On Monday, 09 June 2025, Quanterix Corp (NASDAQ:QTRX) presented at the Goldman Sachs 46th Annual Global Healthcare Conference 2025. The company discussed its strategic outlook, focusing on its innovative Simoa platform while addressing challenges such as academic funding concerns and biopharma project delays. Quanterix aims to broaden its market reach and achieve profitability by 2026.
Key Takeaways
- Quanterix is expanding into immunology and oncology, aiming to increase its market from $1 billion to $5 billion.
- The company is preparing for the launch of Simoa one and its associated consumables, targeting broader accessibility.
- Quanterix plans to submit its LUCIN AD complete test for Alzheimer’s to the FDA, leveraging its neurology expertise.
- A cost savings program aims to save $55 million by 2026, focusing on volume-related and G&A adjustments.
- The pending Akoya acquisition is expected to bring $30 million to $40 million in synergies.
Financial Results
- Consumables: Record performance with over 20 new assays launched in the past year, with similar growth expected.
- Instruments: Stable year-over-year performance.
- Accelerator Services: Grew 36% last year, but facing delays in pharma and biotech projects, shifting from Q1/Q2 to Q3/Q4.
- Government End Market: Approximately 20-22% of customers have NIH exposure; CapEx remains challenging.
- Cost Savings Program: Targeting $55 million in savings by 2026, without impacting R&D or innovation.
Operational Updates
- Accelerator Lab: Transitioned from "try before you buy" to a sustainable business model with pharma clinical adoption.
- Consumables: Increased volumes due to scalable manufacturing.
- Simoa one Launch: Expected before year-end, focusing on immunology.
- Simoa one Consumables: Oncology immunology-focused consumables to be compatible with over 20,000 flow cytometers by early 2026.
- Future Outlook
- Expansion: Targeting immunology and immuno-oncology to grow the addressable market.
- Akoya Acquisition: Anticipated synergies of $30 million to $40 million, aiming for profitability in 2026 with revenues above $200 million.
- Alzheimer’s Testing: Planning FDA submission for LUCIN AD complete; sees major opportunity in therapy monitoring.
- Simoa for all labs: Expanding from neurology to immunology and oncology.
Q&A Highlights
- Biopharma Project Delays: Projects are delayed, not canceled, due to budget issues.
- Academic Research Funding: Experiencing decision paralysis, but mitigating pressure through services and consumables.
- Alzheimer’s Testing: Confident in multi-marker approach despite existing FDA-approved tests.
- Adoption of BBMs: Therapy adoption expected to drive BBM use in Alzheimer’s management.
- Health System Partnerships: Most partners prefer on-premises capabilities.
In conclusion, Quanterix is poised for significant growth and innovation, with a focus on expanding its market presence and enhancing its product offerings. For a more detailed discussion, please refer to the full transcript below.
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