Quotient (QTNT) Stock: Why It Surged Over 55% Today

By Amit Chowdhry ● Jun 22, 2022
  • The stock price of Quotient Ltd (NASDAQ: QTNT) increased by over 50% pre-market today. This is why.

The stock price of Quotient Ltd (NASDAQ: QTNT) increased by over 50% pre-market today. Investors responded positively to Quotient previewing the financial results for the fourth quarter.

Quotient had announced that it is rescheduling the release of its financial results for the fourth quarter and full-year 2022 ended March 31, 2022. Now the company will release these financial results and host a conference call before the market opens on Friday, June 24, 2022.

Quotient expects to report reagent business generated product sales of $9.8 million in the fourth quarter of fiscal 2022 and full fiscal year 2022 revenue of $38.5 million. And the company recently secured $1.4 million of orders in the first quarter of the fiscal year 2023 for its recently CE Marked Extended Immunohematology (IH) MosaiQ solution. As of March 31, 2022, Quotient had $83.2 million in cash and investments and $8.7 million in restricted cash.

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