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 CEO Chuck Kummeth present at the Barclays Global Healthcare Conference on March 16, 2022, at 8:30 a.m. EST. A live webcast will be available on Bio-Techne's Investor Relations website. The company specializes in high-quality purified proteins and reagent solutions, generating approximately $931 million in net sales in fiscal 2021. Its diverse product range supports scientific investigations and clinical diagnostics, impacting drug discovery and disease diagnosis.
Bio-Techne Corporation (NASDAQ: TECH) has announced that Executive Vice President and CFO Jim Hippel will present at the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 11:10 a.m. EST. The presentation will be accessible via a live webcast on Bio-Techne's Investor Relations website. The company, a key player in the development of purified proteins and reagent solutions, recorded approximately $931 million in net sales in fiscal 2021 and employs around 2,700 staff worldwide, focusing on diagnostics and genomic tools.
Bio-Techne Corporation (NASDAQ: TECH) announced that Jim Hippel, the Executive Vice President and CFO, will present at the Citi 2022 Virtual Healthcare Conference on February 24, 2022, at 10:15 a.m. EST. The presentation will be accessible via the company's Investor Relations website. Bio-Techne is a leading developer of purified proteins and reagent solutions, including diagnostics and genomic tools, generating approximately $931 million in net sales in fiscal 2021 with around 2,700 employees globally.
Bio-Techne Corporation (NASDAQ: TECH) has partnered with Thermo Fisher Scientific to develop and commercialize the ExoTRU kidney transplant rejection test. This non-invasive liquid biopsy assay provides critical allograft health information, aiding in the management of kidney transplant patients by distinguishing between T-cell mediated rejection and antibody mediated rejection. Developed with the Azzi Laboratory at Harvard Medical School's Transplantation Research Center, the ExoTRU assay meets a significant need in patient care and has potential for market leadership in liquid biopsies.
Bio-Techne Corporation (NASDAQ:TECH) has published significant findings in the World Journal of Urology showcasing the ExoDx Prostate test (EPI) as a key tool for assessing low-risk prostate cancer. Conducted by Dr. Alexander Kretschmer and team, the study with 2,066 subjects indicates that an EPI score below 15.6 can prevent unnecessary radical prostatectomy in low-risk patients. The EPI test demonstrated a 100% negative predictive value for ruling out grade ≥GG3 cancer. The research suggests that up to 75% of men may avoid invasive procedures through effective active surveillance.
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.
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