Welcome to our dedicated page for Bio-Techne news (Ticker: TECH), a resource for investors and traders seeking the latest updates and insights on Bio-Techne stock.
Bio-Techne Corporation (NASDAQ: TECH) is a pioneering global life sciences company based in Minnesota. Specializing in bioactive tools and reagents, Bio-Techne serves the research and clinical diagnostic communities. The company's extensive product portfolio, exceeding 275,000 items, supports scientific investigations into biological processes and disease mechanisms, facilitating both drug discovery and accurate clinical testing.
Bio-Techne operates through two main segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment, which accounts for 75% of revenue, provides reagents such as antibodies and analytical instruments for life sciences research. The Diagnostics and Genomics segment, representing 25% of revenue, offers diagnostic reagents and molecular diagnostics, with a strong footprint in spatial biology products.
Geographically, the United States is Bio-Techne's largest market, contributing about 55% of its revenue. The company also maintains significant operations in Europe, the Middle East, Africa (20%), the UK (5%), and Asia-Pacific (15%).
In recent news, Bio-Techne has been active on multiple fronts:
- Legal Actions: Bio-Techne initiated legal proceedings in the Unified Patent Court to address patent infringements related to its RNAscope® ISH technology by Molecular Instruments, Inc.
- Innovations: Partnering with Novomol-Dx, Bio-Techne introduced the Bio-Marker Pathfinder (BMP), a point-of-care ocular biomarker kit leveraging its Ella™ platform for rapid diagnostics in ophthalmic diseases.
- Strategic Collaborations: Bio-Techne entered a distribution agreement with Thermo Fisher Scientific to expand product access across Europe and announced continued collaboration with Regulus Therapeutics, highlighting positive results in ADPKD treatment using Bio-Techne's Simple Western™ platforms.
- Financial Performance: Bio-Techne reported a modest 3% revenue increase for Q3 FY2024 despite challenging market conditions, underscoring strong operational execution and strategic investments.
- Product Showcases: The company unveiled its MauriceFlex™ System at the 72nd ASMS Conference, demonstrating innovative solutions for protein characterization.
With over 3,100 employees worldwide, Bio-Techne generated over $1.1 billion in net sales in fiscal 2023. The company continues to drive significant advancements in life sciences and healthcare through its robust portfolio and strategic initiatives.
Bio-Techne Corporation (NASDAQ: TECH) reported a strong performance for Q1 FY2023, with organic revenue growth of 7% to $269.7 million. GAAP EPS rose to $2.21, up from $1.69 last year, supported by gains on investments. The Diagnostics and Genomics segment led the growth with 17% organic growth, particularly from the ExoDx Prostate test, which saw a 70% increase in tests performed and over 100% revenue growth year-over-year. Operating cash flow also improved by 16% to $56.1 million.
Bio-Techne Corporation (NASDAQ: TECH) announced a quarterly dividend of $0.32 per share for the quarter ending September 30, 2022, payable on November 28, 2022. Shareholders of record by November 14, 2022, will receive this dividend. Additionally, a four-for-one stock split was approved, providing three extra shares for each held share to those on record by the same date. The split will take effect post-trading on November 29, 2022. Bio-Techne reported approximately $1.1 billion in net sales in fiscal 2022.
Bio-Techne Corporation (NASDAQ: TECH) announced the presentation of its diagnostic lab solutions by Asuragen at the Association for Molecular Pathology (AMP) annual meeting from November 1-5, 2022, in Phoenix, AZ. The company introduced new Armored DNA™ molecular controls for monkeypox and related viruses to enhance clinical testing capabilities. Workshops and posters will focus on genetic testing workflows and molecular controls for emerging diseases, including SARS-CoV-2. These developments aim to improve lab testing accessibility and response efficiency to public health threats.
Bio-Techne Corporation (NASDAQ: TECH) announced a proof-of-concept study from Exosome Diagnostics, revealing the feasibility of using an exosome-based platform for monitoring astronauts' health in space. The peer-reviewed study, published in npj Microgravity, identifies a potential method to diagnose spaceflight-associated neuro-ocular syndrome (SANS), which affects returning astronauts. Exosomes can be extracted noninvasively from biofluids, offering insights into health changes due to microgravity. This innovative approach aims to enhance astronaut health and has broader applications in precision medicine on Earth.
Bio-Techne Corporation (NASDAQ: TECH) has launched three new TSA Vivid Fluorophores designed for highly sensitive RNA detection in various biological samples. Optimized for use with the existing RNAscope ISH technology, these fluorophores aim to enhance RNA biomarker detection with unmatched clarity. The launch is supported by over 6,600 peer-reviewed publications, ensuring reliability. This move aligns with the company's growth strategy to leverage its unique capabilities in fluorescent imaging, contributing to advancements in cellular research and therapeutic development.
Bio-Techne Corporation (NASDAQ: TECH) launched three new Simple Plex™ Adeno-Associated Virus (AAV) viral titer assays for quantifying intact AAV capsids. Developed in collaboration with PROGEN, these assays—AAV1, AAV6, and AAV8—offer automated, reproducible methods for viral particle analysis. The assays are designed to meet the growing need for efficient titration, enhancing detection range with fewer sample dilutions. Bio-Techne's sales reached approximately $1.1 billion in fiscal 2022, and the new products expand their protein analysis portfolio.
Bio-Techne Corporation (NASDAQ: TECH) will host a conference call on November 1, 2022, at 8:00 a.m. CDT to review its first quarter 2023 financial results. Investors can access the call via dial-in or webcast. A recorded rebroadcast will be available from 11:00 a.m. CDT on the same day until 11:00 p.m. CST on December 1, 2022. In fiscal 2022, Bio-Techne generated approximately $1.1 billion in net sales and has a diverse portfolio, including reagents, diagnostic products, and genomic tools vital for biomedical research.
Bio-Techne Corporation (NASDAQ: TECH) has introduced new automated co-detection assays for the Roche DISCOVER ULTRA Platform, expanding its RNAscope ISH technology. These assays will allow simultaneous RNA and protein detection in tissue samples, potentially enhancing research in various diseases. The RNAscope platform is noted for its specificity and sensitivity, supported by over 6,600 peer-reviewed publications. With an expansive catalog of probes, Bio-Techne aims to accelerate research and therapeutic development in tissue diagnostics.
ScaleReady, a joint venture involving Bio-Techne (NASDAQ: TECH), announces the launch of the Cue Cell Processing System, designed exclusively for cell and gene therapy organizations. This innovative system automates complex, labor-intensive tasks, enhancing precision in cell processing workflows. Cue is customizable, ensuring that final formulations meet specifications consistently. Available in the U.S., Canada, and Europe, it also supports requests for regulatory documentation for advanced applications. This launch positions ScaleReady as a leader in the evolving market of cell and gene therapies.
Bio-Techne Corporation (NASDAQ: TECH) has initiated legal action against Molecular Instruments, Inc. in the UK, claiming infringement of its patented RNAscope® ISH technology. The lawsuit targets Molecular Instruments' HCR 3.0 technology, alleging violations of its European Patents 2,500,439 and 1,910,572. Bio-Techne's RNAscope® technology, known for its reliability in spatial biology, has over 6,000 peer-reviewed publications and 40,000 catalog probes. The company emphasizes the importance of protecting its intellectual property, which it views as critical for innovation and research advancement.
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