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Alpha Teknova, Inc. (Nasdaq: TKNO) is a prominent player in the life sciences industry, providing essential reagents that propel the discovery, development, and commercialization of biopharmaceutical products. Founded in 1996 and headquartered in Hollister, California, Teknova specializes in producing high-quality, customizable media, buffers, and reagents designed to support bacterial and yeast applications.
Teknova’s comprehensive product portfolio includes pre-poured media plates for cell growth and cloning, liquid cell culture media for cellular expansion, and molecular biology reagents for sample manipulation, resuspension, and purification. The company is renowned for its proprietary soluble pouches, which offer dry microbiological media solutions in convenient, easy-to-use formats.
The company's latest achievements include the opening of a state-of-the-art manufacturing facility in Hollister, California. This new facility, spanning over 10,000 square feet, is GMP-certified under ISO 13485:2016, significantly enhancing Teknova’s capacity to produce high-quality reagents for bioprocessing and gene therapy companies. This facility represents a three-fold increase in Teknova’s overall manufacturing capacity and reinforces its commitment to supporting customers through all stages of their clinical lifecycle.
Recent financial results show a strong performance, with the company reporting sequential revenue growth of 26% for the second quarter of 2023, despite facing market challenges. Teknova's strategic initiatives, such as the launch of the Build-Tek Solutions custom product configurator and the AAV-Tek AEX Buffer Screening Kit, underscore its dedication to innovation and customer-centric solutions.
Teknova derives most of its revenue from the United States and continues to expand its market presence through partnerships and product development. The company's modular manufacturing platform, designed by a team of scientists, engineers, and quality control experts, ensures the efficient production of reagents vital for accelerating scientific breakthroughs.
For more information or to schedule a tour of Teknova’s new GMP-certified facility, visit their website.
Teknova (TKNO) reported Q3 2024 revenue of $9.6 million, up 17% year-over-year. The company reaffirmed its 2024 revenue guidance of $35-38 million while lowering its free cash outflow outlook from $18 million to $16 million. Q3 Lab Essentials revenue remained stable at $7.2 million, while Clinical Solutions revenue grew 229% to $2.0 million. The company recorded a $2.8 million non-recurring charge related to inventory write-downs, resulting in a gross margin of 0.9%. Excluding this charge, gross margin would have been 29.8%. Total cash and short-term investments stood at $31.7 million with gross debt of $12.1 million.
Alpha Teknova (Nasdaq: TKNO), a producer of critical reagents for therapy, vaccine, and molecular diagnostics development, has announced it will release its third quarter 2024 financial results on November 7, 2024, after market close. The company will host a webcast and conference call at 5:30 p.m. Eastern Time on the same day. Investors can access the webcast through Teknova's Investor Relations website section, and participants need to register to receive dial-in information.
Teknova (NASDAQ: TKNO) reported Q2 2024 financial results, with total revenue of $9.6 million, up 3% sequentially but down 17% year-over-year. The company reaffirmed its 2024 revenue guidance of $35-38 million. Key highlights include:
- Raised $15.4 million in equity capital in July 2024
- Launched two new offerings: Express-TekSM Production and RUO+ manufacturing grade
- Clinical customers increased by 26% to 43 in the past six months
- Q2 2024 gross profit was $2.8 million with a 29.2% gross margin
- Net loss for Q2 2024 was $5.4 million, or -$0.13 per diluted share
- Free Cash Flow was -$3.0 million for Q2 2024
The company remains cautiously optimistic about market recovery and maintains its full-year outlook.
Teknova (NASDAQ: TKNO) has launched two new offerings to enhance product customization and expedite novel therapy development:
- Express-Tek℠ Production: A proprietary service that reduces custom product turnaround time by an average of two weeks, allowing products to enter production in days instead of weeks.
- RUO+ Manufacturing Grade: A new grade bridging the gap between research and clinical-grade production, providing a seamless and cost-effective option for scaling from discovery to clinical manufacturing.
These offerings aim to accelerate therapeutic development by providing faster manufacturing, delivery of critical reagents, and flexible scaling options for customers transitioning from research to clinical trials.
Alpha Teknova (Nasdaq: TKNO), a leading producer of critical reagents for novel therapies, vaccines, and molecular diagnostics, has announced its plans to report second quarter 2024 financial results on August 13, 2024, after market close. The company will host a webcast and conference call on the same day at 5:00 p.m. Eastern Time to discuss the results.
Investors and interested parties can access the live webcast through the Investor Relations section of Teknova's website or via a provided link. To participate in the call, registration is required to receive a unique PIN and dial-in information. A replay of the webcast will be available on the company's website approximately two hours after the event concludes.
Alpha Teknova has closed a $15.4 million private placement involving the issuance of 12,385,883 shares at $1.24 each, based on the Nasdaq closing price on July 11, 2024.
The gross proceeds from this private placement are approximately $15.4 million, before expenses. The funds will be used for general corporate purposes.
The securities from this transaction are not registered under the Securities Act and can only be resold under specific conditions. This announcement does not constitute an offer to sell or buy these securities in jurisdictions where such actions are unlawful.
Teknova (Nasdaq: TKNO) announced a $15.4 million private placement of 12,385,883 shares of common stock at $1.24 per share, based on the Nasdaq Official Closing Price on July 11, 2024. The private placement is set to close around July 12, 2024, contingent on standard closing conditions. Gross proceeds will be approximately $15.4 million before expenses, and the net proceeds will be used for general corporate purposes. This private placement is not registered under the Securities Act of 1933 but will comply with SEC regulations for resale. Teknova plans to file a registration statement with the SEC within 45 days and aims for it to be effective within 120 days if reviewed by the SEC.
Alpha Teknova (Nasdaq: TKNO) has provided a strategic business update and preliminary financial results for Q2 2024. The company anticipates total revenue between $9.4 to $9.6 million, reflecting a 17% to 18% decline compared to Q2 2023. However, excluding a large order from Q2 2023, the revenue shows a 7% to 9% increase. Teknova reaffirms its fiscal 2024 revenue guidance of $35-38 million and expects free cash outflow to be less than $18 million for the year. Cost management has led to a 40% reduction in headcount since Q2 2022. Key highlights include growth in the number of Clinical Solutions customers from 34 to 43 and an increase in Lab Essentials customers from 2,829 to 2,913, with on-time delivery metrics at an all-time high. Full financial results will be released on August 13, 2024.
Alpha Teknova (Nasdaq: TKNO) released its Q1 2024 financial results, reporting a 2% increase in total revenue to $9.3 million compared to $9.1 million in Q1 2023. Lab Essentials revenue remained flat at $7.3 million, while Clinical Solutions revenue rose 7% to $1.7 million. The company launched the Build-Tek™ Solutions, an innovative product allowing quick buffer formulation for early-stage therapy development. Gross profit declined to $2.2 million due to increased overhead costs. Operating expenses dropped to $10.2 million, leading to a net loss reduction from $8.8 million in Q1 2023 to $8.1 million in Q1 2024. Adjusted EBITDA improved to negative $3.8 million from negative $6.1 million. Teknova reaffirmed its 2024 revenue guidance of $35-38 million and free cash outflow of less than $18 million.
Teknova has launched Build-Tek Solutions, a custom configurator providing high-quality, customizable buffers for early-stage experiments with quick turnaround times. They also introduced the AAV-Tek AAV Stabilizer, enhancing capsid yield by up to 50% and safeguarding product integrity. The products aim to support research scientists in advancing science and therapy development.
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