Telesis Bio Pre-Announces Preliminary Fourth Quarter Financial Results
January 09 2023 - 9:00AM
Telesis Bio Inc. (NASDAQ: TBIO), a leader in automated multi-omic
and synthetic biology solutions, today pre-announced certain
preliminary, unaudited financial results for the fourth quarter
ended December 31, 2022. The results are subject to the completion
of the Company’s year-end financial reporting processes, reviews,
and audit. Telesis Bio also announced that it has achieved the
first technical milestone under its 2022 Collaboration and
Licensing Agreement with Pfizer to further develop SOLA, Telesis
Bio’s novel enzymatic DNA synthesis (EDS) technology for Pfizer’s
use in its research and development of mRNA-based vaccines and
biotherapies.
- Revenue: The Company expects to report revenue for the fourth
quarter of 2022 of $9 million compared to $3 million for the for
the same period in 2021 representing growth of more than 190% for
the same period.
- BioXp® Revenue: The Company expects to report BioXp® revenue,
which consists of instruments and kits, for the fourth quarter of
2022 of $3 million compared to $1.3 million for the same period in
2021 representing more than 130% growth for the period.
- Gross Margin: The Company expects to report that gross margin
will exceed 60% for the fourth quarter of 2022.
- Operating Expenses: The Company expects to report that total
operating expenses for the fourth quarter of 2022 were between $14
million and $15 million compared to $13 million for the same period
of 2021.
- Cash Position: As of December 31, 2022, the Company had $41
million in cash and cash equivalents.
“We are grateful to our Telesis Bio team for their tremendous
efforts resulting in a stellar 2022 where we exceeded revenue
expectations, delivered meaningful expansion of gross margin due to
favorable product mix and cost stabilization and importantly,
delivered key products for our customers and achieved milestones
for our partners,” said Todd R. Nelson, Ph.D., CEO and Founder of
Telesis Bio. “We are excited for what is ahead in 2023 and
executing on our identified path to achieve positive cash flow by
2H 2024.”
About Telesis BioTelesis Bio is empowering
scientists with the ability to create novel, synthetic
biology-enabled solutions for many of humanity’s greatest
challenges. As inventors of the industry-standard Gibson Assembly®
method and the first commercial automated benchtop DNA and mRNA
synthesis system, Telesis Bio is enabling rapid, accurate and
reproducible writing of DNA and mRNA for numerous downstream
markets. The award-winning BioXp® system consolidates, automates,
and optimizes the entire synthesis, cloning and amplification
workflow. As a result, it delivers virtually error-free synthesis
of DNA and RNA at scale within days and hours instead of weeks or
months. Scientists around the world are using the technology in
their own laboratories to accelerate the design-build-test paradigm
for novel, high-value products for precision medicine, biologics
drug discovery, vaccine and therapeutic development, genome
editing, and cell and gene therapy. Telesis Bio is a public company
based in San Diego. For more information, visit
www.telesisbio.com.
Telesis Bio, the Telesis Bio logo, Gibson Assembly, and BioXp
are trademarks of Telesis Bio Inc.
Forward-Looking Statements This press release
contains forward-looking statements. All statements other than
statements of historical facts contained herein are forward-looking
statements reflecting the current beliefs and expectations of
management made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These statements
include statements and guidance regarding Telesis Bio’s future
financial performance as well as statements regarding the future
release and success of new and existing products and services. Such
statements are based on current assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially. These risks and uncertainties, many of which are
beyond our control, include risks described in the section entitled
Risk Factors and elsewhere in our Quarterly Report on Form 10-Q,
which was filed with the Securities and Exchange Commission on
November 11, 2022. These forward-looking statements speak only as
of the date hereof and should not be unduly relied upon. Telesis
Bio disclaims any obligation to update these forward-looking
statements.
Contact:Jen CarrollVice President of Investor
Relationsjen.carroll@telesisbio.com
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