Quanterix Stock Price, News & Analysis

Kent Lake, holding 7.25% of Quanterix (NASDAQ: QTRX) shares, has issued a strong opposition to the proposed merger with Akoya Biosciences (NASDAQ: AKYA). The investor presentation highlights several concerns:

The deal values Akoya at nearly 5x higher than Quanterix despite Quanterix's superior market position, leading to a 40% decline in Quanterix's shares since announcement. The merger process revealed Quanterix as the sole bidder after other potential buyers withdrew due to concerns about Akoya's profitability and cash burn.

Key criticisms include: a proposed $30 million bridge financing to Akoya without clear shareholder approval, potential NIH funding cuts affecting Akoya's stability, and the deal's negative impact on Quanterix's promising Alzheimer's testing program. Kent Lake has nominated three independent candidates for Quanterix's 2025 Board election, arguing that abandoning the merger would create better shareholder value.

Quanterix (NASDAQ: QTRX) has reaffirmed the strategic benefits of its proposed acquisition of Akoya Biosciences, aimed at creating the first integrated solution for ultra-sensitive biomarker detection in blood and tissue. The merger will expand Quanterix's addressable market to $5 billion across neurology, immunology, and oncology, with an additional $10 billion opportunity in Alzheimer's Disease diagnostics.

The company projects $40 million in annual run-rate cost synergies by the end of 2026, with $20 million expected within the first year post-closing. Quanterix anticipates reaching $1 billion in revenue with 15% EBIT margins within five years after closing, with positive free cash flow expected by 2026.

The company also addressed nominations from Kent Lake PR for three board candidates, stating that Kent Lake's analysis contains flawed assumptions and inaccurate information. The transaction is expected to close in Q2 2025, pending shareholder approvals and closing conditions.

Kent Lake PR , holding 5.9% of Quanterix (NASDAQ: QTRX) shares, has announced its opposition to the proposed merger with Akoya Biosciences (NASDAQ: AKYA). The firm criticizes the merger terms, highlighting several key concerns:

The deal values Quanterix at only $42 million enterprise value compared to Akoya's $168 million, despite Quanterix's superior revenue and growth prospects. Kent Lake argues this merger would reduce Quanterix's cash runway from 6.5 to 2.5 years and distract from its important Alzheimer's diagnostic expansion.

Kent Lake views the deal as a bailout for struggling Akoya at Quanterix shareholders' expense. The firm urges Quanterix's Board to abandon the merger and explore alternatives, including standalone growth or a potential sale exceeding $1 billion. Kent Lake plans to mobilize shareholders against the deal and may nominate directors at the 2025 Annual Meeting.

Quanterix (NASDAQ: QTRX) reported preliminary Q4 2024 revenue of $34.9 million, representing 11% year-over-year growth, and full-year 2024 revenue of $137.2 million, showing 12% growth. The company delivered its seventh consecutive quarter of double-digit revenue growth despite challenging capital spending conditions.

Q4 2024 breakdown shows: Instruments revenue at $3.1 million (-6% YoY), Consumables revenue at $17.4 million (flat YoY), Accelerator revenue at $8.6 million (+22% YoY), and Other revenue at $5.8 million (+57% YoY). The company used $4.4 million cash in Q4.

For full-year 2024: Instruments revenue was $10.5 million (-33% YoY), Consumables revenue reached $69.3 million (+8% YoY), Accelerator revenue hit $38.0 million (+36% YoY), and Other revenue was $19.4 million (+30% YoY). The company ended 2024 with approximately $292 million in cash and equivalents, using $32 million cash during the year.

Quanterix (NASDAQ: QTRX) has announced a definitive merger agreement to acquire Akoya Biosciences (NASDAQ: AKYA) in an all-stock transaction, creating the first integrated platform for detecting blood- and tissue-based protein biomarkers. Under the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each Akoya share, representing a 19% premium.

The combined entity expects to generate $40 million in annual cost synergies by 2026, with $20 million realized within the first year post-closing. The merged company will have approximately $175 million in cash at closing with no debt, and a combined trailing 12-month revenue of about $220 million as of September 2024.

The transaction is expected to close in Q2 2025, with Quanterix shareholders owning 70% and Akoya shareholders 30% of the combined company. The merger aims to accelerate biomarker translation from research to clinic and expand technology offerings across neurology, oncology, and immunology markets.

Quanterix (NASDAQ: QTRX) announced that David R. Walt, co-inventor of the Company's Simoa technology, has been awarded the National Medal of Technology and Innovation by the President of the United States. This prestigious award, established by Congress in 1980 and first awarded in 1985, recognizes American innovators who have strengthened the nation's economy and improved quality of life through technological innovation.

The medal, administered by the U.S. Patent and Trademark Office, acknowledges Walt's contributions to technological advancement. According to Masoud Toloue, President and CEO of Quanterix, this recognition highlights the significance of Simoa technology in early disease detection using non-invasive methods. The company has established itself as a leader in Neurology and is expanding into Immunology and Oncology markets.

Quanterix (NASDAQ: QTRX), a leader in ultrasensitive biomarker detection, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company's President and CEO, Masoud Toloue, will deliver a presentation on Wednesday, January 15, 2025, at 4:30 p.m. PST at the Westin St. Francis Hotel in San Francisco.

The presentation will be accessible via live webcast through the Investors section of Quanterix's website. The company will also conduct one-on-one meetings with institutional investors during the conference. A replay of the webcast will be available for a time after the event.

Quanterix (NASDAQ: QTRX) announced the acquisition of EMISSION, a Georgetown, TX-based manufacturer of magnetic beads for diagnostic assays. The acquisition, valued at $10 million upfront with potential additional payments of up to $60 million based on technical and performance milestones, is expected to close in January 2025.

This strategic move aims to vertically integrate EMISSION's proprietary bead technology, securing core components for Quanterix's next-generation Simoa platform and enabling OEM opportunities with third-party platforms. The transaction is anticipated to be accretive to revenue and gross margins in 2026.

Quanterix (NASDAQ: QTRX) received a notice from Nasdaq on November 21, 2024, regarding non-compliance with listing rules due to delayed filing of its Q3 2024 Form 10-Q. The company has until January 20, 2025, to submit a compliance plan. The delay is attributed to the need to restate financial statements from 2022-2023 and multiple quarterly periods through Q2 2024. The notice does not immediately affect QTRX's Nasdaq listing, and the company expects to complete all required filings by end of 2024.