Welcome to our dedicated page for Ginkgo Bioworks Holdings news (Ticker: DNA), a resource for investors and traders seeking the latest updates and insights on Ginkgo Bioworks Holdings stock.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) is pioneering the field of synthetic biology by providing an innovative horizontal platform for cell programming. Specializing in flexible, end-to-end services, the company addresses diverse challenges across multiple sectors including food, agriculture, pharmaceuticals, industrial chemicals, and specialty chemicals. Ginkgo Bioworks is organized into two primary segments: Cell Engineering and Biosecurity, with the latter contributing the majority of the company's revenue through data analytics and related services.
One of Ginkgo Bioworks' recent highlights includes the acquisition of AgBiome's platform assets, significantly enhancing its R&D capabilities in agricultural biotechnology. This move has expanded Ginkgo's proprietary metagenomics database, creating a rich resource for AI model development. Furthermore, the company is actively engaged in partnerships to amplify its technological reach, such as its collaboration with Il Granaio delle Idee to enhance sourdough bakery strains and with GreenLab to produce brazzein, a high-intensity sweetener, on a commercial scale.
Ginkgo Bioworks is also a key player in biosecurity, developing advanced infrastructure and technologies to predict, detect, and respond to biological threats. The company's upcoming Biofab1, a fully integrated lab data center expected to open in mid-2025, is part of its strategic plan to streamline operations and achieve adjusted EBITDA breakeven by the end of 2026.
Additionally, Ginkgo's platform is making significant strides in the AI and data generation space, offering services that help clients leverage high-quality data for more effective R&D. Notably, the company recently hosted its 5th annual Ferment conference, where it showcased new products and technological advancements to a global audience.
Despite facing some financial challenges, including a need to regain compliance with NYSE listing standards due to stock price fluctuations, Ginkgo remains committed to its mission. The company continues to innovate and form strategic partnerships, such as its recent agreement with Sojitz Corporation to penetrate the Japanese market, enhancing its role in the global bioeconomy.
For more information, visit ginkgobioworks.com or follow them on social media platforms like X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), and LinkedIn.
Ginkgo Bioworks (NYSE: DNA) reported Q3 2024 financial results with total revenue of $89 million, up 61% year-over-year, including a $45 million non-cash revenue from deferred revenue release. Excluding this impact, revenue was $44 million, down 21%. Cell Engineering revenue decreased 20% to $30 million, while Biosecurity revenue fell to $14 million. The company reported a Loss from operations of $(55) million and Adjusted EBITDA of $(20) million. Ginkgo updated its 2024 guidance to $215-235 million in total revenue. The company achieved cost reductions through restructuring, estimating over $85 million in annualized savings by mid-2025.
Ginkgo Bioworks (NYSE: DNA) has successfully completed the first milestone in its partnership with Merck focused on improving biologic manufacturing. The achievement triggers a $9 million cash research milestone payment to Ginkgo. The collaboration will now proceed to its second stage, continuing efforts to enhance production processes. Ginkgo will leverage its strain engineering, high-throughput screening, and process development capabilities to support this pharmaceutical partnership.
Ginkgo Bioworks (NYSE: DNA) has scheduled its third quarter 2024 business performance presentation and Q&A session for Tuesday, November 12, 2024, at 5:30 p.m. ET, after market close. The presentation will cover results for the quarter ended September 30, 2024. Investors can access the webcast through Ginkgo's investor relations website, where a replay will also be available. Questions can be submitted beforehand via X (using #GinkgoResults) or email.
Ginkgo Bioworks (NYSE: DNA) has announced a new partnership with NOVUS International to develop advanced feed additives for the animal agriculture industry. The collaboration aims to create more efficient enzymes that can be produced cost-effectively using Ginkgo Enzyme Services. This initiative is designed to address the challenges faced by the agricultural sector, including rising feed costs and tightening margins.
The partnership focuses on improving the health and performance of livestock, particularly chickens, pigs, and cows. By leveraging Ginkgo's research innovation platform and NOVUS's animal feed application knowledge, the companies aim to bring cutting-edge technologies to market that enhance the sustainability and efficiency of animal production systems. This collaboration is expected to support producers in delivering nutritious and affordable animal products to consumers while addressing economic, environmental, and regulatory challenges.
Ginkgo Bioworks (NYSE: DNA) has launched Ginkgo Datapoints, a service designed to enhance AI model training in biology. This initiative aims to generate large, high-quality biological datasets quickly and cost-effectively. The service includes products for protein characterization and functional genomics, with the latter being the flagship offering. Ginkgo Datapoints addresses key challenges in AI model training for biology, including data availability, quality, and uniformity.
The service offers flexibility, customizability, scalability, and speed, delivering millions of data points in as little as three weeks. It leverages Ginkgo's automation and data management infrastructure to provide cost-efficient, high-quality data with volume discounts for larger datasets. Customers retain ownership of the generated data through fee-for-service pricing, making it an attractive option for various entities in the biotech and tech industries.
Ginkgo Bioworks (NYSE: DNA) has launched two new offerings to accelerate drug development, building on its partnership with Google Cloud. The first is a protein large language model (LLM) built with Google Cloud Consulting, designed to give researchers and companies insights from Ginkgo's private data. The second is a model API, allowing direct access to biological AI models.
The protein LLM, one of the first of its kind in the industry, will be available on Google Cloud's Vertex AI Model Garden. The model API is already publicly accessible on Ginkgo's website. These tools aim to streamline research pipelines, optimize lead identification, and bring medicines to market faster. Ginkgo's first model, ginkgo-AA-0-650m, is trained on over 2 billion proprietary protein sequences.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) has regained compliance with the NYSE's minimum bid price requirement. The company received confirmation on September 3, 2024, that its Class A common stock had maintained a closing bid price at or above $1.00 for the required period. This follows a 1-for-40 reverse stock split implemented on August 20, 2024, to address the previous non-compliance notification received on May 7, 2024.
Simultaneously, Ginkgo received notice that the NYSE will delist the company's public warrants due to abnormally low trading price levels. These warrants, originally issued in connection with Soaring Eagle Acquisition Corp's IPO, will be suspended from trading immediately. However, Ginkgo's Class A Common Stock will continue to trade on the NYSE under the symbol 'DNA' unaffected by this warrant delisting.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA), a leading platform for cell programming and biosecurity, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The company's Chief Financial Officer, Mark Dmytruk, is scheduled to engage in a fireside chat on Friday, September 6 at 11:30 a.m. ET. This event presents an opportunity for investors and interested parties to gain insights into Ginkgo Bioworks' financial strategies and market position. The company has stated that additional details, including a webcast link and replay of the fireside chat, will be made available on their investor relations website at https://investors.ginkgobioworks.com/events.
Ginkgo Bioworks (NYSE: DNA) reported its Q2 2024 financial results, showing a 30% decrease in total revenue to $56 million, primarily due to the expected ramp-down of K-12 testing in its Biosecurity segment. Cell Engineering revenue fell 20% to $36 million, while Biosecurity revenue was $20 million with a 41% gross profit margin. The company reported a loss from operations of $223 million, compared to $184 million in the prior year period.
Ginkgo initiated a restructuring process, including a 35% workforce reduction, aiming to achieve over $85 million in annualized cost savings by mid-2025. The company reaffirmed its 2024 outlook, expecting total revenue of $170-$190 million. Despite challenges, Ginkgo added 18 new programs and customer contracts in Q2, including its first Lab Data as a Service (LDaaS) deals with a large tech company.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) has announced a special meeting of shareholders to be held virtually on August 14, 2024, at 4:00 pm ET. The primary purpose of this meeting is to vote on permitting a reverse stock split of the company's Class A and Class B common stock. The proposed split ratio ranges from 1:20 to 1:40, with the final ratio to be determined by the Board of Directors.
Shareholders will also vote on approving Ginkgo's Amended and Restated Certificate of Incorporation, which includes updates to permit officer exculpation and remove outdated provisions. Detailed information about the meeting and voting procedures can be found in the proxy materials filed with the SEC.
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