SomaLogic, Inc.
somalogic.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 8, 2023. Its latest SEC filing is a SCHEDULE 13G/A from Jan 10, 2025.
10-Q for Q3 FY2023, filed Nov 8, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Runs protein-analysis services and sells assay kits and diagnostic tests to pharmaceutical and biotechnology companies, academic and government research institutions, and health systems.
10-K for FY2022, filed Mar 28, 2023SomaLogic is a leading commercial-stage proteomics company. We have built an integrated proteomics platform that we believe is capable of…View ↗
Our business model is currently focused on customers conducting life sciences research or biopharmaceutical development. Our assay services…View ↗
Our services and products delivered into the clinical market are focused on providing data-driven diagnostic tests aimed at enabling high…View ↗
We have an established revenue stream from the life sciences research market, which as of December 31, 2022, consists primarily of a…View ↗
SomaScan® Certified Sites. The SomaScan Certified Sites program allows global pharmaceutical and biotech companies, academic and core labs…View ↗
SomaSignal™ Tests. As of December 31, 2022, we had 19 SomaSignal™ tests currently available for use as LDT under our CLIA certification…View ↗
How Did They Make Money?
SomaLogic mainly earns revenue by analyzing customer samples and returning protein data; it also sells assay kits and equipment and earns collaboration and royalty revenue. Payment terms vary by customer and are generally less than one year.
10-K for FY2022, filed Mar 28, 2023As of December 31, 2022, our current SomaScan® assay includes reagents to measure approximately 7,000 protein targets of the approximately…View ↗
Year Ended December 31, (in thousands) 2022 2021 Assay services revenue $ 63,038 $ 68,038 Product revenue 4,243 1,277 Collaboration revenue…View ↗
Payment terms may vary by customer, are based on customary commercial terms, and are generally less than one year. The Company does not…View ↗
$97.7M
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10-K for FY2022, filed Mar 29, 2023
$97.7M ↗
Who Were Their Customers?
Pharmaceutical, biotech, academic and government research customers send samples to SomaLogic for analysis; certified-site labs run its assay in-house using kits. Clinical tests target health systems and healthcare providers.
10-K for FY2022, filed Mar 28, 2023Our business model is currently focused on customers conducting life sciences research or biopharmaceutical development. Our assay services…View ↗
Our services and products delivered into the clinical market are focused on providing data-driven diagnostic tests aimed at enabling high…View ↗
We have an established revenue stream from the life sciences research market, which as of December 31, 2022, consists primarily of a…View ↗
SomaScan® Certified Sites. The SomaScan Certified Sites program allows global pharmaceutical and biotech companies, academic and core labs…View ↗
Did Revenues Turn Into Profits?
No. It lost $109.2M in FY2022.
10-K for FY2022, filed Mar 29, 2023
−$175.8MView ↗
10-K for FY2022, filed Mar 29, 2023
−$109.2MView ↗
10-K for FY2022, filed Mar 29, 2023
−$105.9MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 9, 2023
−$22.2MView ↗
- ▼ −33% (Loss)
- vs −$32.9M in Q3 FY2022
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Jan 5, 2024
SomaLogic merged with Standard BioTools
SomaLogic became a wholly owned subsidiary of Standard BioTools; its common shares were exchanged for Standard BioTools shares, with cash for fractional shares.
Sources
8-K, filed Jan 5, 2024
As previously announced, SomaLogic, Inc., a Delaware corporation (“SomaLogic”), entered into an Agreement and Plan of Merger on October 4…View ↗
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Dec 12, 2023
Interim CFO Eliot Lurier died; no replacement had been appointed
Other members of management were expected to fulfill his duties.
Sources
8-K, filed Dec 12, 2023
SomaLogic, Inc. (the “Company”) is saddened to report that Eliot M. Lurier, the Company’s Interim Chief Financial Officer, passed away…View ↗
Who Did They Compete With?
Competes with Nautilus, Olink, Quanterix, Quantum-Si, and Seer
10-K for FY2022, filed Mar 28, 2023The life sciences market is highly competitive and dynamic. Other companies, both established and early-stage, have indicated they are…View ↗
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