Quantum-Si incorporated (QSI) stock surged 6.32% in the after-market trading session at the price of $6.73 despite no fundamental updates.

QSI has centered on transforming the emerging field of proteomics. The company’s suite of technologies is based on a semiconductor chip devised to digitize proteomic research and facilitate protein sequencing to advance drug discovery and diagnostics.

QSI Joined NASDAQ Biotechnology Index

On 14th December 2021, QSI reported joining the NASDAQ Biotechnology Index. The addition has based on the results of the annual reconstitution index announced by Nasdaq on 10th December 2021. The inclusion in NBI became effective before the U.S. market opened on 20th December 2021.

The NASDAQ Biotechnology Index had established in 1993. It is a market-cap-weighted index that tracks the functioning of securities listed under the NASDAQ Stock Market categorized as either pharmaceutical or biotechnology. The companies in the NBI must fulfill eligibility conditions, including average daily trading volume, lowest market capitalization, and seasoning as a public company. NASDAQ chooses members once per year during December.

QSI Third Quarter 2021 Financial Results

On 10th November 2021, QSI reported financial results for the Q3 ended 30th September 2021 and presented business updates. For the Q3 of 2021, the net loss totaled $18.1 million. The net loss was $8.6 million for the Q3 of 2020. On 30th September 2021, the company had $500.2 million in cash, cash equivalents, and marketable securities. Operating costs were $25.2 million during the Q3 of 2021. It represents a gain of 194% from $8.6 million in the Q3 of 2020.

Management Comments

Chief Executive Officer of QSI, John Stark, remarked that they had achieved substantial growth across their core foundational goals during the quarter. Now, the company has ten different sites in the Early Access program. They are motivated by the increasing spirit in the scientific society as they advance from known protein confirmation to resolution at structural levels. Through its unique Time Domain Sequencing approach, QSI is well-capitalized to follow its mission of transforming the field of a single molecule protein. They look ahead to reporting further progress by next quarter, he added.


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