Abcam plc - ABCM STOCK NEWS

Abcam (AIM: ABC; NASDAQ: ABCM) extends its strategic partnership with MEDx to co-develop and commercialize companion and in vitro diagnostic kits for the Chinese market. This collaboration builds on a successful three-year relationship and aims to leverage Abcam's validated antibodies and MEDx's expertise in diagnostics. The agreement will define target product profiles to aid precision diagnostics in China. Key targets include NY-ESO-1, HER2, and others. The partnership is expected to enhance the availability of innovative diagnostics, aligning with the growing precision medicine trend in the region.

Abcam plc (Nasdaq: ABCM) announces its interim results for H1 2021, reporting revenue growth of 6.7% to £147.5m. Gross profit margin improved to 70.9%, with a decline in operating profit to £15.5m and diluted EPS of 5.3p. Innovations included more than 2,500 new in-house products, with a revenue increase of 24.5% at constant exchange rates. Despite strong strategy execution, lab access remains limited due to COVID-19, impacting demand and long-term growth outlook, now revised to £425-500m by 2024.

Abcam (NASDAQ: ABCM) announced the expansion of its operations in China with new facilities in Hangzhou and Shanghai. The Hangzhou site has increased by one-third in size to enhance manufacturing and logistics capabilities, while the Shanghai facility covers 10,000 sq ft for direct customer support. This expansion aims to strengthen Abcam's position in the life sciences sector and foster collaboration with Chinese scientists. To further improve services, Abcam is investing in state-of-the-art technology and automation, supporting research, diagnostics, and clinical applications.

Abcam, a leader in life science research tools, will announce its Interim Results for the six months ending December 31, 2020, on March 8, 2021, at 12:00 p.m. GMT (7:00 a.m. EST). A teleconference and webcast will follow at 2:00 p.m. GMT (9:00 a.m. EST). Participants can access the webcast through a provided link, and details for dial-in participation are included. The call will also be archived on Abcam's corporate website for later access. This regular financial update highlights Abcam's commitment to transparency within its operations.

Abcam plc (Nasdaq: ABCM) has announced that CEO Alan Hirzel will present at the 2021 SVB Leerink Global Healthcare Conference on February 26, 2021, at 8:00 EST / 13:00 GMT. A live webcast of the presentation will be available on Abcam's Investor Relations website. The company, founded in 1998 and headquartered in Cambridge, UK, focuses on providing validated antibodies and research tools to life science researchers worldwide. Abcam aims to enhance understanding of biology and disease causes, thereby driving new treatments.

Abcam has appointed Bessie Lee and Mark Capone as non-executive Directors as of January 28, 2021. Bessie Lee, CEO of Withinlink, brings extensive marketing experience from WPP, particularly in the Chinese market. Mark Capone, former CEO of Myriad Genetics, holds over 35 years in the life sciences sector. Their expertise is expected to support Abcam's growth strategy. Capone will also join the Remuneration Committee. The appointments highlight the company's focus on enhancing its leadership team to drive future developments in life science research tools.

Abcam has reported a return to growth for the first half of the fiscal year, with revenues reaching £147.5 million, reflecting an 8.3% increase in constant currency and 6.7% on a reported basis. In-house products contributed over 55% of total revenue, growing by more than 25%. The gross margin is expected to be around 70.5%, up from 69.7% in the previous year. The company also successfully completed its US equity listing on Nasdaq. CEO Alan Hirzel expressed confidence in the long-term outlook despite market challenges.

Abcam (AIM:ABC; NASDAQ:ABCM) has opened a new 16,000 sq ft facility in Fremont, CA, aimed at enhancing its cell engineering capabilities. This facility will support the development of customized engineered cell lines, contributing to Abcam's growth in the biotech sector. The opening follows Abcam's acquisition of a CRISPR-Cas9 gene editing platform and highlights the company’s investment in expanding its portfolio for research, diagnostics, and therapeutics. With advanced tissue culture labs, the site will strengthen Abcam’s position in the edited cell line market.