Quanterix Gears Up for IPO

By Chris Lange Updated Jan 12, 5:45AM EST · Published Dec 5, 11:40AM EST

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Quanterix Gears Up for IPO — © Thinkstock

Quanterix has registered an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering. The company intends to price its 3.34 million shares in the range of $14 to $16 per share, with an overallotment option for an additional 501,000 shares. At the maximum price, the entire offering is valued up to $61.46 million. The company intends to list its shares on the Nasdaq under the symbol QTRX.

The underwriters for the offering are JPMorgan, Leerink Partners, Cowen, BTIG and Evercore ISI.

This life sciences company has developed a next generation, ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics. Its platform enables customers to reliably detect protein biomarkers in extremely low concentrations in blood, serum and other fluids that, in many cases, are undetectable using conventional, analog immunoassay technologies.

These capabilities provide customers with insight into the role of protein biomarkers in human health that has not been possible with other existing technologies and enable researchers to better characterize the continuum between health and disease.

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Quanterix believes this greater insight provided by its platform, in research applications today and in diagnostic and precision health settings in the future, will enable the development of novel therapies and diagnostics and facilitate a paradigm shift in health care from an emphasis on treatment to a focus on earlier detection, monitoring, prognosis and, ultimately, prevention.

The company intends to use the net proceeds from this offering for a few things:

To expand our life sciences commercial operations to grow and support the installed base of our products among life sciences research customers in the United States and internationally.

To improve and update our Simoa technology and instruments and to develop additional assays, including assays for nucleic acid detection.

To support the launch of our new Quanterix SR-X instrument, currently scheduled for launch in 2018.

To potentially move into a larger corporate headquarters in order to have the appropriate infrastructure to support the increase in our employee base in addition to an increase in our manufacturing footprint.

To pursue regulatory approvals or clearances to develop instruments, assay kits and consumables in areas outside of life science research, including potentially LDTs, IVD tests and other markets, and, subject to receipt of such necessary regulatory approvals or clearances, to develop such instruments, assay kits and consumables.

To potentially pursue acquisitions or other business development opportunities.

For working capital and other general corporate purposes.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.