SeqLL Announces Fourth Quarter and Year End 2021 Financial Results and Provides a Corporate Update
SeqLL Announces Fourth Quarter and Year End 2021 Financial Results and Provides a Corporate Update
BILLERICA, Mass., March 30, 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 fourth quarter and year ended December 31, 2021, and provided a corporate update.
环球通讯社马萨诸塞州比勒里卡，2022年3月30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12月31日的第四季度和年度的经营和财务业绩，并提供了公司最新情况。
"We are pleased with our progress across multiple developmental programs around novel asset creation using SeqLL's platform," said Daniel Jones, CEO, President, and Co-Founder of SeqLL. "Our tSMS technology and team are focused on developing improved genetic tools for researchers so they can better understand the molecular mechanisms of disease that are essential for the continued development of new breakthroughs in genomic medicine, and finally addressing the critical concerns involved with today's precision medicine."
SeqLL首席执行官、总裁兼联合创始人Daniel Jones表示：“我们对使用SeqLL的平台在围绕新资产创造的多个开发项目方面取得的进展感到高兴。我们的TSMS技术和团队专注于为研究人员开发改进的遗传工具，以便他们能够更好地了解疾病的分子机制，这些分子机制对于继续发展基因组医学的新突破至关重要，并最终解决与当今精确医学有关的关键问题。
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(TSMS®)技术，并与现有的合作、科学和开发伙伴关系向管理层提供建议。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。
Year End 2021 Results and Financial Highlights
2021年年终业绩和财务摘要
- Total revenues for the year ended December 31, 2021 were $0.21 million compared to $0.33 million during the year ended December 31, 2020, representing a decrease of 36%. The change in revenue was primarily a result of the reduction in research services and business activities due to the slow-down during the COVID-19 pandemic.
- Gross profits remained essentially unchanged at $0.16 million for the year ended December 31, 2021; however, the gross profit margin increased to 72%, as compared to gross profit margin of 48% for the year ended December 31, 2020. The change in gross profit margin was primarily a result of the reduction in costs of products and services, including reduced salaries, due to the COVID-19 pandemic.
- Research and development expenses for the year ended December 31, 2021 increased 60% to $0.53 million compared to $0.33 million for the year ended December 31, 2020. The increase in expense was primarily a result of research and development activities returning to the levels of pre-COVID-19 pandemic. The company anticipates these expenditures to increase over the year of 2022 and beyond as it grows its research and development efforts to advance certain projects that were on hold during the COVID-19 pandemic.
- General and administrative expenses for the year ended December 31, 2021 were $2.2 million compared to $0.77 million for the year ended December 31, 2020, an increase of $1.4 million. The increase in general and administrative expenses was primarily related to the preparation for the company's initial public offering in August 2021, which included professional fees for accounting and legal of approximately $870,000, and increased personnel expenses of approximately $275,000.
- Interest and other income expense dropped for the year ended December 31, 2021 to $0.21 million compared with $0.29 million for the year ended December 31, 2020. A decrease in interest expense of $78,000 was due to a decrease in the company's outstanding indebtedness as a result of the conversion of $2.1 million in notes to equity concurrently with the completion of the company's initial public offering on August 31, 2021, and the 50% reduction in its cost of capital on its remaining $1.3 million in long term debt
- Net loss attributable to common stockholders for the year ended December 31, 2021 was $3.7 million, or ($0.51) per basic and diluted share compared to $1.0 million, or ($0.21) per basic and diluted share, for the year ended December 31, 2020. The increase in the company's net loss was primarily related to its approximate $1.2 million in preparation costs for its initial public offering and the $1.0 million expense attributable to the extinguishment of convertible notes into stock at the IPO.
- Cash, cash equivalents and, investments, as of December 31, 2021, were $9.9 million.
- As of December 31, 2021, the Company had 11,886,379 shares of common stock outstanding.
- 截至2021年12月31日的年度总收入为21万美元，而截至2020年12月31日的年度总收入为33万美元，降幅为36%。收入的变化主要是由于研究服务和业务活动因新冠肺炎疫情期间的放缓而减少的结果。
- 截至2021年12月31日止年度的毛利基本保持不变，仍为16万美元；然而，毛利率增至72%，而截至2020年12月31日止年度的毛利率为48%。毛利率的变化主要是由于新冠肺炎疫情导致产品和服务成本降低，包括工资减少。
- 与截至2020年12月31日的33万美元相比，截至2021年12月31日的一年的研发费用增长了60%，达到53万美元。费用增加的主要原因是研发活动恢复到新冠肺炎大流行前的水平。该公司预计，随着该公司加大研发力度，以推进某些在新冠肺炎疫情期间被搁置的项目，这些支出在2022年及以后将会增加。
- 截至2021年12月31日的年度的一般和行政费用为220万美元，而截至2020年12月31日的年度为77万美元，增加了140万美元。一般和行政费用的增加主要是因为公司准备于2021年8月进行首次公开募股，其中包括会计和法律专业费用约87万美元，以及增加的人事费用约275,000美元。
- 截至2021年12月31日的一年，利息和其他收入支出降至21万美元，而截至2020年12月31日的一年为29万美元。利息支出减少7.8万美元是由于在公司于2021年8月31日完成首次公开募股的同时将210万美元的票据转换为股权，以及公司剩余的130万美元长期债务的资本成本减少了50%，从而减少了公司的未偿债务
- 截至2021年12月31日的一年，普通股股东应占净亏损为370万美元，或每股基本和稀释后亏损0.51美元，而截至2020年12月31日的全年，普通股股东应占净亏损为100万美元，或每股基本和稀释后亏损0.21美元。该公司净亏损的增加主要是由于其首次公开募股的准备成本约为120万美元，以及首次公开募股时将可转换票据变现为股票所产生的100万美元支出。
- 截至2021年12月31日，现金、现金等价物和投资为990万美元。
- 截至2021年12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，这对继续发展基因组医学的新突破至关重要，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. | ||||||||
| Consolidated Balance Sheets | ||||||||
| (Unaudited) | ||||||||
| December 31, | ||||||||
| Assets | 2021 | 2020 | ||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 4,015,128 | $ | - | ||||
| Marketable securities | 5,933,364 | - | ||||||
| Accounts receivable, net | 30,714 | 30,714 | ||||||
| Other receivables | 34,965 | 108,815 | ||||||
| Inventory | 224,155 | 203,011 | ||||||
| Prepaid expenses | 186,056 | - | ||||||
| Total current assets | 10,424,382 | 342,540 | ||||||
| Other assets | ||||||||
| Property and equipment, net | 265,267 | 337,241 | ||||||
| Other assets | 50,488 | 14,262 | ||||||
| Total assets | $ | 10,740,137 | $ | 694,043 | ||||
| Liabilities and Stockholders' Equity (Deficit) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 871,364 | $ | 861,840 | ||||
| Accrued expenses | 311,405 | 123,639 | ||||||
| Loan payable - related party | - | 26,000 | ||||||
| Non-convertible promissory notes - current | 1,375,000 | - | ||||||
| Total current liabilities | 2,557,769 | 1,011,479 | ||||||
| Non-current liabilities | ||||||||
| Convertible notes | - | 1,105,000 | ||||||
| Non-convertible promissory notes - long-term | - | 2,431,730 | ||||||
| Total non-current liabilities | - | 3,536,730 | ||||||
| Total liabilities | 2,557,769 | 4,548,209 | ||||||
| Commitments and contingencies (Note 14) | ||||||||
| Stockholders' equity (deficit) | ||||||||
| Preferred stock, $0.00001 par value; 20,000,000 shares authorized; 0 and 5,791,665 shares issued and outstanding as of December 31, 2021 and 2020, respectively | - | 58 | ||||||
| Common stock, $0.00001 par value; 80,000,000 shares authorized; 11,886,379 and 4,864,862 shares issued and outstanding as of December 31, 2021 and 2020, respectively | 119 | 49 | ||||||
| Additional paid-in capital | 22,596,100 | 6,856,020 | ||||||
| Accumulated deficit | (14,413,851 | ) | (10,710,293 | ) | ||||
| Total stockholders' equity (deficit) | 8,182,368 | (3,854,166 | ) | |||||
| Total liabilities and stockholders' equity (deficit) | $ | 10,740,137 | $ | 694,043 | ||||
| SeqLL Inc. | ||||||||
| 合并资产负债表 | ||||||||
| (未经审计) | ||||||||
| 十二月三十一日， | ||||||||
| 资产 | 2021 | 2020 | ||||||
| 流动资产 | ||||||||
| 现金和现金等价物 | $ | 4,015,128 | $ | - | ||||
| 有价证券 | 5,933,364 | - | ||||||
| 应收账款净额 | 30,714 | 30,714 | ||||||
| 其他应收账款 | 34,965 | 108,815 | ||||||
| 库存 | 224,155 | 203,011 | ||||||
| 预付费用 | 186,056 | - | ||||||
| 流动资产总额 | 10,424,382 | 342,540 | ||||||
| 其他资产 | ||||||||
| 财产和设备，净值 | 265,267 | 337,241 | ||||||
| 其他资产 | 50,488 | 14,262 | ||||||
| 总资产 | $ | 10,740,137 | $ | 694,043 | ||||
| 负债和股东权益(赤字) | ||||||||
| 流动负债 | ||||||||
| 应付帐款 | $ | 871,364 | $ | 861,840 | ||||
| 应计费用 | 311,405 | 123,639 | ||||||
| 应付贷款-关联方 | - | 26,000 | ||||||
| 不可转换本票--流动票据 | 1,375,000 | - | ||||||
| 流动负债总额 | 2,557,769 | 1,011,479 | ||||||
| 非流动负债 | ||||||||
| 可转换票据 | - | 1,105,000 | ||||||
| 不可转换本票--长期 | - | 2,431,730 | ||||||
| 非流动负债总额 | - | 3,536,730 | ||||||
| 总负债 | 2,557,769 | 4,548,209 | ||||||
| 承付款和或有事项(附注14) | ||||||||
| 股东权益(亏损) | ||||||||
| 优先股，面值0.00001美元；授权股份2000万股；截至2021年12月31日和2020年12月31日，已发行和已发行股票分别为0股和5791,665股 | - | 58 | ||||||
| 普通股，面值0.00001美元；授权股份80,000,000股；截至2021年和2020年12月31日，分别发行和发行了11,886,379股和4,864,862股 | 119 | 49 | ||||||
| 额外实收资本 | 22,596,100 | 6,856,020 | ||||||
| 累计赤字 | (14,413,851 | ) | (10,710,293 | ) | ||||
| 股东权益合计(亏损) | 8,182,368 | (3,854,166 | ) | |||||
| 总负债和股东权益(赤字) | $ | 10,740,137 | $ | 694,043 | ||||
|
SeqLL Inc. | ||||||||
|
Consolidated Statements of Operations | ||||||||
| December 31, | ||||||||
| 2021 | 2020 | |||||||
| Revenue | ||||||||
| Sales | $ | 48,021 | $ | 50,588 | ||||
| Grant revenue | 161,974 | 278,907 | ||||||
| Total revenue | 209,995 | 329,495 | ||||||
| Cost of sales | 57,690 | 170,803 | ||||||
| Gross profit | 152,305 | 158,692 | ||||||
| Operating expenses | ||||||||
| Research and development | 530,076 | 330,979 | ||||||
| General and administrative | 2,170,857 | 777,435 | ||||||
| Total operating expenses | 2,700,933 | 1,108,414 | ||||||
| Operating loss | (2,548,628 | ) | (949,722 | ) | ||||
| Other (income) and expenses | ||||||||
| Other income | (190,193 | ) | (191,566 | ) | ||||
| Investment income | (36,463 | ) | - | |||||
| Unrealized loss on marketable securities | 43,078 | - | ||||||
| Change in fair value of convertible notes | 195,962 | - | ||||||
| Loss on extinguishment of convertible notes | 934,257 | - | ||||||
| Interest expense | 208,289 | 287,197 | ||||||
| Net loss | $ | (3,703,558 | ) | $ | (1,045,353 | ) | ||
| Net loss per share - basic and diluted | $ | (0.51 | ) | $ | (0.21 | ) | ||
| Weighted average common shares - basic and diluted | 7,216,001 | 4,864,862 | ||||||
|
SeqLL Inc. | ||||||||
|
合并业务报表 | ||||||||
| 十二月三十一日， | ||||||||
| 2021 | 2020 | |||||||
| 收入 | ||||||||
| 销售额 | $ | 48,021 | $ | 50,588 | ||||
| 助学金收入 | 161,974 | 278,907 | ||||||
| 总收入 | 209,995 | 329,495 | ||||||
| 销售成本 | 57,690 | 170,803 | ||||||
| 毛利 | 152,305 | 158,692 | ||||||
| 运营费用 | ||||||||
| 研发 | 530,076 | 330,979 | ||||||
| 一般事务和行政事务 | 2,170,857 | 777,435 | ||||||
| 总运营费用 | 2,700,933 | 1,108,414 | ||||||
| 营业亏损 | (2,548,628 | ) | (949,722 | ) | ||||
| 其他(收入)和支出 | ||||||||
| 其他收入 | (190,193 | ) | (191,566 | ) | ||||
| 投资收益 | (36,463 | ) | - | |||||
| 有价证券未实现亏损 | 43,078 | - | ||||||
| 可转换票据公允价值变动 | 195,962 | - | ||||||
| 可转换票据清偿损失 | 934,257 | - | ||||||
| 利息支出 | 208,289 | 287,197 | ||||||
| 净亏损 | $ | (3,703,558 | ) | $ | (1,045,353 | ) | ||
| 每股净亏损--基本亏损和摊薄亏损 | $ | (0.51 | ) | $ | (0.21 | ) | ||
| 加权平均普通股-基本普通股和稀释普通股 | 7,216,001 | 4,864,862 | ||||||