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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 announced results from a multi-site study demonstrating the standardization of an automated spatial biology workflow using their Phenoptics™ multiplex immunofluorescence (mIF) platform for clinical research. The MITRE study, involving top institutions like Johns Hopkins and MD Anderson, validated the workflow for characterizing PD-1/PD-L1 immune checkpoint signaling in tumors. The findings indicate that the automated mIF method could enhance clinical trial outcomes and support predictive biomarker development for immunotherapies.
Akoya Biosciences (Nasdaq: AKYA) has announced new partnerships with Nikon, CrestOptics, and Andor to enhance its CODEX® solution for single-cell imaging. These collaborations aim to improve spatial biology applications and streamline user experiences. The partnerships will allow for faster acquisition speeds and better resolution in imaging. Researchers are invited to join the I2 Network for developing new applications, with applications open until July 9. CEO Brian McKelligon highlighted the commitment to broaden access to innovations in spatial biology.
Akoya Biosciences (NASDAQ: AKYA) announced the appointment of Scott Mendel to its Board of Directors. Mendel, a seasoned diagnostics industry leader, previously served as CEO of GenMark Diagnostics, which was acquired by Roche for $1.8 billion. His expertise in transforming innovative technologies into clinical solutions aligns with Akoya's mission to enhance biomarker discovery through spatial biology platforms. CEO Brian McKelligon expressed confidence in Mendel’s ability to drive insights as the company advances its strategic goals.
Akoya Biosciences (Nasdaq: AKYA) announced that its CODEX® solution will be part of the Chan Zuckerberg Initiative (CZI) grantees' toolkit, enhancing biological research capabilities with single-cell, whole-tissue imaging. This collaboration aims to support over 350 labs in the CZI network, focusing on spatial phenotyping to better understand cellular interactions and disease progression. The company’s CEO expressed enthusiasm for this addition, emphasizing its potential for breakthrough discoveries in health research.
Akoya Biosciences (NASDAQ: AKYA) announced collaboration with Johns Hopkins University (JHU) on AstroPath, a platform for predicting immunotherapy responses in advanced melanoma. Utilizing Akoya’s Phenoptics solution, researchers identified a composite spatial phenotypic signature that predicts response to anti-PD-1 therapy with an impressive area under the curve (AUC) of 0.91. This study, published in Science, highlights the potential of spatial biomarkers for enhancing immunotherapy precision and could impact other cancer types. The research underscores a groundbreaking approach to biomarker discovery.
Akoya Biosciences, Inc. (Nasdaq: AKYA) announced its upcoming inclusion in the Russell 3000® Index, effective June 28, 2021. This membership positions Akoya for potential visibility and investment opportunities within the broader market, as it guarantees automatic inclusion in either the Russell 1000® or Russell 2000® Index. The company highlights this milestone following the successful IPO in April that raised $153.3 million, reinforcing its commitment to enhancing shareholder value and advancing its spatial biology platform.
Akoya Biosciences announces a partnership with AstraZeneca to enhance drug development using Akoya's Phenoptics™ platform, focusing on multiplex immunofluorescence (mIF) workflows and spatial biomarkers. This collaboration aims to improve understanding of cancer's immune biology, aiding in the identification of predictive biomarkers crucial for effective immunotherapy. The agreement seeks to streamline clinical trials and boost precision medicine, potentially increasing trial success rates. Akoya's ABS team will showcase its work at the ASCO Virtual Meeting from June 4-8, 2021.
Akoya Biosciences has launched Advanced Biopharma Solutions (ABS), a premium service designed to enhance drug development and clinical trials through spatial biomarker guidance. The ABS initiative aims to improve the accuracy of predictive biomarkers, ultimately reducing clinical trial failure rates, particularly in immunotherapy. Utilizing Akoya's Phenoptics™ mIF platform, this program supports biopharmaceutical companies with custom assay development and image analysis. The launch is significant in the context of advancing precision medicine and addressing challenges in identifying effective cancer treatments.
Akoya Biosciences (AKYA) reported Q1 2021 total revenue of $12.2 million, achieving the upper limit of its forecast. This reflects a growth from $11.0 million in Q1 2020. The company sold 37 instruments, including 20 CODEX, marking a significant sales increase. Gross profit rose to $7.4 million with a margin of approximately 61%. Akoya raised $151.3 million in an IPO and anticipates full-year revenue of at least $52.0 million, with Q2 growth expected at 45% over last year.
Akoya Biosciences (NASDAQ: AKYA) announced a co-marketing agreement with ZEISS for the CODEX® spatial phenotyping solution. This partnership aims to enhance the integration of Akoya's high-parameter CODEX system with the ZEISS Axio Observer microscope platform. The collaboration supports an affordable, open-access strategy aimed at advancing biological research across disciplines such as cancer and immunology. The partnership promises improved user experience and faster acquisition speeds, emphasizing Akoya's commitment to accessible ultra-high multiplex imaging.
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