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) announced the launch of its RNA-Protein Co-Detection Assays, enhancing the RNAscope™ technology. This innovation allows simultaneous examination of gene expression and secreted proteins in intact cells and tissues, addressing the challenges of traditional ISH and IHC methods. The assays utilize patented RNAscope and BaseScope™ technologies for improved specificity and sensitivity. Bio-Techne aims to combine its extensive antibody portfolio with RNAscope technology, facilitating advanced research in infectious diseases and cancer biology.
Bio-Techne Corporation (NASDAQ: TECH) announced the rebranding of its B-MoGen Biotechnologies portfolio to R&D Systems on September 21, 2020. This change includes the retirement of the B-MoGen website, with all products and services now accessible through R&D Systems' site. President Dave Eansor highlighted that this consolidation aims to enhance service offerings for cell and gene therapy customers, providing value-added services alongside high-quality products. More details on the TcBuster gene transfer system can be found on their new site.
Bio-Techne Corporation (NASDAQ: TECH) and QIAGEN N.V. have expanded their non-exclusive partnership focusing on exosome technology. The agreement allows QIAGEN to use Bio-Techne's exosome technology for developing companion in vitro diagnostic products. This partnership will promote the technology among biopharma partners for an initial 24 months, potentially extendable. Furthermore, both companies are extending their exclusive collaboration for product development through Exosome Diagnostics until 2028, enhancing marketing efforts around exosome technologies.
Bio-Techne Corporation (NASDAQ: TECH) has partnered with baseball legend Cal Ripken Jr. to promote prostate cancer awareness, coinciding with Prostate Cancer Awareness Month. Ripken, who was treated for prostate cancer, aims to educate men about the ExoDx™ Prostate test, pivotal in his own health journey. The test assists in biopsy decisions and has gained Medicare coverage, as well as recognition from the VA Healthcare system and NCCN guidelines. Bio-Techne's EPI test is now available with an at-home collection kit, enhancing accessibility for patients.
Bio-Techne Corporation (NASDAQ: TECH) will be presenting at the 2020 Wells Fargo Virtual Healthcare Conference on September 9, 2020, at 11:20 a.m. EDT. The presentation will be led by Chuck Kummeth, the company's CEO. Interested parties can access the live webcast via Bio-Techne's Investor Relations website. In fiscal 2020, Bio-Techne generated approximately $739 million in net sales and is known for its high-quality proteins and diagnostic products used in biological research and clinical diagnostics.
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.
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