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.
環球通訊社馬薩諸塞州比勒裏卡，2022年3月30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12月31日的第四季度和年度的經營和財務業績，並提供了公司最新情況。
"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首席執行官、總裁兼聯合創始人Daniel Jones表示：“我們對使用SeqLL的平臺在圍繞新資產創造的多個開發項目方面取得的進展感到高興。我們的TSMS技術和團隊專注於為研究人員開發改進的遺傳工具，以便他們能夠更好地瞭解疾病的分子機制，這些分子機制對於繼續發展基因組醫學的新突破至關重要，並最終解決與當今精確醫學有關的關鍵問題。
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(TSMS®)技術，並與現有的合作、科學和開發夥伴關係向管理層提供建議。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。
Year End 2021 Results and Financial Highlights
2021年年終業績和財務摘要
- 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日的年度總收入為21萬美元，而截至2020年12月31日的年度總收入為33萬美元，降幅為36%。收入的變化主要是由於研究服務和業務活動因新冠肺炎疫情期間的放緩而減少的結果。
- 截至2021年12月31日止年度的毛利基本保持不變，仍為16萬美元；然而，毛利率增至72%，而截至2020年12月31日止年度的毛利率為48%。毛利率的變化主要是由於新冠肺炎疫情導致產品和服務成本降低，包括工資減少。
- 與截至2020年12月31日的33萬美元相比，截至2021年12月31日的一年的研發費用增長了60%，達到53萬美元。費用增加的主要原因是研發活動恢復到新冠肺炎大流行前的水平。該公司預計，隨着該公司加大研發力度，以推進某些在新冠肺炎疫情期間被擱置的項目，這些支出在2022年及以後將會增加。
- 截至2021年12月31日的年度的一般和行政費用為220萬美元，而截至2020年12月31日的年度為77萬美元，增加了140萬美元。一般和行政費用的增加主要是因為公司準備於2021年8月進行首次公開募股，其中包括會計和法律專業費用約87萬美元，以及增加的人事費用約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21萬美元，而截至2020年12月31日的一年為29萬美元。利息支出減少7.8萬美元是由於在公司於2021年8月31日完成首次公開募股的同時將210萬美元的票據轉換為股權，以及公司剩餘的130萬美元長期債務的資本成本減少了50%，從而減少了公司的未償債務
- 截至2021年12月31日的一年，普通股股東應佔淨虧損為370萬美元，或每股基本和稀釋後虧損0.51美元，而截至2020年12月31日的全年，普通股股東應佔淨虧損為100萬美元，或每股基本和稀釋後虧損0.21美元。該公司淨虧損的增加主要是由於其首次公開募股的準備成本約為120萬美元，以及首次公開募股時將可轉換票據變現為股票所產生的100萬美元支出。
- 截至2021年12月31日，現金、現金等價物和投資為990萬美元。
- 截至2021年12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，這對繼續發展基因組醫學的新突破至關重要，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. | ||||||||
| 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. | ||||||||
| 合併資產負債表 | ||||||||
| (未經審計) | ||||||||
| 十二月三十一日， | ||||||||
| 資產 | 2021 | 2020 | ||||||
| 流動資產 | ||||||||
| 現金和現金等價物 | $ | 4,015,128 | $ | - | ||||
| 有價證券 | 5,933,364 | - | ||||||
| 應收賬款淨額 | 30,714 | 30,714 | ||||||
| 其他應收賬款 | 34,965 | 108,815 | ||||||
| 庫存 | 224,155 | 203,011 | ||||||
| 預付費用 | 186,056 | - | ||||||
| 流動資產總額 | 10,424,382 | 342,540 | ||||||
| 其他資產 | ||||||||
| 財產和設備，淨值 | 265,267 | 337,241 | ||||||
| 其他資產 | 50,488 | 14,262 | ||||||
| 總資產 | $ | 10,740,137 | $ | 694,043 | ||||
| 負債和股東權益(赤字) | ||||||||
| 流動負債 | ||||||||
| 應付帳款 | $ | 871,364 | $ | 861,840 | ||||
| 應計費用 | 311,405 | 123,639 | ||||||
| 應付貸款-關聯方 | - | 26,000 | ||||||
| 不可轉換本票--流動票據 | 1,375,000 | - | ||||||
| 流動負債總額 | 2,557,769 | 1,011,479 | ||||||
| 非流動負債 | ||||||||
| 可轉換票據 | - | 1,105,000 | ||||||
| 不可轉換本票--長期 | - | 2,431,730 | ||||||
| 非流動負債總額 | - | 3,536,730 | ||||||
| 總負債 | 2,557,769 | 4,548,209 | ||||||
| 承付款和或有事項(附註14) | ||||||||
| 股東權益(虧損) | ||||||||
| 優先股，面值0.00001美元；授權股份2000萬股；截至2021年12月31日和2020年12月31日，已發行和已發行股票分別為0股和5791,665股 | - | 58 | ||||||
| 普通股，面值0.00001美元；授權股份80,000,000股；截至2021年和2020年12月31日，分別發行和發行了11,886,379股和4,864,862股 | 119 | 49 | ||||||
| 額外實收資本 | 22,596,100 | 6,856,020 | ||||||
| 累計赤字 | (14,413,851 | ) | (10,710,293 | ) | ||||
| 股東權益合計(虧損) | 8,182,368 | (3,854,166 | ) | |||||
| 總負債和股東權益(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. | ||||||||
|
合併業務報表 | ||||||||
| 十二月三十一日， | ||||||||
| 2021 | 2020 | |||||||
| 收入 | ||||||||
| 銷售額 | $ | 48,021 | $ | 50,588 | ||||
| 助學金收入 | 161,974 | 278,907 | ||||||
| 總收入 | 209,995 | 329,495 | ||||||
| 銷售成本 | 57,690 | 170,803 | ||||||
| 毛利 | 152,305 | 158,692 | ||||||
| 運營費用 | ||||||||
| 研發 | 530,076 | 330,979 | ||||||
| 一般事務和行政事務 | 2,170,857 | 777,435 | ||||||
| 總運營費用 | 2,700,933 | 1,108,414 | ||||||
| 營業虧損 | (2,548,628 | ) | (949,722 | ) | ||||
| 其他(收入)和支出 | ||||||||
| 其他收入 | (190,193 | ) | (191,566 | ) | ||||
| 投資收益 | (36,463 | ) | - | |||||
| 有價證券未實現虧損 | 43,078 | - | ||||||
| 可轉換票據公允價值變動 | 195,962 | - | ||||||
| 可轉換票據清償損失 | 934,257 | - | ||||||
| 利息支出 | 208,289 | 287,197 | ||||||
| 淨虧損 | $ | (3,703,558 | ) | $ | (1,045,353 | ) | ||
| 每股淨虧損--基本虧損和攤薄虧損 | $ | (0.51 | ) | $ | (0.21 | ) | ||
| 加權平均普通股-基本普通股和稀釋普通股 | 7,216,001 | 4,864,862 | ||||||