Stock Alert: Quotient Down 12%

(RTTNews) - Shares of Quotient Ltd. (QTNT) are losing over 12% on Monday morning after the diagnostics company reported a third-quarter loss that was wider than Wall Street analysts' estimates. Quotient also reported that the timing of its planned CE Mark submission for its Expanded Immunohematology microarray has been delayed, primarily due to various disruptions and burdens caused by the pandemic.

QTNT is currently trading at $5.33, down $0.73 or 12.05%, on the Nasdaq.

The company now expects to make this CE mark submission in the second quarter of calendar year 2021.

Net loss for the quarter was $29.76 million or $0.29 per share, wider than last year's loss of $27.49 million or $0.37 per share. Third-quarter revenues were $8.75 million, up from $7.94 million last year. Analysts estimated a loss of $0.29 per share and revenues of $8.3 million.