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Standard BioTools Inc. - LAB STOCK NEWS

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.

News

Standard BioTools Announces Exchange of All Outstanding Series B Convertible Preferred Stock for Common Stock

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Standard BioTools Inc. (LAB) announces the exchange of Series B Preferred Stock for common stock with Viking Global Investors and Casdin Capital, aiming to streamline capital structure and attract new investors. The exchange resulted in the issuance of approximately 93 million shares of common stock at $2.75 per share, reducing dilution to less than 5%. The Company now has around 382.5 million shares outstanding.
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Standard BioTools Reports Fourth Quarter and Full Year 2023 Financial Results

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Standard BioTools Inc. achieved its FY2023 core financial objectives by reducing expenses and cash burn while increasing revenue and gross margins. The merger with SomaLogic strengthened the company's position in life sciences, resulting in combined pro forma revenue of $192 million and a balance sheet with $565 million in combined pro forma cash, cash equivalents, restricted cash, and short-term investments.
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Standard BioTools and Next Gen Diagnostics Announce Partnership to Provide Complete Automation of Low-Cost Pathogen Sequencing

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Standard BioTools Inc. (LAB) and Next Gen Diagnostics have signed a long-term agreement to enhance the automation of pathogen whole genome sequencing. The NGD-100, a version of Standard BioTools' Biomark X9 System, will be customized for NGD to streamline sample preparation. This collaboration aims to reduce the cost of bacterial sequencing to under $10/sample, addressing the key barriers in pathogen WGS. Standard BioTools' microfluidics technology, known for its scalability and automation, combined with NGD's advanced bioinformatics, will offer integrated pathogen sequencing services with rapid turnaround times and cost-efficiency. NGD has validated the accuracy of sequence-based diagnostics for antibiotic resistance prediction and infection transmission detection. The partnership signifies a significant advancement in Standard BioTools' growth strategy, expanding its microfluidic platform's impact in life sciences.
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Standard BioTools to Participate in Upcoming Investor Conferences

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Standard BioTools Inc. (Nasdaq:LAB) announces participation in upcoming investor conferences to showcase breakthroughs in human health. President and CEO, Michael Egholm, PhD, to present at TD Cowen's 44th Annual Healthcare Conference and KeyBanc Capital Markets Life Sciences & MedTech Investor Forum.
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Standard BioTools Announces Conference Call and Webcast for Fourth Quarter and Full Year 2023 Financial Results on February 28, 2024

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Standard BioTools Inc. (LAB) will report Q4 and full year 2023 financial results on February 28, 2024. The company aims to accelerate breakthroughs in human health. A conference call and webcast will discuss the results and operational progress.
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Standard BioTools and Navignostics Announce Collaboration Agreement to Advance Imaging Capabilities in Personalized Medicine

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Standard BioTools Inc. (Nasdaq:LAB) has announced a collaboration agreement with Navignostics AG to develop clinical research applications and service offerings using the Hyperion XTi™ Imaging System. This collaboration aims to expand access to high-quality data in clinical research, particularly in the fight against cancer, emphasizing the need for precision medicine strategies and robust technologies that offer critical biological insights to guide treatment decisions. Navignostics, founded in 2022, is dedicated to revolutionizing personalized diagnostics for cancer patients.
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Standard BioTools Announces Preliminary Fourth Quarter and Full Year 2023 Revenue

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Standard BioTools Inc. (Nasdaq: LAB) expects fourth quarter 2023 revenue of approximately $28 million and full year 2023 revenue of approximately $106 million, representing over 10% growth in core revenue and over 40% growth in instrument revenue compared to 2022. The company completed its merger with SomaLogic, Inc., expecting pro forma full year 2023 revenue of approximately $192 million and over $550 million in cash, cash equivalents, and short-term investments as of December 31, 2023. The CEO, Michael Egholm, expressed excitement about the combined company's progress and commitment to building a scalable, profitable suite of differentiated life science tools to accelerate breakthroughs in healthcare.
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Standard BioTools Completes Merger with SomaLogic, Creating a Diversified and Scaled Leader in Life Sciences Tools

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Standard BioTools Inc. (Nasdaq: LAB) completes merger with SomaLogic, creating a leading provider of differentiated multi-omics tools for research. The combined company has a formidable capital structure comprising over $500 million in cash and cash equivalents, aiming to self-fund future growth initiatives. The company is targeting large, high growth markets with a diverse portfolio of life sciences tools and is expected to realize $80 million in annual cost synergies by 2026. Key leadership team appointments have also been made.
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Standard BioTools Stockholders Approve Merger with SomaLogic

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Standard BioTools Inc. (Nasdaq: LAB) announced that its stockholders voted to approve all proposals required for the pending merger with SomaLogic (Nasdaq: SLGC) at its Special Meeting of Stockholders. The merger is expected to close on January 5, 2024, subject to satisfaction of certain customary closing conditions. The company's President and CEO, Michael Egholm, expressed gratitude for the stockholders' support and highlighted the potential for significant shareholder value through enhanced scale and a strengthened balance sheet.
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SomaLogic Stockholders Vote to Approve Standard BioTools Transaction at Special Meeting

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SomaLogic, Inc. (Nasdaq: SLGC) announced stockholder approval for the transaction with Standard BioTools Inc. (Nasdaq: LAB), creating a diversified leader in life sciences tools. The merger is expected to close on January 5, 2024, subject to certain closing conditions.
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FAQ

What is the current stock price of Standard BioTools (LAB)?

The current stock price of Standard BioTools (LAB) is $2 as of December 20, 2024.

What is the market cap of Standard BioTools (LAB)?

The market cap of Standard BioTools (LAB) is approximately 712.9M.

What does Standard BioTools Inc. specialize in?

Standard BioTools specializes in developing and selling advanced mass cytometry and microfluidics technologies to help biomedical researchers accelerate the discovery and development of new medicines.

Where is Standard BioTools Inc. headquartered?

Standard BioTools Inc. is headquartered in South San Francisco, California.

What are the main applications of Standard BioTools' technologies?

Standard BioTools' technologies are primarily used in proteomics and genomics applications, with significant focus areas including oncology, immunology, and immunotherapy.

What recent collaborations has Standard BioTools announced?

Standard BioTools recently announced a multi-year collaboration with Bristol Myers Squibb to use the SomaScan Platform in clinical trials for various therapeutic areas.

What is the Hyperion™ XTi system?

The Hyperion™ XTi system is a new spatial biology tool launched by Standard BioTools that offers rapid and detailed tissue imaging modes, enhancing insights into disease progression and therapeutic responses.

How is Standard BioTools working towards financial sustainability?

Standard BioTools has initiated restructuring plans to save $45-50 million in operational expenses annually by 2025 and streamlined its capital structure by issuing new common stock shares.

What are the geographic markets for Standard BioTools?

Standard BioTools serves a global market, with a majority of its revenue derived from the Americas.

Who are the key customers of Standard BioTools?

Key customers include leading academic institutions, government agencies, pharmaceutical companies, biotechnology firms, and clinical laboratories worldwide.

What benefits do researchers gain from using Standard BioTools' products?

Researchers benefit from simplified experimental workflows, increased throughput, reduced costs, and high-quality data, facilitating significant breakthroughs in human health.

Can Standard BioTools' products be used for diagnostic procedures?

No, Standard BioTools products are provided for research use only and are not intended for use in diagnostic procedures.

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Standard BioTools Inc.

Nasdaq:LAB

LAB Rankings

#2808 Ranked by Market Cap
N/A Ranked by Dividends

LAB Stock Data

712.88M
365.20M
1.93%
73.33%
3.94%
Medical Devices
Laboratory Analytical Instruments
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United States of America
SOUTH SAN FRANCISCO