Welcome to our dedicated page for Harvard Bioscience news (Ticker: HBIO), a resource for investors and traders seeking the latest updates and insights on Harvard Bioscience stock.
Harvard Bioscience Inc. (NASDAQ: HBIO) is a global developer, manufacturer, and marketer of specialized products and scientific instruments that advance life science research. With a focus on enabling fundamental research, discovery, and pre-clinical testing for drug development, Harvard Bioscience serves a diverse range of customers, including pharmaceutical and biotechnology companies, universities, and government laboratories worldwide.
The company’s comprehensive product portfolio includes brands such as Harvard Apparatus, DSI, Buxco, Biochrom, BTX, Heka, Hugo Sachs, Multichannel Systems MCS GmbH, and Panlab. These products are used in various applications, from basic research to complex pre-clinical studies, and are distributed in over 100 countries through direct sales, catalogs, websites, and partnerships with renowned distributors like GE Healthcare, Thermo Fisher Scientific Inc., and VWR.
Harvard Bioscience operates manufacturing and sales facilities in the United States, the United Kingdom, Germany, and Spain, with additional sales operations in France and Canada. The company’s primary revenue stream comes from the United States, but it maintains a significant presence in North America, Europe, and China.
Recently, Harvard Bioscience has introduced several innovative solutions to enhance the efficiency and throughput of its customers’ research activities. These include the DSI™ Ponemah™ Data Management Platform with integrated solutions like SoHo™ implantable telemetry for small animal models and the VivaMARS™ high-capacity behavior monitoring system. These advancements support more natural research environments and longitudinal studies, reduce operating costs, and open opportunities for emerging machine learning algorithms to analyze large data sets efficiently.
Another significant innovation is the MCS™ Mesh MEA™ Organoid Platform, which allows researchers to capture precise electrophysiology measurements from within living organoids in real time. This platform is designed for applications in safety pharmacology and toxicology and supports the growing use of organoids in research and discovery.
Harvard Bioscience continues to focus on organizational efficiencies and aligning its global operating structure with strategic growth priorities. The recent labor force reduction aims to improve operating cost structure and support ongoing investments in growth, with expected annual run rate savings of approximately $4 million starting in the second quarter of 2024.
For more information about Harvard Bioscience and its innovative products, please visit https://www.harvardbioscience.com.
Harvard Bioscience (Nasdaq: HBIO) announced an initial order for its new high-capacity behavioral monitoring system aimed at pre-clinical applications. This order, from a large contract research organization (CRO), is set for delivery in Q4 2023. The company anticipates broader product launches in the second half of 2023, integrating its Panlab® technology with Ponemah™ pre-clinical data management software in a GLP-compliant solution.
Serge Savard, VP of Product Management, emphasized the high throughput and accuracy of the system for neuroscience assessments and drug screening. CEO Jim Green noted that this order reflects the company's commitment to advancing academic research while expanding their product line for larger customers. This development is positioned to enhance Harvard Bioscience's service offerings and market presence.
Harvard Bioscience (Nasdaq: HBIO) is set to announce its financial results for Q1 2023 on April 25, 2023, before market opening. A conference call is scheduled for 9:00 a.m. Eastern Time, allowing participants to register for questions. The financial details and accompanying slide presentation will be available in the Investor Relations section of their website. Harvard Bioscience specializes in technologies and services for life sciences applications across research and pharmaceutical development, catering to a diverse clientele from academic institutions to contract research organizations globally.
Harvard Bioscience (Nasdaq: HBIO) announced that CEO Jim Green will present at the Sidoti Virtual Investor Conference on March 22-23, 2023. He is scheduled to present on March 22 at 10:00 AM ET, and a live webcast will be accessible through their website. The presentation will also be archived for a limited time. Additionally, the company will facilitate one-on-one meetings with investors on both days.
Harvard Bioscience (Nasdaq: HBIO) announced that Jim Green, Chairman and CEO, will present at the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 21, 2023, at 9:45 AM ET. A live webcast of the presentation will be available online and archived on the company's Investor Relations webpage for a limited time. Additionally, virtual one-on-one meetings will be hosted on the same day for interested investors. Harvard Bioscience specializes in developing, manufacturing, and selling technologies for life science applications, serving clients worldwide, including top academic institutions and pharmaceutical companies.
Harvard Bioscience, Inc. (Nasdaq: HBIO) reported a Q4 2022 revenue of $28.4 million, marking a 14% decline from the previous year, impacted by $1 million in negative currency effects. Operating loss was $(0.5 million), down from a profit of $1.7 million in Q4 2021. Adjusted operating income was $3.4 million, with an adjusted operating margin of 11.9%. The company anticipates revenue growth in 2023 in the low-to-mid single digits, with improvements in gross margin and adjusted EBITDA. Plans to reduce debt to a ratio of 2 times by year-end were also noted.
Harvard Bioscience, Inc. (Nasdaq: HBIO) will release its fourth-quarter financial results for the period ending December 31, 2022, before market open on March 9, 2023. The company will also host a conference call at 8:00 a.m. Eastern Time to discuss these results. Participants wishing to ask questions during the call must register in advance to receive dial-in information. The earnings release and accompanying slide presentation will be accessible on the company's Investor Relations website. Harvard Bioscience specializes in developing technologies and products for life sciences, serving a diverse range of clients globally.
Harvard Bioscience, Inc. (Nasdaq: HBIO) announced the resignation of CFO Michael Rossi, effective December 31, 2022. Jennifer Cote, VP of global finance, will serve as interim CFO. Rossi will assist during the transition until May 10, 2023. CEO Jim Green acknowledged Rossi's key contributions to the company's strategic transformation since 2019. The company is actively searching for a permanent replacement. Harvard Bioscience develops and sells technologies for research and drug development across global markets.
Harvard Bioscience (Nasdaq: HBIO) reported Q3 2022 revenues of $26.9 million, a 9% decline year-over-year, driven by a 17% drop in pre-clinical product sales. Gross margin fell due to lower revenues and increased labor/material costs. The company anticipates Q4 revenues to reach approximately $30 million, with improved operating margins between 14%-15%. Key product launches include the Ultrospec 7500 and continuous glucose monitoring devices. Cost optimization efforts are expected to yield $4 million in annual gross margin improvements.
Harvard Bioscience (Nasdaq: HBIO) will release its third-quarter financial results for 2022, covering the period ending September 30, after market close on November 8, 2022. A conference call to discuss the results will take place at 4:30 p.m. ET the same day. Interested participants can register online for dial-in information and a unique PIN number. The earnings release and presentation materials will be accessible on the company's Investor Relations website.
Harvard Bioscience (Nasdaq: HBIO) reported Q2 2022 revenues of $29.2 million, flat year-over-year, with growth in cellular/molecular product revenues offset by declines in pre-clinical revenues and adverse currency effects. Adjusted operating income decreased to $3.1 million due to higher R&D and marketing costs. GAAP operating income rose to $4.0 million thanks to a $4.9 million litigation settlement. Looking ahead, the company anticipates 1-5% revenue growth for the year and plans to reduce its workforce by 5% as part of a strategic optimization.
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