Talis Biomedical Corp

talisbio.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 19, 2024. Its latest SEC filing is a SC 13D/A from Oct 10, 2024.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Developed a point-of-care molecular diagnostic system combining an instrument, single-use test cartridges and cloud software for healthcare providers.

How Did They Make Money?

NIH grants funded diagnostic research, and RADx contract payments depended on milestones for test validation and manufacturing scale-up.

FY2023 revenue

Who Were Their Customers?

Healthcare providers in clinics, hospitals and other decentralized care settings were target users; Talis also sold and distributed antigen tests as an authorized distributor.

Did Revenues Turn Into Profits?

No. It lost $62M in FY2023.

Operating income, FY2023

−3131% of revenue

▼ −42% (Loss) vs FY2022 (−$115.1M, −2393%)

Net income, FY2023

−2906% of revenue

▼ −45% (Loss) vs FY2022 (−$113M, −2349%)

Free cash flow, FY2023

−2518% of revenue

▼ −47% (Loss) vs FY2022 (−$101.8M, −2115%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q2 FY2024, the three months to Jun 30, 2024

Revenue: ▼ −100%; vs $581K in Q2 FY2023
Net income: ▼ −41% (Loss); vs −$15M in Q2 FY2023

Sep 3, 2024 Plans Chapter 11 filing as part of securities-case settlement The term sheet calls for a voluntary petition to implement the settlement and a company contribution to the settlement fund.
Aug 23, 2024 Nasdaq moved to delist the company’s shares The company said it would not appeal; trading suspension was scheduled for September 3, 2024.

Who Did They Compete With?

Competes with Laboratory Corporation of America Holdings, Quest Diagnostics, Abbott, bioMérieux, Cepheid, Thermo Fischer Scientific, Roche Molecular Systems, and QuidelOrtho

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