Welcome to our dedicated page for Alpha Teknova news (Ticker: TKNO), a resource for investors and traders seeking the latest updates and insights on Alpha Teknova stock.
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.
Alpha Teknova, Inc. (TKNO) reported a 12% increase in total revenue for 2022, reaching $41.4 million. The company has launched a new manufacturing facility, enhancing its production capabilities. For 2023, Teknova anticipates revenue between $42 million and $46 million, with expectations of significant growth in Clinical Solutions.
However, the company faced a net loss of $47.5 million for 2022, primarily due to non-cash impairment charges totaling $20.8 million. Operating expenses surged to $67.1 million, reflecting increased costs.
Alpha Teknova and Sartorius BIA Separations announced a collaboration to enhance AAV (adeno-associated virus) purification for gene therapy, optimizing recovery of viral particles. This partnership utilizes Sartorius’ proprietary AAV platform and Teknova’s custom buffer formulations, resulting in a newly developed screening kit aimed at increasing purity and consistency during purification processes. The collaboration is expected to accelerate workflow for gene therapy companies, aiding in the discovery of novel therapies. Both companies will continue to develop data demonstrating improvements in AAV purification through their combined efforts.
Alpha Teknova (Nasdaq: TKNO) announced it will report its financial results for Q4 and full year 2022 on March 15, 2023, after market close. The company specializes in critical reagents for life sciences, enhancing the development of therapies and diagnostics. A webcast and conference call will follow at 5:00 p.m. ET, accessible through their Investor Relations page. The event's replay will be available two hours post-event.
Alpha Teknova, Inc. (Nasdaq: TKNO) announced its participation in two upcoming investor conferences: the BTIG Snowbird Conference from February 14-16, 2023, in Snowbird, UT, and the Cowen 43rd Annual Health Care Conference from March 6-8, 2023, in Boston, MA. During the Cowen event, CEO Stephen Gunstream and CFO Matt Lowell will present highlights on the company’s product portfolio, market trends, and growth opportunities on March 8 at 2:10 p.m. EST. Interested investors can access a live audio webcast from the Investor Relations section of Teknova's website, available for 90 days post-event.
Alpha Teknova reported third quarter 2022 revenue of $10.7 million, reflecting a 14% increase year-over-year, driven by strong demand in its Lab Essentials segment. The company updated its full-year revenue forecast to $40-42 million. However, it faced a net loss of $22.5 million, primarily due to a $16.6 million goodwill impairment charge. As of September 30, 2022, Teknova held a cash position of $49.9 million, supporting its growth strategies and nearing completion of a new manufacturing facility.
Alpha Teknova, Inc. (Nasdaq: TKNO) has launched a new WFI Quality Water product line tailored for the bioprocessing market. Available in 20L and 200L single-use bags, the product aims to address critical supply chain challenges in cell culture media preparation and bioprocessing workflows. This new offering, manufactured in an ISO 13485 certified facility, meets USP and EP quality standards. Teknova is focused on enhancing workflow efficiency in developing novel therapies, responding to increased customer demand and shortages in WFI-grade products.
Teknova (Nasdaq: TKNO) will participate in two upcoming investor conferences: the Stephens Annual Investment Conference from November 15-17, 2022, and the Piper Sandler 34th Annual Healthcare Conference from November 29-December 1, 2022. At these events, CEO Stephen Gunstream and CFO Matt Lowell will discuss company highlights, product offerings, and market opportunities. Live webcasts will be available on the company's website for 90 days post-event. Teknova focuses on providing custom reagents for drug therapies, vaccines, and diagnostics.
Alpha Teknova, Inc. (Nasdaq: TKNO) will report its third quarter financial results for the period ending September 30, 2022, on November 9, 2022. A conference call and webcast will follow at 4:30 p.m. ET, accessible via the company’s Investor Relations page. Teknova specializes in providing critical reagents for drug therapies and diagnostics, emphasizing agility and customization in delivering high-quality products. The company's offerings include cell culture media and purification buffers for various applications, such as mRNA therapeutics and genomics.
Alpha Teknova (Nasdaq: TKNO) announced an Early Access Program for two innovative products aimed at enhancing gene therapy processes: an Anion Exchange Buffer Screening Kit and a Functional Reporter Assay. These products are still in development and focus on improving AAV therapy workflows. Additionally, the company revealed it will launch a WFI Quality Water product available online in November 2022. The goal is to streamline development and increase product purity for AAV gene therapy developers.
Alpha Teknova, a leading provider of critical reagents, announced that CEO Stephen Gunstream will present at the 2022 Cell & Gene Meeting on the Mesa on October 12, 2022. The presentation, scheduled for 5:45 p.m. PT in Carlsbad, California, will focus on the company's growth strategy and updates in their gene therapy product development. This three-day conference, organized by the Alliance for Regenerative Medicine, gathers industry executives to discuss advancements in cell and gene therapies. A live broadcast will be available for registered participants.
FAQ
What is the current stock price of Alpha Teknova (TKNO)?
What is the market cap of Alpha Teknova (TKNO)?
What does Alpha Teknova, Inc. specialize in?
Where is Alpha Teknova, Inc. headquartered?
What recent facility development has Teknova announced?
What is Teknova's proprietary product line for gene therapy?
How did Teknova perform financially in the second quarter of 2023?
What are Teknova's main product categories?
What is the Build-Tek Solutions custom product configurator?
What is the significance of Teknova's modular manufacturing platform?
How does Teknova support biopharmaceutical companies?
What industries does Teknova serve?
