The company conducts design work, prototyping, and pilot manufacturing internally before outsourcing substantial manufacturing to third-party contract manufacturers to facilitate rapid scalability. Some components and materials are sourced from single suppliers; during the twelve months ended December 31, 2023, one supplier accounted for over 10% of materials and equipment purchases. The company has invested in automated production lines for its Talis One cartridges, capitalizing assets with alternative future use and expensing those without. Since its founding in 2013, the company has focused on research and development, manufacturing capabilities, capital raising, intellectual property, and administrative and selling support. Operations have been primarily financed through convertible preferred stock financings, convertible promissory notes, government grants, and an initial public offering in February 2021. As of December 31, 2023, the company reported an accumulated deficit of $540.0 million and held unrestricted cash and cash equivalents of $76.7 million, sufficient to fund operations for at least the next 12 months. In March 2023, the company terminated a lease and entered into a sublease for laboratory and office space in Redwood City, California.
Talis Biomedical's Comment on Supply Chain
The company conducts design work, prototyping, and pilot manufacturing internally before outsourcing substantial manufacturing to third-party contract manufacturers to facilitate rapid scalability. Some components and materials are sourced from single suppliers; during the twelve months ended December 31, 2023, one supplier accounted for over 10% of materials and equipment purchases. The company has invested in automated production lines for its Talis One cartridges, capitalizing assets with alternative future use and expensing those without. Since its founding in 2013, the company has focused on research and development, manufacturing capabilities, capital raising, intellectual property, and administrative and selling support. Operations have been primarily financed through convertible preferred stock financings, convertible promissory notes, government grants, and an initial public offering in February 2021. As of December 31, 2023, the company reported an accumulated deficit of $540.0 million and held unrestricted cash and cash equivalents of $76.7 million, sufficient to fund operations for at least the next 12 months. In March 2023, the company terminated a lease and entered into a sublease for laboratory and office space in Redwood City, California.
Sources:
Talis Biomedical Corporation's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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