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Overview
Standard BioTools Inc. (Nasdaq: LAB), previously known as Fluidigm Corporation, is a company specializing in the development, manufacturing, and commercialization of advanced biomedical research tools. The company focuses on delivering next-generation technologies that enable researchers to accelerate the discovery and development of new medicines through robust and repeatable insights in health and disease.
Core Technologies and Solutions
At the heart of Standard BioTools’ offerings are its proprietary mass cytometry and microfluidics platforms. These technologies empower biomedical scientists by providing high-throughput, automated, and precision-driven analytical solutions. The company's instruments and assays are designed to process small sample volumes with exceptional sensitivity, facilitating thousands of biochemical measurements in parallel. This capability is critical for applications in proteomics and genomics, where reproducible and precise data is essential for understanding complex biological systems.
Business Segments and Market Focus
The company is organized into key segments, notably the Proteomics and Genomics divisions. While its Proteomics segment remains a prominent revenue generator, the Genomics segment extends the utility of its technology to provide comprehensive insights into gene expression and molecular biology. Standard BioTools serves a diverse range of customers, including academic institutions, government laboratories, pharmaceutical and biotechnology companies, and clinical research organizations. This broad customer base reflects its commitment to supporting the most pressing needs in translational and clinical research.
Operational Excellence and Innovation
Standard BioTools is recognized for its emphasis on operational excellence and continuous innovation. The company leverages automation and streamlined workflows—such as advanced slide loaders and integrated software solutions—to reduce operational costs while enhancing throughput and data quality. These innovations not only simplify complex assay procedures but also ensure that researchers can obtain reliable, reproducible data efficiently.
Industry Impact and Competitive Landscape
In an increasingly competitive landscape, Standard BioTools differentiates itself through its comprehensive suite of standardized tools and its ability to execute high-content proteomics and spatial biology applications. Its technologies enable researchers to uncover detailed biomarker profiles with minimal sample requirements, which is particularly valuable in complex disease research. The company’s integrated customer solutions and emphasis on operational efficiency allow it to stand apart from competitors by providing a robust platform that addresses both academic and commercial research challenges.
Research Applications and Customer Benefits
The offerings from Standard BioTools facilitate a wide array of research applications such as oncology, immunology, and immunotherapy. By delivering tools that generate high-quality data, the company empowers customers to translate scientific discoveries into improved patient outcomes. Its platforms enable comprehensive protein and gene analysis, aiding in tasks from early-stage biomarker discovery to detailed mechanism-of-action studies in clinical trials. This positions Standard BioTools as a critical partner in the pursuit of innovative therapies and transformative breakthroughs in human health.
Commitment to Quality and Repeatability
Quality and repeatability are central to Standard BioTools’ mission. The company’s technologies are designed with precision and consistency in mind, supporting rigorous scientific inquiry and reducing the margin for error in high-stakes research environments. By adhering to the highest standards of data integrity, Standard BioTools builds trust within the scientific community and drives sustained value for its stakeholders.
Conclusion
Standard BioTools Inc. is a key player in the life sciences tools industry, offering innovative, high-throughput solutions that empower biomedical researchers worldwide. Its advanced platforms and steadfast commitment to quality provide a competitive edge in a dynamic market, supporting the global pursuit of improved health outcomes through faster and better medicine development.
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.
Standard BioTools Inc. (Nasdaq: LAB) has announced its upcoming second quarter 2024 financial results conference call and webcast, scheduled for July 31, 2024. The company will release its financial results after market close, followed by a management-hosted conference call and webcast at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors and interested parties can access the call via phone or listen to the live audio webcast online. The event aims to discuss the Q2 2024 financial performance and operational progress of Standard BioTools.
Standard BioTools announced the acquisition of the Carterra LSAXT system to enhance the validation of its SomaScan Platform. This high-throughput proteomics technology will benefit researchers by providing detailed information on protein binding and biomarker characterization.
By analyzing the kinetic properties of SOMAmer Reagents, the LSAXT system aims to improve the quality of the SomaScan 11K Assay reagents and support future content expansion. This collaboration will accelerate data delivery and offer greater validation for Standard BioTools' customers.
The LSAXT system is chosen for its efficiency in delivering extensive data rapidly, enabling precise identification of binding sites and aiding in the discovery of new biomarkers and diagnostic tests.
Standard BioTools announced participation in several investor conferences in June 2024. The schedule includes:
- Jefferies Global Healthcare Conference on June 5th & 6th, where CEO Michael Egholm will join a fireside chat on June 5th at 2:30 p.m. ET.
- Scotiabank Healthcare 1x1 Day on June 20th, featuring 1x1 investor meetings in Toronto, Canada.
- TD Cowen’s 3rd Annual Tool/Dx Revolution Conference from June 24th to 26th, with CEO Michael Egholm participating in a panel discussion on M&A consolidation on June 25th at 11:50 a.m. PT.
Presentations will be webcast live on the company's Investor Relations page.
Standard BioTools announced the grant of 207,832 restricted stock units (RSUs) under its 2022 Inducement Equity Incentive Plan, effective May 20, 2024. This grant serves as an inducement for a new employee and complies with Nasdaq Listing Rule 5635(c)(4).
The RSUs will vest initially on May 20, 2025, with 1/4th of the shares vesting on this date. Following this, 1/16th of the shares will vest every three months, contingent upon the employee's continued service.
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