SLGC Stock: Why It Increased Today

By Dan Anderson ● September 14, 2021
  • The stock price of SomaLogic (Nasdaq: SLGC) increased pre-market today. This is why it happened.

The stock price of SomaLogic (Nasdaq: SLGC) – a leader in AI-data-driven proteomics technology – increased pre-market today. Investors are responding positively to a couple of recent announcements from the company. 

Yesterday morning, SomaLogic announced a strategic collaboration with the leading health system UPMC to explore how the large-scale study of proteins and their functions in the body can effectively be used in clinical care. As part of the agreement, UPMC and SomaLogic will establish a collaboration for promoting the use of proteomic data in building healthier communities, improving patient care and reducing healthcare costs. 

This collaboration will include clinical research and development projects that establish the groundwork for use of proteomics as part of the larger vision for modern healthcare. And the work planned at UPMC and insights gained may enable providers to make decisions based on an individual’s unique proteomic signature, reflecting certain indicators used for determining their real-time health status and disease risk.

The agreement with UPMC is part of SomaLogic’s SomaSignal Proteomics for Precision Medicine Initiative – the first large-scale clinically focused partnership effort aimed at equipping healthcare providers with the power of proteomic technology to inform decisions at the point of care. And SomaLogic can run approximately 7,000 protein measurements on a single 55-microliter plasma or serum sample. The company has run over 450,000 samples to date.

Yesterday afternoon, the company also announced it will host a virtual Analyst and Investor Meeting on Tuesday, September 28, 2021 from 11:00 a.m. to approximately 1:00 p.m. Eastern Time. This event will feature presentations from company leaders outlining SomaLogic’s technology, addressable market opportunity, financial outlook, and key metrics for success as it continues its scientific and commercial progress.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.