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Olink Reports Preliminary Q2 Revenues Between $17.3M and $17.7M, Inks Decode Deal

NEW YORK – Olink announced after the close of the market on Monday preliminary Q2 2021 revenues of between $17.3 and $17.7 million, more than double its Q2 2020 revenues of $7.9 million.

The company projected a net loss of between $10.4 million and $10.8 million compared to a net loss of $2 million in the year-ago period.

Olink also announced a public offering of 7,000,000 American Depositary Shares, or ADSs, each representing one common share of the company, to be sold by certain selling Olink shareholders. The selling shareholders, not Olink, will receive all of the net proceeds from the sale. The selling shareholders are expected to grant the underwriters a 30-day option to purchase up to 1,050,000 additional ADSs.

Goldman Sachs Bank Europe and Morgan Stanley are acting as lead bookrunning managers for the offering. SVB Leerink is acting as a joint bookrunning manager for the offering, while BTIG is acting as co-manager for the offering.

Additionally, Olink said on Tuesday that it has entered an agreement with Decode Genetics, under which the company will adopt and serve as an early testing site for Olink's new Explore 3072 proteomics platform, which comprises approximately 3,000 protein assays with a next-generation sequencing readout.

"We are proud to work closely with Decode Genetics' world-class genomic and pharmaceutical scientists," Olink CEO Jon Heimer said in a statement. "They have a very impressive track record of providing insights to enhance the vital research into the most common and life-threatening diseases. We believe this agreement demonstrates the accelerating trend to continue to connect the wealth of available genomic data with actionable proteomics. We see Decode Genetics as an exceptional early-access site for the Olink Explore 3072 platform."