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.
Rhea-AI Summary
Bio-Techne Corporation (NASDAQ: TECH) reported second-quarter financial results, showing a 2% organic revenue decline to $272.6 million, with GAAP EPS at $0.17 and adjusted EPS at $0.40. The company experienced growth in instrument consumables and academic end markets, but saw a decrease in operating income and margin. The Diagnostics and Genomics segment saw a 11% increase in net sales, but a decrease in operating margin due to the Lunaphore acquisition.
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Bio-Techne Corporation (NASDAQ: TECH) announced a dividend of $0.08 per share for the quarter ended December 31, 2023. The quarterly dividend will be payable on February 26, 2024, to all common shareholders of record on February 12, 2024. Bio-Techne is a global life sciences company providing innovative tools and bioactive reagents for research and clinical diagnostic communities, generating approximately $1.1 billion in net sales in fiscal 2023 with approximately 3,200 employees worldwide.
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Bio-Techne's Advanced Cell Diagnostics (ACD) achieves a technical breakthrough with the development of a protease-free RNAscope spatial multiomics workflow, enabling same-slide detection of protein and RNA biomarkers with unparalleled sensitivity and tissue morphology. The new innovation allows for simultaneous imaging of both RNA and protein biomarkers on the same tissue section, providing an unprecedented single-cell view of disease pathology and therapeutic response. The advanced workflow preserves protein and RNA integrity, simplifies image and data analysis, and will be showcased at the Advances in Genome Biology and Technology (AGBT) 2024 General Meeting.
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Bio-Techne Corporation (NASDAQ: TECH) announced the launch of the first fully automated spatial multiomics workflow, revolutionizing predictive biomarker research and drug development. The solution integrates RNA and protein data at the subcellular level in spatial tissue context without user intervention, offering high throughput and reliable target detection. The multiomics application will be commercially available in Q2 2024.
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Bio-Techne Corporation (NASDAQ: TECH) welcomed presentations from Pfizer and Sanofi at the WCBP conference, showcasing the transformative impact of MauriceFlex™ system on biotherapeutic development processes. MauriceFlex™ offers charge variant characterization and protein size analysis, addressing limitations in traditional methods. Presentations demonstrated its efficiency in AAV gene therapy development and collecting charge variants of complex proteins for downstream mass spectrometry characterization.
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Bio-Techne Corporation (NASDAQ: TECH) has announced a conference call and webcast to review its second-quarter fiscal 2024 financial results. The call is scheduled for February 1, 2024, at 8:00 a.m. CST. Bio-Techne is a leading developer and manufacturer of high-quality purified proteins, reagent solutions, and diagnostic products. The company generated over $1.1 billion in net sales in fiscal 2023 and has approximately 3,100 employees worldwide.
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Bio-Techne Corporation (NASDAQ: TECH) announced the appointment of Matthew F. McManus as President, Diagnostics and Genomics Segment, effective January 8, 2024. Dr. McManus brings over two decades of senior life sciences leadership experience and will succeed Kim Kelderman, who will become Bio-Techne's Chief Executive Officer effective February 1, 2024. Dr. McManus has a strong track record in the life sciences industry, having previously served as Executive Vice President and Chief Operating Officer for Azenta and as Senior Vice President and General Manager of Bio-Techne's Molecular Diagnostics Division. He also has a background in gene synthesis and cell & gene therapy markets. Kim Kelderman, Bio-Techne's Chief Operating Officer, expressed excitement for Dr. McManus' return and confidence in his ability to lead the Diagnostics and Genomics Segment through its next phase of growth.
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Bio-Techne Corporation (TECH) to Showcase Cell and Gene Therapy Solutions
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Bio-Techne Corporation (NASDAQ: TECH) announced that Kim Kelderman, current COO, and CEO effective February 1, 2024, will present at the 42nd Annual J.P. Morgan Healthcare Conference. The company is a leading developer and manufacturer of high-quality purified proteins and reagent solutions, generating approximately $1.1 billion in net sales in fiscal 2023 with around 3,100 employees worldwide.
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Bio-Techne Corporation (NASDAQ: TECH) files Drug Master File with FDA for ExCellerate™ GMP iPSC Expansion Medium, Animal Free (CCM0036-GMP)
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FAQ
What is the current stock price of Bio-Techne (TECH)?
The current stock price of Bio-Techne (TECH) is $67.57 as of November 15, 2024.
What is the market cap of Bio-Techne (TECH)?
The market cap of Bio-Techne (TECH) is approximately 10.7B.
What does Bio-Techne Corporation do?
Bio-Techne Corporation provides innovative bioactive tools and reagents that support scientific investigations, drug discovery, and clinical diagnostics.
What are Bio-Techne's main business segments?
Bio-Techne operates through two main segments: Protein Sciences and Diagnostics and Genomics.
Where is Bio-Techne headquartered?
Bio-Techne is headquartered in Minnesota, USA.
Which markets does Bio-Techne serve?
Bio-Techne serves the pharma, biotech, academic, and diagnostic markets globally, with significant operations in the USA, Europe, Asia-Pacific, and other regions.
What recent legal actions has Bio-Techne taken?
Bio-Techne has taken legal action against Molecular Instruments, Inc. in the Unified Patent Court to address patent infringements related to its RNAscope® ISH technology.
What is the Bio-Marker Pathfinder (BMP) kit?
Co-developed with Novomol-Dx, the BMP kit is an ocular biomarker kit running on Bio-Techne's Ella™ platform, designed for rapid diagnostics in ophthalmic diseases.
What was Bio-Techne's financial performance in Q3 FY2024?
Bio-Techne reported a 3% revenue increase for Q3 FY2024, highlighting strong operational execution despite challenging market conditions.
What is the MauriceFlex™ System?
The MauriceFlex™ System is an imaged capillary isoelectric focusing (icIEF) solution for protein characterization, recently showcased at the ASMS Conference.
How many employees does Bio-Techne have?
Bio-Techne has approximately 3,100 employees worldwide.
What was Bio-Techne's revenue in fiscal 2023?
Bio-Techne generated over $1.1 billion in net sales in fiscal 2023.
Bio-Techne Corp.
Nasdaq:TECH
TECH Rankings
TECH Stock Data
10.74B
158.89M
1.04%
99.35%
2.27%
Biotechnology
Biological Products, (no Disgnostic Substances)
United States of America
MINNEAPOLIS