QTRX - Earnings call transcript Q3 2024

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Operator

Thank you for standing by. My name is Andrea, and I will be your conference operator today. At this time, I would like to welcome everyone to the Quanterix Corporation Q3 2024 Earnings Call. [Operator instructions] I would now like to turn the call over to Vandana Sriram. Thank you. ahead. go Please

Vandana Sriram

good Masoud and me today's on Thank Quanterix's afternoon. President is Toloue, and call you, With CEO.

among statements a forward-looking will Before the Litigation we a recorded, for call of our We call regarding available actually the achieve website. of Investors for statements. information intentions, and contain results may remind to statements be not are section Act. the third other and investors Reform be or impact of of beliefs quarter expected our call. forward-looking on begin, I on meaning things, our preliminary few statements. as statements forward-looking and Securities would things. statements of U.S. the historical like the replay include, forward-looking management's Private plans, available will in These Today's and the our restatement you the disclosed will These the on This of date based assumptions within expectations this financial of

statements not a To the we our around our supplement and or cause by Commission. of in underestimated current trends in are statements We and other risks, such a for impact financial and our considered and longer we financial performance, in have period-to-period in the posted in for the our non-GAAP in from internal other the factors preliminary information uncertainties, filings analysis described restatement, GAAP expressed presented of materially certain Securities any with financial conjunction their presented accordance competitors. measures are uncertainties herein statements: substitute with the expected review of measures performance, implied our manner effectiveness with statements set period forward-looking are evaluate have involve basis, and our GAAP. risks on restated achievements non-GAAP we the encouraged and the most earnings that face presentation should these comparable our assumptions, future measures. or include complete believe different preliminary or financial the preliminary meaningful preliminary financial may actual comparing and as today. financial results, our to in results, These a provided important our that in unknown forth comparison results and used the may website be performance the directly allows preliminary the risks results that that reconciliation risks, operating presented known other uncertainties issued may of Forward-looking to and business The non-GAAP to control and that than financial achievements information measures risk non-GAAP be within our and GAAP operating to to to industry. our performance release over that Investors and scope reporting, assessing measures Exchange with take

of the Other connection third with adjustment will on cash any and the available be financial to results included a preliminary for of discussing based are balance, are unaudited our restatement changes basis, noted. we the revenue quarter subject and currently discuss we otherwise unless and Finally, in percentage the year-over-year today are than financial are only, statements. finalization on information,

our XX-K Form preliminary of report the in vary XXXX, quarterly our on report financial restated following which our quarter third the results today financial statements statements. for filing of the discussed will We could final from

Toloue. Masoud the Now I'd like to call over turn to

Masoud Toloue

and ultrasensitivity, related industry We're positioned our to delivering growth demand Revenues continues ability pleased of for where preliminary Vandana. improvements, to disciplined capital category uniquely Quanterix consecutive sixth you, from On continues and accelerator shown our to continued funding. growth of in XX% to technology consumables where XX% Simoa continued pressures Thank a by approach reflects lab, resiliency. a serve I'm customers to unique face non-GAAP quarter continued cost, leader from market despite to business, for business our our expansion. model quarter revenue driven of a basis, has million report we our outperform, third opportunity margin XX% X% diagnostics. quarter, enablement and see our a in growth gross this traction grew $XX.X price, with partner operational double-digit

cash a in advancing will touch million more to the $X sheet $XXX results our are with reaffirmed of priorities these strategic and guidance detail. million of on in balance quarter. our nearly usage Vandana We liquidity down and

menu, core growth our in reminder, and neurology with our two, immunology Simoa achieve high-growth of adjacencies; all labs resources ubiquity into oncology. our As leadership are we objectives one, to maintaining provide our to customers are: X specifically allocating where a and in solutions growing position in goal

a new additional neurology Year-to-date, markers. another which plans expanding products, assays an XXXX. diagnostic NXPD combines global ultrasensitive And build will the and multiplexed by year. great to X platform three, have higher several In leading relevant in disease. novel XX launch with we menu expect We achieve culminate the this commercialized detection, on total for testing Alzheimer's BD-Tau menu to of We're protein end neurology, into launched making assay, a new of and recently new progress which in our will with including sometime we with adjacencies. infrastructure the growing multiplexes we

is Our we for important inflammation Simoa immunology publications, customers, I'll developments. that our neuromultiplexes work. lot and platform. cytokine X using performed we kits discuss support long-running being last new NXPD. expect performing our X-Plex In over launched couple transitional studies X and X,XXX will months, well, there of built a adoption and the With similar

gain and vesicles used aided molecular isoforms tau recent with of assay EVs Medicine, to to a with conditions engaged frontal EV ALS. vesicles is of TDP-XX. field a the from dementia, using disease workflows. extracellular multiple FTD, EVs evaluate into in products plasma that study important detection extracellular of or progression for our believe Quanterix's be pathology and aimed testing the streamlining part new new for body related evaluate an We to literature paper disease TDP-XX First, leading pathology. short, example researchers in This of Nature temporal will of showed researchers biomarkers areas or repeat these This to are spanning at growing and insights Simoa research and probe

Second, GFAP has examined B-cell monitoring in progression. with an continued whereas that increased Quanterix's with upon findings is of MS. associated suggests an body This key customers analytes risk as rationale neurofilament October data Kuhle's evidence patients XX publication Kuhle both NfL progression. and disease or efficacy to assays used monitor our of Annals GFAP depleting NfL relapse light. therapy monitor sclerosis These findings in patients, the and Neurology, a Prof. only past work much activity that, of Jens elevation support for MS Prof. such of for to in informative NfL after build GFAP, with MS multiple an when and growing are and evaluating biomarkers GFAP the drug of

month, of multi-marker strategy, the Alzheimer's testing. Moving assay last the of continue as lab-developed from to growth test. Conference Beginning trials LucentAD Alzheimer's on progress in with pillar disease to we the Complete, Disease announced third our our news launch we the a recent clinical

expect we this reduces clinical combines assays maintaining to marker and In customers multiple single to Sinai accuracy would long p-Tau interest specialty using XXX want as be best-in-class primary shown blood-based diagnose examining comprehensive from Mount XX%. Demand Health offering, upon predominant intermediate This the to and We've to have more by our Davos results diagnosing providing patients. across strong information while Alzheimer's term, deploy test overall the also been they the threefold above clinicians multi-marker the most disease. and single region an amyloid multi-marker over GFAP already In this algorithmic Collaborative. blood-based begun builds our beta September, patients. XXX NfL, Sinai for testing and provide our that a Alzheimer's detection to will uses as announced GFAP, algorithm this early develop. Mount cohorts, across p-Tau XX/XX a through pTau-XXX, the result. In data reminder, biomarkers X,XXX from see care a grant with settings. has patient X be our As NfL, and patients test System method tools

pTau-XXX engage also on continue our submission. We marker to with single FDA the

our year. We up clinical next expect validation studies wrap to

with process. p-Tau-XXX submission single the regulatory marker use and clinical its same single as we our will a therefore, trials FDA marker expect trail test, multi-marker timeline Our to closely

on been update global to estimated approximately diagnostics an development. early an biomarker XX testing. Finally, has blood-based million individuals China With Alzheimer's of disease, adopter have

making sensitive biomarkers Simoa and This a Simoa disease's of plans infrastructure. financial clinical our of system, the great As initiatives to treat registration progression, which In we Alzheimer's our states, Alzheimer's Chinese now critical such as Alzheimer's in a UDX we're accessible is technology. technology several UltraDx for received population. help to for testing Vandana testing. build our example discuss other September, blood-based infrastructure aging will the important as the early to build our for to use view disease market noninvasive global superior large uses China and region partner, China, an IVD UltraDx on a UDX highly approved country with diagnosis working with blood-based an its therapies thereby LEQEMBI performance.

Vandana Sriram

now guidance reaffirmed will XXXX. go third-quarter for I Masoud. you, our Thank our results over and preliminary

unaudited revenue forth restatement year. currently to our release. are by represent These in period the those to the like I'd strengthen reporting the Before available related is that estimates to controls. rates. to end continue we these correct for this periods. need adjustment. remind potential are the the leverage statements I'd impact the on And prior preliminary note Please our our from on to restate strength to like financials, certain that underway the earnings and on also are and that financial figures underlying this the of set these to go schedules of restatement, our and attached to refer disclosed We impacts errors the you internal subject business company emphasize I we complete restatement the growth no and the schedules best to to to Actions above-market you intend processes information through of preliminary comparisons. prior-period based there noncash and of

revenue was XX% an As Total was for to outlook million, third increase expansion custom Masoud be assay an the $XX.X offsetting was to of challenging. the strength in year. decrease and a revenue and of quarter revenue, XX%, for margin was million, increase which XXXX compared compared described, burn. the X%, in of of of year an prior prior trials $X.X growth instrument the revenue the million, instrument third improvement increase our Consumable revenue by cash Accelerator continues of Lab and testing Similar and double-digit million, sequential $XX.X quarters, driven to prior $XX.X XX%. services in development. clinical quarter the trend to continued decline

the created helped has continuing license our offering quarter $X.X accelerator a valuable include differentiated Total the was of our of double-digit highlighting diagnostics, $X.X revenue to partners enablement has growth, our a increase million related revenue demonstrate an tough franchise weather prior of cycle technology. Other for million ultrasensitive However, Simoa in and that million. from us million $X.X quarter. the $X.X sales from demand diagnostics

revenue patient and neurology accelerator sales mix academia testing between the terms Revenue II, customer testing immaterial trials. multiple Phase and In approximately including of III the stratification, for from in and were and was for Lucent XX-XX states, pharma assay of XX% disease services our was for I, period quarter. our

grew enablement was partners. strong was the period. momentum XX% North services lab America, which and grew in The XX% due Our diagnostics Pacific region from to led and in revenue the Asia Europe region down by our X% growth

XXX gross up Moving compared respectively, XX.X%, GAAP points to basis, preliminary for the basis $X.X year. were million and gross on a million $XX.X margin and On margin approximately QX. down and to prior profit

the the was Third and quarter XXXX. million million profit of $X.X of points, the XXXX We with and prior which Cash quarter the than prior $X.X non-GAAP cash cash, was a by period margin XXX equivalents, $X.X third improvement in an was $X.X gross basis $XX.X the compared third gross marketable respectively, to million cash. quarter million, approximately XX.X%, ended non-GAAP million. $XXX.X year up preliminary of but quarter preliminary net and flow million, securities, of restricted from by higher outflow period was

in our As had investments outlined assay significant priorities, at beginning we of adjacencies, development, advancing year, into the the diagnostics. strategic and this includes

we now margins burn to sheet, to business by balance support capital strategic achieve strong a and With disciplined strategy range. our of revenue will We to X-pronged core demonstrated improving plan. to million the address cash for implement our RUO the I continue breakeven continue continue guidance remainder allocation XXXX. will in $XXX flow the cash that to improve RUO expect $XXX million as

guidance the reaffirming we are previously issued. We

We XX%. Similarly, expect GAAP full-year guidance to XX% non-GAAP are $XXX reaffirming growth XXXX of midpoint. gross margin to and XX% XX% revenue our of of at we $XXX representing million, guidance our double-digit XX% margin million to of gross the

our thoughts before for assumption will questions. no now the in $XX for Finally, turn year. I Masoud to of there over is his change final back previous it burn opening approximately cash the call for million

Masoud Toloue

Thank X despite to you, macro deliver Vandana. Quanterix industry's for the continues reasons. backdrop

demand and First, robust. Simoa sensitivity unparalleled its is

we're which accelerator a efficient demand services, instruments Second, Simoa through or and able deliver to biopharma this data. receive non-CapEx way on for to is

our invested Third, sign comes translational of in it are when to and and no trials. neurology-related III customers heavily II Phase slowing there's studies,

clear through Breakeven to to is resilient company We business are decade. at our Simoa double and path our a noninvasive drive of a sheet growth neuro the specifically way of Today, disease. Alzheimer's tools for testing and Quanterix balance double-digit a cash take uniqueness the story, our some RUO digit, can beginning model, questions. fund opportunity breakeven. tools using differentiated we're growing existing ultrasensitivity, upside that Operator, we in to large leading such

Operator

[Operator Instructions]. Matthew question the Sykes of line first from And with Sachs. comes Goldman your

Matthew Sykes

about you diagnostic system characterize follow-up, you of utilization our to How customers? line And your expectations? quarter to trended has talk sales the Accelerator would in as And continues frame expectations. health outperform the my for the The I Lab the terms of existing Alzheimer's first partnerships? level one would in versus in wanted with your this from how new this

Masoud Toloue

Yes.

quarter, this up XX% made about business. obviously, the business. think Accelerator XX% excited about grew of our it I Accelerator very we're

have unique If you really you our recurring a consumables revenues, in XX% which sort strength of Accelerator together, the market. and of is add position

reoccurring quarter are So, customers back I would say Accelerator just about in XX% are this coming to the customers to of XX% us.

the enablement some strategy quarter, to while of we see testing instrument for terms being globe, LucentAD the driven continue quarter. placements and and immaterial did capabilities, for partners was around that the In diagnostics we enable the consumables through

Vandana Sriram

that's Yes, right.

On the about $XXX,XXX. quarter, of enablement million $X.X front, Last quarter. this we reported revenue we had talked

will partners individual So partners. as interest but our stood these from we get ebb up, and seeing good flow we're

being is We with also diagnostics Sinai referenced instruments Mount terms in testing. to them for our able use doing what of

spread progress and through footprint. the diagnostics to with pleased very So technology our starting see Simoa

Operator

Your comes next question Scotiabank. line Nam of Sung with the Ji from

Sung Ji Nam

as in how kind will providing terms guidance, think could be on diagnostics year? and could immaterial about Congrats quarter. Maybe sense year, like frame the puts a just, of takes this year, should we the but growth us the top-line next what I overall how know of that give to and without revenue different look you scenarios of we from next diagnostic, your a contribute could

Masoud Toloue

and with the more patient We is therapy then eligibility that changes accessible cost infusion therapies. isn't rural obviously, accessibility. help and and in with people and and kind obviously, Yes, conference and and this be it's directly and that's CTAD the really of the overall really ramp to going to for the should the going and marker accessibility beginning versus part towards LEQEMBI situation We question. of We to diagnostics, can reduce important to more just PET how last to of answer related think, at access We're of streamlined the to XXXX getting utilization an ramps. areas, that PET month it uncertainty PET this. be obviously, blood-based going how scans Kisunla, were

to therapy. the we'll is that much related markers We're trials say question, the that to I'd think we how the of of for of diagnostic of anti-amyloid excitement. of your at happening. testing We're seeing trials anti-tau on in to in it lot And year comment the utilization a are kind really clinical the how beginning correlated ramp seeing and year. obviously So therapies our

Sung Ji Nam

on then launching biomarkers, And assay. on just the congratulations multi-panel the

the Complete You used mentioned predominantly over that single LucentAD you in to marker be expect the the assay. future

remind maybe assays of narrow on wondering, Kisunla the wondering intermediate assay you all was for used or be the curious, improvement segment this Just Do think XXX BD-Tau also of what these marker is know could presented kind your reduction to multi-marker And between I the of to and threefold intermediate from single of expect the this you a BD-tau the being again panel as kind assay versus the of will new could terms then different of kind future? was be well? data kind of kind you for how mentioned I together able you fit you own also and BD-Tau LEQEMBI diagnosis? or zone. more in of the in therapies development under the kind do utilized also difference us

Masoud Toloue

sure. Yes,

Complete. LucentAD So starting your question on with

the So is it that NfL, Complete marker XXX only on the our LucentAD and marker, is Complete Abeta GFAP, a LucentAD LucentAD and single the is a XXX, test test, then improvement marker but adds XX significant single XX. and not

a that at X-marker X the algorithm markers and a single takes it's So provides test score. with patient an a look

Now, we able which the sort by patients definitive to threefold, single any marker of intermediate to provides reduce use number zone result the a we're additional essentially of higher algorithm, the test. and markers when versus more a

a at XX% XX%. intermediate As if tests compare, up single in have they you an industry, that's look typically to zone the or immunoassay marker

and this for seeing we've also where follow-up so, a about is and after of test in lot a excitement the And conversations we patients, at CTAD. been improvement CTAD launched market it,

your And So we're I very BD-tau. second then was excited question think, Sung around about Ji, that.

we're for the could staging differentiate enter brain tau of X-Plex now trials diagnostics. tau We being what's patients peripheral sources. going And some be but versus from in in multiplexes into And launched pathology, a to is recently, happening clinical to test. really, is ultimately important our we so ago also in added in able important the BD-Tau, we monitoring that where variants and these excited BD-Tau tau proteins a and in quarter about think

be could diagnostics I potential clinical the say still but marker for in So applications very would it's have research a in much and used to applications, research future.

Operator

Kyle Next line question with the comes Mikson Canaccord of Genuity. from

Kyle Mikson

Congrats on the good results.

talk for I first, product line revenue. the want So to about

on interplay kind of was between I just earlier, think it and but touched this specifically Instruments Accelerator.

the Instrument think I in was year-over-year. quarter down XX%

kind Accelerator Accelerator changing kind and that overlaps I And slipped the does revenue so. several like conversely Any think Instrument kind of XX% XQ? like progress over let's into that exchange next say, given that how of macro of dynamics up was or evolving? quarters, in

Vandana Sriram

Yes.

So of expect talk and to the we question, let how me the macro the evolve. then address we'll about part first

that this instrument versus We've seen at than So point, offset at now. almost pulling that there's definitely X quarters Instrument point is of the through toggle is more revenue Accelerator what what the from seen in an reduction out by Accelerator. play we've this really for perspective. And we're

buy So short consumables our with customers has, longer instruments buy the that of in favor. et like worked cetera. term, would the all that, toggle and in course, term, our In we to

with fact So performed, from perspective lot research how there's the again, trial Accelerator more just a instrument that of of. a that activity getting that Accelerator the it's the backdrop, with pleased than has it's of fair toggle, and is very also not share benefit its

how Instruments it. back. concrete seen we, love of we terms any would like to we the come see In this At in of future, signs point, forward move this see others, haven't

trial for as when do on come it's to a a that all the going will terms this expect double-digit well I as work. of on here. continue the Accelerator, So bit just back, us based perspective to though, slow seeing we assay a instruments even of recovery in be think development of that we're grower work of From be

also to growth. place So double-digit back instruments could scenario, believe double-digit. in a continue that would grow love the But are to in that Accelerator their see where to we we future,

Kyle Mikson

assume it's the three just theme. the kind as relatively flat for quarters next on maybe of gradual past throughout then a And be similar something assume of we're kind assuming just instrument restatement, the It's of Or 'XX should or early going steady maybe so it's any to I revenue but like some kind probably like that towards we and are waiting or picking XQ? improvement year, you outlook Maybe I'm predicted pushing maybe sure at inflection of been and year or quarter. flat. instrument the levels next kind you up point?

Vandana Sriram

Yes.

little So to early 'XX. a it's about talk

indicators like For are like. QX, a look our will lot like -- looked it will a instrument look that what early lot revenue QX

a For for us. XXXX, little it's early

or We any way signs this haven't seen that.

we So we'll more part year, into give early the get that. color the as on of

Kyle Mikson

forward? of because perspective? in And you a And steps, I'd CLFS back of like sales perspective, AD consumables parse model be as a LucentAD how a next little you walk the the in Could from one it about didn't just use that what's more How What this, come but to meantime are bit, terms detection look next the guess, kind out scale will partners? that to complete, missed that super Medicare then for you reimbursement like I going well I a do payment favorable perspective. Maybe I our team? time. them, guess, payer offline. from these a And can year? looks Just can just that, through I Is like guess? tests for next it from mainly going thinking commercial like you with

Masoud Toloue

Kyle. Yes,

will clinical five-marker on LucentAD, from XXXX. company you LCD or out obviously decision, want goal that a in on look which to that ends that really to submission the at decision focus the focused data ADLT and is to single ongoing sometime think really probably complete point if think make that our been a And that that the of I on studies, five-marker LucentAD the that an with the for provide us an came clinical we're in that for we we going perspective, always at $XXX. marker. had test Regardless a $XX first are there expect XXXX ultimately, single trials reimbursement $XX have test. utility was was for So We going, I markers, up and a four

that test, frame single a the looking And a something was than larger decided time it's for So expect because materially reimbursement marker. we're we multi-marker what that's sort of at.

Kyle Mikson

rather with How to to forth, important to scale out use basically, or and it Or are going team so are here? partners like because that? now a time budgets build than something going you you

Masoud Toloue

Yes.

Our strategy, both. Kyle, has been

that global testing. key the of the that that to one that for build by continue not partnerships. is just is infrastructure continue to going As sign we ourselves, to it things to And building focus our means So is reiterate we're right? we hospital on do

to out but reagents. We initiatives to Boston. continue using globally. time, to folks and not lot test same At globally, enable there, And in we're have get this we our our we want some just U.S. of in here the about going of the talked capacity a

XX have We systems. HDX

is superb a which team here, and test. to significant the our lab have group, ensure the access in over CLIA capacities We to Accelerator

Kyle Mikson

kind understand to that are help basically that one the going definition of question XXXX hear. in some like of to be interesting business? And one, immaterial for revenue but that's kind is next near in or final of you're it near term like in diagnostics. forward-looking of like you year, the What that could like on you business for then in of it's investment success that proof back just diagnostics the decide the for to I term, likely most a accelerate just kind that on points pull looking

Masoud Toloue

Yes.

therapies additional that before. I XX% growth robust. for market to Phase us trials, continue our now want to in X, to be coming a of robust are is think material. we're accelerated approved, demand and pretty two and point trials the these seen People this that seeing clear that will significant, there haven't We with that neurology rate. pretty trials for these and X, therapies X that's excitement I And are for the So make and number

the that start demand testing think that similarly for blood-based diagnostics see the for ramp, key if ramp. to I come therapies the two I to down to expect approved. driver also And will are we

and in very close diagnosis streamline to attention more we're obviously accessible blood think test noninvasive whole is that the and process that market. So scalable the obviously, as paying we a will

resource that In between and RUO a in in our to cash sheet million critical our to million use prior of revenue. invest. Key calls terms Obviously, of is balance reimbursement investments about utilization, achieve items talked we've for business for part breakeven our is And flow becoming $XXX continuing plan $XXX that. like diagnostics. and

We this single for marker PET. number reimbursement more will therapies and a demand accessible the in more and than current the on what the test have And it's rate high market. then much ambitions much than a market sophisticated the obviously, as in be two LucentAD for

So proxies investment two I would kind towards of allocation as view gauging how diagnostics. capital in we're important for those

Operator

the of TD And line Dan comes with from next question Brennan Cowen.

Daniel Brennan

back go question up to wanted I follow and asked earlier. maybe on a that was

So lowest the zone business? will now each BD-Tau, in pTau-XXX, all for specific take see you potential accuracy Do essentially do multi-marker accuracy. all data intermediate cases that on you assay? you and have one Or use good showing think the highest has the

Masoud Toloue

said an first, important that is ultrasensitive platform, a platform the coming get sensitive And for to think patients that an result. see Simoa because to platforms. with I neurologist a Kyle, it's less will factor be other consider Yes, all can't

tries make systems. to a immunoassay the think clinician a factor I that's decision different between differentiator So when key first

for the the this test, five down that's think add with making thing markers to and you're decision. invasive good zone. it's patient, accessible not intermediate second I decision-making, comes the only the follow-on a testing. definitive When giving multi-marker this more scalable also hopefully you just result but less for a much and algorithm, And more

launched was platform pillar ago, launched then look, we third multi-marker a our pTau-XXX is interesting. since the pTau-XXX. of would Simoa you And I We've use after, second So And test. key really X that, that's short like why the maybe years in they innovative very to another and would the delivering a that you a five-marker clinician test. And investment. have looking chooses markers to the laboratory company really can to an down products we expect a exciting innovative pipeline, make if or coming know a who's and platform, clinician Simoa that say customer

Daniel Brennan

assays? as Or clinical conversations larger customers, with therapy guess else? in uptake and is really revenue gating factor is of something maybe the I follow-up, performance blood-based And a for your availability it

Masoud Toloue

an it So was item interesting. This that was discussed. was

inaccessibility I are of Obviously, and is really think important therapy by an there. have gated to there's that eligibility. adoption to an Ultimately, key infrastructure sort this gating that sort testing diagnostics and of all factors. These PET. uncertainty, infusion, is

egg need infrastructure is that So out component Or therapy a chicken has you that more and scaling you have the We a I for to there the folks is make be me? hey, and to the going first-line so therapy test right even can getting plaques? the key therapy it's and see amyloid am this patients. if, choice. to patient clinicians for blood help for think And that, a definitely it's and

Operator

next line with questions Leerink from of Puneet Partners. The come the Souda

Puneet Souda

So ultimately screening? where for the elaborate can on be you stage an multi-marker late the assay from to immunoassay all you Do rule-in, of harder where broader on platforms just us other you And bit classify this. patients is is it first help understand one, assay way why the to do the to this rest able think stands test, market? the today can versus a rule-out

Masoud Toloue

markers. and at at there marker almost the test a Yes. The systems, the Complete Thanks, or algorithm. diagnostic at an question. other for all Puneet, will maybe immunoassay-based look LucentAD two of most with a out single time systems, a five-marker systems is majority or

this So test five is provide to first an and markers that an answer for immunoassay at the algorithm Alzheimer's looks disease. uses

market, multi-marker significantly, so best going test, key years zone comes when reduced a Two that have test. you test and a were to assumed it it look this patients for large better at we blood-based test. when unique single much that's that in factor, is always and and developing a think ultimately to these test zone the planned tests, when the multi-marker with we marker ago, we is test I the for So makes be intermediate a

Puneet Souda

for given efforts mean, think elaborate maybe and how Woodring, ongoing Then FDA XXXX? I just OpEx the efforts just can commercialization for you should we underway, both in approval about

Vandana Sriram

to the all other side, we costs studies representative next we had test. as all is the move the the all last ability for of into run well over couple year, study constant. to the of been the taken question, to OpEx we through this Yes. fast as as account year. the commercial required guided we or getting Puneet. that would cost at somewhat along. Thanks Then be all be of have as I the for We've of the would expect that had we into slow Getting efforts of rate commercialize for for go on the beginning market the the say When develops. we've of where quarters that planning to expect year, the into as

develops. diagnostics in to be quickly we in But, that OpEx do that flexibility the do how on the there year next expect investment ability So market or depending and we the on total, have the move slowly side. will additional very very

for the makes it talked up or step leading So we'll point, indicators versa. Masoud vice to that sense we'll And the investment, that watch about. at if that do

Puneet Souda

There research this have then broader as what wondering just concerns of seeing but the questions biopharma the well. nervousness some the academic in been simply given versus use-only academic, market. And around you're your among NIH political is assays a about and I'm core just number customers environment a customers your question, Masoud,

to a customers. wanted of the view from just what So seeing get you're academic

Masoud Toloue

Puneet. Yes,

half the have that was base installed think a side, So of has also that academia We're business an we assays. this and and excitement academic half quarter. pharma the seeing around from some capacity. underutilized significant very on new our makeup similar is We of

to at Xx more to throughput the output base. samples of of our our and think are goal more. look it with average lab, to installed is have that we new if than utilized the out to way Our average systems about is Xx assays academia in is being Accelerator the the in there compare these base existing sort this that One you installed

and So these be these want frequently. more it's systems a to achieve running systems obviously, not highly more, we're we to menu and that focused new on that, coincidence running

'XX, in that's So specific the We of have this and did likely to from benefits have We're good the more see by assays towards the and customers. academic these XX going year. team. or progress to academic pull-throughs year-end, new XX impact an we'll

Puneet Souda

see academic customers you softness that, clarifying within instrumentation just from But your did the sales?

Vandana Sriram

Yes.

Instruments' the on softness board. the were and instruments. think compared academic Both really prior slow to I was the across year pharma

Operator

of DeBourcy from question Research. the final Nephron line Thomas with And comes

Thomas DeBourcy

you can lot-to-lot continue consumables? PLUS related to maybe of maybe Has better consistency, some new refreshing Advantage just well as also And margin? your your a of then assays. terms gross utility been improved ongoing cost and I research side, in question I manufacturing of Simoa Just, of I to couple of around guess, as but that assays years that that cost the the adding also next contributed as guess, look out efforts in improved existing guess, related to, have the of obviously terms

Vandana Sriram

Yes, I this a take at can one. stab

question terms process but a a Advantage place thoughtful perspective, a the to is margin of we're taking Advantage customers our the first your on how to transition very to PLUS, us a that PLUS in is as with from doing helps So in manner. transition reminder,

new of PLUS consumable quarter, This on the they're eligible. XX% about Advantage our were sales lines

that, a effects to both it So that's new time, demand terms same some able make a introduce help does margins. signal, Again, on products. us of the transition. the continue margins but managing the being of we good not On in at it's to transformation on developments and positive

expect our of But for that products because as little all of on normal NPIs margins cause quarter, down the first those NPIs a making for those to and we're substantially bit brand-new and all do help well. they're about, a to as every the it So talked margins as of stabilize time. up that introduce that lot becomes we the Masoud us

Thomas DeBourcy

question. other And one then just

developing? potential Do in of obviously you're related diagnostic from You some patient mentioned Alzheimer's if to road doesn't Alzheimer's, to dementia, ALS, you working multiple see highly these and related opportunities down the additional biomarkers with have biomarkers sclerosis. that pharma which the

Masoud Toloue

absolutely. Yes,

remitting One did to research for of light. is with think light highlights neurofilament relapsing we be neurofilament important the We was going that MS.

I collaborators someone's of purpose research think and NfL database be normalizing the NfL and monitoring and normal of with combining going effort for some important a taking to build of GFAP. an by extensive studies GFAP progression. disease been There's to for we normative our the at levels highlighted are that and a look

is this just that markers. think of beginning I the

at this look to of in or a tertiary of If the be I a you neuro have trials, for a the growing marker efficacy. diagnostic all endpoint expect testing pipeline looking endpoint that's that's almost neuro some at the trials future.

Operator

no gentlemen, concludes are and you, Thank you questions that today's for there this call. time. joining. at Thank all and Ladies

now may You disconnect.

Quanterix (QTRX) 12 Nov 242024 Q3 Earnings call transcript