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. (Nasdaq: CTKB) is a pioneering life sciences technology company dedicated to revolutionizing cell analysis. Headquartered in Fremont, California, Cytek is at the forefront of developing cutting-edge solutions that advance the next generation of cell analysis tools. The company's core instruments, the Cytek Aurora™ and Northern Lights™ systems, are the first full-spectrum flow cytometers capable of delivering high-resolution, high-content, and high-sensitivity cell analysis. These instruments utilize the full spectrum of fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells.
Cytek's patented Full Spectrum Profiling™ (FSP™) technology addresses the inherent limitations of other technologies by providing a higher density of information with greater sensitivity, more flexibility, and increased efficiency — all at a lower cost. The company's product portfolio also includes the Cytek Aurora™ CS cell sorter and the Amnis® and Guava® brands' flow cytometer and imaging products. In addition, Cytek offers reagents, software, and services to provide a comprehensive and integrated suite of solutions for its customers.
Cytek generates a majority of its revenue from the United States and is expanding its presence globally with offices and distribution channels across the world. The company expects its full-year revenue for 2023 to be near the high end of its most recent revenue guidance range of $188 million to $192 million. Cytek's innovative approach and robust product lineup position it as a leader in the cell analysis market, with a strong focus on driving strategic growth and long-term profitability.
In January 2024, Cytek will participate in the 42nd Annual J.P. Morgan Healthcare Conference, where it will present its progress and future plans. The company continues to deliver strong financial performance, with fourth-quarter 2023 revenue at $58.6 million, a 21% increase over the previous year. Cytek's CEO, Dr. Wenbin Jiang, highlighted the company's agility and effective execution of its business strategy amidst challenging macro-economic conditions. Looking ahead to 2024, Cytek aims to achieve total revenue between $203 million to $213 million, representing growth of 5% to 10% over the previous year.
More information about Cytek and its products is available at www.cytekbio.com. The company actively uses its website, LinkedIn page, and X (formerly Twitter) account to distribute information about its products, financial announcements, and conference participation. Investors are encouraged to monitor these channels for material information and updates.
Cytek Biosciences has announced the availability of its CE-IVD-certified cFluor reagents for clinical diagnostics across Europe. This certification allows Cytek to expand its market presence and offer total cell analysis solutions in hospitals and laboratories. The reagents are produced under rigorous quality controls and validated for optimal performance with Cytek's advanced cell analysis systems. CEO Dr. Wenbin Jiang emphasized the significance of this milestone, indicating a commitment to enhancing diagnostic capabilities across the region.
Cytek Biosciences reported a strong first quarter for 2022, with total revenue reaching $35.1 million, marking a 44% increase year-over-year. The installed base grew to 1,226 instruments after placing 116 instruments in the quarter. Gross profit also rose to $20.2 million, though the gross profit margin slipped to 58% from 60% in 2021. Operating expenses climbed to $22.5 million, leading to a $2.4 million loss from operations. The company forecasts full-year revenue at the high end of $160 million to $168 million.
Cytek Biosciences (Nasdaq: CTKB) will report its Q1 2022 financial results after market close on May 11, 2022. Following the earnings announcement, management will host a webcast conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results, business developments, and future outlook. Cytek is known for its Full Spectrum Profiling™ technology, providing advanced cell analysis solutions.
Cytek Biosciences announces the appointment of Todd Garland as Chief Commercial Officer, effective immediately. Garland, with extensive experience in the life sciences sector, previously held leadership roles at BD Biosciences, CareFusion, and Cardinal Health. His expertise is expected to enhance Cytek's growth and customer service capabilities centered around their Full Spectrum Profiling™ (FSP™) technology. Dr. Wenbin Jiang, CEO, believes Garland's leadership will be pivotal in executing growth opportunities and fortifying the organization’s market position in cell analysis.
Cytek Biosciences reported a 38% revenue growth for 2021, totaling $128 million. In Q4, revenue reached $38.9 million, a 27% increase from 2020. Although gross profit increased to $79.1 million for the year, operating expenses surged by 84% to $70 million, resulting in a decrease in income from operations. Net income fell to $4.4 million for 2021. The company plans for 2022 revenue between $160 million and $168 million and has expanded its manufacturing capacity significantly.
FREMONT, Calif., Feb. 16, 2022 – Cytek Biosciences (Nasdaq: CTKB) announces its participation in the 42nd Annual Cowen Health Care Conference. Management will engage in a fireside chat on March 9th at 8:10 a.m. PT / 11:10 a.m. ET. Interested participants can access the live and archived webcast via the Investors section of Cytek's website.
Cytek is a leader in cell analysis solutions, utilizing its Full Spectrum Profiling™ technology for high-resolution and high-sensitivity analysis. Its platform includes the Aurora and Northern Lights™ systems, and products are primarily for research use.
Cytek Biosciences (CTKB) will announce its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. A conference call, scheduled for 2:00 p.m. Pacific Time, will discuss the results and future outlook. Cytek is known for its Full Spectrum Profiling™ (FSP™) technology, enhancing cell analysis with high-resolution and sensitivity. The Aurora and Northern Lights systems are central to Cytek’s offerings. Note that most products are for research use only, except for Northern Lights CLC, which is cleared for clinical use in China and the EU.
Cytek Biosciences, Inc. (Nasdaq: CTKB) has opened a new 100,000 square-foot facility in Fremont, California, tripling its manufacturing capacity to accommodate rising global demand for cell analysis solutions. The facility became operational in October 2021 and supports the company's commitment to advancing cell analysis technology. Cytek aims to enhance its offering of integrated solutions, leveraging its patented Full Spectrum Profiling™ (FSP™) technology. With over 1,000 instruments installed across 40 countries, Cytek continues to innovate in the life sciences sector.
Amberstone Biosciences has successfully completed a $12 million Series A financing round, led by Viva BioInnovator, Co-win Ventures, and Sinovation Ventures, among others. The funds will be utilized to advance their tumor microenvironment activated therapeutic programs to the investigational new drug application (IND) enabling stage. CEO George Wu expressed gratitude for investor support, emphasizing their goal of developing safer and more effective therapies for cancer patients.
Cytek Biosciences (Nasdaq: CTKB) celebrated a major milestone by shipping its 1,000th cell analysis system, highlighting global adoption across 35 countries since launching in 2017. The company has expanded its product range with new high-dimensional sorters and immunoprofiling kits, enhancing research capabilities in immunology and oncology. Cytek's growth is supported by new offices in the US and Europe, following its IPO in July 2021. The company emphasizes its commitment to advancing flow cytometry technology for improved patient outcomes.
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