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.
Kantaro Biosciences, a joint venture with RenalytixAI (NASDAQ: RNLX), has received Emergency Use Authorization from the FDA for its COVID-SeroKlir antibody test kit. This semi-quantitative test detects IgG antibodies, demonstrating 98.8% sensitivity and 99.6% specificity. Manufactured in partnership with Bio-Techne Corporation (NASDAQ: TECH), production can reach up to 10 million tests monthly. The test aids in healthcare decision-making and assessing vaccine responses, underlining its importance in the ongoing fight against COVID-19.
Bio-Techne Corporation (NASDAQ: TECH) will be presenting at the Stephens Annual Investment Conference 2020 on November 17, 2020, at 3:00 p.m. EST. Chuck Kummeth, President and CEO, will lead the presentation, which will be available via a live webcast on the company's Investor Relations website.
In fiscal 2020, Bio-Techne generated approximately $739 million in net sales and employs over 2,300 people globally. The company specializes in developing high-quality proteins, diagnostic products, and genomic tools essential for scientific research and clinical diagnostics.
Bio-Techne Corporation (NASDAQ: TECH) has declared a quarterly dividend of $0.32 per share for the period ending September 30, 2020. This dividend is payable on November 27, 2020 to shareholders on record as of November 16, 2020. The company reported approximately $739 million in net sales for fiscal 2020 and employs over 2,300 people worldwide. Future dividends will be assessed quarterly by the Board of Directors.
Bio-Techne Corporation (NASDAQ:TECH) reported a robust first quarter for FY2021, ending September 30, with organic revenue growth of 10%, totaling $204.2 million. The GAAP EPS rose to $0.83 from $0.37 year-on-year, while adjusted EPS saw a 35% increase to $1.43. The Diagnostics and Genomics segment achieved 17% organic growth, bolstered by the launch of a new GMP manufacturing facility. Despite challenges from COVID-19, a positive long-term outlook is anticipated due to increased funding in life sciences.
Bio-Techne Corporation (NASDAQ: TECH) will have its CEO, Chuck Kummeth, present at the Stifel 2020 Virtual Healthcare Conference on November 16, 2020, at 1:20 p.m. EST. Interested parties can access a live webcast through the Investor Relations website. Bio-Techne specializes in producing high-quality proteins and diagnostic tools used in biomedical research and clinical laboratories. In fiscal 2020, the company reported approximately $739 million in net sales and employs over 2,300 people globally.
Bio-Techne Corporation (NASDAQ: TECH) announced that CFO Jim Hippel will present at the 29th Annual Credit Suisse Virtual Healthcare Conference on November 11, 2020, at 4:15 p.m. EST. Interested parties can access the live webcast through the company's Investor Relations website. Bio-Techne specializes in high-quality purified proteins, reagents, and diagnostic products, generating approximately $739 million in net sales in fiscal 2020. With over 2,300 employees, Bio-Techne continues to support scientific research, drug discovery, and clinical diagnostics.
Kantaro Biosciences has formed a two-year marketing and distribution agreement with EKF Diagnostics to provide its COVID-19 antibody tests, COVID-SeroKlir and COVID-SeroIndex, across Europe, with exclusive rights in the UK and Germany. The tests boast a CE Mark certification, demonstrating high sensitivity (97.8%) and specificity (99.6%) in detecting IgG antibodies. This partnership aims to enhance public health strategies and assist in assessing immunity amidst ongoing vaccination efforts. The technology is based on extensive research at the Mount Sinai Health System.
Kantaro Biosciences, in partnership with Bio-Techne Corporation, has secured CE marking for its COVID-SeroKlir and COVID-SeroIndex antibody test kits. These quantitative tests, now available to authorized clinical labs in the EU, provide crucial data about COVID-19 antibody presence and levels. COVID-SeroKlir demonstrates 97.8% sensitivity and 99.6% specificity, supporting both clinical and research applications. Kantaro aims to produce up to 10 million tests monthly, enhancing pandemic response efforts.
Bio-Techne Corporation (NASDAQ: TECH) launched the SARS-CoV-2 Multi-Antigen Serology Module for its Simple Western automated systems. This new assay detects human IgG antibodies against five SARS-CoV-2 antigens within three hours, processing up to 23 samples simultaneously. The module promises to enhance COVID-19 research by providing a detailed view of immune responses, offering quicker, reproducible results compared to traditional methods. Bio-Techne emphasizes its commitment to supporting vaccine developers and researchers with this advanced technology.
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