UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On January 9, 2023, Telesis Bio Inc. (the “Company”) issued a press release announcing certain unaudited preliminary fourth quarter and full year 2022 financial results (the “Preliminary Financial Information”). A copy of the press release is furnished hereto as Exhibit 99.1.
The Preliminary Financial Information is unaudited and preliminary and does not present all information necessary for an understanding of the Company’s financial condition as of December 31, 2022 and its results of operations for the quarter and year ended December 31, 2022. This Preliminary Financial Information is subject to completion of the Company’s normal quarter and year-end close procedures. These procedures and the audit of the Company’s financial statements for the year ended December 31, 2022 are ongoing and could result in changes to the Preliminary Financial Information.
The information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any filing of Intuitive under the Securities Act of 1933, as amended, or the Exchange Act
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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99.1 |
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104 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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TELESIS BIO INC. |
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Date: |
January 10, 2023 |
By: |
/s/ Todd R. Nelson |
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Todd R. Nelson |
Exhibit 99.1
Telesis Bio Pre-Announces Preliminary Fourth Quarter Financial Results
January 9, 2023
-- Record revenue of $9M in 4QFY22; Increase of 191% over 4QFY21
-- BioXp® Revenue increased by 131% to $3M, in 4QFY22 over 4QFY21
-- Successful achievement of first technical milestone with Pfizer leveraging Telesis Bio’s SOLA platform for enzymatic DNA synthesis technology
SAN DIEGO, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Telesis Bio Inc. (NASDAQ: TBIO), a leader in automated multi-omic and synthetic biology solutions, today pre-announced certain preliminary, unaudited financial results for the fourth quarter ended December 31, 2022. The results are subject to the completion of the Company’s year-end financial reporting processes, reviews, and audit. Telesis Bio also announced that it has achieved the first technical milestone under its 2022 Collaboration and Licensing Agreement with Pfizer to further develop SOLA, Telesis Bio’s novel enzymatic DNA synthesis (EDS) technology for Pfizer’s use in its research and development of mRNA-based vaccines and biotherapies.
“We are grateful to our Telesis Bio team for their tremendous efforts resulting in a stellar 2022 where we exceeded revenue expectations, delivered meaningful expansion of gross margin due to favorable product mix and cost stabilization and importantly, delivered key products for our customers and achieved milestones for our partners,” said Todd R. Nelson, Ph.D., CEO and Founder of Telesis Bio. “We are excited for what is ahead in 2023 and executing on our identified path to achieve positive cash flow by 2H 2024.”
About Telesis Bio
Telesis Bio is empowering scientists with the ability to create novel, synthetic biology-enabled solutions for many of humanity’s greatest challenges. As inventors of the industry-standard Gibson Assembly® method and the first commercial automated benchtop DNA and mRNA synthesis system, Telesis Bio is enabling rapid, accurate and reproducible writing of DNA and mRNA for numerous downstream markets. The award-winning BioXp® system consolidates, automates, and optimizes the entire synthesis, cloning and amplification workflow. As a result, it delivers virtually error-free synthesis of DNA and RNA at scale within days and hours instead of weeks or months. Scientists around the world are using the technology in their own laboratories to accelerate the design-build-test paradigm for novel, high-value products for precision medicine, biologics drug discovery, vaccine and therapeutic development, genome editing, and cell and gene therapy. Telesis Bio is a public company based in San Diego. For more information, visit www.telesisbio.com.
Telesis Bio, the Telesis Bio logo, Gibson Assembly, and BioXp are trademarks of Telesis Bio Inc.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include statements and guidance regarding Telesis Bio’s future financial performance as well as statements regarding the future release and success of new and existing products and services. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled Risk Factors and elsewhere in our Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission on November 11, 2022. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Telesis Bio disclaims any obligation to update these forward-looking statements.
Contact:
Jen Carroll
Vice President of Investor Relations
jen.carroll@telesisbio.com