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Business
12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business And Basis of Presentation

1. Business

Description of Business

Singular Genomics Systems, Inc. (the “Company”) is a life science technology company that develops next-generation sequencing and multiomics technologies. The commercially available G4 Sequencing Platform is a powerful, highly versatile benchtop genomic sequencer designed to produce fast and accurate results. In addition, the Company is currently developing the G4X Spatial Sequencer, which will leverage the Company’s proprietary sequencing technology, applying it as an in situ readout for transcriptomics, proteomics and fluorescent H&E in tissue, with spatial context and on the same platform as the G4. The Company’s mission is to empower researchers and clinicians to advance science and medicine.

The Company was incorporated in the state of Delaware in June 2016 and has its principal operations in San Diego, California.

Liquidity and Capital Resources

The Company has incurred net losses since inception and, as of December 31, 2023 and 2022, had an accumulated deficit of $337.6 million and $242.8 million, respectively. The Company has a limited operating history and the revenue and income potential of the Company’s business are unproven. From incorporation in June 2016 through December 31, 2023, substantially all of the Company’s operations have been funded by the sales of equity securities and issuances of debt. As of December 31, 2023, the Company had cash, cash equivalents and short-term investments of $173.9 million. The Company believes that its cash, cash equivalents and short-term investments as of December 31, 2023 are sufficient to fund its operations for at least 12 months from the issuance date of the accompanying financial statements.