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.
ScaleReady and Bio-Techne (NASDAQ: TECH) have launched G-Rex optimized ProPak™ GMP Cytokines, designed for efficient closed system cell and gene-modified cell therapy (CGT) manufacturing. The product consists of a weldable bag with liquid formulated GMP-grade cytokines (IL-7 or IL-15) for CAR-T and TCR-T cell production. Each ProPak™ contains enough cytokines to dose a 1-liter G-Rex bioreactor at 10ng/mL concentration.
This innovation aims to reduce operating costs and complexity in CGT manufacturing by simplifying the process of acquiring, storing, preparing, and administering critical reagents. The product eliminates the need for cytokine reconstitution, enabling a hands-off ballroom style G-Rex manufacturing approach.
ScaleReady, in collaboration with Wilson Wolf Manufacturing, Bio-Techne (NASDAQ: TECH), and CellReady, has awarded the inaugural G-Rex® Grant of $300,000 to Dr. Steve Feldman of Stanford Medicine's Laboratory for Cell and Gene Medicine (LCGM). The grant will support the development of Stanford's G-Rex platform for CAR-T cell therapy manufacturing.
Stanford Medicine LCGM plans to use the grant to:
- Deploy a G-Rex-centric manufacturing process in an upcoming Phase 1 trial for GPC2+ pediatric neuroblastoma and medulloblastoma
- Implement Bio-Techne's Ella™ platform as a potency assay for final drug product release
- Collaborate with CellReady to create efficient G-Rex master batch records
- Develop a novel closed-system T cell purification technology
The G-Rex Grant Program is a $20M initiative by ScaleReady to advance cell and gene-modified cell therapy development and manufacturing.
Bio-Techne (NASDAQ: TECH) has announced that its President and CEO, Kim Kelderman, will be presenting at three major healthcare investor conferences in September 2024. The presentations will take place at the Morgan Stanley 22nd Annual Global Healthcare Conference on September 4th at 4:05 PM EDT, the 2024 Wells Fargo Healthcare Conference on September 6th at 11:00 AM EDT, and the Baird 2024 Global Healthcare Conference on September 10th at 1:25 PM EDT.
Investors and interested parties can access live webcasts of these presentations through the IR Calendar page on Bio-Techne's Investor Relations website. This series of presentations offers an opportunity for the company to showcase its developments and strategies to a wide audience of healthcare investors and analysts.
Bio-Techne (NASDAQ: TECH) has announced a quarterly dividend of $0.08 per share for the quarter ended June 30, 2024. The dividend will be payable on August 30, 2024, to shareholders of record as of August 19, 2024. This decision was made by the company's Board of Directors, who will consider future cash dividends on a quarterly basis.
Bio-Techne is a global life sciences company that provides innovative tools and bioactive reagents for research and clinical diagnostics. With a diverse portfolio of thousands of products, the company generated approximately $1.2 billion in net sales in fiscal 2024 and employs around 3,100 people worldwide.
Bio-Techne (NASDAQ: TECH) reported its Q4 and full fiscal year 2024 results. Q4 organic revenue increased by 1% (2% reported) to $306.1 million, while full-year organic revenue grew 1% (2% reported) to $1.2 billion. Q4 GAAP EPS was $0.25, down from $0.47 a year ago, and adjusted EPS was $0.49, compared to $0.55 last year. Full-year GAAP EPS decreased to $1.05 from $1.76, and adjusted EPS fell to $1.77 from $1.99. The Diagnostics & Genomics segment showed strong performance with 9% organic growth in Q4 and 6% for the full year. Cash flow from operations increased by 18% to $299.0 million for fiscal 2024. The company noted stabilization in biopharma and China markets, with continued focus on profitability resulting in a 33.5% adjusted operating margin in Q4.
Bio-Techne (NASDAQ: TECH) has announced the launch of the Leo™ System, a next-generation Simple Western™ instrument. This advanced system offers:
- Higher throughput: Process up to 100 samples in a single 3-hour run
- 4-times larger experimental size compared to current systems
- Enhanced quantitative capabilities for rigorous bioanalytical methods
- Improved data quality and speed over traditional western blotting
The Leo System enables ELISA-like protein quantitation with western blotting specificity, opening up new applications in drug development, clinical biomarkers, and vaccine research. Bio-Techne expects to begin shipping the Leo System in 2025.
Bio-Techne (NASDAQ: TECH) has announced its participation in Spear Bio's $45 million Series A funding round. Spear Bio, founded in 2021, is developing ultra-sensitive immunoassays capable of measuring protein biomarkers at attomolar levels from sub-microliter sample volumes. Their proprietary Successive Proximity Extension Amplification Reaction (SPEAR) technology offers significant advantages over traditional immunoassay and next-gen proteomic technologies.
The funding will accelerate Spear Bio's product development and scale its in-house manufacturing capacity. The company's initial offering will focus on key biomarkers supporting translational research in Alzheimer's disease. Bio-Techne's CEO, Kim Kelderman, expressed excitement about the investment, highlighting the potential for early diagnosis of neurodegenerative diseases using Spear Bio's technology.
Bio-Techne (NASDAQ: TECH) has announced a conference call and webcast scheduled for August 7, 2024, at 8:00 a.m. CDT to review their fourth quarter and fiscal 2024 financial results. Investors and interested parties can access the call via phone or webcast. For those unable to attend live, a recorded rebroadcast will be available from 11:00 a.m. CDT on August 7 until 11:00 p.m. CDT on September 7, 2024. This event provides an opportunity for stakeholders to gain insights into Bio-Techne's financial performance and future outlook.
Bio-Techne (NASDAQ: TECH) has announced that its President and CEO, Kim Kelderman, will present at several upcoming investor conferences. These include the William Blair 44th Annual Growth Conference on June 4, 2024, the Jefferies Global Healthcare Conference on June 6, 2024, and the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024. Each presentation will be accessible via a live webcast on Bio-Techne's Investor Relations website.
Bio-Techne (NASDAQ: TECH) will showcase its MauriceFlex™ System at the 72nd ASMS Conference on Mass Spectrometry from June 2-6, 2024, in Anaheim, California.
The MauriceFlex System offers advanced imaged capillary isoelectric focusing (icIEF) solutions, including fractionation, and supports various mass spectrometric methods for protein characterization.
Highlights include a breakfast seminar on June 4th featuring Dr. Chris Heger and Dr. Sara Carillo discussing the system's applications, particularly in protein charge heterogeneity and cell and gene therapy.
Bio-Techne will also present seven posters detailing collaborations with industry leaders like Pfizer and 908 Devices, showcasing advancements in charge isoform characterization.
Will Geist, President of Protein Sciences, emphasized the system's unique capabilities and collaborative efforts at ASMS to advance life-saving therapies.
Visit Bio-Techne at Booth #161 and learn more at bio-techne.com/mauriceflex.
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