Branford-based biotech firm Quantum-Si Inc. is again at risk of losing its Nasdaq listing after its stock fell below the exchange’s minimum price requirement, the second time in less than two years that the company has received such a warning. Quantum-Si makes desktop instruments that sequence proteins, the molecules responsible for most functions inside living […]
Branford-based biotech firm Quantum-Si Inc. is again at risk of losing its Nasdaq listing after its stock fell below the exchange's minimum price requirement, the second time in less than two years that the company has received such a warning.
Quantum-Si makes desktop instruments that sequence proteins, the molecules responsible for most functions inside living cells. The company aims to commercialize the technology.
Founded by serial scientist-entrepreneur Jonathan Rothberg, Quantum-Si went public in June 2021 by merging with New York-based HighCape Capital Acquisition Corp. in a deal worth $1.46 billion.
Quantum-Si disclosed in a July 24 filing with the U.S. Securities & Exchange Commission that Nasdaq notified the company the previous day that its Class A common stock, which trades under the symbol QSI, had closed below $1 per share for 30 consecutive business days, violating the exchange’s minimum bid price requirement.
Shares were trading around 78 cents Monday morning, down about 29% since the beginning of the year. The stock started 2026 at about $1.25, fell below $1 in February, dropped as low as roughly 70 cents in April, briefly recovered above $1.25 in early June and has declined since.
Quantum-Si has until Jan. 19, 2027, to regain compliance by closing at or above $1 per share for at least 10 consecutive business days.
It is the
second time in less than two years that Quantum-Si has received such a notice. Nasdaq issued the first in November 2024, when the stock had fallen as low as 63 cents per share.
That time, the company resolved the problem in under a month.
On Dec. 4, 2024, Nasdaq
confirmed the matter was closed, as shares were trading around $1.90.
Quantum-Si reported $258,000 in first-quarter revenue, down from $842,000 from in the year-ago period, according to its latest quarterly earnings report.
The company reported a net loss of $21.7 million in the first quarter, compared to a $19.2 million loss in the year-ago period.
In its filing, signed by Chief Financial Officer Jeffry Keyes, Quantum-Si said it would “consider all available options” to regain compliance but cautioned that it may not be successful.
Quantum-Si is among
several Connecticut bioscience companies that have received Nasdaq delisting warnings in recent years.
