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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 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.
Standard BioTools Inc. announced its first quarter 2024 financial results, showcasing strong revenue growth, operating expense synergies, and a path to cash flow positivity by 2026. The company reported pro forma combined revenue of $46.2 million, gross margin of 49.2%, and operating expense reductions. With a cash balance of $464 million, Standard BioTools is on track to achieve its long-term growth initiatives.
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