BILLERICA, Mass. - Quanterix (NASDAQ:QTRX) Corporation (NASDAQ: QTRX), a pioneer in ultrasensitive biomarker detection, has announced its plans to acquire EMISSION Inc., a Texas-based technology company specializing in bead technology. The $10 million cash transaction is slated for completion in January 2025 and could potentially include an additional $60 million in contingent payments based on the achievement of specific milestones. According to InvestingPro data, Quanterix maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 9.74, suggesting ample liquidity for this strategic move.
The acquisition is aimed at strengthening Quanterix's technological capabilities, specifically in the area of multi-plex and multi-omic assays. EMISSION's proprietary bead technology has been validated for use on Quanterix's forthcoming Simoa platform, which is expected to enhance the company's offerings by enabling the supply of original equipment manufacturer (OEM) beads to other platforms. With a market capitalization of $437.9 million and revenue growth of 15.52% in the last twelve months, Quanterix appears positioned for expansion. InvestingPro analysis suggests the stock is currently trading below its Fair Value, presenting a potential opportunity for investors interested in the biotech sector.
Masoud Toloue, CEO of Quanterix, emphasized the strategic importance of controlling core components to expand the company's technology stack. He expressed enthusiasm about the integration of EMISSION's innovations and team into Quanterix.
EMISSION, headquartered in Georgetown, TX, is recognized for its large-scale production of uniform dye-encapsulating magnetic beads. These beads are integral to low and mid-plex assays, with a mid-plex platform that reads its proprietary beads. This vertical integration will secure the use of EMISSION's beads in Quanterix's next-generation platforms and facilitate the development of a new multi-plex segment targeting third-party OEM customers.
Van Chandler, CEO of EMISSION, shared his company's commitment to making high-quality bead technology accessible and expressed excitement about supporting Quanterix's Simoa platform and vision.
The transaction is anticipated to positively impact Quanterix's revenue and gross margins starting in 2026. Payment terms include an initial $10 million from Quanterix's cash reserves, with an additional $10 million contingent upon the completion of certain technical milestones. EMISSION may also receive up to $50 million based on the achievement of performance milestones, expected to be funded through cash generated from meeting these criteria.
This strategic acquisition underscores Quanterix's commitment to advancing disease understanding and management across various medical fields through its sensitive biomarker detection technology. The information is based on a press release statement. For deeper insights into Quanterix's financial health, growth prospects, and detailed analysis, investors can access comprehensive research reports and additional ProTips through InvestingPro, which covers over 1,400 US equities with in-depth analysis and actionable intelligence.
In other recent news, Quanterix Corporation has reported a 13% year-over-year increase in Q3 2024 revenues, reaching $35.7 million. The growth was primarily driven by a 36% surge in Accelerator lab services and an 8% increase in consumables, despite a 39% decline in instrument revenue. The company has reaffirmed its full-year revenue guidance of $134 million to $138 million. Quanterix is currently restating its financial results for the past three years due to non-cash inventory accounting issues. Despite these issues, TD Cowen sees the situation as manageable and has raised the company's stock target to $16 on the back of solid revenue growth. In line with recent developments, Quanterix has launched 16 new products year-to-date and plans for four more by year-end. The company aims to achieve wider adoption of its Simoa technology in immunology and oncology, with a focus on expanding diagnostic capabilities, particularly for Alzheimer's disease.
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