February 7, 2022

SomaLogic projects $110M in 2022 sales, big bump from last year

BOULDER — SomaLogic Inc. (Nasdaq: SLGC), a Boulder-based biotechnology company that went public last year in a merger with a special purpose acquisition company, expects to earn revenues of $105 million to $110 million in 2022.

That’s a major increase from the $79 million in sales it expects to record for the full 2021 fiscal year.

That 2021 sales figure itself represents a boost compared with Somalogic’s previous 2021 revenue guidance of $66.7 million in sales. 

“We are excited about the strong revenue growth we have recognized over the past few years and our outlook for 2022,” SomaLogic CEO Roy Smythe said in a statement accompanying the company’s revenue guidance disclosure made last week to the U.S. Securities and Exchange Commission. “We are growing the size of our commercial team substantially and diversifying our unique offerings for our customers and collaborators. These successful efforts, along with the rapidly increasing demand for proteomics solutions and services means the future is incredibly bright for SomaLogic.”

SomaLogic develops platforms to read thousands of proteins in a patient’s blood or urine sample that may signal illnesses or future health conditions and suggest potential treatments via machine learning.

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