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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

ISS Recommends Standard BioTools Stockholders Vote “FOR” All Proposals Relating to Proposed Merger with SomaLogic

Rhea-AI Summary
Standard BioTools Inc. (Nasdaq: LAB) has received a favorable recommendation from Institutional Shareholder Services (ISS) for its pending merger with SomaLogic. The merger is expected to accelerate profitability and strengthen the company's capital structure, providing a compelling value proposition for stockholders. The special meeting to vote on the merger is scheduled for January 4, 2024.
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Madryn Asset Management Highlights Newly-Disclosed Conflicts of Interest Related to Proposed SomaLogic Merger with Standard BioTools

Rhea-AI Summary
Madryn Asset Management, LP (Nasdaq: SLGC) comments on troubling connections and ongoing business relationships among members of SomaLogic Transaction Committee and Eli Casdin and Casdin Capital in relation to the proposed merger with Standard BioTools Inc. The additional disclosures provided by SomaLogic late yesterday afternoon, after being sued by two separate shareholders, raise significant skepticism about the merger. The Company's Board of Directors was aware of the business relationships between members of the SomaLogic Board, Casdin Capital, and Eli Casdin, which were not considered to represent a conflict of interest with respect to the Proposed Merger.
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Madryn Asset Management Issues Presentation Detailing Why SomaLogic Shareholders Should Vote “AGAINST” the Value-Destructive and Deeply Flawed Proposed Merger with Standard BioTools

Rhea-AI Summary
Madryn Asset Management, LP (Madryn) urges SomaLogic Inc. (Nasdaq: SLGC) shareholders to vote 'AGAINST' the proposed merger with Standard BioTools Inc. (Nasdaq: LAB). Madryn holds approximately 4.2% of SomaLogic's outstanding common stock and has published a list of key questions shareholders should ask the Board of Directors regarding the Proposed Merger.
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Standard BioTools and SomaLogic Announce Date for Special Meetings of Stockholders to Vote on Proposed Merger

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Standard BioTools Inc. (LAB) and SomaLogic, Inc. (SLGC) have announced the set date for their respective Special Meetings of Stockholders in connection with the pending all-stock merger previously announced on October 4, 2023. The meetings will be held virtually on Thursday, January 4, 2024, with the merger expected to close in the first quarter of 2024, subject to approval by both companies’ stockholders and satisfaction of other customary closing conditions.
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Standard BioTools Reports Third Quarter and Year-to-Date 2023 Financial Results

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BioTools Inc. (LAB) Reports Strong Q3 2023 Results, Plans Merger with SomaLogic
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Standard BioTools to Present at the Jefferies London Healthcare Conference

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Standard BioTools Inc. (Nasdaq:LAB) announced that CEO Michael Egholm will give a presentation at the Jefferies London Healthcare Conference on November 15 at 11:00 a.m. GMT. The presentation will be webcast live and available on the company's Investor Relations page.
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Standard BioTools Announces Conference Call and Webcast of Third Quarter 2023 Financial Results on November 7, 2023

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Standard BioTools Inc. (Nasdaq:LAB) will report Q3 2023 financial results on November 7, 2023, after the market close. A conference call and webcast will be held to discuss the results and operational progress.
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Lifshitz Law PLLC Announces Investigations of PFIS, KITT, LAB

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Lifshitz Law PLLC announces investigations of PFIS, KITT, and LAB
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Standard BioTools and SomaLogic to Combine in All-Stock Merger Creating a Diversified Leader in Life Sciences Tools

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Standard BioTools and SomaLogic announce an all-stock merger, creating a leading provider of multi-omics tools for research with a pro-forma equity value of over $1 billion. The combined company expects to generate $80 million in annual cost synergies by 2026. Standard BioTools increases full year 2023 revenue guidance to $100 - $105 million, while SomaLogic reaffirms full year 2023 revenue guidance of $80 - $84 million.
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Standard BioTools Reports Second Quarter 2023 Financial Results

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Standard BioTools Inc. (Nasdaq:LAB) reported financial results for Q2 2023. Total revenue grew 47% in Q2 and 17% in the first half of 2023. Non-GAAP gross margin expanded by over 2,000 basis points in Q2 and over 1,000 basis points in the first half of 2023. Non-GAAP operating expenses declined by 25% in Q2 and by 26% in the first half of 2023. Non-GAAP adjusted EBITDA loss improved by over $17 million in Q2 and over $27 million in the first half of 2023. Cash, cash equivalents, and short-term investments on June 30, 2023, totaled $143 million.
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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