Welcome to our dedicated page for Illumina news (Ticker: ILMN), a resource for investors and traders seeking the latest updates and insights on Illumina stock.
Illumina, Inc. (NASDAQ: ILMN) is at the forefront of genomic technology, providing innovative tools and services to analyze genetic material. With a primary focus on DNA sequencing and array-based technologies, Illumina serves a diverse range of markets including life sciences, oncology, reproductive health, and agriculture. Over 90% of its revenue stems from sequencing instruments, consumables, and services, with the remainder coming from microarrays used in genetic screening for consumer and agricultural applications. Illumina's technology enables high-throughput whole genome sequencing, which is essential for large-scale genomic studies, as well as lower throughput tools for specific applications such as viral and cancer tumor screening.
Recent advancements at Illumina include the upcoming release of their first quarter 2024 financial results, showcasing significant improvements in both gross and non-GAAP operating margins. The company's innovative solutions continue to drive sequencing activity globally, despite challenging economic conditions. Illumina's NovaSeq X Sequencing System exemplifies their cutting-edge research and development efforts, demonstrating the company's commitment to delivering superior technology for genomic analysis.
In the oncology domain, Illumina's Whole-Genome Sequencing (WGS) and Comprehensive Genomic Profiling (CGP) are setting new standards for cancer diagnostics and treatment. By collaborating with leading institutions and pharmaceutical companies, Illumina is enhancing the scientific understanding of cancer biology and developing advanced assays for Molecular Residual Disease (MRD) detection. These efforts are crucial in precision oncology, enabling early detection and personalized treatment strategies.
Illumina is also committed to expanding access to genomic testing. Through initiatives like The Future Is Bright and partnerships with educational institutions, the company is fostering the next generation of scientists. Their volunteer programs and educational outreach aim to increase genomic literacy and inspire students to pursue careers in STEM fields.
Furthermore, Illumina's ongoing collaboration with GRAIL, Inc., a wholly-owned subsidiary focused on early cancer detection, highlights the company's dedication to transformative healthcare solutions. Despite regulatory challenges, Illumina remains steadfast in its mission to unlock the power of the genome and improve human health.
Stay updated with Illumina's latest developments and financial performance by visiting their website and connecting on social media platforms like X (Twitter), Facebook, LinkedIn, Instagram, TikTok, and YouTube.
Illumina announced the upcoming release of TruSight Oncology 500 v2 (TSO 500 v2), an enhanced version of its cancer research assay for comprehensive genomic profiling, planned for mid-2025. The new version features faster turnaround time, improved coverage, and includes the Myriad Genomic Instability Score for all samples. Key improvements include 50% less packaging, 70% fewer tubes, and better usability. The assay will be compatible with multiple platforms and offer integrated data analysis through DRAGEN and other solutions. Early access feedback from UC San Diego highlights the assay's improved workflow and lower DNA/RNA input requirements.
Illumina (NASDAQ: ILMN) announced that its executives will participate in two upcoming investor conferences. The first is the Wolfe Research 2024 Healthcare Conference on November 20, 2024, featuring a fireside chat at 6:20am Pacific Time (9:20am Eastern Time). The second is the 7th Annual Evercore HealthCONx Conference on December 3, 2024, with a fireside chat at 10:20am Pacific Time (1:20pm Eastern Time).
The webcasts for these events will be available through the Investor Info section of Illumina's website at investor.illumina.com. Replays will be posted after each event and will be accessible for at least 30 days following the live broadcasts.
Illumina (ILMN) reported Q3 2024 Core revenue of $1.1 billion, down 2% year-over-year. The company posted GAAP operating margin of 68.6% and non-GAAP operating margin of 22.6%. GAAP diluted EPS was $4.03, while non-GAAP diluted EPS reached $1.14. Due to constrained macroeconomic conditions, Illumina lowered its fiscal year 2024 Core revenue guidance to decline ~3% from 2023, expecting Q4 2024 revenue of ~$1.07 billion. However, the company raised its fiscal year 2024 Core non-GAAP operating margin guidance to 21-21.5% and non-GAAP diluted EPS guidance to $4.05-$4.15.
Illumina concluded its global 'Steps Against Cancer' campaign, running from September 29 to October 27. The company served as presenting sponsor for the Making Strides Against Cancer event in San Diego on October 28, where Chief Commercial Officer Everett Cunningham spoke about the company's dedication to oncology innovation. The campaign included multiple worldwide events, from Singapore's Race Against Cancer to educational sessions in England, engaging hundreds of employees who participated in 5K walks, fundraisers, and awareness activities during Breast Cancer Awareness Month. The initiative aligns with Illumina's corporate social responsibility focus on community engagement and their commitment to advancing preventive healthcare and personalized medicine.
Illumina announced upcoming presentations of key innovations at the American Society of Human Genetics Annual Meeting. The company will showcase its new constellation mapped read technology, designed to streamline whole-genome workflows and deliver more comprehensive genomic insights. Early access will begin in first half 2025.
The company will also present updates on Illumina Protein Prep, a proteomics solution launching in early 2025 capable of identifying 9000 unique human proteins, and PIPseq V, a single-cell analysis solution. Additionally, Illumina will release 25B 100-cycle and 200-cycle kits for the NovaSeq X Series by year-end.
Population genomics programs are expanding globally as nations seek to understand their populations' genetic variations. While early studies like UK Biobank were largely Eurocentric, new initiatives are emerging worldwide to address genetic diversity gaps. Countries including Thailand, Saudi Arabia, UAE, Australia, Singapore, Turkey, and Nigeria are launching sequencing programs to gain population-specific insights and develop their genomics infrastructure.
These programs aim to drive precision medicine and economic development by creating biotech clusters, generating jobs, and attracting international talent and investment. Pharmaceutical companies are particularly interested as genomically-informed drugs are reportedly more likely to reach the market and less expensive to develop.
Illumina has unveiled its MiSeq i100 Series of sequencing systems, designed to make next-generation sequencing (NGS) more accessible. The new benchtop instruments, MiSeq i100 and MiSeq i100 Plus Systems, offer unparalleled speed and simplicity for labs.
Key features include:
- Room-temperature reagent storage and shipping
- 85% reduction in packaging waste
- Run times as fast as four hours
- Cost-effective consumables
- 18 proven end-to-end workflows across 10 applications
- Simplified operations for various experience levels
The MiSeq i100 Series builds on the legacy of the original MiSeq System, incorporating technology from the NovaSeq X Series. It offers flexible output capabilities, with the MiSeq i100 Plus System providing 100 million single-end reads per run, and the MiSeq i100 System offering 25 million.
Early access testing has received positive feedback from customers, highlighting the instrument's speed, flexibility, and ease of use. The MiSeq i100 will be available globally in 2025.
Illumina, Inc. (NASDAQ: ILMN) has announced that it will release its third quarter 2024 financial results after the market closes on Monday, November 4, 2024. Following the release, the company will host a conference call at 1:30 pm Pacific Time (4:30 pm Eastern Time) on the same day.
The call will feature Jacob Thaysen, PhD, Chief Executive Officer, and Ankur Dhingra, Chief Financial Officer, who will discuss the financial and operating results with analysts, investors, and other interested parties. Participants can join the teleconference through Illumina's website investor section or by dialing specific numbers for North American and international callers. The company advises connecting at least ten minutes before the scheduled start time to ensure timely access.
A replay of the conference call will be made available on Illumina's website for a minimum of 30 days following the event.
Illumina (NASDAQ: ILMN) announced that Charles "Chuck" Dadswell will step down as General Counsel and Secretary on October 3, after 11 years of service. Dadswell will remain as an advisor to CEO Jacob Thaysen and the Board of Directors through March 31, 2025. Scott Davies has been named acting General Counsel and Secretary while the company conducts a search for Dadswell's permanent successor.
Dadswell joined Illumina in 2013 and recently oversaw the company's successful challenge in the European Court of Justice regarding the European Commission's jurisdiction over Illumina's acquisition of GRAIL. CEO Jacob Thaysen praised Dadswell's contributions to Illumina's industry leadership. Scott Davies, who joined Illumina in 2009, most recently served as Vice President, Legal – Chief Corporate Counsel and Assistant Secretary.
Illumina's Singapore team participated in the annual Relay for Life Charity Run for the Singapore Cancer Society (SCS), raising US $4940 to support cancer programs. In 2023, over 70% of Illumina employees in Singapore participated in giving and volunteering activities, contributing $122,000 to various charities. The team focused on key causes, including SCS and the Children's Cancer Foundation (CCF).
Illumina's support for SCS included donations, volunteer hours, and funding for programs like empowerHER and Return to Role. Employees also participated in the Hair for Hope campaign for CCF, raising over $60,000. In total, Illumina and its employees donated more than $350,000 to various causes in Singapore and contributed over 4400 volunteer hours in 2023.
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