Welcome to our dedicated page for Cytek Biosciences news (Ticker: CTKB), a resource for investors and traders seeking the latest updates and insights on Cytek Biosciences stock.
Cytek Biosciences, Inc. (CTKB) delivers advanced cell analysis solutions through its patented Full Spectrum Profiling technology, serving research institutions and biotech organizations worldwide. This page provides investors and industry professionals with direct access to official company announcements and relevant news updates.
Discover the latest developments including product innovations, financial results, strategic partnerships, and regulatory milestones. Our curated collection ensures you stay informed about CTKB’s progress in advancing high-resolution cellular analysis tools for scientific research.
Key updates cover earnings reports, technology enhancements, executive leadership changes, and market expansion initiatives. All content is sourced from verified channels to maintain accuracy and compliance with financial disclosure standards.
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Cytek Biosciences (CTKB) has launched the world's first Enhanced Small Particle (ESP™) Detection Option for its Aurora™ CS cell sorter system. This groundbreaking technology enables detection and sorting of particles as small as 70 nm, including exosomes and extracellular vesicles (EVs). The system builds on Cytek's Full Spectrum Profiling™ technology and allows seamless assay transfer from analyzer to sorter. This advancement is particularly significant for research in drug delivery, cell therapy, disease diagnostics, and vaccine delivery, enabling researchers to analyze materials previously impossible to sort.
Cytek Biosciences (CTKB) reported Q3 2024 financial results with total revenue of $51.5 million, up 7% year-over-year and 10% quarter-over-quarter. The company achieved $143.0 million in year-to-date revenue, 6% above the same period in 2023. Notable developments include the launch of SpectroPanel™ tool and expansion of installed base to 2,821 instruments. Q3 showed a net income of $0.9 million, improving from a $6.5 million loss in Q3 2023. The company maintains its 2024 revenue guidance of $203-210 million, projecting 5-9% growth. Cash position remained strong at $277.8 million, with $12.1 million used for share repurchases during Q3.
Cytek Biosciences (Nasdaq: CTKB) has announced its participation in two major investor conferences in November 2024. The company will present at the Guggenheim Inaugural Healthcare Conference in Boston on November 11 at 11:00 a.m. ET, featuring a fireside chat. Additionally, they will deliver a presentation at the UBS Global Healthcare Conference in Rancho Palos Verdes on November 13 at 4:15 p.m. PT. Both presentations will be accessible via live and archived webcasts on the company's investor relations website.
Cytek Biosciences (Nasdaq: CTKB) has announced it will release its third quarter 2024 financial results after market close on Tuesday, November 5, 2024. The company will host a conference call and webcast at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on the same day to discuss results, business developments, and outlook. The webcast will be accessible through the Investors section of Cytek's website.
Cytek Biosciences (Nasdaq: CTKB) is set to showcase its Full Spectrum Profiling™ (FSP™) technology at two major clinical conferences: the European Society for Clinical Cell Analysis (ESCCA) 2024 Conference in September and the 39th International Clinical Cytometry (ICCS) Meeting & Course in October. At ESCCA, Dr. Nicholas McCarthy will lead a symposium on streamlining AML-MRD analysis using a 21-color antibody panel for the Cytek® Northern Lights™- CLC flow cytometer. At ICCS, Dr. David Ng will host a Lunch and Learn session, highlighting how spectral flow cytometry has improved efficiency in resource- laboratories, reducing reagent consumption and streamlining processes.
Cytek Biosciences (Nasdaq: CTKB) announced the resignation of its Chief Operating Officer, Chris Williams, effective September 27, 2024. Williams is leaving to accept a CEO position at another company. Instead of replacing the COO role, Cytek will restructure to create a flatter, more efficient management structure.
During his tenure, Williams played key roles in the company's growth, improving operational processes and enhancing efficiency. CEO Dr. Wenbin Jiang expressed gratitude for Williams' contributions and sees the restructuring as an opportunity to increase agility and empower teams. Williams will remain with Cytek until his departure date to ensure a smooth transition and assist with the restructuring process.
Cytek Biosciences (Nasdaq: CTKB) has achieved EN ISO 13485:2016 certification for its San Diego reagent manufacturing facility. This certification, which covers design, development, manufacturing, and distribution of reagents and accessories, demonstrates Cytek's commitment to quality standards in the medical device industry. The company's facilities in Wuxi, China, and Fremont, California, are also ISO 13485 certified.
The certification is a important step towards Cytek's entry into the U.S. clinical market. It encompasses the company's cFluor®, Guava®, Muse®, and Tonbo™ reagents, which are tailored for flow cytometry applications. Chris Williams, COO of Cytek, emphasized that this achievement sets the foundation for market expansion and reassures customers of the company's commitment to high-quality products.
Cytek Biosciences (Nasdaq: CTKB), a leading cell analysis solutions company, has announced its participation in three upcoming investor conferences:
1. UBS Genomic Medicine Summit in Dana Point, CA on August 14, 2024. Cytek will join a panel discussion titled 'Expanding Horizons - Spatial and Beyond' at 2:00 p.m. PT / 5:00 p.m. ET.
2. Wells Fargo Healthcare Conference in Boston, MA on September 4-5, 2024. The company will participate in investor 1x1 meetings.
3. Morgan Stanley 22nd Annual Global Healthcare Conference in New York, NY on September 6, 2024. Cytek will participate in a fireside chat at 4:45 a.m. PT / 7:45 a.m. ET.
Live and archived webcasts of these presentations will be available on the 'Investors' section of Cytek's website at investors.cytekbio.com.
Cytek Biosciences (Nasdaq: CTKB) reported Q2 2024 financial results with total revenue of $46.6 million, a 4% sequential increase but a 6% year-over-year decrease. The company faced weakness in U.S. instrument sales, particularly among academic and government customers, offset by strong growth in EMEA and APAC regions. Cytek's installed base reached 2,656 instruments, adding 147 units in Q2. The company reported a net loss of $10.4 million and adjusted EBITDA of $2.9 million. Cytek narrowed its 2024 revenue guidance to $203-$210 million, representing 5-9% growth over 2023. The company expects a single-digit million net loss for 2024 but anticipates positive cash flow from operations.
Cytek Biosciences (Nasdaq: CTKB) has introduced the SpectroPanel™ tool, a revolutionary intelligent algorithm that automates panel design within its Cytek® Cloud digital ecosystem. This new feature expands the capabilities of the Panel Builder tool, optimizing it for Cytek's Full Spectrum Profiling™ (FSP™) technology. The SpectroPanel tool can suggest optimized panels in minutes, automating the assignment of fluorochromes to markers and significantly reducing the time and effort required for panel design.
Cytek Cloud, with over 11,000 users, offers a suite of integrated online software tools that streamline workflows for full spectrum flow cytometry research. It supports various applications, including immunology, oncology, and infectious diseases. The addition of the SpectroPanel tool is expected to increase adoption of FSP-based instruments across the industry by simplifying the complex process of panel design.
