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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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 (Nasdaq: CTKB) has announced a strategic partnership with Bio-Rad Laboratories to enhance its flow cytometry systems. This collaboration introduces Bio-Rad's StarBright™ Dyes, which are known for their superior brightness and stability. These dyes will be utilized to develop reagents that support high-parameter applications on Cytek's Aurora and Northern Lights™ systems. The partnership aims to improve multiparameter analysis capabilities, allowing researchers to design better panels. Cytek plans to optimize single vial reagents and multicolor panels for over 1,500 Full Spectrum Profiling™ instruments deployed worldwide.
Cytek Biosciences (Nasdaq: CTKB) announced its participation in upcoming investor conferences, starting with the 2023 BTIG MedTech Conference from February 14-16 in Snowbird, UT, where management will engage in one-on-one meetings with investors. Additionally, Cytek will be at the Cowen 43rd Annual Health Care Conference in Boston, MA, presenting a fireside chat and Q&A on March 8 at 12:50 p.m. ET. The company specializes in innovative cell analysis solutions powered by its patented Full Spectrum Profiling™ technology, which enhances precision in multiplexing analysis. More details are available on Cytek's website.
Cytek Biosciences (Nasdaq: CTKB) launched Cytek Cloud, a cloud-based platform aimed at enhancing flow cytometry workflows. This integrated solution consolidates spectral panel design tools, streamlining experiments pre-instrument use. It accelerates insights across various applications like immunology and oncology. Cytek's CEO, Dr. Wenbin Jiang, emphasized the commitment to redefining flow cytometry possibilities. Future enhancements for data management and analysis are planned. Cytek's technology enables high-resolution cellular analysis, enhancing researchers' capabilities in understanding biological systems.
Cytek Biosciences reported third quarter 2022 revenue of $40.5 million, an 18% year-over-year increase. Gross profit rose 26% to $26.9 million, achieving a gross profit margin of 66.4%. Net income improved to $1.6 million, with adjusted EBITDA reaching $7.3 million. The company expanded its installed base to 1,501 instruments, despite facing sales timing issues and currency headwinds. Cytek maintains its 2022 revenue outlook, estimating full-year figures between $160 million and $168 million.
Cytek Biosciences (Nasdaq: CTKB) has appointed Chris Williams as Chief Operating Officer to enhance operations and scalability. Williams aims to drive global operations, leveraging his experience from Thermo Fisher and Bayer Pharmaceuticals. His focus will be on cellular biology and supporting Cytek's growth in new markets. This strategic leadership change is positioned to optimize efficiency as Cytek targets larger markets. Williams holds a Mechanical Engineering degree from the University of Texas at Austin and brings extensive industry expertise.
Cytek Biosciences (Nasdaq: CTKB) announced it will release its financial results for Q3 2022 after market close on November 9, 2022. A conference call will take place at 1:30 PM PT / 4:30 PM ET to discuss the results and future outlook. Cytek is a leader in cell analysis solutions, noted for its Full Spectrum Profiling™ technology, which enhances multiplexing precision and sensitivity in cell analysis. Products include the Aurora and Northern Lights™ systems and related reagents. While certain products are available for clinical use in specific regions, others are solely for research purposes.
Cytek Biosciences (Nasdaq: CTKB) will participate in the 31st Annual Credit Suisse Healthcare Conference on November 9th, presenting at 3:50 PM PT / 6:50 PM ET. The presentation will be accessible via a live and archived webcast on the company’s website. Cytek specializes in cell analysis solutions through its innovative Full Spectrum Profiling™ technology, enhancing cell analysis precision and sensitivity. Products are primarily for research use, with some clinical use in approved regions. For more, visit cytekbio.com.
Cytek Biosciences (Nasdaq: CTKB) announced its participation in the 20th Annual Morgan Stanley Global Healthcare Conference on September 14, 2022, at 11:45 a.m. ET. A live webcast will be available on its website for interested parties. Cytek is a leader in cell analysis solutions, utilizing its patented Full Spectrum Profiling™ (FSP™) technology for advanced cell analysis tools. Its product lineup includes the Aurora and Northern Lights systems and a comprehensive suite of reagents, software, and services.
Cytek Biosciences (Nasdaq: CTKB) reported a strong second quarter for 2022, with total revenue reaching $40.2 million, a 32% increase from the previous year.
The gross profit stood at $24.6 million, marking a 24% rise compared to Q2 2021, although the gross profit margin decreased to 61% from 65%.
Despite operating expenses rising 60% to $25.5 million, the company expects full-year revenue to be at the higher end of $160 million to $168 million.
Cytek Biosciences, a leader in cell analysis solutions, will participate in the 42nd Annual Canaccord Genuity Global Growth Conference in Boston on August 11, 2022, at 8:00 AM PT. The event will feature a fireside chat with company management, accessible via a live and archived webcast on their website. Cytek's innovative Full Spectrum Profiling technology enhances cell analysis precision and sensitivity. Its products are primarily for research use and have received regulatory approvals in some regions. More details are available on their investor relations page.
