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Akoya BioSciences, Inc. (Nasdaq: AKYA) is a leading life sciences technology company pioneering spatial biology solutions that transform discovery, clinical research, and diagnostics. Akoya is committed to advancing the science of imaging with its comprehensive platforms, including PhenoCycler® and PhenoImager®, that perform deep proteomic profiling and spatial phenotyping. These cutting-edge platforms enable researchers to analyze tissue samples with high precision, providing insights into cellular interactions and disease mechanisms.
In 2024, Akoya announced preliminary unaudited revenue for Q4 2023 between $25.5 million and $26.5 million, marking a significant increase from Q4 2022. For the fiscal year 2023, revenues are expected to reach between $95.6 million and $96.6 million.
Akoya's portfolio includes innovative products like PhenoCode™ Panels, PhenoCycler®, and PhenoImager® HT, which support high-throughput and high-parameter tissue analysis. Notably, the company has recently partnered with Thermo Fisher Scientific to enhance its spatial multiomic workflow by integrating ViewRNA technology.
The company's technology has attracted significant attention in the scientific community, with its systems cited in over 1,300 publications as of March 2024. Akoya has also formed strategic partnerships and collaborations, including with the Queensland Spatial Biology Centre and organizations like BostonGene and NeraCare, enhancing the application of its platforms in various fields of research and clinical diagnostics.
Financially, Akoya aims for substantial revenue growth in 2024 with projections exceeding 20%, supported by its robust balance sheet and strategic initiatives like the new Manufacturing Center of Excellence in Marlborough, MA. This facility is expected to streamline operations, improve supply chain efficiency, and meet the growing demand for spatial biology solutions.
If you're a scientist or software engineer passionate about revolutionizing imaging science, Akoya BioSciences offers an exciting environment for innovation. For more information, contact Akoya at info@akoyabio.com.
Kent Lake PR , holding 5.9% of Quanterix (NASDAQ: QTRX) shares, has announced its opposition to the proposed merger with Akoya Biosciences (NASDAQ: AKYA). The firm criticizes the merger terms, highlighting several key concerns:
The deal values Quanterix at only $42 million enterprise value compared to Akoya's $168 million, despite Quanterix's superior revenue and growth prospects. Kent Lake argues this merger would reduce Quanterix's cash runway from 6.5 to 2.5 years and distract from its important Alzheimer's diagnostic expansion.
Kent Lake views the deal as a bailout for struggling Akoya at Quanterix shareholders' expense. The firm urges Quanterix's Board to abandon the merger and explore alternatives, including standalone growth or a potential sale exceeding $1 billion. Kent Lake plans to mobilize shareholders against the deal and may nominate directors at the 2025 Annual Meeting.
Akoya Biosciences has announced its strategic product roadmap, featuring new ultrahigh-plex neurobiology panels for human and mouse applications. The announcement follows the successful launch of Human IO60 and Mouse FFPE IO panels in November 2024. The company plans to release PhenoCode Human and Mouse FFPE Neurobiology panels at the end of Q1 and Q2 2025 respectively.
The IO60 panel has received positive feedback from key opinion leaders for its ability to analyze immune landscapes and tumor-immune interactions. Strategic partnerships with CROs including Precision for Medicine, BostonGene, and Infinity Scope have enhanced IO60's market adoption.
The upcoming neurobiology panels will focus on neurodegenerative diseases, neuroinflammation, and vascular integrity research. Both panels are optimized for the PhenoCycler-Fusion platform, which the company describes as the fastest spatial proteomics discovery tool.
Akoya Biosciences (NASDAQ: AKYA) has selected Argonaut Manufacturing Services as its manufacturing partner for in-vitro diagnostic (IVD) assays currently in development. This expanded collaboration builds upon their existing partnership, where Argonaut previously supported Akoya's Research Use Only (RUO) portfolio.
The partnership aims to manufacture high-quality IVD products under strict cGMP and ISO 13485:2016 requirements. Akoya's spatial phenotyping technology and PhenoImager platform have shown diagnostic capabilities for patient selection, while Argonaut's manufacturing systems will help scale IVD offerings to meet market demand.
This strategic collaboration reflects both companies' commitment to advancing precision medicine through high-quality diagnostics, with Argonaut's expertise in regulated markets and FDA requirements supporting Akoya's expansion in the companion diagnostic space.
Quanterix (NASDAQ: QTRX) has announced a definitive merger agreement to acquire Akoya Biosciences (NASDAQ: AKYA) in an all-stock transaction, creating the first integrated platform for detecting blood- and tissue-based protein biomarkers. Under the agreement, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each Akoya share, representing a 19% premium.
The combined entity expects to generate $40 million in annual cost synergies by 2026, with $20 million realized within the first year post-closing. The merged company will have approximately $175 million in cash at closing with no debt, and a combined trailing 12-month revenue of about $220 million as of September 2024.
The transaction is expected to close in Q2 2025, with Quanterix shareholders owning 70% and Akoya shareholders 30% of the combined company. The merger aims to accelerate biomarker translation from research to clinic and expand technology offerings across neurology, oncology, and immunology markets.
Akoya Biosciences (NASDAQ: AKYA) has entered into an exclusive global license agreement with NeraCare to develop and commercialize the Immunoprint test for early-stage melanoma patient treatment decisions. The test will be developed on Akoya's multiplexed immunofluorescent platform, specifically the PhenoImager HT platform.
The Immunoprint assay addresses a critical need by identifying high-risk early-stage melanoma patients who could potentially benefit from therapeutic options typically reserved for later-stage patients. This is particularly significant as melanoma sees over 235,000 new diagnoses annually, with 80% being early-stage cases (IA/IB/IIA).
The agreement grants Akoya exclusive rights for clinical research, diagnostic development, and patient clinical testing following regulatory approval.
Nature Methods has named spatial proteomics as its 'Method of the Year 2024', highlighting the transformative impact of this technology in biological research and medicine. Akoya Biosciences (Nasdaq: AKYA), a leader in spatial proteomics with 1300 installed instruments and nearly 1600 publications, celebrates this recognition.
Spatial proteomics enables scientists to map protein distribution within cells and tissues, providing insights into cellular mechanisms and disease progression. The company offers comprehensive solutions through its PhenoCycler®-Fusion platform for spatial discovery and PhenoImager® HT for translational applications.
Akoya's technology contributes significantly to global initiatives like the Human Tumor Atlas Network and HuBMAP, while powering multi-site collaborations such as the MANIFEST program. Their solutions range from multiplex immunofluorescence measuring 6-8 biomarkers to systems capable of profiling over 100 analytes in a single experiment.
Akoya Biosciences (NASDAQ: AKYA) reported Q3 2024 financial results with revenue of $18.8 million, marking a 25% decrease from Q3 2023. Gross margin improved to 62.3% from 60.6% year-over-year. Operating expenses decreased 25% to $20.1 million, while loss from operations improved 28% to $8.3 million. The company ended Q3 with $39.3 million in cash and equivalents. The installed base grew 15% year-over-year to 1,299 instruments. Due to persistent macro challenges, Akoya revised its full-year 2024 revenue guidance to $80-85 million, down from previous $96-104 million range. The company is evaluating strategic alternatives for sustainable growth.
Akoya Biosciences (NASDAQ: AKYA) announces major innovations in spatial biology research at SITC 2024, introducing the PhenoCode Discovery IO60 panel and Mouse FFPE IO panel. The IO60 panel features 60 tumor and immunology markers, enabling comprehensive immune cell analysis with industry-leading throughput of over 16 samples per week. The Mouse FFPE IO panel includes 24 biomarkers for preclinical cancer research. Additionally, Akoya is expanding its PhenoCode catalog to support 100-biomarker experiments, making ultrahigh-plex spatial biology more accessible for laboratories.
Akoya Biosciences (Nasdaq: AKYA) has scheduled its third quarter 2024 financial results announcement for November 14, 2024, after market close. The company will host a conference call at 5:00 p.m. ET on the same day to discuss the results. Investors must register online to participate in the conference call, with registration recommended at least one day in advance. A live and archived webcast will be available on the company's investor relations website.
Akoya Biosciences (Nasdaq: AKYA) announced that its PhenoCycler® Fusion and PhenoImager® HT spatial proteomics platforms will be used in the MANIFEST (Multiomic Analysis of Immunotherapy Features Evidencing Success and Toxicity) program. This UK-based initiative, funded by the Office of Life Sciences and Medical Research Council, aims to advance cancer immunotherapy research through deep multi-omic profiling.
The MANIFEST consortium, led by the Francis Crick Institute and The Royal Marsden NHS Foundation Trust, will study why certain cancer patients respond to immunotherapy while others do not. Akoya's platforms will analyze tissue samples from thousands of cancer patients to identify biomarkers predicting treatment success and potential side effects.
The four-year program will initially evaluate 6,000 patients with breast, bladder, kidney, and skin cancer, with plans to expand to other cancer types. This collaboration aims to improve patient care and advance personalized medicine in cancer immunotherapy.
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