Bio-Techne Corp. - TECH STOCK NEWS

Bio-Techne Corporation (NASDAQ:TECH) partnered with Leica Biosystems to automate RNAscope™ COVID-19 probes on the BOND RX* platform for research use. This advancement enables researchers to enhance their COVID-19 research protocols, minimizing manual labor and turnaround time. RNAscope™ probes detect SARS-Cov-2 RNA and related sequences, facilitating quicker breakthroughs in vaccine and treatment research. Bio-Techne generated approximately $739 million in net sales in fiscal 2020 and holds a diverse portfolio in diagnostic and genomic products.

Bio-Techne Corporation (NASDAQ:TECH) has introduced the SARS-CoV-1/2 Spike RBD LlaMABody Recombinant Antibody, designed to block viral entry by targeting the SARS-CoV-2 spike receptor binding domain. This innovative product is the first in the new LlaMABody line and represents a significant advancement in recombinant antibody technology. Camelid antibodies, known for their smaller size and enhanced stability, offer advantages in research and therapeutic applications. Bio-Techne continues to strengthen its position in the biopharma sector by expanding its portfolio of tools for SARS-CoV-2 research.

Bio-Techne Corporation (NASDAQ:TECH) reported a 8% decline in fourth-quarter organic revenue at $175.8 million, with full-year organic growth of 4% to $738.7 million. GAAP EPS soared to $1.48 from $0.42 YoY, while adjusted EPS fell to $1.00 from $1.25. Full-year GAAP EPS reached $5.82, a significant rise from $2.47 last year. Despite challenges posed by COVID-19, they maintained strong operating cash flow, increasing 13% year-over-year. The company continues to innovate in COVID-19 testing and diagnostics, partnering with Kantaro Biosciences to increase testing capabilities.

Bio-Techne Corporation (NASDAQ: TECH) has declared a quarterly dividend of $0.32 per share for the quarter ending June 30, 2020. The dividend will be paid on August 28, 2020 to shareholders on record as of August 18, 2020. The company reported approximately $739 million in net sales for fiscal 2020 and continues to focus on providing innovative tools and bioactive reagents for life sciences.

Bio-Techne Corporation (NASDAQ:TECH) appointed Julie L. Bushman as an independent director effective July 31, 2020. The board now comprises ten directors, with nine being independent. Bushman, former Executive Vice President at 3M, has extensive experience in global operations, digital software, and CIO roles. Her addition aims to enhance Bio-Techne's global expansion and operational efficiencies.

Bio-Techne Corporation (NASDAQ: TECH) and Mount Sinai Health System are launching the COVID-SeroIndex, a quantitative SARS-CoV-2 IgG antibody RUO kit. This test kit, part of their collaboration, will be available for research use in early August 2020. Designed as an enzyme-linked immunosorbent assay (ELISA), it measures anti-COVID-19 antibodies and their levels using two virus antigens. The technology has been tested on over 50,000 samples, aimed at supporting vaccine development.

Bio-Techne Corporation (NASDAQ:TECH) announced the launch of the ExoCovid-19 test, which has been validated for detecting COVID-19 caused by SARS-CoV-2. This test is conducted in a CLIA-certified, CAP-accredited laboratory and allows for minimally invasive nasal swab specimen collection. The assay has received Emergency Use Authorization (EUA) from the FDA and is designed to enhance testing capabilities during the pandemic. The company aims to expand its COVID-19 testing offerings to improve accessibility and reliability for patients and healthcare providers.

Bio-Techne Corporation (NASDAQ:TECH) has launched the miRNAscope™ Assay, extending its RNAscope™ platform. This novel assay enables the in situ detection of microRNAs and short oligonucleotide therapeutics with single-cell resolution in intact tissues. The miRNAscope Assay addresses significant limitations of traditional methods like PCR and sequencing, offering heightened specificity, sensitivity, and ease of interpretation. Bio-Techne's commitment to enhancing RNA detection demonstrates its leadership in tissue analysis, providing essential tools for researchers in diagnostics and therapy development.

Bio-Techne Corporation (NASDAQ: TECH) will host a conference call and webcast on August 4, 2020, at 8:00 a.m. CDT to discuss its fourth quarter 2020 financial results. Interested participants can access the call via dial-in or through a provided webcast link. A recorded rebroadcast will be available from 11:00 a.m. CDT on August 4 until 11:00 p.m. CDT on September 4. Bio-Techne, a leader in high-quality protein and reagent solutions, reported approximately $714 million in net sales in fiscal 2019, employing around 2,300 people globally.