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.
"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."
Recent Business Highlights
- 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.
Year End 2021 Results and Financial Highlights
- 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.
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.
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.
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."
Contacts:
Ashley R. Robinson
LifeSci Advisors, LLC
Tel: +1 (617) 430-7577
Email: arr@lifesciadvisors.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.
|
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 | |
ユニバーサル通信社マサチューセッツ州ビュルリカ、2022年3月30日--SeqLL Inc.(以下、“SeqLL”または“会社”と略す)(ナスダックコード:SQL;SQLW)、パートナー関係で生命科学機器と研究サービスを提供し、新しい科学資産と知的財産権を開発するための技術会社は、今日、2021年12月31日までの第4四半期と年度の経営と財務業績を発表し、会社の最新状況を提供した。
SeqLLの共同創業者で共同創業者のDaniel·ジョーンズ氏は、“SeqLLを用いたプラットフォームが新しい資産創出をめぐる複数の開発プロジェクトでの進展を喜んでいる”と述べた。著者らのTSMS技術とチームは研究者のために改善した遺伝ツールを開発することに集中し、彼らは疾病の分子機序をもっとよく理解することができ、これらの分子機序はゲノム医学の新しい突破を発展させるために重要であり、そして最終的に現在の精確な医学と関連する肝心な問題を解決する
最近の業務のハイライト
- 科学界の傑出した指導者と世界的に有名な指導者からなる科学諮問委員会の設立を発表した。SABは経営陣と潜在的な新しい発展機会を討論し、同社の“グループ学”領域で唯一無二の真単分子シークエンシング(TSMS®)技術を利用して、管理層の既存の協力、科学と開発パートナーシップと提案を提供する。いずれのリーダーもこれまでTSMSプラットフォームを使用しており,彼らの専門知識を利用してわが社に貴重な知見を提供するであろう
2021年の年末業績と財務の概要
- 2021年12月31日までの年間総収入は21万ドルだったが、2020年12月31日までの年間総収入は33万ドルで36%減少した。収入の変化は主に研究サービスと業務活動が新冠肺炎流行期間の減速によって減少した結果である。
- 2021年12月31日までの年度の毛利はほぼ変わらず、依然として16万ドルであったが、毛金利は72%に増加したが、2020年12月31日までの年度の毛利回りは48%であった。毛金利の変化は主に新冠肺炎の疫病による製品とサービスコストの低下であり、賃金の減少を含む。
- 2020年12月31日までの33万ドルと比較して、2021年12月31日までの年間の研究開発費は60%増加し、53万ドルに達した。費用増加の主な原因は,研究開発活動が新冠肺炎大流行前のレベルに回復したことである。同社は、同社が研究開発に力を入れることに伴い、ある新型肺炎疫病期間中に放置されたプロジェクトを推進し、これらの支出は2022年以降に増加すると予想している
- 2021年12月31日までの年度の一般·行政費は220万ドルであったのに対し,2020年12月31日までの年度は77万ドルと140万ドル増加した。一般と行政費の増加は主に,会計や法律専門費約87万ドル,増加した人件費約275,000ドルを含む2021年8月に初公募株を予定しているためである。
- 2021年12月31日までの1年間で、利息やその他の収入支出は21万ドルに低下したが、2020年12月31日までの年間は29万ドルだった。利息支出が7.8万ドル減少したのは、会社が2021年8月31日に初公募株を完成させると同時に210万ドルの手形を株式に変換し、会社の残りの130万ドルの長期債務の資本コストが50%減少し、会社の未返済債務が減少したためである
- 2021年12月31日までの1年間、普通株株主は純損失370万ドル、あるいは1株当たり基本と希釈後の損失0.51ドルを占めるべきであるが、2020年12月31日までの年間、普通株株主の純損失は100万ドル、あるいは1株当たり基本と希釈後の損失は0.21ドルでなければならない。同社の純損失の増加は,主に初公募株の準備コストが約120万ドルであることと,初公募時に転換可能手形を株に換金することによる100万ドルの支出によるものである
- 2021年12月31日現在、現金、現金等価物、投資は990万ドル。
- 同社は2021年12月31日現在、11,886,379株の普通株を発行している。
真単分子シークエンシング(TSMS)技術について
SeqLLの協力者は独自のRNAとDNAシークエンシングと関連サービスを持っているため、彼らの科学研究において私たちのTSMSプラットフォームのみを使用することに完全に取り組んでいる。著者らの真の単分子配列測定プラットフォームはNGS技術であり、最大の柔軟性を提供し、標準NGS方法によく見られる多くの挑戦を避けた。それは数百万個の単独の分子を直接配列決定することができ、プロセスのいかなる段階でPCR増幅を行う必要がなく、簡単で経済的なサンプル調製方案を必要としない。したがって,正確な試料組成を捕獲し,偏見がなく,多様性や希少種の損失はなかった。我々のTSMSプラットフォームは、標準NGSプラットフォームの挑戦的な応用、例えば低数量、困難或いは分解した無細胞DNAサンプル、FFPE単離された核酸、古代DNAと法医学サンプルを含むRNAバイオマーカーの発見と診断分析開発に非常に適している。
SeqLL会社の概要
SeqLL Inc.(“SeqLL”)はパートナー関係で生命科学機器と研究サービスを提供する技術会社であり、複数の“グループ学”領域にまたがって新しい科学資産と知的財産権を開発することを目的としている。同社はその真の単分子シークエンシング(“TSMS®”)プラットフォームの専門知識を利用して、科学者と研究者に改善した遺伝子ツールを提供し、彼らが疾病の分子機序をもっとよく理解できるようにし、これはゲノム医学の新しい突破の持続的な発展に重要であり、そして現在の精確な医学と関連する肝心な問題を解決することが期待できる。つまり、私たちの経験豊富なチームは、私たちの協力者と共に特定のプロジェクトごとのニーズに応じてカスタマイズされた革新的な解決策を開発しています。
前向きに陳述する
本プレスリリースは、同社が血液中のRNA分子を定量化する技術の適用性および実行可能性に関連する陳述、および他の予測性を有する陳述を含むいくつかの前向きな陳述を含む。展望的な陳述は会社の現在の期待と仮定に基づいている。1995年の“個人証券訴訟改革法”は展望性陳述に避難港を提供した。これらの表現は、“予想”、“予想”、“意図”、“計画”、“信じ”、“推定”、“潜在”、“予測”、“プロジェクト”、“すべき”、“将”および同様の表現およびこれらの用語の否定を含むが、前向き表現を使用することによって識別することができる。このような前向きな陳述に過度に依存しないように潜在的投資家を戒める。これらの陳述は、本報告の発表日にのみ発表される。会社は、新しい情報、未来の事件、その他の理由でも、いかなる前向きな陳述も公開更新する義務を負わない。実際の結果が前向き陳述と大きく異なることをもたらす可能性のある重要な要素は、“リスク要因”のタイトル下のS−1表登録陳述を含む、同社が証券取引委員会に提出した文書に記載されている
連絡先:
アシュリー·R·ロビンソン
生活科学コンサルタント有限責任会社
電話番号:+1(617)430-7577
Eメール:arr@lifescivisors.com
SeqLL Inc. |
合併貸借対照表 |
(未監査) |
| | 十二月三十一日 |
| 資産 | | 2021 | | | | 2020 | |
流動資産 | | | |
| 現金と現金等価物 | $ | 4,015,128 | | | $ | - | |
| 有価証券 | | 5,933,364 | | | | - | |
| 売掛金純額 | | 30,714 | | | | 30,714 | |
| その他売掛金 | | 34,965 | | | | 108,815 | |
| 在庫品 | | 224,155 | | | | 203,011 | |
| 前払い費用 | | 186,056 | | | | - | |
| 流動資産総額 | | 10,424,382 | | | | 342,540 | |
その他の資産 | | | |
| 財産と設備、純額 | | 265,267 | | | | 337,241 | |
| その他の資産 | | 50,488 | | | | 14,262 | |
総資産 | $ | 10,740,137 | | | $ | 694,043 | |
| 負債と株主権益(赤字) | | | |
流動負債 | | | |
| 売掛金 | $ | 871,364 | | | $ | 861,840 | |
| 費用を計算する | | 311,405 | | | | 123,639 | |
| ローン対応-関係者 | | - | | | | 26,000 | |
| 本チケットを変換できません--流動手形 | | 1,375,000 | | | | - | |
| 流動負債総額 | | 2,557,769 | | | | 1,011,479 | |
非流動負債 | | | |
| 転換可能な手形 | | - | | | | 1,105,000 | |
| 本チケットの変更はできません--長期 | | - | | | | 2,431,730 | |
| 非流動負債総額 | | - | | | | 3,536,730 | |
総負債 | | 2,557,769 | | | | 4,548,209 | |
引受金及び又は有事項(付記14) | | | |
株主権益 | | | |
| 優先株、額面0.00001ドル、認可株式2000万株;2021年12月31日と2020年12月31日現在、発行済み株と発行済み株はそれぞれ0株と5791,665株 | | - | | | | 58 | |
| 普通株、額面0.00001ドル;認可株式80,000,000株;2021年と2020年12月31日までに、それぞれ11,886,379株と4,864,862株を発行·発行した | | 119 | | | | 49 | |
| 追加実収資本 | | 22,596,100 | | | | 6,856,020 | |
| 赤字を累計する | | (14,413,851 | ) | | | (10,710,293 | ) |
株主権益合計 | | 8,182,368 | | | | (3,854,166 | ) |
総負債と株主権益(赤字) | $ | 10,740,137 | | | $ | 694,043 | |
SeqLL Inc.
|
連結業務報告書
|
| | 十二月三十一日 |
| | | 2021 | | | | 2020 | |
収入.収入 | | | |
| 売上高 | $ | 48,021 | | | $ | 50,588 | |
| 奨学金収入 | | 161,974 | | | | 278,907 | |
| 総収入 | | 209,995 | | | | 329,495 | |
販売コスト | | 57,690 | | | | 170,803 | |
毛利 | | 152,305 | | | | 158,692 | |
運営費 | | | |
| 研究開発 | | 530,076 | | | | 330,979 | |
| 一般と行政 | | 2,170,857 | | | | 777,435 | |
| 総運営費 | | 2,700,933 | | | | 1,108,414 | |
営業損失 | | (2,548,628 | ) | | | (949,722 | ) |
その他(収入)と支出 | | | |
| その他の収入 | | (190,193 | ) | | | (191,566 | ) |
| 投資収益 | | (36,463 | ) | | | - | |
| 有価証券は赤字を実現していない | | 43,078 | | | | - | |
| 転換可能手形は価値変動を公正に許容する | | 195,962 | | | | - | |
| 転換可能手形清算損失 | | 934,257 | | | | - | |
| 利子支出 | | 208,289 | | | | 287,197 | |
| 純損失 | $ | (3,703,558 | ) | | $ | (1,045,353 | ) |
1株当たり純損失--基本損失と赤字 | $ | (0.51 | ) | | $ | (0.21 | ) |
加重平均普通株-基本普通株式と希釈普通株 | | 7,216,001 | | | | 4,864,862 | |