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 (NASDAQ: TECH) will present at the 27th Annual Meeting of the American Society of Gene & Cell Therapy, showcasing its cell and gene therapy workflow solutions. The event will feature speaker sessions, poster presentations, and a multimedia experience highlighting Bio-Techne's innovative tools and solutions for advancing cell and gene therapies.
Bio-Techne (NASDAQ: TECH) reported third-quarter fiscal 2024 results with organic revenue up 2%, GAAP EPS at $0.31, adjusted EPS at $0.48, and strong commercial execution in Diagnostics & Genomics segment. Cash flow increased by 31% to $223.5 million.
Bio-Techne (NASDAQ: TECH) declared a quarterly dividend of $0.08 per share for the quarter ended March 31, 2024. The dividend will be payable on May 24, 2024, to common shareholders of record on May 13, 2024. The company is a global life sciences provider of tools and bioactive reagents for research and clinical diagnostics, generating $1.1 billion in net sales in fiscal 2023.
Bio-Techne appointed Dr. Judith Klimovsky as an independent director on the Board of Directors, bringing valuable experience from the biotechnology industry. Dr. Klimovsky's background in antibody therapeutics and global clinical development positions her well to contribute to Bio-Techne's expansion efforts. The addition of Dr. Klimovsky enhances the board's expertise and diversity, with a focus on Latin America and global biopharma.
Bio-Techne (NASDAQ: TECH) has announced a new distribution agreement with Thermo Fisher Scientific, effective May 1, 2024. This strategic partnership will see Thermo Fisher distributing Bio-Techne's innovative products across Europe, enhancing support for researchers and accelerating scientific discoveries. The collaboration aims to empower scientists in areas such as cell and gene therapy, immunology, and neuroscience, ultimately advancing healthcare outcomes. Thermo Fisher's dedication to fostering innovation and collaboration within the scientific community is highlighted through this partnership.
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