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) 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.
Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on August 4, 2022, at 8:00 a.m. CDT to discuss its fourth quarter 2022 financial results. Interested parties can access the call via dial-in or a webcast. A recorded rebroadcast will be available starting at 11:00 a.m. CDT on the same day until September 4, 2022. The company generated approximately $931 million in net sales in fiscal 2021 and continues to innovate in the biomedical and diagnostics sectors.
Bio-Techne Corporation (NASDAQ: TECH) has launched the innovative Turbo CE-SDS cartridge, enhancing the capabilities of its Maurice capillary electrophoresis instrument. This product reduces protein purity analysis time to 5.5 minutes, responding to the biopharmaceutical industry's demand for speed and efficiency in drug development. The Turbo CE-SDS cartridge increases throughput by approximately 400%, facilitating faster and more effective sample analysis throughout the bioprocess development stages. Existing users will find integration seamless, supporting quality control and overall workflow efficiency.
Bio-Techne (NASDAQ: TECH) has announced the European launch of the CE-IVD marked RNAscope ISH Probe High Risk HPV. This tool is designed for the accurate detection of HPV mRNA in patients with oropharyngeal squamous cell carcinoma (OPSCC). Compared to traditional methods like immunohistochemistry (IHC) for p16 protein, which can misdiagnose by 5-20%, the RNAscope ISH offers superior accuracy for identifying high-risk HPV types. This advancement allows clinicians to improve patient management and diagnosis.
Bio-Techne Corporation (NASDAQ:TECH) has completed its acquisition of Namocell, Inc. This acquisition enhances Bio-Techne's capabilities by integrating Namocell's single cell sorting and dispensing technologies, which are vital for biotherapeutics and diagnostics workflows. Key applications include cell and gene therapy development, single cell genomics, and antibody discovery. The deal positions Bio-Techne to leverage these innovative technologies for growth in the biotechnology sector.
Bio-Techne Corporation (NASDAQ:TECH) has announced its intention to acquire Namocell, Inc., a leader in single cell sorting technology, expected to close in Q1 of fiscal 2023. The acquisition aims to enhance Bio-Techne's Cell and Gene Therapy franchise, with Namocell's innovative technology offering significant advantages over traditional methods like flow cytometry. Namocell's products facilitate quick and gentle sorting of single cells, critical for various applications in biotherapeutics and diagnostics. This strategic move is anticipated to generate commercial synergies for Bio-Techne.
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