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.
環球通訊社馬薩諸塞州比勒裏卡，2022年5月13日--SeqLL Inc.(以下簡稱“SeqLL”或“公司”)(納斯達克代碼：SQL；SQLW)，一家以合作伙伴關係提供生命科學儀器和研究服務、旨在開發新型科學資產和知識產權的技術公司，今天宣佈了截至2021年3月31日的第一季度經營和財務業績，並提供了公司最新情況。
"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首席執行官、總裁兼聯合創始人丹尼爾·瓊斯表示：“我們繼續利用Seqll的TSMS®平臺，在圍繞新資產創造的多個開發項目中迅速取得進展。我們的團隊專注於為研究人員開發改進的遺傳工具，這樣他們就可以更好地理解和檢測疾病的分子機制，這對於繼續發展基因組醫學的新突破至關重要。
Recent Business Highlights
最近的業務亮點
- 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.
- 宣佈成立一個科學諮詢委員會，由科學界傑出和世界知名的領導人組成。SAB將與管理層討論潛在的新發展機會，利用公司在“組學”領域的獨特真單分子測序(TSM)技術，並與管理層現有的合作、科學和開發夥伴關係提供建議。每一位領導者之前都使用過TSMS平臺，並將利用他們的專業知識為我們的公司提供寶貴的見解。
First Quarter 2022 Results and Financial Highlights
2022年第一季度業績和財務亮點
- 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日的三個月期間，我們的收入為47,482美元，而截至2021年3月31日的三個月期間的收入為60,733美元，減少了13,251美元，降幅為22%。在截至2022年3月31日的三個月期間，收入包括贈款47482美元，沒有來自產品銷售和研究服務的收入，而2021年同期的產品銷售收入為15600美元，贈款為34633美元，研究服務收入為10500美元。收入減少是由於研究服務和業務活動因公司遷往馬薩諸塞州比勒裏卡而減少。這一搬遷導致該公司暫時沒有足夠的設施來執行其研究服務和業務活動。公司預計於2022年下半年恢復正常運營。
- 截至2022年3月31日的三個月的毛利為47,482美元，而截至2021年3月31日的三個月的毛利為32,782美元，增幅為45%，這主要是由於公司因遷往馬薩諸塞州比勒裏卡而在截至2022年3月31日的三個月內沒有銷售產品或服務。
- 在截至2021年3月31日的三個月裏，研發費用比截至2021年3月31日的三個月的17,955美元增加了316,715美元，增幅為1764%，而截至2022年3月31日的三個月的研發費用為334,670美元。費用的增加是因為我們的研發活動逐步恢復到新冠肺炎疫情之前的水平。我們預計，隨着我們將研究和開發努力提高到大流行前的水平，這些支出將在2022年及以後增加。
- 截至2021年3月31日的三個月，一般和行政費用比截至2021年3月31日的三個月的387,387美元增加了197,485美元，或51%，而截至2022年3月31日的三個月為584,872美元。這一增長主要是由於上市公司運營費用的增加，包括會計、法律和審計相關費用的增加，其中約100,000美元與增加的工資支出有關，約60,000美元與董事和官員保險的增加有關。2022年期間，一般和行政支出將繼續增加，以支持持續的財務報告和合規活動。
- 在截至2022年3月31日和2021年3月31日的三個月期間，我們確認的利息支出分別為16,806美元和107,801美元，減少90,995美元，降幅為84%。利息支出的減少是因為我們在2021年8月31日首次公開募股的同時，將210萬美元的票據轉換為股權，從而減少了我們的未償債務。在截至2022年3月31日的三個月期間，我們確認了51,816美元的已實現和未實現淨虧損。在截至2021年3月31日的三個月內，我們沒有持有此類投資。
- 在截至2021年3月31日的三個月期間，我們確認了與某些可轉換票據有關的債務清償虧損總計934,257美元。債務清償虧損為該等可轉換票據的公允價值合共3,075,987美元，超出其於2021年第一季度修訂日期的賬面價值2,141,730美元。在截至2022年3月31日的三個月內，我們沒有發生這樣的損失。
- 與截至2021年3月31日的1,414,618美元相比，我們的淨虧損減少了476,664美元，或34%，降至937,954美元，這是由於截至2021年3月31日的三個月期間的可轉換票據終止虧損934,257美元，而截至2022年3月31日的期間沒有發生此類虧損。與上年同期相比，截至2022年3月31日的三個月期間的營業費用增加了514,200美元，抵消了這一減少額。
- 截至2022年3月31日，現金和現金等價物為890萬美元。
- 截至2022年3月31日，該公司有11,886,379股已發行普通股。
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.
關於真單分子測序(TSMS)技術
SeqLL的合作者完全致力於在他們的科學研究中只使用我們的TSMS平臺，因為它具有獨特的RNA和DNA測序及相關服務。我們真正的單分子測序平臺是NGS技術，提供了最大的靈活性，避免了標準NGS方法常見的許多挑戰。它使數百萬個單獨的分子能夠直接測序，而不需要在過程的任何階段進行PCR擴增，以及簡單、經濟的樣品製備方案。因此，它捕獲了準確的樣品組成，沒有偏見，沒有多樣性和稀有物種的損失。我們的TSMS平臺非常適合於RNA生物標記物的發現和診斷分析開發，包括標準NGS平臺的挑戰性應用，例如低數量、困難或降解的無細胞DNA樣本、FFPE分離的核酸、古代DNA和法醫樣本。
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公司簡介
SeqLL Inc.(“SeqLL”)是一家以合作伙伴關係提供生命科學儀器和研究服務的技術公司，旨在跨多個“組學”領域開發新的科學資產和知識產權。該公司利用其真正的單分子測序(“TSMS®”)平臺的專業知識，為科學家和研究人員提供改進的基因工具，使他們能夠更好地瞭解疾病的分子機制，這對基因組醫學的新突破的持續發展至關重要，並有望解決與當今精確醫學相關的關鍵問題。總而言之，我們經驗豐富的團隊與我們的合作者一起開發針對每個特定項目的需求而量身定做的創新解決方案。
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."
前瞻性陳述
本新聞稿包含某些前瞻性陳述，包括與該公司量化血液中RNA分子的技術的適用性和可行性有關的陳述，以及其他具有預測性的陳述。前瞻性陳述是基於公司目前的預期和假設。1995年的《私人證券訴訟改革法》為前瞻性陳述提供了避風港。這些表述可以通過使用前瞻性表述來識別，包括但不限於“預期”、“預期”、“打算”、“計劃”、“相信”、“估計”、“潛在”、“預測”、“項目”、“應該”、“將”以及類似的表述和這些術語的否定。告誡潛在投資者不要過度依賴此類前瞻性陳述，這些陳述僅在本報告發表之日發表。公司不承擔公開更新任何前瞻性陳述的義務，無論是由於新信息、未來事件還是其他原因。可能導致實際結果與前瞻性陳述大不相同的重要因素在該公司提交給證券交易委員會的文件中陳述，包括其在“風險因素”標題下的S-1表格註冊陳述。
Contacts:
聯繫人：
Ashley R. Robinson
LifeSci Advisors, LLC
Tel: +1 (617) 430-7577
Email: arr@lifesciadvisors.com
阿什利·R·羅賓遜
生活科學顧問有限責任公司
電話：+1(617)430-7577
電子郵件：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. | ||||||||
| 簡明綜合資產負債表 | ||||||||
| 3月31日， | 十二月三十一日， | |||||||
| 2022 | 2021 | |||||||
| 資產 | (未經審計) | |||||||
| 流動資產 | ||||||||
| 現金和現金等價物 | $ | 8,859,317 | $ | 4,015,128 | ||||
| 有價證券 | - | 5,933,364 | ||||||
| 應收賬款淨額 | 29,514 | 30,714 | ||||||
| 其他應收賬款 | 125,672 | 34,965 | ||||||
| 庫存 | 228,533 | 224,155 | ||||||
| 預付費用 | 123,118 | 186,056 | ||||||
| 流動資產總額 | 9,366,154 | 10,424,382 | ||||||
| 其他資產 | ||||||||
| 財產和設備，淨額 | 255,490 | 265,267 | ||||||
| 經營性租賃使用權資產 | 1,455,194 | - | ||||||
| 其他資產 | 111,250 | 50,488 | ||||||
| 總資產 | $ | 11,188,088 | $ | 10,740,137 | ||||
| 負債和股東權益(赤字) | ||||||||
| 流動負債 | ||||||||
| 應付帳款 | $ | 624,449 | $ | 871,364 | ||||
| 應計費用 | 327,418 | 311,405 | ||||||
| 不可轉換本票--流動票據 | 1,375,000 | 1,375,000 | ||||||
| 經營租賃負債的當期部分 | 27,068 | - | ||||||
| 流動負債總額 | 2,353,935 | 2,557,769 | ||||||
| 非流動負債 | ||||||||
| 經營租賃負債，減去流動部分 | 1,533,825 | - | ||||||
| 非流動負債總額 | 1,533,825 | - | ||||||
| 總負債 | 3,887,760 | 2,557,769 | ||||||
| 承付款和或有事項(附註11) | ||||||||
| 股東權益(虧損) | ||||||||
| 普通股，面值0.00001美元；授權發行8000萬股；截至2022年3月31日和2021年12月31日，已發行和已發行股票11,886,379股 | 119 | 119 | ||||||
| 額外實收資本 | 22,652,014 | 22,596,100 | ||||||
| 累計赤字 | (15,351,805 | ) | (14,413,851 | ) | ||||
| 股東權益合計(虧損) | 7,300,328 | 8,182,368 | ||||||
| 總負債和股東權益(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. | |||||||||
| 簡明綜合業務報表 | |||||||||
| (未經審計) | |||||||||
|
截至三個月 3月31日， |
|||||||||
| 2022 | 2021 | ||||||||
| 收入 | |||||||||
| 銷售額 | $ | - | $ | 26,100 | |||||
| 助學金收入 | $ | 47,482 | 34,633 | ||||||
| 總收入 | $ | 47,482 | 60,733 | ||||||
| 銷售成本 | $ | - | 27,951 | ||||||
| 毛利 | $ | 47,482 | 32,782 | ||||||
| 運營費用 | |||||||||
| 研發 | $ | 334,670 | 17,955 | ||||||
| 一般和行政 | $ | 584,872 | 387,387 | ||||||
| 總運營費用 | $ | 919,542 | 405,342 | ||||||
| 營業虧損 | $ | (872,060 | ) | (372,560 | ) | ||||
| 其他(收入)和支出 | |||||||||
| 有價證券已實現虧損，淨額 | $ | 51,816 | - | ||||||
| 投資和其他收入 | $ | (2,728 | ) | - | |||||
| 可轉換票據清償損失 | $ | - | 934,257 | ||||||
| 利息支出 | $ | 16,806 | 107,801 | ||||||
| 淨虧損 | $ | (937,954 | ) | $ | (1,414,618 | ) | |||
| 每股淨虧損--基本虧損和攤薄虧損 | $ | (0.08 | ) | $ | (0.29 | ) | |||
| 加權平均普通股-基本普通股和稀釋普通股 | $ | 11,886,379 | 4,864,862 | ||||||