Cytek Biosciences, Inc.

Thank you for standing by and welcome to the SciTech Biosciences fourth quarter 2021 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star one on your telephone. We ask that you please limit yourself to one question, one follow-up. You may get back in the queue as time allows. As a reminder, today's program may be recorded. I would now like to introduce your host for today's program, Alex Kahn, Investor Relations. Please go ahead, sir.

Thank you. Earlier today, SciTech Biosciences released financial results for the quarter and year ended December 31, 2021. If you haven't received this news release, or if you'd like to be added to the company's distribution list, please send an email to investors at scitechbio.com. Joining me today from SciTech are Wenbin Zhang, CEO, and Patrick Jimenud, Chief Financial Officer. Before we begin, I'd like to remind you that management will make statements during this call that are forward-looking statements within the meetings of the federal securities laws, including statements regarding Scitech's business plans, strategies, opportunities, and financial projections. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated. Additional information regarding these risks and uncertainties appears in the section entitled forward-looking statements in the press release Scitech issued today and in Scitech's filings with the SEC. This call will also include a discussion of certain financial measures that are not calculated in accordance with generally accepted accounting principles. Reconciliations to the most directly comparable GAAP financial measure may be found in today's earnings release submitted to the SEC. Except as required by law, SITEC disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast. February 23, 2022. With that, I would like to turn the call over to Wendon.

Thanks, Alex, and welcome everyone joining the call today. I want to start by thanking the incredible SciTech team for their dedication and execution as we closed out 2021. On today's call, I will begin with a brief overview of our company. I will discuss our exciting progress for the quarter and the year. And finally, I will turn the call over to Patrick for a more detailed look at our financials. For those of you new to the SciTech story, we are a leading cell analysis solutions company advancing the next generation of cell analysis tools by leveraging novel technical approach to create our full spectrum profiling or FSP platform. Our FSP platform includes instruments, reagents, software, and application services and utilizes the full spectrum of fluorescent signatures to deliver high resolution, high content, and high sensitivity cell analysis. Our technology and solutions address some of the key limitations of conventional methods While flow cytometry is a widely used tool for single-cell analysis, conventional flow cytometry and the early approach to special flow cytometry have been challenged, as they are only able to detect a few markers in a single tube. Their limited dimensionality, suboptimal resolution, low throughput, high cost for performance, The significant technical XP is required to operate their systems has really limited the advanced cell analysis field. By contrast, our patented FP technology optimizes sensitivity and accuracy through its novel optical and electronic designs that utilize an innovative method of light detection and distribution. This novel technological application allows us to address the inherent limitations of other technologies by providing a higher density of information with greater sensitivity, more flexibility, and increased efficiency, all at a lower cost for performance. Our innovative technology has been validated by the 385 peer-reviewed publications to date. Over 1,100 instrument placements at the end of the year and a growing number of applications. At Scitech, we provide our customers with an end-to-end solution consisting of instruments, reagents, software, and application services. We launched our initial flagship instrument, the Aurora, in 2017. A year later, we launched the Northern Lights instrument and entry-level product. Both instruments are cell analyzers offering high throughput, ultra-sensitive analysis, and intuitive workflows that work to address the unmet needs of our customers. These instruments are efficient and compact, making them well-suited for clinical research. In October of 2020, we launched our reagents to capitalize upon the recurring revenue opportunities derived from the installed base we have generated. Our 14-color seafloor immunoprofiling kit and the 40-color optimized multicolor immunofluorescence panel provide users with ready-to-use protocols and antibodies, simplifying the workflow from sample preparation to data analysis. In October of 2021, We launched our new 25-color immunoprofiling assay and shortly after acquired the reagents business of Tangbo Biosciences. Both additions further strengthen our position as a full solution provider to our customers. Our 25-color immunoprofiling assay includes reagents and tools optimized for use with our Aurora's full spectral flow psychometer. we are creating a new novel for flow cytometry by making such a high-dimensional panel available as a standardized kit. This past year, we also began shipping our cell sorters, which enable additional downstream genomic and proteomic analysis. Importantly, our sorters allow researchers to isolate living cell populations from higher complexity panels beyond 40-bar markers. While our cell analyzers have been strong drivers of our revenue growth to date, we expect that reagents and cell sorters will play an important role in driving our revenue growth over the next three to five years. As we highlighted previously, once an instrument has been placed Our intuitive workflow allows customers to quickly get up to speed on the technology and begin generating results. Additionally, we routinely work with KOLs, engaging with these industrial leaders to address their particular scientific questions by optimizing reagents and the protocol on our instrumentation. This often creates a blueprint for other customers to build upon. By collaborating with customers to create these novel reagent panels or kits, we are continually opening new applications in the markets for our FSP platform. I'm proud to say that our installed base of instruments continue to achieve robust growth. This quarter, we placed 140 instruments, bringing our total installed base to 1,110 instruments as of the end of the year. We continue to execute on our core strategy and have achieved solid adoption with high-dimensional cell analysis users while also bringing full special profiling to entry-level users as well. During the fourth quarter of 2021, we achieved the exciting milestone of shipping our 1,000 cell analysis system. since first being introduced in 2017. Our cell analysis systems have gained a widespread adoption across the globe with use in more than 40 countries. Additionally, we continue to make progress in regulated clinical markets, including in China and in the EU. In China, We have made progress towards China National Medical Product Administration or NNPA IVD Class III certification for the TBNK assay to run on our previously certified Northern Lights CLC instruments. Data collection has been completed at three hospitals comprising 700 patients and the data analysis and NNPA submission package preparation has been initiated. In the EU, we have received IBDD certification for our automated sample loader, or ASL, that is an accessory to our previously IBDD-certified Northern Lights CLC instrument. We also closed on our acquisition of Tangbo Biosciences reagent business, which, along with the launch of our additional sea floor reagent and the reagent kits, meaningfully enhanced our regional portfolio offering. The integration of TumbleVal Sciences business within SciTech is largely complete as we are now preparing to expand these offerings further. We welcome the talented Tumble team into SciTech and are excited to grow our presence in San Diego. We are very pleased with the performance of these important new offerings and the value they bring to our platform. And last month, we announced the expansion of our Fremont headquarters with the opening of a new facility, tripling our previous manufacturing capacity in order to meet growing global demand for cell analysis solutions. In addition to the new Fremont facility, we have also opened new offices in Seattle, Washington, which are dedicated to key R&D initiatives and customer application support. This new facility supports our commitment to develop tools that will advance the next generation of cell analysis and become the partner of choice for players throughout the life sciences field. As I mentioned earlier, our technology has been validated by 385 peer-reviewed publications today. These publications cover a wide array of topics, with the top five subjects being infectious disease, immunology, immunotherapy, immuno-oncology, and oncology. In the fourth quarter, Tsai has had 55 publications in peer-reviewed scientific journals. Eleven of these publications were about COVID-19, including a nature paper elucidating which type of cells give rise to human immune system memory and the mechanism for that protection. HIV continues to be another area of investigation for our customers. In Nature Medicine, authors including Dr. Anthony Fauci published an article detailing how the human immune system reacts when HIV treatment is interrupted. I'm excited by the progress our team has made this quarter and throughout the course of the year as we continue to establish ourselves as a leading cell analysis solutions company. As we push forward a cadence of new products and applications, we are deeply focused on providing a complete cell analysis solution to our customers. We look forward to continuing to provide our novel FFT platform to these customers as they push the bounds of scientific discovery. With that, I will now turn the call over to Patrick for more details around our financials. Thanks, Wenbin.