Welcome to our dedicated page for Singular Genomics Systems news (Ticker: OMIC), a resource for investors and traders seeking the latest updates and insights on Singular Genomics Systems stock.
This page provides a historical news archive for Singular Genomics Systems, Inc., which previously traded on Nasdaq under the symbol OMIC. The company describes itself as a life science technology company developing next-generation sequencing (NGS) and multiomics technologies, including the G4® Sequencing Platform and the G4X™ Spatial Sequencer. Its news releases document product milestones, spatial biology data presentations, corporate transactions and capital markets developments.
Readers can review announcements about the G4 Sequencing Platform, which Singular Genomics characterizes as a powerful, highly versatile benchtop genomic sequencer designed to produce fast and accurate results. News items also cover progress on the G4X Spatial Sequencer, described as a system under development that will apply the company’s proprietary sequencing technology as an in situ readout for transcriptomics, proteomics and fluorescent H&E in tissue with spatial context.
The archive includes updates on spatial multiomics performance in FFPE tissues, 3D multi-omic reconstruction, Direct-Seq demonstrations for T- and B-cell receptor sequencing in tissue, and the company’s Spatial Technology Access Services program. In addition, corporate news covers events such as a 1-for-30 reverse stock split to address Nasdaq’s minimum bid price requirement, the receipt of acquisition proposals, the definitive merger agreement with an affiliate of Deerfield Management Company, L.P., and the closing of the Deerfield acquisition after stockholder approval.
Because Singular Genomics has stated that it now operates as a private company and has requested delisting from Nasdaq, the OMIC news feed serves as a record of its public-company history, technology development updates and key strategic decisions during its time as a listed issuer.
Singular Genomics Systems reported its second quarter 2021 financial results, revealing significant gross proceeds of approximately $258.1 million from its IPO, bringing cash reserves to $371.7 million. During the quarter, operating expenses increased to $13.9 million from $6.8 million year-over-year, with a net loss of $37.5 million, compared to $6.8 million in Q2 2020. The CEO emphasized progress towards the launch of the G4 integrated sequencing solution by mid-2022 and highlighted key partnerships and team expansions to support commercialization.
Singular Genomics Systems announced the closing of its initial public offering on June 1, 2021, selling 11,730,000 shares at $22.00 each, raising approximately $258.1 million. This included the full exercise of the underwriters' option for 1,530,000 additional shares. The shares started trading on Nasdaq under the ticker symbol OMIC on May 27, 2021. Major underwriters involved included J.P. Morgan, Goldman Sachs, BofA Securities, and Cowen.
Singular Genomics has priced its upsized IPO of 10,200,000 shares at $22.00 per share, aiming for gross proceeds of $224.4 million. Trading under the ticker OMIC will commence on May 27, 2021, with the offering expected to close by June 1, 2021. Underwriters have a 30-day option to purchase an additional 1,530,000 shares. This offering will help fund their innovative genomic technologies, including the G4 and PX Integrated Solutions, which focus on next-generation sequencing and multiomics.