Welcome to our dedicated page for Phenomex news (Ticker: CELL), a resource for investors and traders seeking the latest updates and insights on Phenomex stock.
PhenomeX Inc. (Nasdaq: CELL) is at the forefront of functional cell biology, offering cutting-edge solutions that empower scientists to harness the full potential of each cell. The company provides a comprehensive suite of high-throughput tools and services designed to accelerate discoveries in biopharma, diagnostics, and life sciences research.
PhenomeX's unique technologies facilitate unprecedented single-cell manipulation, enabling researchers to gain profound insights into cell function. Their renowned Beacon platform, central to many groundbreaking studies, offers unmatched speed and accuracy in identifying and isolating individual B cells. This platform has been pivotal in recent research on SARS-CoV-2, helping to identify potent Omicron-neutralizing antibodies.
The company continues to innovate with launches like the Meteor™ chips on the IsoSpark™ platform, enhancing high-throughput, quantitative, and multiplexed proteomics. Their diverse portfolio also includes the OptoSelect® chips and the newly introduced Opto® Memory B Discovery Human workflow, which significantly expands antibody discovery capabilities.
PhenomeX has established strategic partnerships with top-tier pharmaceutical companies and comprehensive cancer centers globally. The company is also actively expanding its commercial operations and geographic presence, particularly in key Asian markets. Despite facing ongoing litigation concerning its Beacon platform, PhenomeX remains confident in the uniqueness and value of its patented technology.
Recent financial performance reveals a mixed outcome with a revenue of $14.1 million for the second quarter of 2023, reflecting a decrease in gross margin primarily due to increased inventory reserves and amortization expenses. However, the company maintains a strong outlook, reiterating its revenue guidance for the full year 2023 to be in the range of $75 to $85 million.
PhenomeX is currently in a transitional phase, exploring strategic alternatives to address its capital requirements. A notable development is the tender offer by Bruker Corporation to purchase all outstanding shares of PhenomeX, which is expected to conclude by September 28, 2023. The company plans to change its name following this acquisition.
With its relentless focus on advancing human health through functional cell biology, PhenomeX is poised to remain a leader in the life sciences sector, continuously driving innovations that improve disease prevention and treatment.
On April 17, 2023, PhenomeX (Nasdaq: CELL) unveiled its new Opto® T Cell Profiling workflow, designed to enhance the characterization of T cells for immunotherapy development. This innovative technology allows for the comprehensive profiling of single T cells, linking their polyfunctionality with cytotoxicity, which is crucial for identifying potent anti-tumor agents. The Optofluidic Platforms utilize opto-electropositioning to isolate T cells in NanoPen chambers, facilitating advanced assays that enable researchers to correlate cytokine secretion and gene sequences. The company showcased these advancements at the AACR Annual Meeting 2023 in Orlando, Florida, highlighting their commitment to revolutionizing cancer research. The new workflow promises to empower scientists with deeper insights into cell function, significantly impacting the future of immunotherapy.
PhenomeX (Nasdaq: CELL) announced the appointment of Peter Silvester to its board of directors, effective immediately. Silvester, who has over 25 years of experience in the life sciences industry, previously served as senior vice president and president of Life Sciences Solutions for Thermo Fisher Scientific. His expertise spans critical areas such as mergers and acquisitions, commercial operations, and finance.
CEO Siddhartha Kadia emphasized that Silvester's extensive knowledge and insights will be pivotal as PhenomeX seeks to lead in functional cell biology. Silvester will sit on the Audit and Compensation & Leadership Development Committees. His addition comes at a significant time for PhenomeX, which aims to empower scientists and enhance disease treatment through innovative solutions.
PhenomeX Inc. (Nasdaq: CELL) announced its participation in the AACR Annual Meeting 2023 from April 14-19 in Orlando, Florida. The conference focuses on advancements in cancer science and medicine, highlighting the theme "Advancing the Frontiers of Cancer Science and Medicine." PhenomeX, formed from the merger of Isoplexis and Berkeley Lights (Nasdaq: BLI), will showcase its IsoSpark and Beacon® optofluidic platform technologies at booth #3444. Attendees can see demonstrations and learn about applications that provide insights into cell function relevant to scientific discovery, bioprocessing, and clinical research. Additionally, PhenomeX technologies will feature in nine poster presentations covering various cancer research topics.
PhenomeX (Nasdaq: CELL) has appointed Dr. Yan Zhang as Chief Commercial Officer, effective immediately, to enhance its global commercial strategy. Dr. Zhang, with nearly 25 years in the life sciences industry and experience from Mission Bio and Thermo Fisher Scientific, will lead the expanded commercial organization following the merger of Berkeley Lights and IsoPlexis. Additionally, Tomoya Aoyama will manage commercial operations in the APAC region. Both leaders are expected to drive strategic growth and strengthen the company's market presence in a key growth area. This leadership change aligns with PhenomeX’s goal of advancing cell biology and therapeutics.
Berkeley Lights, Inc. has completed its acquisition of IsoPlexis Corporation, leading to the formation of PhenomeX. Trading under the ticker CELL, this newly merged entity aims to be a leader in life sciences solutions. The merger is expected to deliver $70 million in cost synergies and boost profitability as it targets a growing market for functional cell biology. In 2022, the combined revenue was approximately $95 million, with a significant installed base of instruments in major pharmaceutical companies and cancer centers. Share distribution post-merger shows Berkeley Lights shareholders owning roughly 75.2% of PhenomeX.
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