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Quanterix Restructuring Efforts on Track, CEO Says at JP Morgan Conference

SAN FRANCISCO – Quanterix is about one-third into its restructuring efforts and going as planned, Quanterix President and CEO Masoud Toloue said on Thursday at the 41st Annual JP Morgan Healthcare conference here.

During his presentation, which was webcast, Toloue said that the ongoing restructuring program, which it announced last summer as it laid off around 130 employees and refocused its commercial efforts, is meant to help Quanterix scale its operations and assays to better meet both current and anticipated demand for higher-throughput testing in areas like clinical trials and diagnostics. He added that the company was now two quarters into what it projected would be a six-quarter process and that "our expectations are on track." 

To date, Quanterix has placed roughly 875 instruments featuring its Simoa high-sensitivity immunoassay technology. The firm generates roughly 80 percent of its revenues through instrument and reagent sales and around 20 percent from services, Toloue said. 

The company remains most active in neurology, with around 70 percent of its installed base being used for neurology research. Toloue highlighted the launch this month of its laboratory-developed test for measuring neurofilament light chain (NfL), a biomarker of neuronal damage. He also noted the launch last year of an LDT for measuring phosphorylated tau-181 (ptau-181), a biomarker for Alzheimer's disease that was used by pharmaceutical firm Eisai in clinical studies for its drug, Leqembi (lecanemab), for the disease, and which received US Food and Drug Administration approval last week. Quanterix had received FDA breakthrough designation for its NfL and ptau-181 tests, Toloue said.