Singular Genomics Reviews Instrument Shipments and Preliminary Unaudited Fourth Quarter 2022 Income

    Singular Genomics Reviews Instrument Shipments and Preliminary Unaudited Fourth Quarter 2022 Income

    Singular Genomics Reviews Instrument Shipments and Preliminary Unaudited Fourth Quarter 2022 Income

    Singular Genomics Programs, Inc.

    SAN DIEGO, Jan. 09, 2023 (GLOBE NEWSWIRE) — Singular Genomics Programs, Inc. (Nasdaq: OMIC), an organization leveraging novel next-generation sequencing (NGS) and multiomics applied sciences to empower researchers and clinicians, at this time introduced instrument shipments and preliminary unaudited fourth quarter 2022 income.

    The corporate shipped 5 G4 devices by way of December 31, 2022 and acknowledged roughly $700 thousand in preliminary unaudited income throughout the fourth quarter 2022 for these devices that met income recognition standards.

    “We’re happy to have completed the yr on a powerful notice. We executed to our plan in This fall, transport a number of G4 programs which at the moment are put in and operating in buyer labs,” mentioned Drew Spaventa, Chairman and Chief Government Officer. “In 2023, we’ll stay centered on scaling manufacturing of G4 devices, increasing our buyer base, and advancing improvement of our product roadmap.”

    Singular Genomics plans to launch its full fourth quarter and full yr 2022 monetary ends in March 2023.

    About Singular Genomics Programs, Inc.
    Singular Genomics is a life science expertise firm that develops next-generation sequencing and multiomics applied sciences. The commercially out there G4 Sequencing Platform is a strong, extremely versatile benchtop genomic sequencer designed to supply quick and correct outcomes. In improvement, the PX system leverages Singular’s proprietary sequencing expertise, making use of it as an in-situ readout to take a look at RNA and proteins in single cells and tissue. With these merchandise, Singular Genomics’ mission is to empower researchers and clinicians to advance science and drugs.

    Ahead-Wanting Statements
    Sure statements contained on this press launch, aside from historic data, represent forward-looking statements throughout the which means of the federal securities legal guidelines. Ahead-looking statements embody and should not restricted to statements concerning: (i) our preliminary income estimate for fiscal 2022; (ii) our capacity to efficiently manufacture and commercialize the G4 in accordance with our timelines, targets and specs; (iii) the market alternatives for our product choices; and (iv) the flexibility of our product choices to efficiently compete with current and new merchandise supplied by our opponents. Any such forward-looking statements are primarily based on our administration’s present expectations and are topic to dangers and uncertainties that might trigger our precise future outcomes to vary materially from our administration’s present expectations or these implied by our forward-looking statements. These dangers and uncertainties embody and should not restricted to the next: (i) our preliminary income estimate for fiscal 2022 is topic to materials adjustments and changes as we full our monetary closing procedures and our monetary statements are reviewed by our outdoors auditors; (ii) we now have incurred important losses since inception, we anticipate to incur important losses sooner or later and we could not have the ability to generate adequate income to to assist our enterprise plans and future operations; (iii) we now have little or no historical past manufacturing and commercializing our merchandise or expertise; (iv) the life sciences expertise market is very aggressive, and if we fail to compete successfully, our enterprise and working outcomes will undergo; (v) if we’re sued for infringing, misappropriating or in any other case violating mental property rights of third events, such litigation may very well be expensive and time consuming and will stop or delay us from creating or commercializing our merchandise; (vi) if our merchandise fail to realize early buyer and scientific acceptance, we could not have the ability to obtain broader market acceptance for our merchandise, and our revenues and prospects could also be harmed; (vii) we anticipate to be extremely dependent upon income generated from the sale of the G4 and deliberate PX, and any delay or failure by us to efficiently manufacture and commercialize the G4 and deliberate PX may have a considerable hostile impact on our enterprise and outcomes of operations; and (viii) the COVID-19 pandemic and up to date macroeconomic circumstances have adversely impacted, and should proceed to materially and adversely impression, our enterprise, operations and product manufacturing and commercialization targets. These and different threat elements which will have an effect on our future outcomes of operations are recognized and described in additional element in our most up-to-date filings on Varieties 10-Ok and 10-Q and in different filings that we make with the SEC sometimes, together with our Quarterly Report on Type 10-Q for the interval ended September 30, 2022, filed with the SEC on November 7, 2022. Accordingly, you shouldn’t depend on forward-looking statements as predictions of future occasions or our future efficiency. Besides as required by legislation, we undertake no obligation to replace publicly or revise any forward-looking statements contained herein, whether or not on account of any new data, future occasions, modified circumstances or in any other case.

    Investor Contact

    Matt Clawson
    [email protected]

    Media Contact

    Dan Budwick, 1AB
    [email protected]