Skip to main content
Premium Trial:

Request an Annual Quote

SomaLogic Q3 Revenues Grow 40 Percent

NEW YORK – SomaLogic reported on Monday morning that its Q3 2021 revenues were up 40 percent year over year, driven by an increase in assay service revenues.

For the three months ended Sept. 30, the Boulder, Colorado-based company posted revenues of $20.0 million, up from $14.2 million in the year-ago period.

Service revenue was $17.5 million, up 54 percent from 11.4 million in Q3 2020. Product revenue was $75,000, down 84 percent from $455,000 in Q3 2020. Collaboration revenue was flat at $763,000.

SomaLogic's net loss during Q3 was $41.4 million, or $.55 per share, compared to a net loss of $7.5 million, or $.12 per share, in Q3 2020. The firm used approximately 75.7 million shares to calculate per-share loss for Q3 2021 compared to about 61.1 million shares in the year-ago period.

The company's R&D expenses rose to $15.6 million, up more than twofold from $6.9 million in Q3 2020. SG&A expenses were $20.6 million, up more than twofold from $8.3 million in Q3 2020.

SomaLogic ended the first half of 2021 with $468.7 million in cash and cash equivalents, and $207.0 million in short-term investments.

The company raised its full-year 2021 revenue guidance to between $77 million and $79 million, up from its previous guidance of $66.7 million.

In September, the company listed on the Nasdaq after completing a business combination with special purpose acquisition company CM Life Sciences II that raised $630 million in gross proceeds.

In Monday morning trading on the Nasdaq, SomaLogic shares were up 2 percent to $13.03.

The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.