Quotient dives after share offering launch, qtrly report

Quotient

24/06/2022 13:08

** Quotient Limited  QTNT.O  shares drop ~21% premarket
after Switzerland-based diagnostics firm announces stock
offering, qtrly results
    ** Late Thurs, co commenced $20 mln share offering,
including pre-funded warrants to certain investors  urn:newsml:reuters.com:*:nGNX68xFSK
    ** Co to use net offering proceeds to fund ongoing
development, commercialization of its MosaiQ blood testing
platform
    ** Jefferies and Cowen acting as jt bookrunners
    ** Early Fri, co posts fiscal Q4 rev of $9.8 mln, above
Street consensus of $8.2 mln, per Refinitiv IBES data
    ** Co says expects FY 2023 rev of $39-$42 mln compared to
$38.5 mln in FY 2022
    ** Shares on Thurs closed down 6.3% at $0.40, and have lost
85% YTD
    ** Co has 102.6 mln shares outstanding and ~77 mln shares of
public float, per Refinitiv 

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))