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Talis Biomedical
Talis Biomedical (TLIS) investor relations material
Talis Biomedical has been otc
Talis Biomedical Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary18 Aug, 2024
Executive summary
Ceased all research and development and revenue-generating activities as of June 30, 2024, after failing to identify viable strategic alternatives; company expects to file for Chapter 11 bankruptcy and liquidate assets.
Implemented a 90% workforce reduction in November 2023 and consolidated operations to Chicago, IL.
Board established a Special Restructuring Committee to oversee bankruptcy and asset liquidation.
Financial highlights
Net loss of $8.8 million for Q2 2024, compared to $15.0 million in Q2 2023; net loss of $21.9 million for the six months ended June 30, 2024, down from $32.9 million year-over-year.
Total revenue for Q2 2024 was $0.05 million, down from $0.58 million in Q2 2023; six-month revenue was $0.07 million, down from $1.8 million year-over-year.
Research and development expenses fell to $1.6 million in Q2 2024 from $10.6 million in Q2 2023; selling, general and administrative expenses rose to $8.0 million from $6.4 million.
Cash and cash equivalents were $59.9 million as of June 30, 2024.
Outlook and guidance
Unrestricted cash and cash equivalents expected to fund operations for at least 12 months from the financial statement issuance date.
No plans to commercialize the Talis One system; all R&D and revenue activities suspended.
Anticipates commencing voluntary Chapter 11 proceedings to resolve claims and liquidate assets.
Status of Talis One system sale efforts?
How will Chapter 11 impact securities litigation?
What is the rationale for the ERP given liquidation?
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Talis Biomedical
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Frequently asked questions
Talis Biomedical Corp is a molecular diagnostic company focused on health and patient outcomes through the development and delivery of accurate infectious disease testing at the point of care. The company's efforts are concentrated on diagnosing infectious diseases rapidly, accurately, and directly at the point-of-care. Their product development includes the Talis One system, designed to overcome the limitations of existing point-of-care diagnostic testing technologies, with applications in respiratory infections, women's health infections, sexually transmitted infections, and more. The company is headquartered in Redwood City, California and its shares are listed on the Nasdaq.
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