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) will have its CEO, Chuck Kummeth, present at the 11th Annual SVB Leerink Global Healthcare Conference on February 17, 2022, at 9:20 a.m. EST. Investors can access the live webcast on the Investor Relations website. Bio-Techne specializes in developing high-quality proteins and reagents, generating approximately $931 million in net sales in fiscal 2021. With around 2,700 employees, its products are crucial for biomedical research and diagnostics, including various genomic and diagnostic tools.
Bio-Techne Corporation (NASDAQ: TECH) announced a quarterly dividend of $0.32 per share for Q4 2021, payable on February 25, 2022. This dividend targets all common shareholders of record as of February 11, 2022. Additionally, the Board approved a new share repurchase program allowing for the buyback of up to $400 million of common stock, commencing February 2, 2022. The number of shares repurchased will depend on market conditions and corporate requirements, with no obligation to acquire a specific amount.
Bio-Techne Corporation (NASDAQ: TECH) reported robust financial results for Q2 FY2022, achieving a 20% increase in net sales to $269.3 million. The organic revenue growth was 17%, with Protein Sciences leading at 19% growth, including a significant 27% rise in ProteinSimple solutions. GAAP EPS reached $1.94, contrasted with $1.15 last year, enhanced by a $28.4 million investment gain. Adjusted operating income advanced by 18% to $102.8 million, resulting in an adjusted operating margin of 38.3%.
Bio-Techne Corporation (NASDAQ: TECH) introduced its Stellar NIR / IR™ Detection Modules for the Jess system, enhancing fluorescence detection for low abundance proteins and facilitating multi-analyte multiplexing. The new modules allow total protein staining alongside various immunoassays, setting a high standard for western blotting sensitivity. Designed with automated, rapid results, the Stellar Modules provide low picogram sensitivity comparable to prior chemiluminescence detection and aim to minimize traditional western blotting drawbacks.
Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on February 1, 2022, at 8:00 a.m. CST to review its second quarter fiscal 2022 financial results. Interested parties can access the call via dial-in or online webcast. A recorded rebroadcast will be available from 11:00 a.m. CST on the same day until March 1, 2022. Bio-Techne is a leader in developing high-quality proteins, reagents, and diagnostic products, generating approximately $931 million in net sales in fiscal 2021, employing around 2,700 staff globally.
Bio-Techne Corporation (NASDAQ: TECH) announced an updated presentation time for CEO Chuck Kummeth at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 8:15 a.m. EST. A live webcast will be available on Bio-Techne's Investor Relations website. The company specializes in developing purified proteins, reagents, and diagnostic products, achieving approximately $931 million in net sales in fiscal 2021. With around 2,700 employees, Bio-Techne supports biomedical research and clinical diagnostics through a diverse product portfolio.
Bio-Techne (NASDAQ: TECH) and Akoya Biosciences (NASDAQ: AKYA) announced a partnership to develop a groundbreaking automated spatial multiomics workflow for tissue sample analysis. The collaboration aims to enhance RNA and protein analysis at single-cell resolution, facilitating better biomarker discovery and patient stratification in diseases like cancer. The partnership leverages Akoya's PhenoCycler-Fusion System and Bio-Techne's RNAScope HiPlex v2 assay, promising to accelerate research and improve treatment outcomes for complex diseases.
Bio-Techne Corporation (NASDAQ: TECH) will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 4:30 p.m. EST. Chuck Kummeth, CEO, will lead the presentation, which will be available via a live webcast on the company’s Investor Relations page. Bio-Techne specializes in high-quality purified proteins, reagent solutions, and diagnostic products, generating approximately $931 million in net sales in fiscal 2021. The company employs around 2,700 people globally.
Bio-Techne Corporation (NASDAQ: TECH) appointed Brenda Everson as Senior Vice President of Human Resources, effective January 10, 2022. She succeeds Struan Robertson, who is set to retire on February 11, 2022. Everson brings over 20 years of experience, most recently as VP of HR at Midco and previously at Apple, where she held senior roles for 18 years. President Chuck Kummeth praised Robertson's contributions to the company's culture and expressed enthusiasm for Everson's leadership skills as the company continues to grow.
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