QTNT - Earnings call transcript Q2 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the Quotient Limited Second Quarter Fiscal Year 2020 Financial Results Call. [Operator Instructions].

As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Chris Lindop, Chief Financial Officer for Quotient Limited. you. Thank

begin. may You

Christopher Lindop

and Call everyone, Quarter for XX, Melissa, Quotient's ended welcome Earnings XXXX. Conference our good you, and morning, to September Thank Second Fiscal

Chief today Officer Franz me Walt, Joining of is Quotient. Executive

a at being is will through webcast, conference call conference replay later webcast the today Today's of available an live audio and www.quotientbd.com. be call

differ such guidance materially actual to future as During Quotient be will projections in events, projected this those future making results. from and statements Because the call, results with may forward-looking statements, including statements. deal operating forward-looking

include morning's that Additional information statements cause concerning Quotient's Securities including as XXXX. differ to X, materially update to found provided forward-looking this valid Commission these -- be are call forward-looking those The factors filings forward-looking obligation and this Quotient as could guidance of the Exchange actual the date, release. U.S. well only statements. and results in with in publicly assumes no from during statements today's projections And November as can in guidance

I'd turn Officer, the Executive to Chief Quotient's Walt. Franz to that, like call over With

Franz Walt

Chris. in Thanks, months. past pleasure a you review the X developments positive It's so many with great achieved to

of around the study time the field the in customers mind, IH have highly both it MosaiQ. in this have for V&V We the customers U.S. the ultimate European the with for upcoming IH to and offering, future its providing we product trials value expanded to results we initial of are effective inspire its delighted microarray With world. expanded critical and that for some confidence clear that believe completed combination SDS made menu be our and that will significant benefits

approved well, and panel. will completed faster an next we field approval. accelerate hands our the MosaiQ product first expect for also the the goes of This XXX(k) review which the initial customers of we have during menu means time device This SDS October, U.S. trial than for in required our initial this subject U.S. to a traditional are should be because BLA, important year. all the in the a to is calendar process SDS half successfully the If evaluation. can In first a

respect the on questions trial CMV had With is so with the half CMV we me of data, very set the had straight. field having to common record some population more let specificity, a than infection. virus

is is unlike labeling infection, population. blood to CMV a people However, other viral done only negative. CMV CMV negative because blood continue CMV with is results with blood. that are bag to small The positive This occurs to patient allowed respect for donate required

So a what relatively CMV bankers no of impact false on is results sector. and looking donation are negative positive have number donor for small the blood

the reason, high the design assay. in this focused CMV very a sensitivity we on For have of

on confident, that And are XX%. great the product the precedence, of the syphilis outstanding approved CMV performance based plus confidence as future We can give us of menu. assay of as CMV be low market with in XX.X% this sensitivity the specificity

MosaiQ annual meaningful confident recent facility side positive, of that been you I the launch additional When X manufacturing on feedback, overwhelmingly hypercare has very track customer the we success future. successful early completion the the to are audit, this which of near for in feel add initiation and commercial

X.X over on consistently to deliver continued the that years ago. have plans We we made

also couple have supply been U.S. to the which sample for gone testing. resolved, timing our certain material and now challenge initial there originally acceleration we that of trial forward impacted While to of the in than SDS the little access expanded required to of menus, IH part delay study rare have verification material field a due a the we V&V raw expected. also everything delays short as is planned, moving But have better

and The overcome. is much customers is, that microarray. that today, enhanced first deferral technology expanded development commercial productivity menu. good testing, IH to the from the That SDS for the allow our while the combination which platforms milestones news will away' represents replace more achieved blood initial The is automation, each end, we've Remember required of 'walk of donated and providing and characterized manual comprehensively unit blood. X different products a this

includes our additional expanded the focused will tests development X From on on which here between on, our and include panel XX X menu, tests. efforts ultimately which be up SDS to molecular will

We each menus of these tuned. so the stay expect to on data publish please performance in near future,

key access, productivity this and about and is Quotient. expansion the now we customers This delivered fronts. cost and unlock combination menu of reported, confidence on we greater on quarter's to which profit savings both for significant performance Everything and milestones even market expansion products, my reinforces

margin facility fiscal Campus, the this new the transition Turning the on cost of well of costs to over were we positively late Allan another campus. middle both $X.X move reagent, of state-of-the-art as Increased product volume, improvements, trended positive a sales the year, quarter, to year, also the trend. pricing the were by in operational Alba to the incurring conventional we gross million, quarter, business, sales prior we This the and contributed for our Quotient of product our new had recognizing previous last as Robb our time second In period, outstanding last ongoing year. quarter. following record manufacturing and

the a OEM other from payments contributed certain antisera of also for key $XXX,XXX development in the customer revenues Milestone earned of non-product reagent quarter. rare

business far me of call for year. the to Chris? over outlook rest and color year so With the the that, on let the our will who Lindop, Chris this CFO, on more hand provide performance

Christopher Lindop

sales. from is range half, attributable OEM $XX.X sales sales year's that million $X.X an increased happy to distribution product I'm our to last from first customers of Franz. The last in product million sales increase half second In to increase the original of of quarter $X.X $XX.X Thanks, both XX% and million, by in million. exceeding our were of product to quarter X% million second and direct report $X.X the and guidance year. fiscal first

the connection of our with there and which certain for OEM As other $XXX,XXX sale no prior revenue total largest customer, for in U.S. for development Franz comparable of noted, antisera rare was the the amount year. earned approval included in in revenues

And in can million direct year-over-year, sales. XX% sales cause in XX% quarter, which grew timing tend the year-over-year represented and sales OEM variability quarter the XX% of of fiscal reagent from the of XX% the product product of and Product customer In grew year, sales red comparative first average cell standing distributor $X.X quarter-to-quarter grew over to X% ordering longer and increased XX%. represented were direct last XX% versus while sales and $X.X Shifts of million year. half sales orders the X%, out sales, for OEM period. of year-over-year

by on profit profit in the positively was the impacted last yield, In pricing product line quarter year. mix $X.X million quarter, Gross of and increases. gross sales growth, million $X.X increased top from

in quarter the In the impacted year. addition, is transition contracted volumes, in last noncash and costs sales cost been site. to future quarter year, new investment of to relocation manufacturing completed the we The included have expenses, The base of offset by increases. -- And and former the margins improved compared the part the the incremental facility, this Allan of to higher ARC the to fourth of $XXX,XXX of yields of growth was by negatively XX.X% facility year. $XXX,XXX gross company's incurred quarter an in the Rob efficiency opportunities. XX.X% price in gross increased manufacturing term, duplicate the in short related Biocampus, margin which biocampus, was last approximately second on The in product last

in decrease In million. development includes year. fees, $XX.X research of advisory administrative in increase expenses general by expense The a this transition expense, Last did related to second $XXX,XXX included year-over-year facility administrative and $XXX,XXX year new recur expenses. year's offset comparison million operating costs in expenses an and increase and quarter, of Scotland, year. million which decreased $XX.X $XXX,XXX $XX.X the the other Operating general from and and in and an to $XXX,XXX loss not to to last $XXX,XXX our the sales was $XXX,XXX marketing compared and last

Stock quarter, and as increased as to result future related prior of the expense last year loss In of in arising first other prior year. the quarter, Overall, exchange and liabilities $X.X Interest consisted the XXXX quarter to expense compared future from cash foreign the $X.XX the of Accrued over million compensation the share. was million million the expense in the and note of April was fiscal facility per $X.X estimated the our $XXX,XXX of in of of during quarter million $X.X or million payable the incremental payable issuance. XXXX borrowings for down in royalty from expense result second million revaluation holders under year. increased expense of year. royalties note noncash restructuring ordinary second assets note Net interest quarter incremental also following expense December foreign in same net monetary currency. this other an $XX was $X.X senior million the $X.X currently the $X the net interest a denominated loss with a $X.X million note

and XX, sheet. outstanding, of were On long-term totaled $XX.X inventory XX, September reserve were amounted balance senior account million. $XX.X offsetting, expenditures second Moving million, an $X.X while me, and the investments to receivable net excuse accounts quarter. million Cash million. outstanding to million short-term on of million in other the September notes $XXX.X Capital cash were $X.X $X.X

moving guidance. Now to

product million million. previously guidance provided are We confirming ranges $XX between and of $XX revenues for

estimates is receipt $XX now under amortization $XX of be upon development million. million approval such $X fiscal estimated of operating for product of regulatory as Other full are million the between for losses expenses products We stock revenue $X expected Capital reduced milestone year certain revenue And compensation. and $XX.X our for payments risks full as have uncertainties. and approximately fiscal XXXX of that the depreciation, of include the such, and Estimated to million of these achievement expenditures noncash between for year development. the to operating year. loss $XXX,XXX and million portion million included $X involve remaining contingent

For product XXXX. to fiscal in the quarter fiscal range third our in of of quarter, $X.X compared million we third expect the million $X.X with sales million $X.X

the me to turn Franz. let Now back call

Franz Walt

much, Thank you Chris. very

months. what the XX So over moving now you expect to the next to can and future

and noted, have our be will on focus expansion menu I commercialization. As

Of course, following IH Europe near this be which trials, our U.S. the quarter. our of availability start to and plan term field menu we European in submission by in will the first expanded microarray achieved later

will This product, a the differentiated customers. when value-added SDS offering initial to highly with our provide microarray, combined and

customer the platform by usability testing in data of have molecular to advance to the center of obtain this and highlights menu platform customer our The the is of As our expansion completion use power I also a commercial will mentioned, of a purpose and include near-term to independent availability. blood understand permit evaluation exercise an both laboratory. of

at testing donor. positive for targeted involved samples the unpicked, for must and to cycle. requires of of state, donation retesting donated the to pools of each testing XX due test molecular Today, blood so such pooling least these individual each one time price tests to pool When identify be impacted the charged a disease in speak, the

we for individually, at will last to required have molecular be the the only against money they of not all present donation is centers loaded uninterrupted is time, are testing. automated time possible tested advances This in be allowing a that vision in today's and so microarray-based a Our multiplexing. low-cost on standard as workflow, test single years the molecular through each made continuous pooled X in microarray, save unique the can blood

way expanded include present the will plan first menu, V&V first and this to to plan ensure respect formally SDS quarter we data trials subsequent later menu required in expansion blood X with the XXXX, for our performance for the to paving SDS to that additional only We test safety. which Also, year. later year, for expanded submission complete of field world the around

they will and is expanded This to the simply product SDS menu. will which represent IH SDS replacing expanded cassette already used By serological then with platform, testing. today our testing SDS be the using initial able for for initial a third menu, retire a customers exclusively powerful opportunity

efficiency -- will savings using significant and customer serologic all growth testing modalities, a and huge donor in testing in customers workflow get the results revenue X a single per automated different quarter. need and Our that technology, serology providing X and for for immunohematology

training of such out sites With we hypercare respect of now reported, the this as so X have commercialization, effectiveness year. to the positive. of XX and far initiated very been we issues initial ease as use The all have setup, take total of launch on

lot to indications make but are a very early even learn to from these platform commit us expect early We will positive. which customer better, interactions our

highly and target addressable substantial. MosaiQ initial market The is developed for both

be Our the side, throughput which MosaiQ is donated transfusion provides. billion on This initial uniquely operating combined of donor market an panels able standard need the microarray safety and donor will from scale addresses focus and market $X.X industrial the on so-called multiplex on highly of of concentrated, testing automation the blood. compatibility which to benefit almost

the that the a steps remaining unique molecular such by in bring plasma industry have will required in Europe. immunoassay the term, diagnostics and screening be believe portion in continue panels make in valuable transfusion absolutely tests very commercial initially for to the all the and technology are also we I MosaiQ and laboratory execution And diagnostic to MosaiQ the potential focused capabilities will that donor tremendous which required market applications, of diagnostics future for large the near on for of as those transfusion But central to of diagnosis.

thank I'd for partners success the our With of that, employees tremendous like to contribution continued the all and Quotient. towards

operator I Q&A will session. ask to now the begin the

Operator

[Operator Instructions].

Our Jefferies. with Couillard question comes of the Brandon first line from

Brandon Couillard

the when thirdly, terms might on form how of right are think terms in capabilities decision some the sensitivity What you significant just pathway looking today to share there radar a is concordance to that in of might MosaiQ on a have presented that data who feasibility in understanding towards molecular expect of now? it do molecular to just will of molecular specifically? their that you take available screen be be customers update be adopt years? at us? of really influencing then it you do kind Franz, And And terms data. with perhaps in MosaiQ even of on few or will form Could

Franz Walt

Yes.

IH they obliged molecular go so SDS can't testing law the are much by it. without of do think types testing: our and I radar because all and X molecular So to very on is customers of they

initially, because it be complexity, of think, work. significant the combination also will they reduction I happy extremely first getting a that's replaces manual and

Then for and MDS the the us, SDS expanded then cherry are upside really application. on top, the the the

we the that know. us, for on MDS, So works bench

customer of our on Now works not protocol to we clinical a would like give third to with prove and party, And it a in a it the study scalable, do -- study to to hands a a trial. only it's bench.

also execute this If data, But the The we everything from publish goes on the plan in from depends is cobas is it customer head-to-head current will, availability. to and shortly November. then comparison right, now trial versus plan thereafter, it's November, Roche. and

we are application. state-of-the-art here against to benchmark the trying So us

Christopher Lindop

HIV, on And big they that HBV menu the and focus is the what call X, we'll HCV.

Franz Walt

Yes.

Brandon Couillard

in bit little whether of other with just confidence of on seven seven. syphilis microarray. of other seven Very relative and the the terms more work SDS good. not, just expanded a the SDS level that complicated dealing And markers difficulty or then your those about Talk other they're performance compared to of comprise all the with at X.X and CMV, markers to the

Franz Walt

Yes.

But make so So you And taken itself. kind as as in before, my we expect. progress. prepared of know can as And this very otherwise, we have they difficult complete, all disclosure. And wouldn't you far, made statement. available some don't what we remarks for quite in hurdles of every will some I you I indicated unless test are data are mean, -- we show them. confident, what soon is we it's already

straightforward chemistry. biggest It that more in glass proven cells hurdle red me, the a kind difficult the has than one on a was simplified IH take. blood microarray printing think to is on manner, the For I of

So works with proven -- up IHX, that syphilis, was one. the high have for we and difficult MVS think, immunoassays nine SDS the It with (inaudible). the that scale X it can most we with -- very to I the have confident panel we

Brandon Couillard

to from share four what hope can other initial And terms seven initial and timing are the the hypercare the sites. running last install as placements? the in Talk and of of and they begin the the sort you feedback Any of launch expect just of some learn one, on feedback to about sites things you specifically, tests? from

Franz Walt

it X like be mentioned, get depends with and The completed. I the more platform think initial have the you launch, takes between I but another and if Europe for will positive, but is the with customers everything manual hypercare about it than site are it very all everything recall, to we it and one competitors." X up and when days "Oh, only running hypercare convenience. are to days -- I competitor, the until think X takes have everybody Then the first starting and it's feedback from SDS, another IHX in X the trained, sites months instance, -- the that testing. and

So the doing to of complexity that, the of contributes alternative course, progressively length same with solutions. and

about all tests. of always convenience. it's were business inventing the not the Because in we are saying new we So

providing better We an the package. are and are optimization which Workflow of tests benefit of the business economic virtual savings, in course. then provides and in optimization required a

positive all So feedback, but about convenience.

I'm workflow positioning the about the They're we even correct. lining also get that's the are They're if U.S., test, So now this workflow one here in can looking talking later are talk not who to "Well, we So forward how to curious because really improved. tastes is reconfirmed. customers the up, performing. has And about the comment I talking improvement." my do to see MosaiQ -- to in me. think what

means, remember, I because XX any liked positive These whatsoever. have the sites years XX field hypercare like seen one I time, trials. trial field long but U.S. the other from got I SDS. also in for so feedback "It's are not best feedback it sites, is have innovation words, we not I think years." But And And in a they that instrument So was, forever. seen really

can that small make and to So I whether and affordable, same the convenience, comments be tries use, have their that's approximately They're to one cost do everything finally, I we think not comes it's from are be, microarray. life expanded company possible, testing. if sales fewer in be surprised us, workflow And improvement. would happy really will X going IH don't we they can talk are really for And manual ease hear it's go if are all the -- think that when comprehensive but there of it a how easier. we you to the about do many about

So positive feedback.

We be are that we didn't as thought. originally to we work, then resources it they calculated take can easier than to take of actually now another on to We also wanted XX the do sites. customer XX because We answer, X, no have don't X. But but well. for about then one part heard support and it's it initially of so much accommodate instead X

Operator

Our Joshua next the Cowen. of Jennings comes line from question with

Joshua Jennings

that data from funnel trial talk but you Just number incremental back. sites like be just was follow-up about just It And color held developing? hypercare could tremendous search. about a potential terms field on you're that's how demand weeks involved sites. historically in few progressing? just than any in, a can feedback tenders of your that that of you talked And last funnel is of sounds a just kind you AABB getting the

Franz Walt

Yes.

And XX% over customers had customers like the attending the demonstrations, recollect, you of XX for in if On the business U.S. are accounting we yes. the AABB, two

these So were employees.

some so these when ones, course, two Of relevant really presentation. a relevant, smaller customers it's and

rigorous. is, U.S., processes take more tender is And flexibility. in the Europe, more my are there And in the

it regulatory the the the slower in processes. to short have a because Europe, will take through BLAs, in longer in times we portfolio, takes the first U.S. get up given So approval Europe, but

a be but portfolio customers. the have later how our will there faster year steeper than Europe, in likely process and the take-up will because more the is We flexibility in maybe for organized most is

that and all there visibility, is the know what tool actually a we transparency are. everybody and the So upcoming tenders manufacturers on available for we tool, have tenders has Internet-based

potential that of have customers, is it in the lab. this good postponed actually I order to customers consider to able most to evaluate the for us have for our have thing their think -- I technology say, be or and tender

than half And well, so incorporated. as out take more it's so

how it's So this I be don't but an going to lead additional is know flexibility.

the tenders we there any not So lost few no last have months. because in were tenders

The will But need still IHX have sitting no-shows it our take having is that. based with and out. in be to, we this just combination. we the will predict. the what pending it nerves the to approval as or this have now we difficult So can because long yes. it now approved. well on And It's depends very we the questions few are when how all process received. IHX until this It's months, transparency is stopped is SDS on eligible have Because available, the tenders more more less. a

But we transparency. have

are opportunity that, for as a in we with the later write planning give way and the using and win. to the that to are We actually, to familiar, technology, a chance also specification the phase on customers now pre-tender come phase tender the have to we hypercare a launch play

to I think That's any not something anyhow So we need time do would losing afterwards. here. we're

and this you have interest. in tremendous XX% There's briefings of that XXX% There detailed in about customer of is product Europe awareness. received a they the expressed amount probably U.S. and

So...

Franz Walt

a have over not that industry Yes. weighted And in yet developed has product in that average never awareness the market. XX% I is the market like seen in the

Joshua Jennings

from give can happening I it two, to of the that IHX And release just testing. X-part in this One, And room have not press follow-up test you V&V any supply be just That's mean, why the on terms to the I then results did this impact how expanded I helpful. just clear mean, the any of detail just material challenge Great. wanted microarray. there's raw the more with is no solved? about question. again? for why -- or

Christopher Lindop

that we we just detected business the receipt start we going forward. cycle And supplier on takes about delayed any V&V. went months. quality reliable make our the and the no, supply with -- supply talking it that back change There's a a to that then... has process And in was didn't processes we're then obviously and issues and through, It to worked happened But their supply our It chain. in to revalidate of because in sure Yes. it with weeks, obviously a not ability have we takes time. supplier,

Franz Walt

The system is quality up. do with our we faulty and good thing fixed internal And it materials. didn't proceed

Christopher Lindop

Right.

Franz Walt

problems never we supplier. this And had with

to say always here corrected We picked it didn't now, We but that great, it a We was back have about okay. they in is change all it. the up. had us went a -- was process, change next and and batch tell

Christopher Lindop

Yes.

Joshua Jennings

just then expanded And IHX menu. on the lastly, Excellent. just

just can the V&V field field up from U.S. have levels results. then Can to the why And or in steps trials do differ just the us trials, remind us from concordance And terms field materially just to two, test? go one? you of You V&V V&V here the potentially U.S. help trials? how -- moving minorly

Franz Walt

Yes.

with study customers. the So we out have to work protocols the

have wait probability actually even to performance. to And believe field is trials. a is ready of improved We there execute we these until the customer

tests I Before we you are that have will instead XX like it all in of absolutely mean, XX. I and here confident the I need market. say, that's the we have go have be competitive to today, we performance here further,

everybody have as So you else. much twice than

lot So manual replacing of work. a

Normally, up the is results quality of fresh. the goes blood

actually up do samples life, days life, get before were to could we from lot testing samples But they testing. do V&V the immediately. But samples actually came and study, if the they the picture do a old of we immediately. real do lab, U.S. the the in we of in X internal testing real the to and from have some have You to

day the So erode X additional of with I days. every test for second you first or more. maybe on any latest. think event of X the testing beyond waits do course, days, can nobody day, cannot you -- the But it's and on day quality And

results although adequate. slightly you add that provide higher be the if the blood is to fresh So going results, additional should are we some pure have fact want the color. Chris, to

Christopher Lindop

for but the fresher three blood likely And thousands, initial exactly what will in powered you microarray that results us field the the what size hundreds, that of initial statistically to at certainly, sites and and not was just historically saw can the confident then the between results. end we be we'll us Just that do said, look Franz should give in were this microarray relevant measured absolutely initial in results. better Europe give go -- And IH we're for and they that IH the trial that back trended. V&V see V&V

Franz Walt

And an system. it's automated also

worry load and need you like internal that don't manual test people? you because technicians And skills our hours X So for No, as work. away you capable should just until as you then about IH the are walk you it the read results.

that, confident. samples, in it, makes it with end And blood fresh I combination us different So just is with will because a results. loading not person different think

Christopher Lindop

customers this just AABB our showed to was thrilled. and we And fantastic. the at They're data anecdotal response

So...

Operator

Our with next of BTIG. Nam Sung Ji line question comes from the

Sung Ji Nam

revenue some CE receive have we the just recognition mark been the you ones. from the hypercare a quarter. given on the expanded answered, IH questions Congrats Most timing array? of before of sites, of some anticipate couple Could of quick your so my for tenders I

Franz Walt

Oh, you tender. to need in the CE mark officially the

need CE expanded mark, So the IHX mark one mark. IH CE we SDS and the CE

intention base. the are is with to feedback. the also they actually, The to with for So get system trying make the panel. this now the out us the And really latest already hypercare solution, familiar is we have, customer

the So more are this -- very initial now, working sites disease there screening at are right hypercare microarray. moment, serological with the

research feedback in can so the use feedback latest want, of the record. development they we on test all we They incorporate can the stage we cannot yet not test in so get is process. for as one potential the this of a like to late But So it products would only. approved, it's any -- because use for developing

So it's technology. like, customer premarketing. really adopt yes, kind it's -- the it's like a to teasing It's a of, soft this launch. It's

month valuable adopt the the until would And need for because if conclude that right and would is is we the this wait technology himself to to would through CE this go everything lose mark, we process customer anyhow.

So adoption feedback our But afterwards I CE are trying CE things: to for products. achieve mark X trial, to and get you microarrays, for shorten have official have we think mark. the if to they the are to not even

the to For mark. you end, official have CE have

Sung Ji Nam

just along I questions on And submitted I'm great. the... thinking microarray -- But the Okay, CE if there, this. you potential us as mark. the that -- you moving happen you're guys think like expected. update Did sounds do initial you're that's for sure then some getting, for for It before has can of what timing SDS not is been everything missed

Franz Walt

What -- side anymore, than said regulatory answered because the were with that. that question administrative-type and it the natures the to operating to we for The a -- X at the do Yes. and safe we've operations. fast, always much of other And initial on got questions testing we of be IH things processes looks like reasons for last more the we now got we be in response. to with which questions that up it's nothing on in phase different the to changing are But said there, faster always couple in months, Europe.

Christopher Lindop

at And CE XX. IHX on facility to the of and submitted mark, of months. included X June, XX our device manufacturing fact complicated points right there's that. first which took We a more couple end the June And

X. And to we're say, hearing, X -- the as we based questions from we're range that in that... hopeful we're we're on So

Franz Walt

reveal we, think authorities will be course, smart a I may the would give us this. not be -- have lesson. not if it but smart an But anticipation, to teach of it Otherwise, we

their answer doing. it's everything But they as and need they're to here and They is know we to time, help understand their -- products the planned. questions. what are progressing think I

Operator

Ladies question-and-answer I'll and concludes Mr. turn that gentlemen, back our session. for Walt comments. final the any floor to

Franz Walt

Yes. much. very Thank you

everybody, thank on this call you, So joining for us today.

in have progress, a and on and to make later to continues then commercial heard Quotient Europe initial its launch we in So forward year look MosaiQ, U.S. the as year considerable you next

much. very you thank So

Operator

today's This you. teleconference. Thank concludes

time. You may you at disconnect your lines your this for Thank participation.

Quotient (QTNTQ) 4 Nov 192020 Q2 Earnings call transcript