Bio-Techne Corp. - TECH STOCK NEWS

Bio-Techne Corporation (NASDAQ:TECH) announced the publication of a significant paper by Exosome Diagnostics titled Exosome-based Liquid Biopsies in Cancer: Opportunities and Challenges in the Annals of Oncology. This review highlights the advancements in exosome-based liquid biopsies, which show promise for early cancer detection. Despite progress, there's a need for improved accuracy in these tests, especially for early-stage cancers. The paper emphasizes the potential of multi-analyte measurements from exosomes as a solution to limitations in existing liquid biopsy methods.

Kantaro Biosciences, a joint venture with RenalytixAI and Bio-Techne, announced that the FDA has added its COVID-SeroKlir antibody test to the Emergency Use Authorization (EUA) for convalescent plasma treatment in hospitalized COVID-19 patients. The test, which detects SARS-CoV-2 IgG antibodies with 98.8% sensitivity and 99.6% specificity, aims to qualify high titer convalescent plasma. Kantaro emphasizes the test's potential role in advancing COVID-19 therapeutics, having been used nearly 90,000 times across diverse populations since its initial FDA authorization in November 2020.

Bio-Techne Corporation (NASDAQ: TECH) announced that Chuck Kummeth, President and CEO, will present at the 2021 SVB Leerink Global Healthcare Conference on February 24, 2021, at 11:20 a.m. EST. The live webcast can be accessed via the Investor Relations page on Bio-Techne's website. The company develops high-quality purified proteins, reagents, and diagnostic products, generating approximately $739 million in net sales in fiscal 2020. Bio-Techne's products support scientific research and clinical diagnostics, contributing significantly to drug discovery and disease understanding.

Kantaro Biosciences has partnered with Atrys Health to market and distribute its COVID-SeroKlir and COVID-SeroIndex antibody tests in select European and South American regions, such as Spain, Portugal, and Brazil. These tests have achieved a CE Mark, demonstrating high sensitivity (97.8%) and specificity (99.6%) for SARS-CoV-2 IgG antibodies. This collaboration aims to enhance COVID-19 testing accessibility, critical for public health decisions and vaccine response analysis.

Bio-Techne Corporation (NASDAQ: TECH) announced an expansion of its Simple Plex immunoassay cartridge portfolio, now including nine new formats for enhanced flexibility in sample and biomarker assay processing. These cartridges operate on the Ella platform, utilizing advanced microfluidics for fully automated immunoassays. The platform allows for high-quality assays with minimal manual input, providing sub-picogram sensitivity and quick results in 90 minutes. This upgrade aims to better align assay capabilities with researchers' throughput needs.

Bio-Techne Corporation (NASDAQ:TECH) reported strong financial results for Q2 FY2021, with organic revenue growth of 19% to $224.3 million and a 21% overall increase. GAAP EPS decreased to $1.15, mainly due to a prior year's non-recurring gain, but adjusted EPS rose by 50% to $1.62. Both the Protein Sciences and Diagnostics and Genomics segments saw record organic growth of 19%. The company also achieved an adjusted operating margin of 38.7%, up from 33.4% year-over-year, while paying down $125 million in debt.

Bio-Techne Corporation (NASDAQ: TECH) announced a quarterly dividend of $0.32 per share for the period ending December 31, 2020. This dividend will be payable on February 26, 2021, to shareholders on record as of February 12, 2021. Bio-Techne, a global life sciences firm, reported approximately $739 million in net sales for fiscal 2020, enhancing its appeal as an investment option. The Board will consider future dividends quarterly.

Bio-Techne Corporation (NASDAQ: TECH) has made a strategic minority investment in Changzhou Eminence Biotechnology Co., Ltd. This funding will help Eminence expand its GMP media production capacity and service capabilities in China. Eminence, founded in 2016, focuses on high-quality cell culture media crucial for biopharmaceutical manufacturing. The investment aims to leverage Bio-Techne's reputation and industry relationships to support the growing Chinese biopharmaceutical market. Both companies anticipate collaboration on GMP molecules for cell and gene therapies.

Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on February 2, 2021, at 8:00 a.m. CST to review its second quarter 2021 financial results. Interested parties can access the call via dial-in or through a webcast link. A recorded rebroadcast will be available from 11:00 a.m. CST on the same day until 11:00 p.m. CST on March 2, 2021. Bio-Techne specializes in high-quality purified proteins and reagents, generating approximately $739 million in net sales in fiscal 2020 with around 2,300 employees.