Quanterix

The firm reported $14.9 million in revenue, driven by an 80 percent increase in product revenues, beating Wall Street expectations.

The firm offered more than 2.7 million shares of its common stock, including 356,435 shares to its underwriters pursuant to an option to purchase additional shares.

The firm expects to use proceeds from the offering to expand its life sciences commercial operations, and improve and update its Simoa technology and instruments, among other initiatives.

Quanterix intends to grant underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock at the public offering price.

The company posted Q2 revenues of $13.5 million, up from $8.6 million in Q2 2018 and above the consensus Wall Street estimate of $11.5 million.

Quanterix said that the acquisition will secure the supply of neurofilament light antibodies that are critical to its Simoa assays and services.

The company sold 2.2 million shares at an average price of $22.73 per share under a $50 million at-the-market equity facility it filed in March 2019.

The company posted Q1 revenues of $12.3 million, up from $7.5 million in Q1 2018 and above the consensus Wall Street estimate of $10.2 million.