Welcome to our dedicated page for Standard BioTools news (Ticker: LAB), a resource for investors and traders seeking the latest updates and insights on Standard BioTools stock.
Standard BioTools Inc. (Nasdaq: LAB), formerly known as Fluidigm Corporation, is at the forefront of biomedical research technology development. The company specializes in providing innovative tools that accelerate the discovery and development of new medicines. Their core technologies include proprietary mass cytometry and microfluidics, catering to the proteomics and genomics markets respectively. With these advanced tools, Standard BioTools enables researchers to gain deep insights into health and disease, facilitating breakthroughs in areas such as oncology, immunology, and immunotherapy.
Headquartered in South San Francisco, Standard BioTools operates globally, serving academic, governmental, pharmaceutical, biotechnology, and clinical laboratories. The company’s products are designed to improve experimental workflows, increase throughput, and reduce costs while maintaining high data quality. Their offerings include sophisticated instruments, software, integrated fluidic circuits (IFCs), high-performance assays for gene expression and genotyping, and next-generation sequencing primers.
In recent developments, Standard BioTools has entered a multi-year collaboration with Bristol Myers Squibb to utilize the SomaScan® Platform in clinical trials, enhancing drug development processes in therapeutic areas like immunology and cardiovascular diseases. Additionally, the company has enhanced its spatial biology capabilities with the launch of the Hyperion™ XTi system, which offers rapid and detailed tissue imaging modes.
Financially, Standard BioTools is focused on operational excellence and disciplined M&A strategies to drive profitable growth. Recent restructuring efforts are projected to save $45-50 million in operational expenses annually by 2025, positioning the company for long-term sustainable growth. The issuance of new common stock shares has also streamlined the company’s capital structure, making it more attractive to investors and potential M&A partners.
Overall, Standard BioTools is committed to providing reliable and repeatable insights that transform scientific discoveries into better patient outcomes, thus playing a crucial role in advancing human health.
Standard BioTools (Nasdaq: LAB) has appointed Alex Kim as Chief Financial Officer, effective November 11, 2024. Kim, a co-founder and former Chief Operating Officer of Standard BioTools, brings nearly 30 years of healthcare and life sciences industry experience. Previously, he served as President of Milliken's Healthcare Division and held leadership positions at Pall and Danaher Throughout his career, Kim has completed over 40 transactions in healthcare, medical technology, and life sciences sectors. Concurrent with Kim's appointment, Jonathan Mickelsen has been promoted to Vice President & Chief Accounting Officer.
Standard BioTools (NASDAQ: LAB) has announced its management team's participation in two major investor conferences in November 2024. President and CEO Michael Egholm, PhD, will deliver corporate presentations at the UBS Global Healthcare Conference on November 12 at 1:15 p.m. PT and at the Jefferies London Healthcare Conference on November 19 at 8:30 a.m. GMT. The presentations will be webcast live on the company's Investor Relations page, with recordings archived at investors.standardbio.com.
Standard BioTools (NASDAQ: LAB) reported Q3 2024 revenue of $45 million, down 5% year-over-year. The company achieved a 50% adjusted EBITDA improvement and 35% net loss improvement year-over-year. Key financial metrics include: consumables revenue up 13%, instruments revenue down 42%, and services revenue flat. The company maintains $368 million in cash and investments. Operating expenses decreased 18.5% to $55 million, while net loss improved to $26.9 million. The company has operationalized $80 million in merger synergies, expected to be fully realized in 2025, and reaffirmed FY2024 revenue guidance of $170-175 million.
Standard BioTools Inc. (NASDAQ: LAB) has announced its plans to report third quarter 2024 financial results on Wednesday, October 30, 2024, after market close. The company will host a conference call and webcast at 1:30 p.m. PT, 4:30 p.m. ET on the same day to discuss the results and operational progress.
Interested individuals can join the call by dialing (888) 346-3970 for US domestic callers or (412) 902-4297 for international callers. A live audio webcast will be available on the company's Investor Relations page. The webcast will be archived for future access on Standard BioTools' Investor Relations page at investors.standardbio.com.
Standard BioTools Inc. (Nasdaq:LAB) has announced an expansion of its SomaScan® 11K Platform, now including protein measurements on a broader range of sample types such as cerebrospinal fluid (CSF), aqueous humor, tissue homogenates, and cell lysates. This platform provides 11,000 protein measurements simultaneously from sample volumes as low as 55 µl, covering half of the human proteome in a single assay.
The expansion supports translational medicine by advancing research in disease causation, clinical pharmacology, and drug development. The platform's high precision, with a median coefficient of variation around 5%, offers more statistical power for discoveries. This update is particularly beneficial for oncology and neurology research, allowing matched samples to plasma in various sample types.
Services for these new sample types are available from Standard BioTools' CAP/CLIA-certified Services Lab in Boulder, Colorado, and from SomaScan® Authorized Sites globally.
Standard BioTools Inc. (Nasdaq:LAB) announced a study published in Nature Scientific Reports that utilized their SomaScan® Assay and SomaSignal™ tests to analyze blood serum samples from patients in a Phase 2a clinical trial for nonalcoholic fatty liver disease (NAFLD) and nonalcoholic steatohepatitis (NASH). The study identified 69 blood biomarkers correlating with clinical measures of liver disease.
Researchers used the 7,000-protein biomarker panel to infer liver biopsy effects and identify additional mechanistic pharmacodynamic protein biomarkers. The SomaSignal tests helped stratify patients by disease severity, establish pre-treatment baselines, and monitor drug effects. The study demonstrated the utility of these tests for NASH classification and treatment-induced effects on steatosis.
Standard BioTools Inc. (Nasdaq:LAB) has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York City. The company's President and CEO, Michael Egholm, PhD, will present at a fireside chat on Friday, September 6, 2024, at 8:30 a.m. ET.
The presentation will be webcast live on the company's Investor Relations page under Events & Presentations. A recording of the webcast will also be archived and available for later viewing at investors.standardbio.com. This conference, running from September 4th to 6th, provides Standard BioTools with an opportunity to showcase its developments and engage with industry professionals and investors.
Standard BioTools Inc. (Nasdaq:LAB) has announced its management team's participation in two upcoming investor conferences in August 2024. The events are:
1. Canaccord Genuity 44th Annual Growth Conference on August 13th, where President and CEO Michael Egholm, PhD, will participate in a fireside chat at 9:00 a.m. ET.
2. UBS Genomic Medicine Summit on August 14th, where Dr. Egholm will join a panel discussion titled 'Expanding Horizons - Spatial and Beyond' at 2:00 p.m. PT.
Available presentations will be webcast live on the company's Investor Relations page. Recordings will be archived and accessible at investors.standardbio.com.
Standard BioTools (Nasdaq: LAB) announced key leadership changes. Jeffrey Black, CFO, will resign on August 31, 2024. Alex Kim, COO and co-founder, will serve as interim CFO starting September 1, 2024. Sean Mackay, recently appointed Chief Business Officer, will expand his role to include product management, marketing, and investor relations. Mackay, former CEO of IsoPlexis, brings experience in funding rounds and IPOs. CEO Michael Egholm expressed confidence in Kim's ability to lead as interim CFO and welcomed Mackay's expanded role. The company has initiated a search for a permanent CFO. These changes come as Standard BioTools prepares for its next growth phase, with the leadership team focused on executing the company's strategic plan.
Standard BioTools (NASDAQ: LAB) reported Q2 2024 financial results with revenue of $37.2 million, up 34% year-over-year. The company revised its FY2024 revenue guidance to $170-175 million and remains on track for break-even adjusted EBITDA in 2026. Key highlights include:
- Accelerated merger synergies with $80 million expected to be operationalized in 2024
- Current balance sheet of $396 million in cash and investments
- Q2 gross margin of 40.1% and non-GAAP gross margin of 45.0%
- Q2 operating loss of $50.5 million and net loss of $45.7 million
- Adjusted EBITDA loss of $31.0 million in Q2
The company faced challenges with SomaScan® services contract delays and instrument sales impacted by a constrained capital purchase environment. Standard BioTools remains focused on cost structure optimization and executing its strategic vision.
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