Quanterix (QTRX) Goldman Sachs 45th Annual Global Healthcare Conference summary

Key industry developments and market trends

• Recent Adcom support for Donanemab and the shift away from PET testing are seen as positive for blood-based diagnostics, enhancing accessibility and uptake for Alzheimer's therapies.

• Blood-based biomarkers are positioned as the future for both initial screening and ongoing monitoring of Alzheimer's, with early detection highlighted as a major advantage.

• Uptake of Leqembi has been slower than expected, but the introduction of additional therapies is increasing awareness and research interest in the field.

• Neurologists are increasingly favoring blood-based tests over CSF and PET due to accessibility, cost, and patient preference.

• Early detection and continuous monitoring are expected to become standard care as more therapies enter the market.

Business performance and strategic initiatives

• RUO business posted 13% top-line growth in Q1, outperforming peers in a challenging environment, with strong demand shifting from instruments to services.

• Gross margins improved by 800 basis points sequentially, reflecting benefits from a recent transformation and cost restructuring.

• Five new assays were released in Q1, with a target of 20 new assays for the year, supporting a focus on innovation.

• Accelerator Lab, the CLIA-certified lab, has become a key growth driver, with over 50% growth and 80% of volume from repeat customers.

• Strategic partnerships with major health systems are in early stages, with more expected throughout the year.

Technology and competitive positioning

• Simoa platform offers ultrasensitive detection, with p-Tau 217 tests showing over 90% sensitivity and specificity, and a robust clinical data foundation.

• Multi-marker testing is seen as the next differentiator, enabling differential diagnosis and improved economics through single collection costs and higher reimbursement potential.

• The company is well-positioned to pivot to new biomarkers due to its extensive RUO work and close pharma collaborations.

• Additional focus areas include Parkinson’s, frontotemporal dementia, traumatic brain injury, and expansion into immunology.