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) announced plans to seek shareholder approval for a four-for-one forward stock split during its 2022 Annual Meeting scheduled for October 27, 2022. This initiative aims to increase the total number of authorized shares through an amendment to the Company's Articles of Incorporation, with the stock dividend expected in the second quarter of fiscal 2023. Shareholders will find more information in the preliminary proxy filed with the SEC on September 1, 2022, and additional details are forthcoming in a definitive proxy statement.
Bio-Techne Corporation (NASDAQ: TECH) announced that Jim Hippel, CFO, will present at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 1:30 p.m. EST. Interested parties can access the live webcast through the Investor Relations website. Bio-Techne specializes in high-quality purified proteins, diagnostics, and genomic tools, generating approximately $1.1 billion in net sales in fiscal 2022. The company employs about 3,000 individuals worldwide, focusing on advancing research and clinical diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) will have its CFO, Jim Hippel, present at the 2022 Wells Fargo Healthcare Conference on September 7, 2022, at 9:10 a.m. EST. The presentation will be available via live webcast on the company’s Investor Relations website. Bio-Techne is known for developing high-quality purified proteins and reagents, contributing to advancements in biomedical research and clinical diagnostics. The company generated approximately $1.1 billion in net sales in fiscal 2022 and employs around 3,000 people globally.
Bio-Techne Corporation (NASDAQ: TECH) has published a study in Green Analytical Chemistry showcasing an innovative icIEF method for assessing Adeno-Associated Virus (AAV) capsid proteins. Led by Dr. Jiaqi Wu and Dr. Chris Heger, the method, validated against ICH Q6B guidelines, demonstrated excellent precision, linearity (R2 = 0.998), and a low limit of quantitation of 2.6 x 1010 VP/mL. The method scored high in environmental sustainability, making it suitable for the biopharma industry, enhancing both data reliability and ecological responsibility.
Bio-Techne Corporation (NASDAQ: TECH) announced the launch of its Quantist Luminex data analysis software, compatible with all Luminex xMAP instruments. This software enhances the efficiency and accuracy of multiplex assay data analysis, enabling researchers to assess long-term data consistency. The interface facilitates inter-assay comparisons and data export for analysis. With a focus on end-to-end solutions for multiplex workflows, this launch represents a strategic move to support research efforts. Bio-Techne reported approximately $1.1 billion in net sales for fiscal 2022.
Bio-Techne Corporation (NASDAQ: TECH) has announced a quarterly dividend of $0.32 per share for the period ending June 30, 2022. This dividend will be payable on August 29, 2022, to all shareholders of record on August 15, 2022. The company achieved approximately $1.1 billion in net sales in fiscal 2022, and plans to consider future cash dividends quarterly. Bio-Techne provides innovative tools and reagents for research and diagnostics, aiding in drug discovery and clinical testing.
Bio-Techne Corporation (NASDAQ: TECH) announced a planned transition for CEO Chuck Kummeth, effective June 30, 2024. The Board has started searching for his successor, evaluating both internal and external candidates. Kummeth, who has served as CEO since April 2013, significantly increased revenue from $311 million to $1.1 billion, achieving a CAGR of over 15%. He is credited with expanding the workforce from 800 to over 3,000 and completing 17 acquisitions. Kummeth will remain on the Board post-retirement to aid in the transition.
Bio-Techne Corporation (NASDAQ: TECH) reported strong Q4 FY2022 results, with organic revenue growth of 14% to $288.2 million, and a full-year revenue of $1.1 billion—an increase of 17%. GAAP EPS surged to $1.51, up from $0.37 year-over-year, while adjusted EPS rose by 9% to $2.05. The Protein Sciences segment experienced 16% organic growth. The acquisition of Namocell enhances Bio-Techne's capabilities in cell sorting. Despite foreign currency impacts, operational excellence continues to drive success as the company prepares for FY2023.
Bio-Techne Corporation (NASDAQ: TECH) announced an exclusive licensing agreement with the University of Dundee to commercialize the BromoTAG® system. This partnership aims to enhance the recruitment of postdoctoral researchers at the Centre for Targeted Protein Degradation. BromoTAG enables researchers to identify proteins for new therapeutics by tagging and modifying them effectively, minimizing off-target effects. Bio-Techne's long-standing relationship with the university will be strengthened through this collaboration, which promises advancements in drug discovery.
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