BRANFORD, Conn., April 11, 2022 (GLOBE NEWSWIRE) — IsoPlexis Corporation (Nasdaq: ISO) (“IsoPlexis”), the Superhuman Cell Company, today announced unaudited preliminary quarter 2022 revenue. and the transition to an integrated commercial and operational structure, which aims to ensure a sustainable growth trajectory.
Recent Highlights and Milestones:
- Total revenue for the three months ended March 31, 2022 is expected to be between $4.8 and $4.9 million, representing an increase of approximately 48% to 52% from $3.2 million dollars for the period of the previous year.
- Since its commercial launch in 2018, Isoplexis has placed a total of 234 instruments, including 25 instruments sold in the first quarter of 2022.
- IsoPlexis offers proven in situ DNA sequencing capability, leveraging its own DNA sequencer and an extensive set of intellectual properties and sequencing products. This marks a key milestone for bringing to market as a service the first new single-cell “working” multi-omics platform, Duomic™.
- Clinician researchers have published preliminary studies in JCI Overview on IsoPlexis’ next-generation bulk targeted proteomics platform, CodePlex™, which addresses a significant unmet need in larger-scale clinical research for an automated “Sample in-Answer Out” benchtop proteomics solution .
Integrated commercial and operational structure to support sustainable growth:
IsoPlexis today announced a new strategic initiative to more closely integrate its sales team with its customers, and its development teams with its operations teams. The initiative includes the following:
- As IsoPlexis continues to “land and grow” with key customers globally, it will provide a single, streamlined point of contact with regional customers for the full product line of IsoPlexis’ broader test menu. This aims to reduce the total number of support staff needed, while simultaneously strengthening relationships with its customers and increasing the productivity of its sales team of approximately 140 people. Local teams will be more closely integrated with the client and with each other, with the goal of producing scalable and productive growth.
- As IsoPlexis prepares to launch its Duomic™ services as well as its CodePlex™ bulk targeted proteomics platform, it will further integrate operations and development to ensure the timely launch of a scalable set of quality consumables. . IsoPlexis has reduced its selective operational staff to better meet business needs over the next two years. At the same time, its more integrated development and operations team of 200 strengthens its ability to deliver quality to IsoPlexis customers as the company continues to grow. While IsoPlexis continues to bring a broader test menu of consumables to market, its focus on integration is aimed at streamlining design for manufacturing, which the company says will lead to improved gross margin across all consumable product lines.
In addition, IsoPlexis amended its existing credit agreement, providing access to $15 million in additional term loan financing. IsoPlexis believes that the amended credit agreement, coupled with these new strategic initiatives, will extend its cash trail through the second half of 2024. This enables the company to strengthen engagement with its customers and continue to generate strong revenue growth with a large yet highly integrated and equipped team, while delivering innovative solutions and increasing gross margins.
“Our company has achieved strong revenue growth, being a leader in the field of single-cell proteomics and has also achieved key milestones for innovative multi-omics and proteomics products addressing significant unmet needs for researchers. I would like to express my deepest gratitude to the entire team who have helped build nearly four years of commercial success since our first product was brought to market. We wish our departing colleagues every success as their dedication and efforts have helped defeat the world’s most difficult to treat diseases. We look forward to expanding our ability to serve our growing list of customers with a more integrated sales, operations and development team. We also look forward to bringing to market our two new suites of innovative products that provide deeper insights into the development of more curative therapies,” said Sean Mackay, President and CEO of IsoPlexis. “I am confident that by adapting to this next stage of business growth and the needs of our customers, we will be able to further support the success of our customers who are leading the charge to solve the critical challenges of human health.”
Isoplexis continues to expect full-year 2022 revenue to be between $26 million and $27 million, representing 51% to 56% growth over full-year 2021.
These preliminary results are based on operations management’s initial analysis for the quarter that ended March 31, 2022. The company expects to release full first quarter financial results on May 11, 2022.
Please also find our updated investor presentation on our website (https://investors.isoplexis.com/news-events/presentations).
IsoPlexis is the Superhuman Cell company.
By leading the discovery and identification of how multifunctional—superhuman—immune cells communicate and respond, IsoPlexis helps researchers understand and predict disease progression, treatment resistance, and therapeutic efficacy.
IsoPlexis has been named Top Innovation or Design by The Scientist Magazine, Fierce, BIG Innovation, Red Dot and many others. The IsoPlexis platform is used worldwide by researchers, including those at the world’s 15 largest pharmaceutical companies by revenue and at more than 70% of major US cancer centers.
This press release contains “forward-looking statements”. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based on IsoPlexis’ current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies and other future conditions. These forward-looking statements may include, but are not limited to, statements about future opportunities for IsoPlexis and its products and services, future operations, financial or operating results, including financial guidance, levels of expected activity, future profits, planned activities, expected growth, market opportunities, strategies, competitions and other expectations and objectives for future periods. In some cases, you can identify forward-looking statements because they contain words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “predict”, “project”, “target”, “potential”, “seek”, “will”, “would”, “could”, “continue”, “forward”, “should”, “continue”, ” contemplate”, “plan” and other words and terms of similar meaning. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond its control. IsoPlexis cautions you that forward-looking statements are not guarantees of future performance or results and that actual performance and results may differ materially from those expressed or implied by the forward-looking statements contained in this press release.Furthermore, even if its results of operations, financial condition and its cash flows, as well as market developments in the s which IsoPlexis operates are consistent with the forward-looking statements contained in this press release, such results or developments may not be indicative of results or developments in subsequent periods. New factors arise from time to time which may cause IsoPlexis’ business not to develop as expected, and it is not possible for it to predict all of them.
Factors that could cause actual results and results to differ from those reflected in forward-looking statements include, among others, the following: estimates of IsoPlexis’ potential market, market growth, future revenues, expenses , IsoPlexis’ capital requirements and additional financing requirements; implementing IsoPlexis’ business model and strategic plans for its products and technologies; IsoPlexis’ competitive businesses and technologies and industry; IsoPlexis’s ability to manage and grow its business by increasing its sales to existing customers or introducing its products to new customers; IsoPlexis’ ability to develop and market new products; IsoPlexis’ ability to establish and maintain intellectual property protection for its products or to avoid or defend infringement claims; the performance of third-party providers; IsoPlexis’ ability to hire and retain key personnel and effectively manage its future growth; IsoPlexis’ ability to obtain additional financing in connection with future offerings; the volatility of the trading price of its common stock; IsoPlexis’ expectations regarding the use of proceeds from its initial public offering (“IPO”); the potential effects of government regulation; the impact of COVID-19 on IsoPlexis’ business; and IsoPlexis’ expectations regarding market trends. For a more in-depth discussion of these and other factors that could affect IsoPlexis’ future results, performance or transactions, see the “Risk Factors” section included in its Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 30. , 2022, and its other filings with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. It is not possible for IsoPlexis to predict all risks, nor to assess the impact of all factors on its business or the extent to which any one factor, or combination of factors, could cause actual results differ significantly from those contained in the forecasts. looking at the statements he can make. IsoPlexis qualifies all forward-looking statements contained in this press release by these cautionary statements. Except as required by law, IsoPlexis undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.