Singular Genomics Systems, Inc. Stock Price, News & Analysis

Singular Genomics Systems (Nasdaq: OMIC) has completed its acquisition by Deerfield Management Company. The transaction, announced on December 23, 2024, involved Deerfield acquiring all outstanding shares at $20.00 per share in cash. Following shareholder approval on February 19, 2025, Singular Genomics has transitioned to a private company and requested delisting from Nasdaq.

As part of the transition, Josh Stahl has been appointed as CEO and Board member, while Jason Myers joins the Board. Drew Spaventa, co-founder and previous CEO, will remain on the Board and serve as special advisor to the CEO. The company will continue its focus on next-generation sequencing (NGS) and spatial multiomics technologies, with the private structure providing greater flexibility for business strategy advancement.

Singular Genomics Systems (Nasdaq: OMIC) has announced a definitive merger agreement with Deerfield Management Company. Under the agreement, Deerfield will acquire Singular Genomics for $20.00 per share in an all-cash transaction, representing a 254% premium over the last closing price before Deerfield's initial proposal on September 12, 2024.

The transaction, expected to close in the first half of 2025, will take Singular Genomics private, providing greater flexibility to advance its business strategy. The deal requires stockholder approval and is not subject to financing conditions. The company's Special Committee, composed of independent directors, led the negotiations and unanimously recommended the merger agreement.

Singular Genomics Systems (Nasdaq: OMIC) reported Q3 2024 financial results with revenue of $0.4 million, primarily from consumables sales. The company shipped two G4 systems and the first G4X Early Access instrument. Net loss was $16.8 million ($6.72 per share), compared to $22.4 million ($9.25 per share) in Q3 2023. Operating expenses decreased to $17.8 million from $24.5 million year-over-year. The company ended the quarter with $113.8 million in cash and investments. Gross profit was negative $0.3 million, impacted by reagent rental placements and system support costs.

Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company specializing in next-generation sequencing and spatial multiomics technologies, has received an unsolicited non-binding acquisition proposal from Concentra Biosciences, The offer is to acquire all outstanding shares of Singular Genomics for $12.00 per share in cash. Alternatively, Concentra proposed offering a contingent value right for interested stockholders to participate in future value realization.

Tang Capital, the controlling stockholder of Concentra, owns approximately 14.9% of Singular Genomics' outstanding common stock. The company's board has previously formed a special committee of independent directors to evaluate strategic alternatives, including this proposal. TD Cowen is serving as the financial advisor to the special committee.

Singular Genomics Systems (Nasdaq: OMIC) has received a non-binding acquisition proposal from Deerfield Management Company and affiliated funds. The offer is to acquire all outstanding shares not already owned by Deerfield for $10.00 per share in cash. Deerfield, an existing stockholder, plans to invite other major stockholders and management to rollover their shares into the new company.

A special committee of independent directors, previously formed to evaluate strategic alternatives, will consider this proposal. The company emphasizes that there's no assurance of any transaction being consummated. TD Cowen is serving as the financial advisor to the special committee, with legal advisors also appointed.

Singular Genomics Systems (Nasdaq: OMIC) reported Q2 2024 financial results and recent highlights. The company recognized revenue of $0.7 million, shipped 2 G4 systems, and advanced development of the G4X Spatial Sequencer. Key financial metrics include:

- Gross profit: -$0.2 million
- Operating expenses: $22.6 million
- Net loss: $21.3 million (-$8.57 per share)
- Cash, equivalents, and short-term investments: $133.2 million

The company launched a Spatial Sequencing Technology Access Services program and opened a Spatial Research Grant award program. Singular Genomics also amended a long-term lease obligation, reducing obligations by approximately $50 million.

Singular Genomics Systems (Nasdaq: OMIC), a company specializing in next-generation sequencing (NGS) and spatial multiomics technologies, has announced its plans to report second quarter 2024 financial results on August 13, 2024, after market close. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the results.

Investors can join the call by dialing 1-888-506-0062 (domestic) or 1-973-528-0011 (international) using conference ID 661035. A live and archived webcast will be available on the company's investor relations website.

Singular Genomics Systems (Nasdaq: OMIC), a company specializing in next-generation sequencing (NGS) and spatial multiomics technologies, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company had previously received a non-compliance notice on July 17, 2023, as its stock price had fallen below $1.00 for 30 consecutive business days.

To meet the compliance standards, OMIC's closing bid price remained at or above $1.00 for 11 consecutive trading days from June 26 to July 11, 2024. This achievement ensures Singular Genomics' continued listing on the Nasdaq Capital Market, resolving the previous compliance issue.

Singular Genomics Systems (Nasdaq: OMIC) announced a 1-for-30 reverse stock split effective June 26, 2024, at 12:01 a.m. Eastern Time. The company's common stock will trade on a split-adjusted basis under the current symbol 'OMIC'. The new CUSIP number will be 82933R 308. This move aims to regain compliance with Nasdaq's minimum bid price requirement. Approved by stockholders on May 29, 2024, the split will convert 30 existing shares into one new share, reducing outstanding shares from 74.7 million to approximately 2.5 million. Authorized shares remain at 400 million, and the par value stays at $0.0001 per share. No fractional shares will be issued; instead, they will be rounded up to the nearest whole share. The reverse split does not affect Series A Preferred Stock or the proportional conversion ratio. Continental Stock Transfer & Trust Company will manage the exchange, with stockholders receiving information regarding their adjusted holdings.