Press Release

SAN DIEGO, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, announced groundbreaking new products and capabilities at the Advances of Genome Biology and Technology (AGBT) conference in Orlando, Florida.

Singular unveiled the G4X™ Spatial Sequencer as a high-throughput in situ spatial sequencing platform capable of simultaneous direct RNA sequencing, targeted transcriptomics, proteomics and fluorescent H&E from formalin-fixed, paraffin-embedded (FFPE) tissues. As an upgrade to the G4^® Sequencing Platform, the G4X is expected to position Singular to be the only company worldwide to offer capabilities for tissue-based in situ spatial multiomics and NGS on the same instrument. The G4X Spatial Sequencer is on display at the conference, alongside performance data from technology access collaborations with top academic centers. The G4X is expected to be available as an upgrade to G4 customers by the end of 2024.

Singular also announced updates to the G4, the industry-leading benchtop sequencing system for speed, flexibility, and power.

• Development of a higher-throughput F4 Flow Cell, estimated to produce 600 million-800 million paired reads per flow cell, potentially doubling the G4 sequencer run output to 3.2 billion reads. The F4 flow cell is expected to be released in the second half of 2024.
• Increased sequencing quality with G4s runs now averaging above 90% bases ≥ Q30; raised specifications to 85% bases ≥ Q30.
• Showcased Singular Connect™, a web-based application for remote real-time monitoring of runs, results viewing, and instrument and team management.
  

Additionally, the company announced new programs and promotions for its product portfolio.

• Price reduction for the G4 Sequencing Platform from $350,000 to $295,000.
• G4X Early Adopter Promotional Package that includes the G4, G4X Services, and G4X Upgrade, Training and Warranty.
• Research grant programs for both the G4 and G4X.
• Spatial Technology Access Services on the G4X Spatial Sequencer.

“Today marks the beginning of an exciting new chapter for the company, as we drive to bring ultra-high-throughput spatial biology onto our existing sequencing platform,” stated Drew Spaventa, Chief Executive Officer of Singular. “We are also excited to announce material updates to our sequencing portfolio in the form of higher throughput kits, improved accuracy, and a new remote user interface. In 2024, we look forward to shifting our focus to include clinical sequencing markets, and simultaneously to entering a new high-growth spatial biology market with the G4X.”

About Singular Genomics Systems, Inc.

Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics technologies. The commercially available G4^® Sequencing Platform is a powerful, highly versatile benchtop genomic sequencer designed to produce fast and accurate results. In addition, the company is currently developing the G4X™ Spatial Sequencer, an upgrade to the G4, which will leverage Singular’s proprietary sequencing technology, applying it as an in situ readout for transcriptomics, proteomics and fluorescent H&E in tissue, with spatial context. Singular Genomics’ mission is to empower researchers and clinicians to advance science and medicine. Visit www.singulargenomics.com for more information.

Forward Looking Statements

Certain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding: (i) our timeline and successful development of the G4X and F4 Flow Cell; (ii) expected features, capabilities and specifications of the G4X and the ability to deliver associated services and grants; (iii) our ability to successfully manufacture, commercialize and support the G4, G4X and our flow cell kits, including the F4 Flow Cell, in accordance with our timelines, objectives and specifications; and (iv) quotes of management. Any such forward-looking statements are based on our management’s current expectations and are subject to risks and uncertainties that could cause our actual future results to differ materially from our management’s current expectations or those implied by our forward-looking statements. These risks and uncertainties include, but are not limited to, the following: (i) we are currently developing the G4X Spatial Sequencer and the F4 Flow Cell and may not be successful in completing their development on our projected timeline, with the features and capabilities we expect, or at the cost we anticipate; (ii) we have very little history manufacturing and commercializing our products or technology; (iii) the life sciences technology market is highly competitive, and if we fail to compete effectively, our business and operating results will suffer; (iv) if we are sued for infringing, misappropriating or otherwise violating intellectual property rights of third parties, such litigation could be costly and time consuming and could prevent or delay us from developing or commercializing our products; (v) if our products fail to achieve early customer and scientific acceptance, we may not be able to achieve broader market acceptance for our products, and our revenues and prospects may be harmed; (vi) we expect to be highly dependent upon revenue generated from the sale of the G4 and future products, and any delay or failure by us to successfully manufacture and commercialize the G4 and future products could have a substantial adverse effect on our business and results of operations; and (vii) recent macroeconomic challenges such as inflation and rising interest rates may materially and adversely impact our business, operations, product manufacturing and commercialization objectives. These and other risk factors that may affect our future results of operations are identified and described in more detail in our most recent filings on Forms 10-K and 10-Q and in other filings that we make with the SEC from time to time, including our Quarterly Report on Form 10-Q for the period ended September 30, 2023, filed with the SEC on November 14, 2023. Accordingly, you should not rely on forward-looking statements as predictions of future events or our future performance. Except as required by law, we undertake no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Investor Contact

Matt Clawson
949-370-8500
ir@singulargenomics.com

Media Contact

Dan Budwick, 1AB
973-271-6085
dan@1abmedia.com