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SomaLogic, Inc. - SLGC STOCK NEWS

Welcome to our dedicated page for SomaLogic news (Ticker: SLGC), a resource for investors and traders seeking the latest updates and insights on SomaLogic stock.

SomaLogic, Inc. (Nasdaq: SLGC) is a pioneering company in the field of proteomics, dedicated to transforming healthcare through innovative solutions for detecting and diagnosing diseases. Founded in 2000, SomaLogic leverages decades of aptamer research to offer cutting-edge proteomic technologies that surpass current industry challenges. The company's proprietary platform facilitates the measurement of 11,000 proteins from a single 55-microliter plasma or serum sample, covering a substantial portion of the human proteome.

SomaLogic's mission is to revolutionize life sciences and clinical diagnostics by discovering, developing, and commercializing revolutionary research tools and diagnostic products. Over the past 20 years, the company has worked closely with pharmaceutical firms, academic institutions, and contract research organizations to fuel advancements in drug discovery, disease understanding, and treatment development, particularly in areas such as oncology, diabetes, cardiovascular, liver, and metabolic diseases.

In recent developments, SomaLogic has been at the center of a proposed merger with Standard BioTools, Inc. (Nasdaq: LAB). This transaction has sparked significant debate among stakeholders, with some expressing opposition and filing lawsuits, while others, including SomaLogic's board, advocate for the merger, citing potential value maximization benefits. The final outcome will be determined following stockholder votes and customary closing conditions, with the merger expected to finalize in early 2024.

For more information about SomaLogic, visit somalogic.com or contact their team at information@somalogic.com or 303-625-9000.

News

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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ISS Recommends SomaLogic Stockholders Vote “FOR” Proposed Merger with Standard BioTools

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SomaLogic, Inc. (Ticker: SLI) urges stockholders to vote 'FOR' the pending merger with Standard BioTools at the upcoming Special Meeting of Stockholders on January 4, 2024. Institutional Shareholder Services (ISS) has recommended the merger, citing the strategic rationale of combining two sub-scale companies to slow down cash burn and accelerate the path to profitability. The all-stock structure of the transaction provides shareholders with an opportunity to benefit from potential upside.
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Madryn Asset Management Highlights Newly-Disclosed Conflicts of Interest Related to Proposed SomaLogic Merger with Standard BioTools

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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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SomaLogic Issues Letter to Stockholders Reiterating Recommendation for Value Maximizing Merger with Standard BioTools

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SomaLogic, Inc. (Nasdaq: SLGC) issues an open letter to stockholders highlighting the value maximizing merger with Standard BioTools (Nasdaq: LAB) on October 4, 2023. The merger aims to deliver compelling long-term upside, accelerate path to profitability, and maximize value for stockholders.
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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

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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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SomaLogic Reports Recent Business Highlights and Third Quarter 2023 Financial Results

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SomaLogic, Inc. (Ticker: SLI) reports $22.0 million in revenue, reflecting 14% year-over-year growth, excluding NEB royalty revenue. Cash and investments exceed $450 million. Full year 2023 revenue guidance raised to $82-85 million. Management to host conference call at 4:30pm ET. SomaLogic, a leader in proteomics technology, shows solid execution and increasing commercial activity.
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SomaLogic announces new SomaScan® 11K Platform

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SomaLogic Inc. has launched its high-plex proteomics platform, the SomaScan 11K Platform, which provides 11,000 total protein measurements. This is the largest proteomics offering on the market and is expected to enhance biomarker and drug target discovery. The platform offers a broader view of the human proteome, giving researchers more opportunities for unique biological discoveries. It maintains high accuracy with fewer, smaller samples, making it valuable for population studies with limited sample sizes.
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FAQ

What is the market cap of SomaLogic (SLGC)?

The market cap of SomaLogic (SLGC) is approximately 396.2M.

What does SomaLogic, Inc. specialize in?

SomaLogic specializes in proteomics technology, offering advanced solutions for detecting and diagnosing diseases by measuring proteins in the human body.

When was SomaLogic founded?

SomaLogic was founded in 2000.

What recent important event has SomaLogic been involved in?

SomaLogic has been involved in a proposed merger with Standard BioTools, Inc., which has led to significant discussions and legal actions among stakeholders.

What applications does SomaLogic's technology have?

SomaLogic's technology is used in drug discovery, disease research, and treatment development, benefiting areas such as oncology, diabetes, and cardiovascular diseases.

How many proteins can SomaLogic measure with a single sample?

SomaLogic can measure 11,000 proteins from a single 55-microliter plasma or serum sample.

Who can benefit from SomaLogic's proteomics technology?

Pharmaceutical companies, academic institutions, and contract research organizations benefit significantly from SomaLogic's advanced protein detection and analysis capabilities.

What is the mission of SomaLogic?

SomaLogic's mission is to transform healthcare by developing and commercializing revolutionary research tools and diagnostic products in the life sciences.

How can I learn more about SomaLogic?

You can learn more about SomaLogic by visiting their website at somalogic.com or contacting them at information@somalogic.com or 303-625-9000.

What is the status of the merger between SomaLogic and Standard BioTools?

The merger has been approved by SomaLogic stockholders and is expected to close in early 2024, subject to final conditions.

Who are the key executives at SomaLogic?

Key executives include Dr. Larry Gold, the founder, and Dr. Jason Cleveland, the Chief Technology Officer.

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SomaLogic, Inc.

Nasdaq:SLGC

SLGC Rankings

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SLGC Stock Data

396.23M
175.53M
2.16%
61.71%
3.79%
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