Beamr video compression achieves up to 50% improvement for AVs
BILLERICA, Mass. - Quanterix Corporation (NASDAQ:QTRX), a biotech company with a strong financial position maintaining a healthy current ratio of 6.68 and more cash than debt on its balance sheet, announced Thursday that its Accelerator Laboratory has received a clinical laboratory permit in the Clinical Chemistry category from the New York State Department of Health (NYSDOH).
The permit expands the company’s biomarker research capabilities and allows it to perform clinical testing in New York, one of the nation’s largest healthcare markets with stringent regulatory requirements. The approval makes the lab fully CLIA-certified across all 50 states.
"Securing this permit reaffirms our commitment to quality and compliance and enables us to extend our expertise to a broader network of clinical and research partners," said Masoud Toloue, Chief Executive Officer of Quanterix. The company’s stock has shown recent momentum with an 8.15% return over the past week, though it remains significantly below its 52-week high of $15.86. InvestingPro analysis reveals several additional key performance indicators for investors tracking this development.
The Accelerator Laboratory specializes in protein biomarker detection using the company’s Simoa technology. With annual revenue of $125.78 million, though currently operating at a net loss, the lab has developed over 100 custom assays and supported more than 264 global clinical trials across neurology, immunology/oncology, and infectious diseases. For detailed financial analysis and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
The permit approval also includes authorization for the lab’s Simoa NfL Laboratory Developed Test (LDT). The company plans to seek approvals for additional clinical tests.
Quanterix also announced that its Lucent Diagnostics brand, operating under the Accelerator Laboratory, will provide serum and plasma biomarker testing to clinical and research customers.
The company, which acquired Akoya Biosciences earlier this year, focuses on biomarker detection for disease research, diagnostics, and drug development. According to InvestingPro’s Fair Value analysis, the stock currently appears undervalued, presenting a potential opportunity for investors interested in the biotech sector.
This article is based on a press release statement from Quanterix Corporation.
In other recent news, Quanterix Corporation reported its second-quarter 2025 earnings, which did not meet expectations. The company posted an earnings per share (EPS) of -$0.77, significantly missing the anticipated -$0.43. Additionally, Quanterix’s revenue came in at $24.5 million, falling short of the projected $28.23 million. These results have raised concerns among investors and analysts alike. Canaccord Genuity responded to these developments by downgrading Quanterix’s stock from Buy to Hold. The firm also lowered its price target for the company from $12.00 to $5.00, citing a weak outlook and lack of near-term visibility and catalysts. Quanterix is facing challenges in the biopharma sector, coupled with ongoing uncertainty regarding funding from the National Institutes of Health. These factors have contributed to the cautious stance taken by analysts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.