On November 1, 2018 Quanterix Corporation (NASDAQ:QTRX), a company digitizing biomarker analysis to advance the science of precision health, reported financial results for the three months and nine months ended September 30, 2018 (Press release, Quanterix, NOV 1, 2018, View Source [SID1234530628]).

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"This third quarter has been an incredibly productive one for our company, as we continue to achieve strong momentum and hit important milestones, including gaining back unrestricted rights to our Simoa technology for the in vitro diagnostics (IVD) markets," said Kevin Hrusovsky, Chief Executive Officer, President and Chairman. "Our Simoa technology is at the bleeding edge of the biomarker revolution, which has gained considerable traction recently as biomarkers are increasingly being recognized for their abilities to transform treatment options by accelerating development of more effective and safer drugs for all disease categories, and then longer-term, enabling and empowering individuals to take control of their lives and prevent disease."

Third Quarter 2018 Financial Highlights

Key financial results for the third quarter are shown below:

· Q3 revenue of $10.6M versus prior year Q3 of $5.7M, an increase of 85%.

· Q3 product revenue was $6.0M versus prior year Q3 of $3.3M, an increase of 82%.

· Q3 Service and Other revenue totaled $3.0M versus prior year Q3 of $2.2M, an increase of 36%.

Q3 2018 revenue includes a one-time item of $1.3M related to termination of a licensing agreement with bioMérieux for the Simoa technology. Revenue growth would have been 61% excluding this item.

YTD 2018 Financial Highlights

Key financial results for 2018 YTD are shown below:

· YTD revenue of $26.8M versus prior year $16.3M, an increase of 64%.

· YTD product revenue of $15.9M versus prior year $10.1M, an increase of 57%.

·YTD Service and Other revenue of $8.7M versus prior year $5.4M, an increase of 61%.

Excluding the $1.3M one-time item, total YTD revenue growth would have been 56%.

Third Quarter 2018 Business Highlights

· Gained unrestricted rights back for its Simoa technology in IVD markets with the termination of a license agreement with bioMérieux.

· Cadence of publications continued to increase with more than 40 new publications featuring Simoa technology in Q3 alone, bringing the total to approximately 300.

· Major presence at the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) Congress with a record number of posters/presentations mentioning the use of Quanterix’ serum neurofilament light (NfL) assay for a wide range of clinical studies in multiple sclerosis (MS) disease progression and monitoring.

· Led webinar alongside world-renowned researchers on how Simoa technology is enabling advances in drug development through the use of digital biomarkers; presented at MedCity

CONVERGE describing the power of predictive biomarkers for the diagnosis of cancer; delivered presentations at several leading investor conferences and garnered additional analyst coverage; featured in leading publications, including Forbes, Bloomberg and Digital Biotech.

Conference Call

In conjunction with this announcement, Quanterix Corporation will host a conference call on November 1, 2018, at 4:30 p.m. EDT to discuss the Company’s financial results and business outlook. To access this call, dial (833) 686-9351 for domestic callers, or (612) 979-9890 for international callers. Please reference the following conference ID: 2573579.