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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

Madryn Asset Management Demands SomaLogic’s Board Address Repeated, Unprecedented Adjournments of Tainted Special Meeting

Rhea-AI Summary
Madryn Asset Management, LP (Madryn) demands SomaLogic, Inc. (Nasdaq: SLGC) to answer key questions related to the repeated adjournments of the Special Meeting of Shareholders pertaining to the proposed merger with Standard BioTools Inc. (Nasdaq: LAB). Madryn believes the Board of Directors have betrayed shareholders by delaying the Special Meeting five times for a covert vote-flipping campaign. Madryn has sent a litigation hold to the SomaLogic Board and urges shareholders interested in changing their vote to contact Madryn or the firm’s proxy solicitor.
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Madryn Asset Management Addresses SomaLogic’s Apparent Failure to Obtain Requisite Shareholder Support for the Proposed Merger with Standard BioTools

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SomaLogic, Inc. (SOMA) faces challenges as fellow shareholders express concerns over the deal consideration and the company's cash assets, leading to last-minute adjournments of a special meeting.
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Boston Millennia Partners Intends to Vote Against Proposed Merger of SomaLogic With Standard BioTools

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Boston Millennia Partners (Nasdaq: BMP) opposes SomaLogic's (Nasdaq: SLGC) merger with Standard BioTools Inc.
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Madryn Asset Management Highlights Increasing Public Shareholder Opposition to Value-Destructive SomaLogic Merger and Calls on Company to Make Additional Disclosures

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Madryn Asset Management, LP (Madryn) urges shareholders to vote 'AGAINST' the proposed merger between SomaLogic, Inc. (SLGC) and Standard BioTools Inc. (LAB). Four significant shareholders, including the company founder, have openly stated their opposition to the merger, highlighting concerns about undervaluation and a flawed process. The recommendation from proxy advisory service ISS only offered 'cautionary support' for the merger, leaving room for shareholders to vote 'AGAINST' the transaction.
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Dr. Larry Gold and Dr. Jason Cleveland Issue Open Letter to SomaLogic Stockholders Opposing SomaLogic's Proposed Merger with Standard BioTools

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SomaLogic, Inc. (Nasdaq: SLGC) founders Dr. Larry Gold and Dr. Jason Cleveland express opposition to the proposed merger with Standard BioTools, Inc. (Nasdaq: LAB) in a letter to stockholders.
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SomaLogic Issues Statement Correcting Madryn Asset Management's Misleading Disclosure

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SomaLogic, Inc. (Nasdaq: SLGC) responds to Madryn Asset Management's misleading press release regarding the pending merger with Standard BioTools (Nasdaq: LAB).
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Madryn Asset Management Releases Evidence That SomaLogic Ran a Flawed and Incomplete Review of Alternatives

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Madryn Asset Management, LP (Madryn) disclosed that SomaLogic, Inc. (SLGC) failed to engage with Labcorp, a leading strategic partner, before pursuing a merger with Standard BioTools. Madryn calls for a delay of the shareholder meeting due to concerns about maximizing value in the sale process.
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Madryn Asset Management Sends Letter to ISS Respectfully Requesting it Withdraw “Cautionary Support” for SomaLogic’s Value-Destructive Proposed Merger with Standard BioTools

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Madryn Asset Management, LP (Madryn) issues a letter to Institutional Shareholder Services, Inc. (ISS) expressing concerns about the proposed merger between SomaLogic, Inc. (SLGC) and Standard BioTools Inc. (LAB). The letter highlights that the merger consideration assigns no value or premium to SomaLogic's assets, representing a material discount to the company's cash. It also emphasizes that the combined entity's proforma capital structure and corporate governance would subordinate SomaLogic's existing shareholders to conflicted insiders, including hedge fund manager Eli Casdin. Madryn underscores SomaLogic's identified value catalysts and $450+ million in cash, mitigating the need for a conflict-ridden and rushed merger that harms the company's common shareholders.
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Tikvah Management Announces Intention to Vote against Somalogic’s Proposed Merger with Standard BioTools

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Tikvah Management, a significant shareholder of Somalogic (Nasdaq: SLGC), with voting rights for 5.9 million shares, intends to vote against the Company’s proposed merger with Standard BioTools Inc. (Nasdaq: LAB). Tikvah believes the proposed merger is not in the best interest of Somalogic shareholders, citing undervaluation of shares, inadequate merger process, and poor quality of Standard BioTool’s business and balance sheet.
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Madryn Asset Management Reiterates Alternative Path to SomaLogic’s Value-Destructive Proposed Merger with Standard BioTools

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Madryn Asset Management, LP (Madryn) reiterates its view that there is a viable alternative to the proposed merger between SomaLogic, Inc. (SLGC) and Standard BioTools Inc. (LAB). They believe that SomaLogic's cash position and near-term commercial opportunities mitigate the need for the merger, and they urge shareholders to vote against it.
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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