Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Quanterix Corporation and its officers or directors [1] Group 1: Company Financial Issues - On November 12, 2024, Quanterix disclosed an error in the capitalization of labor and overhead costs affecting inventory valuation, which dates back to at least 2021 [2] - The Audit Committee concluded that previously issued audited financial statements for the years ending December 31, 2023 and 2022, as well as unaudited financial statements for various periods, should no longer be relied upon [2] - Following this announcement, Quanterix's stock price dropped by $2.77 per share, or 18.26%, closing at $12.40 per share on November 13, 2024 [2] Group 2: Legal and Investigative Actions - Pomerantz LLP is known for its expertise in corporate, securities, and antitrust class litigation, having recovered billions in damages for victims of securities fraud and corporate misconduct [3] - Investors of Quanterix are encouraged to contact Pomerantz LLP regarding the investigation [1][4]

NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Quanterix Corporation (NASDAQ:QTRX) and TransMedics Group, Inc. (NASDAQ:TMDX). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided. Quanterix Corporation (NASDAQ:QTRX) On Novem ...

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Quanterix Corporation due to allegations of materially misleading business information issued to the public [1]. Group 1: Investigation Details - The investigation is prompted by a current report filed by Quanterix on November 12, 2024, which stated that the Audit Committee concluded that previously issued audited consolidated financial statements for the years ended December 31, 2023 and 2022, as well as various unaudited financial statements, should no longer be relied upon [3]. - Following this announcement, Quanterix's stock price experienced a significant decline of 18.3% on November 13, 2024 [3]. Group 2: Class Action Information - Shareholders who purchased Quanterix securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees or costs due to a contingency fee arrangement [2]. - Interested parties can join the prospective class action by visiting the provided link or contacting the law firm directly [2]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time and being ranked No. 1 for the number of settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4].

Core Viewpoint - Quanterix Corporation is under investigation for potential violations of securities laws, prompting affected investors to reach out to the Schall Law Firm for assistance [1] Group 1 - The investigation into Quanterix Corporation suggests possible legal issues that could impact the company's reputation and financial standing [1] - Affected investors are encouraged to contact legal representation, indicating a significant concern regarding the company's compliance with securities regulations [1]

Core Viewpoint - The Schall Law Firm is inviting shareholders who have incurred losses to participate in an inquiry regarding potential securities fraud involving Quanterix Corporation [1] Group 1 - The inquiry is focused on allegations of securities fraud against Quanterix Corporation [1] - Shareholders who have experienced losses are encouraged to join the investigation [1] - The law firm aims to determine whether Quanterix Corporation engaged in any fraudulent activities that may have affected its stock performance [1]

Core Viewpoint - Pomerantz Law Firm is investigating claims on behalf of investors of Quanterix Corporation, focusing on potential securities law violations related to the company's performance and disclosures [1] Group 1: Company Overview - Quanterix Corporation is a company involved in the development of innovative diagnostic tools for the healthcare industry, particularly in the field of precision medicine [1] - The investigation by Pomerantz Law Firm suggests that there may be significant concerns regarding the accuracy of the company's financial reporting and operational performance [1] Group 2: Legal and Regulatory Context - The investigation is part of a broader trend where law firms are scrutinizing companies for potential misrepresentations that could affect stock prices and investor decisions [1] - Investors are encouraged to stay informed about the developments in this investigation, as it may impact the company's stock performance and overall market perception [1]

Core Viewpoint - Quanterix Corporation is under investigation for potential violations of securities laws, prompting affected investors to reach out to the Schall Law Firm for assistance [1] Group 1 - The investigation into Quanterix Corporation suggests serious concerns regarding its compliance with securities regulations [1] - Investors impacted by the situation are encouraged to contact legal representation to explore their options [1]

Financial Performance - Total revenues for the three months ended September 30, 2024, were $35,813,000, an increase of 13.5% compared to $31,559,000 for the same period in 2023[22]. - Product revenue for the nine months ended September 30, 2024, was $59,251,000, up from $58,849,000 in the prior year, reflecting a growth of 0.7%[22]. - Gross profit for the three months ended September 30, 2024, was $20,153,000, compared to $19,409,000 for the same period in 2023, indicating a gross margin improvement[22]. - Net loss for the three months ended September 30, 2024, was $8,353,000, compared to a net loss of $6,716,000 for the same period in 2023, representing a 24.4% increase in losses[22]. - Total revenues increased by $11.4 million, or 13%, to $102.3 million for the nine months ended September 30, 2024, compared to $90.8 million for the same period in 2023[68]. - The net loss for the nine months ended September 30, 2024, was $26.9 million, compared to a net loss of $19.5 million for the same period in 2023, representing a 38% increase in loss[67]. Cash and Assets - Cash and cash equivalents decreased to $29,339,000 as of September 30, 2024, from $174,422,000 as of December 31, 2023[18]. - Total assets decreased to $411,026,000 as of September 30, 2024, down from $428,567,000 as of December 31, 2023[18]. - Cash and cash equivalents at the end of the period on September 30, 2024, is $31,948,000, down from $203,863,000 at the end of September 30, 2023[38]. - Total stockholders' equity as of September 30, 2024, is $338,882,000, down from $349,958,000 as of December 31, 2023[28]. - Total financial assets amounted to $277.2 million, with cash equivalents at $13.0 million and marketable securities at $264.2 million[143]. Expenses - Research and development expenses for the nine months ended September 30, 2024, were $23,015,000, compared to $18,854,000 for the same period in 2023, reflecting a 22.9% increase[22]. - Selling, general and administrative expenses increased by $7.4 million, or 11%, to $73.0 million for the nine months ended September 30, 2024, compared to $65.6 million for the same period in 2023[86]. - Stock-based compensation expense for the nine months ended September 30, 2024, is $15,150,000, an increase from $12,497,000 for the same period in 2023[38]. - Total stock-based compensation expense for the three months ended September 30, 2024, was $4.657 million, compared to $4.344 million for the same period in 2023, representing an increase of 7.2%[168]. Revenue Sources - Service revenue rose to $39.3 million, an increase of $9.5 million, or 32%, primarily driven by higher volumes in Accelerator Laboratory services[70]. - Collaboration and license revenue increased by $1.5 million, or 123%, to $2.8 million, mainly due to LDT-related license revenue[72]. - Revenue recognized from the UltraDx Agreement was $1.1 million for the nine months ended September 30, 2024, down from $1.4 million for the same period in 2023[107]. - Revenue from the Lilly Collaboration Agreement was $1.5 million for the three months ended September 30, 2024, compared to $4.5 million for the same period in 2023[110]. Inventory and Marketable Securities - Total inventory as of September 30, 2024, was $32.97 million, up from $26.12 million as of December 31, 2023[162]. - Purchases of marketable securities for the nine months ended September 30, 2024, totaled $270,972,000, compared to $125,200,000 for the same period in 2023[38]. - The company did not sell any marketable securities or record any realized gains or losses for the nine months ended September 30, 2024[141]. Operational Insights - The company launched Lucent Diagnostics clinical testing services in July 2023, expanding its offerings in biomarker testing[58]. - Quanterix's Simoa technology enables the detection of protein biomarkers in femtomolar concentrations, facilitating advancements in diagnostics and therapeutics[57]. - The company expects continued growth in Accelerator Laboratory services throughout 2024[70]. - The company anticipates ongoing increases in research and development expenses due to investments in new instrument and assay development[85]. - The company expects softness in instrument sales to continue throughout 2024 due to a constrained capital funding environment[69]. Compliance and Internal Controls - As of September 30, 2024, the company's disclosure controls and procedures were deemed not effective at a reasonable assurance level due to ongoing remediation efforts for material weaknesses in internal control over financial reporting[198]. - The company has engaged accounting advisory consultants to implement new software solutions for automating key manual inventory valuation processes, which began in Q2 2024[207]. - Remediation of the Property and Equipment material weakness is expected to continue through fiscal year 2024, while remediation of the Inventory Valuation material weakness is anticipated to extend into fiscal year 2025[210]. - The company has hired a Head of SOX Transformation to oversee the remediation of material weaknesses and improve internal controls[209]. Miscellaneous - The company is not currently a party to any pending or threatened litigation that would materially affect its financial condition or results of operations[202]. - The company announced an agreement to acquire Emission and is regularly assessing other potential acquisitions[124].

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Quanterix Corporation due to allegations of materially misleading business information issued by the company [1]. Group 1: Legal Action and Investor Rights - Shareholders who purchased Quanterix securities may be entitled to compensation through a contingency fee arrangement, with a class action being prepared to seek recovery of investor losses [2]. - Investors are encouraged to join the prospective class action by contacting Rosen Law Firm for more information [2]. Group 2: Financial Reporting Issues - On November 12, 2024, Quanterix filed a current report with the SEC, stating that its previously issued audited consolidated financial statements for the years ended December 31, 2023, and 2022, as well as various unaudited financial statements for multiple periods, should no longer be relied upon [3]. - Following this announcement, Quanterix's stock price dropped by $2.77 per share, or 18.3%, closing at $12.40 per share on November 13, 2024 [3]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements in this area [4]. - The firm has secured significant settlements for investors, including over $438 million in 2019, and has been consistently ranked among the top firms for securities class action settlements [4].

SAN FRANCISCO, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Girard Sharp, LLP, a national investment, securities, and consumer class action firm, is investigating potential securities claims on behalf of Qaunterix Corporation (NASDAQ: QTRX) investors.  If you are an Quanterix Corporation investor with losses, please fill out our contact form, email apolk@girardsharp.com, or call (415) 544-6280 for a free consultation.  On November 12, 2024, Quanterix announced that it had discovered” an error in the capitalization of ...