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|
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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|
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(Address of principal executive offices)
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(Zip Code)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on
which registered
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||
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Item 2.02. |
Results of Operations and Financial Condition.
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Item 9.01 |
Financial Statements and Exhibits.
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(d) |
Exhibits.
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Exhibit
No.
|
Description
|
|
Press Release dated August 8, 2022
|
||
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document)
|
QUANTUM-SI INCORPORATED
|
||
By:
|
/s/ Claudia Drayton
|
|
Name:
|
Claudia Drayton
|
|
Title:
|
Chief Financial Officer
|
|
Date: August 8, 2022
|
![]() |
● |
Successfully demonstrated the recognition of 15 out of 20 amino acids, representing a path to more than 70% coverage of the human proteome and identification of up to 90% of
proteins, including post-translational modifications.
|
● |
Released an application note, “Detecting Arginine Post-Translational Modifications Using Quantum-Si’s Next-Generation Protein Sequencing Technology,” demonstrating the use of
Quantum-Si’s PlatinumTM sequencing instrument to directly sequence arginine post-translational modifications.
|
● |
Executing well on our supply chain initiatives, including the build-up of PlatinumTM instrument inventory and scale-up of semiconductor chip and reagent kit production.
|
● |
Appointed Vikram Bajaj, Ph.D., to our Board of Directors.
|
● |
Held $400.7 million in cash and cash equivalents and investments in marketable securities as of June 30, 2022, providing sufficient runway to make key investments in the business.
|
● |
In recognition of the current macroeconomic environment, we have increased our efforts to manage costs and improve efficiencies. As a result, we now expect operating expenses to grow
40-50% year-over-year in 2022, down from a prior expectation of 70-80%.
|
Three months ended June 30,
|
Six months ended June 30,
|
|||||||||||||||
2022
|
2021
|
2022
|
2021
|
|||||||||||||
Operating expenses:
|
||||||||||||||||
Research and development
|
$
|
18,459
|
$
|
13,114
|
$
|
37,230
|
$
|
21,086
|
||||||||
Selling, general and administrative
|
11,741
|
19,050
|
20,110
|
22,857
|
||||||||||||
Total operating expenses
|
30,200
|
32,164
|
57,340
|
43,943
|
||||||||||||
Loss from operations
|
(30,200
|
)
|
(32,164
|
)
|
(57,340
|
)
|
(43,943
|
)
|
||||||||
Interest expense
|
-
|
(5
|
)
|
-
|
(5
|
)
|
||||||||||
Dividend income
|
1,052
|
2
|
1,907
|
2
|
||||||||||||
Change in fair value of warrant liabilities
|
2,337
|
(3,533
|
)
|
4,984
|
(3,533
|
)
|
||||||||||
Other (expense) income, net
|
(5,603
|
)
|
3
|
(17,140
|
)
|
3
|
||||||||||
Loss before provision for income taxes
|
(32,414
|
)
|
(35,697
|
)
|
(67,589
|
)
|
(47,476
|
)
|
||||||||
Provision for income taxes
|
-
|
-
|
-
|
-
|
||||||||||||
Net loss and comprehensive loss
|
$
|
(32,414
|
)
|
$
|
(35,697
|
)
|
$
|
(67,589
|
)
|
$
|
(47,476
|
)
|
||||
Net loss per common share attributable to common stockholders, basic and diluted
|
$
|
(0.23
|
)
|
$
|
(0.97
|
)
|
$
|
(0.49
|
)
|
$
|
(2.23
|
)
|
||||
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and
diluted
|
139,000,261
|
36,890,502
|
138,811,146
|
21,296,162
|
June 30,
2022
|
December 31,
2021
|
|||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
81,272
|
$
|
35,785
|
||||
Marketable securities
|
319,398
|
435,519
|
||||||
Prepaid expenses and other current assets
|
4,436
|
5,868
|
||||||
Total current assets
|
405,106
|
477,172
|
||||||
Property and equipment, net
|
12,562
|
8,908
|
||||||
Goodwill
|
9,483
|
9,483
|
||||||
Other assets
|
690
|
690
|
||||||
Operating lease right-of-use assets
|
15,411
|
6,973
|
||||||
Total assets
|
$
|
443,252
|
$
|
503,226
|
||||
Liabilities and stockholders' equity
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
2,370
|
$
|
3,393
|
||||
Accrued expenses and other current liabilities
|
7,912
|
7,276
|
||||||
Short-term operating lease liabilities
|
1,150
|
859
|
||||||
Total current liabilities
|
11,432
|
11,528
|
||||||
Long-term liabilities:
|
||||||||
Warrant liabilities
|
2,255
|
7,239
|
||||||
Other long-term liabilities
|
-
|
206
|
||||||
Operating lease liabilities
|
16,070
|
7,219
|
||||||
Total liabilities
|
29,757
|
26,192
|
||||||
Stockholders' equity
|
||||||||
Class A Common stock, $0.0001 par value; 600,000,000 shares authorized as of June 30, 2022 and December 31,
2021; 119,244,128 and 118,025,410 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively
|
12
|
12
|
||||||
Class B Common stock, $0.0001 par value; 27,000,000 shares authorized as of June 30, 2022 and December 31, 2021;
19,937,500 shares issued and outstanding as of June 30, 2022 and December 31, 2021
|
2
|
2
|
||||||
Additional paid-in capital
|
748,302
|
744,252
|
||||||
Accumulated deficit
|
(334,821
|
)
|
(267,232
|
)
|
||||
Total stockholders' equity
|
413,495
|
477,034
|
||||||
Total liabilities and stockholders' equity
|
$
|
443,252
|
$
|
503,226
|
Three months ended June 30,
|
Six months ended June 30,
|
|||||||||||||||
2022
|
2021
|
2022
|
2021
|
|||||||||||||
Net loss
|
$
|
(32,414
|
)
|
$
|
(35,697
|
)
|
$
|
(67,589
|
)
|
$
|
(47,476
|
)
|
||||
Adjustments to reconcile to EBITDA:
|
||||||||||||||||
Interest expense
|
-
|
5
|
-
|
5
|
||||||||||||
Dividend income
|
(1,052
|
)
|
(2
|
)
|
(1,907
|
)
|
(2
|
)
|
||||||||
Depreciation
|
608
|
235
|
1,060
|
448
|
||||||||||||
EBITDA
|
$
|
(32,858
|
)
|
$
|
(35,459
|
)
|
$
|
(68,436
|
)
|
$
|
(47,025
|
)
|
||||
Adjustments to reconcile to Adjusted EBITDA:
|
||||||||||||||||
Change in fair value of warrant liabilities
|
(2,337
|
)
|
3,533
|
(4,984
|
)
|
3,533
|
||||||||||
Other expense (income), net
|
5,603
|
(3
|
)
|
17,140
|
(3
|
)
|
||||||||||
Stock-based compensation
|
3,770
|
9,987
|
3,056
|
10,444
|
||||||||||||
Transaction related costs - business combination
|
-
|
6,920
|
-
|
6,920
|
||||||||||||
Adjusted EBITDA
|
$
|
(25,822
|
)
|
$
|
(15,022
|
)
|
$
|
(53,224
|
)
|
$
|
(26,131
|
)
|
Investor Contacts
|
|
Juan Avendano
|
|
ir@quantum-si.com
|
|
Media Contact
|
|
Karen Chase
|
|
QSI-PR@westwicke.com
|
|
Source: Quantum-Si Incorporated
|
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