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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.
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.
Akoya Biosciences, Inc. (Nasdaq: AKYA) has announced the appointment of Scott Mendel as Chairman of its Board of Directors, effective October 2, 2024. Mendel, who has been a board member since June 2021, succeeds Robert Shepler, the founding Chairman who will remain on the board. With over 30 years of financial and operational management experience, Mendel previously served as President and CEO of GenMark Diagnostics until its $1.8 billion acquisition by Roche in 2021.
Mendel's extensive background includes roles at The Active Network and General Electric's Healthcare IT division. He currently serves on the boards of Quantum-Si Incorporated and Pattern Biosciences. Akoya's CEO, Brian McKelligon, expressed confidence in Mendel's leadership, citing his operational expertise and industry experience as valuable assets for the company's future growth in the Spatial Biology sector.
Akoya Biosciences (Nasdaq: AKYA) reported Q2 2024 financial results, showing a 26% sequential revenue growth to $23.2 million. Despite a slight 1.5% year-over-year decrease, the company saw significant improvements across instruments, consumables, and services. Gross margin improved to 57.8%, up from 45.7% in Q1 2024 and 51.5% in Q2 2023. Operating expenses decreased by 18.3% quarter-over-quarter and 22% year-over-year to $24.5 million. The company's installed base grew 18.8% year-over-year to 1,264 instruments. Akoya updated its full-year 2024 revenue outlook to $96-104 million, maintaining its commitment to achieve operating cash flow breakeven by year-end.
Akoya Biosciences (Nasdaq: AKYA), The Spatial Biology Company®, has announced key dates for investors. The company will release its Q2 2024 financial results on August 5, 2024, after market close, followed by a conference call at 5:00 p.m. ET. Investors must register online to participate. Additionally, Akoya's management will present at two upcoming investor conferences:
1. Canaccord Genuity 44th Annual Growth Conference on August 13 at 2:30 PM ET
2. Morgan Stanley 22nd Annual Global Healthcare Conference on September 6 at 1:05 PM ET
Live and archived webcasts of all events will be available on Akoya's investor relations website.
Akoya Biosciences (Nasdaq: AKYA) reported Q1 2024 revenue of $18.4 million, a 14% decline from the previous year. Despite challenges, reagent and services revenue saw growth. Operating expenses were $30 million, with a non-GAAP loss from operations of $15.2 million, excluding adjustments. The company announced a new Manufacturing Center of Excellence and partnerships with Acrivon Therapeutics and NeraCare. The installed base of instruments increased by 22% year-over-year. However, deferred revenue and operational delays impacted Q1 results. Akoya maintains a full-year revenue outlook of $104-$112 million.
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