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.
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Cytek Biosciences (Nasdaq: CTKB) announced it will release its first quarter 2023 financial results after the market closes on May 9, 2023. A conference call, starting at 1:30 PM PT / 4:30 PM ET, will follow to discuss these results along with business developments and future outlook. The call can be accessed via the company's investor webpage. Cytek specializes in cell analysis tools, leveraging its Full Spectrum Profiling™ technology to enhance precision and multiplexing. With the recent acquisition of DiaSorin’s Flow Cytometry & Imaging business unit, it added Amnis® and Guava® flow cytometers to its offerings, strengthening its product lineup. Most of Cytek's products are designated for research use only, with limited availability for clinical use in regions with regulatory approvals.
Cytek Biosciences (Nasdaq: CTKB) launched a new 20-Color Acute Myeloid Leukemia (AML) Panel, designed for efficient AML research and measurable residual disease (MRD) detection. This single-tube flow panel enhances operational efficiency by streamlining sample preparation, reducing reagent waste, and improving sensitivity. Utilizing Cytek’s Full Spectrum Profiling™ technology, it enables detailed analysis of normal and aberrant cells, offering critical support for drug discovery and clinical trials. The panel aims to aid researchers in developing life-saving therapies while conserving precious sample resources.
Cytek Biosciences (Nasdaq: CTKB) reported robust financial results for 2022, with total revenue reaching $164 million, marking a 28% year-over-year increase. The fourth quarter alone saw revenues of $48.3 million, a 24% increase from Q4 2021. Net income for the year was $2.5 million, while adjusted EBITDA stood at $21.2 million. Looking ahead, the company projects 2023 revenues between $225 million and $235 million, indicating a growth of 37% to 43% YoY, bolstered by a recent acquisition from Luminex. Despite rising operating expenses, Cytek's expanded instrument installations signify positive growth momentum.
DiaSorin and Cytek Biosciences announced the sale of substantially all assets from Luminex Corporation's Flow Cytometry & Imaging business to Cytek for approximately USD 46.5 million. This transaction, aligning with DiaSorin's strategic focus communicated to investors, is expected to enhance Cytek’s product capabilities and operational efficiency. It supports Cytek’s goals to develop new products and serve previously underserved customer segments. DiaSorin operates globally in the In Vitro Diagnostic field, emphasizing continuous investment in research and development.
DiaSorin and Cytek Biosciences have announced an agreement for Cytek to acquire substantially all assets of DiaSorin's Flow Cytometry & Imaging (FCI) business unit. This strategic transaction is expected to close within 30 days, enhancing Cytek's product offerings with advanced imaging and flow cytometry solutions. The FCI unit, which includes a network of over 7,000 installed instruments, will expand Cytek's global reach. This move aligns with DiaSorin's strategic focus on core business areas, as highlighted in their recent investor communications.
Cytek Biosciences (Nasdaq: CTKB) is set to report its financial results for Q4 and full year 2022 after market close on February 28, 2023. A conference call will follow at 1:30 PM PT to discuss results, business developments, and future outlook. Cytek is recognized for its Full Spectrum Profiling™ (FSP™) technology, enhancing cell analysis solutions through precision and sensitivity. Their products are for research use only in most markets, with some available for clinical use in approved regions. Investors should monitor Cytek's website and social media for updates and disclosures.
