，并提供了公司最新情况。
"We continue rapidly with our progress across multiple developmental programs around novel asset creation using SeqLL's tSMS® platform," said Daniel Jones, CEO, President, and Co-Founder of SeqLL. "Our team is focused on developing improved genetic tools for researchers, so they can better understand and detect the molecular mechanisms of disease which are essential for the continued development of new breakthroughs in genomic medicine."
Seqll首席执行官、总裁兼联合创始人丹尼尔·琼斯表示：“我们继续利用Seqll的TSMS®平台，在围绕新资产创造的多个开发项目中迅速取得进展。我们的团队专注于为研究人员开发改进的遗传工具，这样他们就可以更好地理解和检测疾病的分子机制，这对于继续发展基因组医学的新突破至关重要。
Recent Business Highlights
最近的业务亮点
- Announced the formation of a Scientific Advisory Board comprised of distinguished and world-renowned leaders of the scientific community. The SAB will discuss with management potential new development opportunities that leverage the Company's unique True Single Molecule Sequencing (tSMS) technology across the "omics" fields, as well as advise management with their existing collaborative, scientific, & development partnerships. Each leader has previously utilized the tSMS platform and will leverage their expertise to provide valuable insight to our company.
- 宣布成立一个科学咨询委员会，由科学界杰出和世界知名的领导人组成。SAB将与管理层讨论潜在的新发展机会，利用公司在“组学”领域的独特真单分子测序(TSM)技术，并与管理层现有的合作、科学和开发伙伴关系提供建议。每一位领导者之前都使用过TSMS平台，并将利用他们的专业知识为我们的公司提供宝贵的见解。
First Quarter 2022 Results and Financial Highlights
2022年第一季度业绩和财务亮点
- Our revenues during the three-month period ended March 31, 2022, were $47,482 as compared to revenues of $60,733 during the three-month period ended March 31, 2021, representing a decrease of $13,251, or 22%. During the three-month period ended March 31, 2022, revenue included grants of $47,482 and no revenues from product sales and research services as compared to revenue in the same period of 2021 from product sales of $15,600, grants of $34,633 and $10,500 in research services. The decrease in revenue was due to the reduction in research services and business activities due to the Company's relocation to Billerica, Massachusetts. This relocation resulted in the Company temporarily not having facilities that were sufficient to perform its research services and business activities. The Company expects to resume normal operations in the second half of 2022.
- Gross profit for the three-month period ended March 31, 2022 was $47,482, as compared to gross profit of $32,782 for the three-month periods ended March 31, 2021, which represents a 45% increase primarily due to the fact that the Company had no sales of products or services during the three-month period ended March 31, 2022 due to its relocation to Billerica, Massachusetts.
- Research and development expenses increased by $316,715, or 1,764%, from $17,955 for the three-month period ended March 31, 2021 compared to $334,670 for the three-month period ended March 31, 2022. The increase in expenses was a result of our progressive return to research and development activities to levels of pre-COVID-19 pandemic. We expect these expenditures to increase over 2022 and beyond as we increase our research and development efforts to pre-pandemic levels.
- General and administrative expenses increased by $197,485, or 51%, from $387,387 for the three-month period ended March 31, 2021 compared to $584,872 for the three-month period ended March 31, 2022. The increase was primarily attributable to increased operating expenses as a public company, including the addition of accounting, legal and audit related expenses, of which approximately $100,000 is related to increased payroll expense and approximately $60,000 is related to the addition of director and officer insurance. General and administrative expenditures will continue to increase during 2022 to support ongoing financial reporting and compliance activities.
- We recognized interest expense of $16,806 and $107,801 in the three-month periods ended March 31, 2022 and 2021, respectively, representing a decrease of $90,995, or 84%. The decrease in interest expense was due to a decrease in our outstanding indebtedness as a result of the conversion of $2.1 million in notes to equity concurrently with the consumption of our initial public offering on August 31, 2021. We recognized $51,816 in net realized and unrealized losses on the marketable securities during the three-month period ended March 31, 2022. We did not hold such investments during the three-month period ended March 31, 2021.
- We recognized a loss on extinguishment of debt totaling $934,257 in the three-month period ended March 31, 2021 related to certain convertible notes. The loss on the extinguishment of debt represented the excess of the fair value of these convertible notes totaling $3,075,987 over their carrying value of $2,141,730 at their amendment date in the first quarter of 2021. We did not incur such losses in the three-month period ended March 31, 2022.
- Our net loss decreased by $476,664, or 34%, to $937,954 as compared to $1,414,618 for the period ended March 31, 2021 due to the loss on extinguishment of convertible notes in the three-month period ended March 31, 2021 in the amount of $934,257, when no such loss occurred during the period ended March 31, 2022. This reduction was offset by an increase in the operating expenses of $514,200 when comparing the three-month period ended March 31, 2022 to the same period in the prior year.
- Cash and cash equivalents, as of March 31, 2022, were $8.9 million.
- As of March 31, 2022, the Company had 11,886,379 shares of common stock outstanding.
- 在截至2022年3月31日的三个月期间，我们的收入为47,482美元，而截至2021年3月31日的三个月期间的收入为60,733美元，减少了13,251美元，降幅为22%。在截至2022年3月31日的三个月期间，收入包括赠款47482美元，没有来自产品销售和研究服务的收入，而2021年同期的产品销售收入为15600美元，赠款为34633美元，研究服务收入为10500美元。收入减少是由于研究服务和业务活动因公司迁往马萨诸塞州比勒里卡而减少。这一搬迁导致该公司暂时没有足够的设施来执行其研究服务和业务活动。公司预计于2022年下半年恢复正常运营。
- 截至2022年3月31日的三个月的毛利为47,482美元，而截至2021年3月31日的三个月的毛利为32,782美元，增幅为45%，这主要是由于公司因迁往马萨诸塞州比勒里卡而在截至2022年3月31日的三个月内没有销售产品或服务。
- 在截至2021年3月31日的三个月里，研发费用比截至2021年3月31日的三个月的17,955美元增加了316,715美元，增幅为1764%，而截至2022年3月31日的三个月的研发费用为334,670美元。费用的增加是因为我们的研发活动逐步恢复到新冠肺炎疫情之前的水平。我们预计，随着我们将研究和开发努力提高到大流行前的水平，这些支出将在2022年及以后增加。
- 截至2021年3月31日的三个月，一般和行政费用比截至2021年3月31日的三个月的387,387美元增加了197,485美元，或51%，而截至2022年3月31日的三个月为584,872美元。这一增长主要是由于上市公司运营费用的增加，包括会计、法律和审计相关费用的增加，其中约100,000美元与增加的工资支出有关，约60,000美元与董事和官员保险的增加有关。2022年期间，一般和行政支出将继续增加，以支持持续的财务报告和合规活动。
- 在截至2022年3月31日和2021年3月31日的三个月期间，我们确认的利息支出分别为16,806美元和107,801美元，减少90,995美元，降幅为84%。利息支出的减少是因为我们在2021年8月31日首次公开募股的同时，将210万美元的票据转换为股权，从而减少了我们的未偿债务。在截至2022年3月31日的三个月期间，我们确认了51,816美元的已实现和未实现净亏损。在截至2021年3月31日的三个月内，我们没有持有此类投资。
- 在截至2021年3月31日的三个月期间，我们确认了与某些可转换票据有关的债务清偿亏损总计934,257美元。债务清偿亏损为该等可转换票据的公允价值合共3,075,987美元，超出其于2021年第一季度修订日期的账面价值2,141,730美元。在截至2022年3月31日的三个月内，我们没有发生这样的损失。
- 与截至2021年3月31日的1,414,618美元相比，我们的净亏损减少了476,664美元，或34%，降至937,954美元，这是由于截至2021年3月31日的三个月期间的可转换票据终止亏损934,257美元，而截至2022年3月31日的期间没有发生此类亏损。与上年同期相比，截至2022年3月31日的三个月期间的营业费用增加了514,200美元，抵消了这一减少额。
- 截至2022年3月31日，现金和现金等价物为890万美元。
- 截至2022年3月31日，该公司有11,886,379股已发行普通股。
About True Single Molecule Sequencing (tSMS) Technology
SeqLL's collaborators are thoroughly committed to using only our tSMS platform in their scientific research due to its unique RNA and DNA sequencing and related services. Our true single molecule sequencing platform is NGS technology offers maximum flexibility and avoids many of the challenges common for standard NGS approaches. It that enables direct sequencing of millions of individual molecules not requiring PCR amplification at any stage of the process and a simple, economical sample prep protocols. Therefore, it captures a precise sample composition, without bias and loss of diversity and rare species. Our tSMS platform is ideally suited for RNA biomarker discovery and diagnostic assay developments, including challenging applications for the standard NGS platform, such as low quantity, difficult or degraded samples of cell-free DNA, FFPE-isolated nucleic acids, ancient DNA and forensic samples.
关于真单分子测序(TSMS)技术
SeqLL的合作者完全致力于在他们的科学研究中只使用我们的TSMS平台，因为它具有独特的RNA和DNA测序及相关服务。我们真正的单分子测序平台是NGS技术，提供了最大的灵活性，避免了标准NGS方法常见的许多挑战。它使数百万个单独的分子能够直接测序，而不需要在过程的任何阶段进行PCR扩增，以及简单、经济的样品制备方案。因此，它捕获了准确的样品组成，没有偏见，没有多样性和稀有物种的损失。我们的TSMS平台非常适合于RNA生物标记物的发现和诊断分析开发，包括标准NGS平台的挑战性应用，例如低数量、困难或降解的无细胞DNA样本、FFPE分离的核酸、古代DNA和法医样本。
About SeqLL, Inc.
SeqLL Inc. ("SeqLL") is a technology company providing life sciences instrumentation and research services in collaborative partnerships aimed at the development of novel scientific assets and intellectual property across multiple "omics" fields. The Company leverages its expertise with its True Single Molecule Sequencing ("tSMS®") platform to empower scientists and researchers with improved genetic tools to better understand the molecular mechanisms of disease that is essential to the continued development of new breakthroughs in genomic medicine, and that hopefully address the critical concerns involved with today's precision medicine. In sum, our experienced team works with our collaborators to develop innovative solutions tailored to the needs of each specific project.
SeqLL公司简介
SeqLL Inc.(“SeqLL”)是一家以合作伙伴关系提供生命科学仪器和研究服务的技术公司，旨在跨多个“组学”领域开发新的科学资产和知识产权。该公司利用其真正的单分子测序(“TSMS®”)平台的专业知识，为科学家和研究人员提供改进的基因工具，使他们能够更好地了解疾病的分子机制，这对基因组医学的新突破的持续发展至关重要，并有望解决与当今精确医学相关的关键问题。总而言之，我们经验丰富的团队与我们的合作者一起开发针对每个特定项目的需求而量身定做的创新解决方案。
Forward Looking Statements
This press release contains certain forward-looking statements, including those related to the applicability and viability of the Company's technology to quantifying RNA molecules from blood and other statements that are predictive in nature. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its registration statement on Form S-1, as amended, under the caption "Risk Factors."
前瞻性陈述
本新闻稿包含某些前瞻性陈述，包括与该公司量化血液中RNA分子的技术的适用性和可行性有关的陈述，以及其他具有预测性的陈述。前瞻性陈述是基于公司目前的预期和假设。1995年的《私人证券诉讼改革法》为前瞻性陈述提供了避风港。这些表述可以通过使用前瞻性表述来识别，包括但不限于“预期”、“预期”、“打算”、“计划”、“相信”、“估计”、“潜在”、“预测”、“项目”、“应该”、“将”以及类似的表述和这些术语的否定。告诫潜在投资者不要过度依赖此类前瞻性陈述，这些陈述仅在本报告发表之日发表。公司不承担公开更新任何前瞻性陈述的义务，无论是由于新信息、未来事件还是其他原因。可能导致实际结果与前瞻性陈述大不相同的重要因素在该公司提交给证券交易委员会的文件中陈述，包括其在“风险因素”标题下的S-1表格注册陈述。
Contacts:
联系人：
Ashley R. Robinson
LifeSci Advisors, LLC
Tel: +1 (617) 430-7577
Email: arr@lifesciadvisors.com
阿什利·R·罗宾逊
生活科学顾问有限责任公司
电话：+1(617)430-7577
电子邮件：arr@lifescivisors.com
| SeqLL Inc. | ||||||||
| Condensed Consolidated Balance Sheets | ||||||||
| March 31, | December 31, | |||||||
| 2022 | 2021 | |||||||
| Assets | (Unaudited) | |||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 8,859,317 | $ | 4,015,128 | ||||
| Marketable securities | - | 5,933,364 | ||||||
| Accounts receivable, net | 29,514 | 30,714 | ||||||
| Other receivables | 125,672 | 34,965 | ||||||
| Inventory | 228,533 | 224,155 | ||||||
| Prepaid expenses | 123,118 | 186,056 | ||||||
| Total current assets | 9,366,154 | 10,424,382 | ||||||
| Other assets | ||||||||
| Property and equipment, net | 255,490 | 265,267 | ||||||
| Operating lease right-of-use asset | 1,455,194 | - | ||||||
| Other assets | 111,250 | 50,488 | ||||||
| Total assets | $ | 11,188,088 | $ | 10,740,137 | ||||
| Liabilities and Stockholders' Equity (Deficit) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 624,449 | $ | 871,364 | ||||
| Accrued expenses | 327,418 | 311,405 | ||||||
| Non-convertible promissory notes - current | 1,375,000 | 1,375,000 | ||||||
| Current portion of operating lease liability | 27,068 | - | ||||||
| Total current liabilities | 2,353,935 | 2,557,769 | ||||||
| Non-current liabilities | ||||||||
| Operating lease liability, less current portion | 1,533,825 | - | ||||||
| Total non-current liabilities | 1,533,825 | - | ||||||
| Total liabilities | 3,887,760 | 2,557,769 | ||||||
| Commitments and contingencies (Note 11) | ||||||||
| Stockholders' equity (deficit) | ||||||||
| Common stock, $0.00001 par value; 80,000,000 shares authorized; 11,886,379 shares issued and outstanding as of March 31, 2022 and December 31, 2021 | 119 | 119 | ||||||
| Additional paid-in capital | 22,652,014 | 22,596,100 | ||||||
| Accumulated deficit | (15,351,805 | ) | (14,413,851 | ) | ||||
| Total stockholders' equity (deficit) | 7,300,328 | 8,182,368 | ||||||
| Total liabilities and stockholders' equity (deficit) | $ | 11,188,088 | $ | 10,740,137 | ||||
| SeqLL Inc. | ||||||||
| 简明综合资产负债表 | ||||||||
| 3月31日， | 十二月三十一日， | |||||||
| 2022 | 2021 | |||||||
| 资产 | (未经审计) | |||||||
| 流动资产 | ||||||||
| 现金和现金等价物 | $ | 8,859,317 | $ | 4,015,128 | ||||
| 有价证券 | - | 5,933,364 | ||||||
| 应收账款净额 | 29,514 | 30,714 | ||||||
| 其他应收账款 | 125,672 | 34,965 | ||||||
| 库存 | 228,533 | 224,155 | ||||||
| 预付费用 | 123,118 | 186,056 | ||||||
| 流动资产总额 | 9,366,154 | 10,424,382 | ||||||
| 其他资产 | ||||||||
| 财产和设备，净额 | 255,490 | 265,267 | ||||||
| 经营性租赁使用权资产 | 1,455,194 | - | ||||||
| 其他资产 | 111,250 | 50,488 | ||||||
| 总资产 | $ | 11,188,088 | $ | 10,740,137 | ||||
| 负债和股东权益(赤字) | ||||||||
| 流动负债 | ||||||||
| 应付帐款 | $ | 624,449 | $ | 871,364 | ||||
| 应计费用 | 327,418 | 311,405 | ||||||
| 不可转换本票--流动票据 | 1,375,000 | 1,375,000 | ||||||
| 经营租赁负债的当期部分 | 27,068 | - | ||||||
| 流动负债总额 | 2,353,935 | 2,557,769 | ||||||
| 非流动负债 | ||||||||
| 经营租赁负债，减去流动部分 | 1,533,825 | - | ||||||
| 非流动负债总额 | 1,533,825 | - | ||||||
| 总负债 | 3,887,760 | 2,557,769 | ||||||
| 承付款和或有事项(附注11) | ||||||||
| 股东权益(亏损) | ||||||||
| 普通股，面值0.00001美元；授权发行8000万股；截至2022年3月31日和2021年12月31日，已发行和已发行股票11,886,379股 | 119 | 119 | ||||||
| 额外实收资本 | 22,652,014 | 22,596,100 | ||||||
| 累计赤字 | (15,351,805 | ) | (14,413,851 | ) | ||||
| 股东权益合计(亏损) | 7,300,328 | 8,182,368 | ||||||
| 总负债和股东权益(赤字) | $ | 11,188,088 | $ | 10,740,137 | ||||
| SeqLL Inc. | |||||||||
| Condensed Consolidated Statements of Operations | |||||||||
| (Unaudited) | |||||||||
|
Three months ended March 31, |
|||||||||
| 2022 | 2021 | ||||||||
| Revenue | |||||||||
| Sales | $ | - | $ | 26,100 | |||||
| Grant revenue | $ | 47,482 | 34,633 | ||||||
| Total revenue | $ | 47,482 | 60,733 | ||||||
| Cost of sales | $ | - | 27,951 | ||||||
| Gross profit | $ | 47,482 | 32,782 | ||||||
| Operating expenses | |||||||||
| Research and development | $ | 334,670 | 17,955 | ||||||
| General and administrative | $ | 584,872 | 387,387 | ||||||
| Total operating expenses | $ | 919,542 | 405,342 | ||||||
| Operating loss | $ | (872,060 | ) | (372,560 | ) | ||||
| Other (income) and expenses | |||||||||
| Realized loss on marketable securities, net | $ | 51,816 | - | ||||||
| Investment and other income | $ | (2,728 | ) | - | |||||
| Loss on extinguishment of convertible notes | $ | - | 934,257 | ||||||
| Interest expense | $ | 16,806 | 107,801 | ||||||
| Net loss | $ | (937,954 | ) | $ | (1,414,618 | ) | |||
| Net loss per share - basic and diluted | $ | (0.08 | ) | $ | (0.29 | ) | |||
| Weighted average common shares - basic and diluted | $ | 11,886,379 | 4,864,862 | ||||||
| SeqLL Inc. | |||||||||
| 简明综合业务报表 | |||||||||
| (未经审计) | |||||||||
|
截至三个月 3月31日， |
|||||||||
| 2022 | 2021 | ||||||||
| 收入 | |||||||||
| 销售额 | $ | - | $ | 26,100 | |||||
| 助学金收入 | $ | 47,482 | 34,633 | ||||||
| 总收入 | $ | 47,482 | 60,733 | ||||||
| 销售成本 | $ | - | 27,951 | ||||||
| 毛利 | $ | 47,482 | 32,782 | ||||||
| 运营费用 | |||||||||
| 研发 | $ | 334,670 | 17,955 | ||||||
| 一般和行政 | $ | 584,872 | 387,387 | ||||||
| 总运营费用 | $ | 919,542 | 405,342 | ||||||
| 营业亏损 | $ | (872,060 | ) | (372,560 | ) | ||||
| 其他(收入)和支出 | |||||||||
| 有价证券已实现亏损，净额 | $ | 51,816 | - | ||||||
| 投资和其他收入 | $ | (2,728 | ) | - | |||||
| 可转换票据清偿损失 | $ | - | 934,257 | ||||||
| 利息支出 | $ | 16,806 | 107,801 | ||||||
| 净亏损 | $ | (937,954 | ) | $ | (1,414,618 | ) | |||
| 每股净亏损--基本亏损和摊薄亏损 | $ | (0.08 | ) | $ | (0.29 | ) | |||
| 加权平均普通股-基本普通股和稀释普通股 | $ | 11,886,379 | 4,864,862 | ||||||