Welcome to our dedicated page for Abcam plc news (Ticker: ABCM), a resource for investors and traders seeking the latest updates and insights on Abcam plc stock.
Abcam plc (Nasdaq: ABCM) is a leading global provider of protein research tools, dedicated to serving the life science community. Founded in 1998 and headquartered in Cambridge, UK, Abcam supplies highly validated antibodies, assays, and other essential research tools to scientists worldwide. With a mission to help researchers unlock the complexities of biology and disease, Abcam is instrumental in accelerating the discovery of new treatments and improving health outcomes.
Abcam’s innovative approach in data sharing and e-commerce has set industry standards, making it a pioneer in the life sciences sector. The company supports approximately 750,000 researchers in over 130 countries, continually enhancing its product portfolio based on customer feedback and scientific needs. This commitment to quality and transparency is reflected in their comprehensive customer reviews and datasheets, providing confidence in research results.
Recently, Abcam has been at the center of significant corporate developments. In August 2023, Danaher Corporation announced its agreement to acquire Abcam for $24.00 per share, a move that underscores Abcam’s value and potential in the life sciences industry. This acquisition will see Abcam operate as a standalone entity within Danaher's Life Sciences segment, leveraging the Danaher Business System to foster further innovation and growth.
Despite facing industry-wide challenges such as geopolitical tensions and macroeconomic fluctuations, Abcam has shown resilience and strategic foresight. The company's robust financial health and strategic initiatives, including a comprehensive review of strategic alternatives, have positioned it well for future success within the Danaher family. This transition marks a significant milestone in Abcam's journey, promising continued advancements and sustained support for the global scientific community.
Abcam plc (Nasdaq: ABCM) reported a 15% increase in revenue for the year ended December 31, 2022, reaching £361.7 million compared to £315.4 million in 2021. In-house revenues surged by 26%, significantly contributing to an adjusted gross profit margin of 75.5%. Despite an operating loss of £10.1 million due to an impairment charge, adjusted operating profit rose by 26% to £76.3 million. The company anticipates FY2023 revenues between £420 million and £440 million, indicating a 15%-20% growth rate. Abcam aims for FY2024 revenue of £450 million to £525 million with operating margins exceeding 30%.
Abcam plc will announce its full-year results for the year ending 31 December 2022 on 20 March 2023 at 7:00 a.m. ET. Following the results, the Company will hold a live teleconference and webcast at 8:00 a.m. ET. Investors can access the webcast through the provided link or via the Company's investor section on its website. Abcam is a global leader in life science research tools, serving around 750,000 researchers in over 130 countries. The Company aims to enhance biological understanding and disease treatment through innovative reagents and tools.
Abcam plc (NASDAQ: ABCM) released a preliminary trading update for the year ending December 31, 2022, highlighting an approximate total revenue of £360 million, showing double-digit growth despite challenges. Key factors affecting revenue included disruptions from a new ERP system and COVID-19 impacts in China. Noteworthy achievements include the opening of a business hub in Singapore and the full integration of BioVision. The company anticipates a 15% to 20% revenue growth for FY2023 and aims for a revenue target of £450m-£525m with adjusted operating profit margins over 30% by FY2024. Full results will be disclosed on March 20, 2023.
Abcam provides an update on the cancellation of its Ordinary Shares' trading on AIM, effective from December 14, 2022. The last trading day will be December 13, 2022. Following this delisting, Abcam's American Depositary Shares (ADSs) will continue to be traded on Nasdaq under the ticker symbol ABCM. This shift aims to streamline trading and improve accessibility for investors. For more details on the process of converting Ordinary Shares to ADSs, visit the company's official website.
Abcam plc has successfully passed a resolution for the cancellation of its Ordinary Shares trading on the AIM market at its General Meeting held on November 11, 2022. A significant majority, 98.19%, voted in favor of the delisting, with 1.81% against. The final delisting will be effective from 7:00 a.m. on December 14, 2022. Shareholders can exchange their Ordinary Shares for American Depositary Shares (ADSs) without cost until December 14. This move is part of Abcam's strategy to consolidate its market presence and enhance shareholder value.
NanoString Technologies (NASDAQ: NSTG) and Abcam (NASDAQ: ABCM) have expanded their collaboration, announcing a co-marketing agreement for Abcam's validated antibodies to be integrated into NanoString's CosMx Spatial Molecular Imager (SMI). This partnership will enhance spatial biology capabilities, offering the first 64-plex protein panel for high-plex spatial multiomics at single-cell resolution. The new human immuno-oncology panel will be presented at the 37th Annual Meeting of the Society of Immunotherapy of Cancer Conference on Nov. 10.
Abcam plc plans to cancel its ordinary shares from trading on AIM, effective 14 December 2022, subject to shareholder approval at a general meeting on 11 November 2022. This move aims to enhance trading liquidity by consolidating its shares on Nasdaq, where its American Depositary Shares (ADSs) will continue to trade. Shareholders are encouraged to deposit their ordinary shares for ADSs, without incurring costs if done before the delisting date. Abcam aims to attract more investors and streamline administrative processes following the AIM delisting.
Abcam plc reported a 20% constant exchange rate revenue growth for H1 2022, reaching £185.2 million, a 23% increase from H1 2021. The adjusted gross profit margin rose to 75.6%, while adjusted operating profit surged by 60% to £42.6 million. In-house products now constitute 67% of total revenue. Although reported operating profit fell to £9.3 million, adjusted diluted earnings per share jumped 97% to 14.0p. The company plans to cancel its AIM listing following positive shareholder feedback. Full-year revenue growth is forecasted at 20%.
Abcam plc (AIM: ABCM, Nasdaq: ABCM) reported a robust trading update for the six months ending June 30, 2022, indicating total revenues of approximately £185 million, representing a 19% growth at constant exchange rates and 23% growth on a reported basis. This growth is attributed to in-house catalogue sales and improved gross margins. The company anticipates a 20% revenue growth for 2022. Additionally, Abcam plans to maintain a sole listing on Nasdaq, canceling its AIM admission, pending shareholder approval.
Abcam, a leader in life science research tools, has appointed Tommy Thomas as Vice President of Investor Relations as of June 27, 2022. With over 20 years of experience in the sector, including roles at Avantor and Perkin Elmer, Thomas is expected to enhance the company's investor relations and strengthen ties with institutional investors. Michael Baldock, CFO of Abcam, expressed that Thomas's expertise aligns with the company's growth strategy. Abcam aims to differentiate itself further in the marketplace through customer-centric innovation.
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