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Telesis Bio, Inc. (NASDAQ: TBIO) is a leading synthetic biology company revolutionizing the field with its advanced technology for building high-quality synthetic DNA and mRNA. Based in San Diego, Telesis Bio manufactures and distributes a variety of laboratory equipment including synthetic biology instruments, reagents, and related services that empower researchers in various scientific domains.
The company's flagship product, the BioXp® system, is an award-winning, fully automated genomics workstation that streamlines the entire synthesis, cloning, and amplification workflow. This system consolidates various processes, enabling the creation of double-stranded DNA fragments, automated cloning, and next-generation sequencing DNA library preparation. The BioXp system is complemented by BioXp kits, Benchtop reagents, and BioXp biofoundry services, all designed to accelerate synthetic biology workflows.
Telesis Bio is known for its industry-standard Gibson Assembly® method, an essential tool for assembling DNA molecules. The company recently launched the groundbreaking Gibson SOLA platform, which supports high-throughput drug discovery applications and promises significant advantages over existing solutions. This platform ensures high-fidelity synthesis of synthetic oligonucleotides, genes, and transfection-ready mRNA, allowing researchers to achieve results within unprecedented timelines.
In its recent updates, Telesis Bio announced several milestones, including the introduction of new kits to expand their suite of NGS Library Prep solutions on the BioXp System. The company has shown resilience and adaptability, with revenue for the third quarter of 2023 at $5.6 million, despite a challenging economic environment. Their ongoing efforts in cost-cutting have effectively reduced operating expenses and net losses, laying a strong foundation for future growth.
Telesis Bio's technology is crucial in multiple fields, including precision medicine, biologics drug discovery, vaccine and therapeutic development, genome editing, and cell and gene therapy. Researchers worldwide rely on their solutions to accelerate the design-build-test paradigm, pushing the boundaries of synthetic biology to address some of humanity's greatest challenges.
As Telesis Bio continues to innovate and expand, they remain committed to providing researchers with the tools and resources needed to drive scientific discovery and application. For more information, visit www.telesisbio.com.
Telesis Bio and Beckman Coulter Life Sciences have announced a collaboration to revolutionize DNA and mRNA synthesis. The partnership aims to create efficient and scalable biofoundries, delivering solutions for sustainable and rapid on-premise synthesis of DNA. This innovative approach combines Telesis Bio's Gibson SOLA enzymatic reagent platform with Beckman Coulter Life Sciences' automation expertise.
The collaboration integrates Telesis Bio's Gibson SOLA Enzymatic Synthesis technology with the new Biomek Echo One System from Beckman Coulter Life Sciences. This integration ensures rapid, reliable, and highly scalable production of extremely high-fidelity DNA, empowering researchers to achieve greater productivity and innovation in various discovery applications.
The partnership aims to establish local and on-premise DNA foundries that function as digital-to-biologic converters, delivering DNA or mRNA as fast as overnight. This collaboration is expected to set a new standard for on-premises biofoundries and drive forward the next generation of therapeutic and diagnostic advancements.
Telesis Bio Inc. (NASDAQ: TBIO) has announced its decision to voluntarily delist its common stock from the Nasdaq Global Select Market. The company plans to file a Form 25 with the SEC on or about September 20, 2024, with the last trading day expected to be around September 30, 2024. This decision comes after Telesis received notifications from Nasdaq regarding non-compliance with the minimum stockholder's equity requirement and the minimum Market Value of Publicly Held Shares (MVPHS) requirement.
Telesis believes it will be unable to regain compliance with these requirements. Following the delisting, the company's common stock is expected to be quoted on an OTC market, although there is no guarantee of continued trading. Telesis will remain subject to reporting obligations under the Exchange Act.
Telesis Bio Inc. (NASDAQ: TBIO) reported its Q2 and H1 2024 financial results. Key highlights include:
1. Revenue decreased to $1.6 million in Q2 2024 from $7.0 million in Q2 2023.
2. Gross margin dropped to -52% in Q2 2024 from 71% in Q2 2023, primarily due to restructuring charges.
3. Operating expenses improved by 14% to $10.7 million in Q2 2024.
4. Net loss increased to $13.2 million ($7.62 per share) in Q2 2024 from $8.4 million ($5.10 per share) in Q2 2023.
5. The company is advancing its Gibson SOLA reagent platform and continuing its Pfizer collaboration.
6. Telesis Bio divested its Eton subsidiary and underwent restructuring to reduce costs.
7. As of June 30, 2024, the company had $10.3 million in cash and equivalents, with $5.3 million in notes payable.
Telesis Bio Inc. reported their financial results for the first quarter of 2024, highlighting their strategic focus on Gibson SOLA and BioXp mRNA solutions. Revenue decreased compared to the same period last year, with operating expenses reduced by 31%. The company continues to make progress with its collaborations and is optimistic about the future.
Telesis Bio Inc. announced a 1-for-18 reverse stock split to comply with Nasdaq's minimum bid price requirement. The split will consolidate every eighteen shares into one, reducing outstanding shares from 30.1 million to 1.7 million. The reverse stock split will not affect preferred stock but will adjust conversion prices and exercise prices of warrants, options, and equity awards.
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