SomaLogic tops Wall Street sales estimates despite growing loss

BOULDER — SomaLogic Inc. (Nasdaq: SLGC) posted revenues in the first quarter of 2023 that surpassed Wall Street analysts’ expectations, sending the company’s stock upwards on Friday despite a balloon net loss compared to the same period last year. 

The Boulder life-sciences firm 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.

Revenue for the first quarter of this year were $20.4 million, down from $23 million in the same period last year. 

Still, the sales figure topped Zacks Consensus Estimate by more…