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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.
Alpha Teknova, a key provider of critical reagents for biopharmaceuticals, will participate in the BTIG MedTech, Digital Health, Life Science, and Diagnostic Tools Conference from February 15-17, 2022. The company's President, Stephen Gunstream, and CFO, Matt Lowell, will host a virtual fireside chat on February 17 at 1:00 p.m. ET. They will discuss company highlights, market trends, and growth drivers. Teknova specializes in custom products for bioprocessing, offering high-quality reagents for applications like cell and gene therapy.
Alpha Teknova, Inc. (Nasdaq: TKNO) announced its inclusion in the Nasdaq Biotechnology Index (NBI), effective December 20, 2021. This index tracks the performance of Nasdaq-listed biotech stocks, highlighting Teknova's eligibility based on market capitalization, trading volume, and listing duration. CEO Stephen Gunstream praised the company's milestones since its IPO in June 2021, asserting that this recognition validates Teknova's efforts in advancing new therapies and diagnostics. The move is expected to enhance visibility among investors and position Teknova favorably within the biotech sector.
Teknova (Nasdaq: TKNO), based in Hollister, California, is a key player in providing reagents for biopharmaceutical development. The company will participate in two investor conferences: the Piper Sandler 33rd Annual Healthcare Conference from November 29 to December 2, 2021, with a pre-recorded presentation on November 22 at 10:00 a.m. ET, and the Stephens 23rd Annual Investment Conference in Nashville, TN, from December 1 to 3, 2021, featuring a fireside chat on December 3 at 8:00 a.m. CT. Webcasts accessible on their Investor Relations page will remain available for 90 days.
Teknova reported total revenue of $9.4 million for Q3 2021, marking a 5% year-over-year increase. When excluding Sample Transport revenue, the company saw a notable 26% growth. Despite a strong cash position of $98.0 million, gross profit declined to $4.3 million with a gross margin of 45.4%, down from 56.6% in Q3 2020. Operating expenses surged to $8.2 million due to strategic hires and infrastructure investments, resulting in a net loss of $3.3 million for the quarter. Adjusted EBITDA was negative $2.7 million, contrasting significantly with a positive $2.7 million in the same period of 2020.
Teknova (Nasdaq: TKNO) has appointed Ken Gelhaus as Chief Commercial Officer and Jennifer Henry as Senior Vice President of Marketing. Gelhaus, with over 15 years of experience in life sciences, aims to build a successful sales team to drive growth. Henry, a veteran in branding, will bring a consumer-oriented approach to the company’s marketing strategy. This leadership change is expected to enhance Teknova’s capabilities in commercial operations and brand strategy, potentially accelerating growth in the life sciences sector.
Alpha Teknova, Inc. (TKNO) plans to disclose its third-quarter 2021 financial results on November 10, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET, allowing investors to access the discussion live via their website. Teknova specializes in providing essential reagents for biopharmaceutical development, focusing on agility and customization. The company’s proprietary processes cater to various applications like gene therapy and molecular diagnostics, aiming to accelerate breakthroughs in life sciences.
Teknova reported $8.3 million in total revenue for Q2 2021, marking a 38% year-over-year increase from $6 million. Revenue excluding Sample Transport medium rose 41% from the previous year. However, gross profit decreased to $3.4 million with a 40.4% margin, down from 57.4% in Q2 2020. Operating expenses surged to $5.9 million, driven by increased headcount. The net loss was $2.3 million, compared to net income last year. Teknova retains a strong cash position of $108 million, supporting long-term growth investments.
Alpha Teknova, Inc. (Nasdaq: TKNO) announced it will report its Q2 2021 financial results on August 11, 2021, after market close. A conference call will occur at 4:30 p.m. ET to discuss these results and provide a business update. Teknova specializes in critical reagents for biopharmaceutical development, including drug therapies and vaccines. The company's focus is on agility and customization, delivering GMP products across various applications like cell and gene therapy and mRNA therapeutics.
Alpha Teknova, Inc. (Nasdaq: TKNO) announced the closing of its initial public offering (IPO) on June 29, 2021, selling 6,900,000 shares at $16.00 each. The offering included 900,000 shares from underwriters' options, generating approximately $110.4 million in gross proceeds. The shares began trading on Nasdaq on June 25, 2021. Cowen and William Blair acted as joint book-running managers for the offering. Teknova specializes in critical reagents for biopharmaceutical products and aims to expedite clinical breakthroughs in life sciences.
Alpha Teknova, Inc. (Nasdaq: TKNO) announced the pricing of its upsized initial public offering (IPO) of 6,000,000 shares at $16.00 each, aiming for gross proceeds of approximately $96.0 million. The underwriters have a 30-day option to purchase an additional 900,000 shares. Trading on Nasdaq is set to begin on June 25, 2021. The offering is expected to close around June 29, 2021, pending customary conditions. Cowen and William Blair are joint book-running managers, with legal counsel provided by Paul Hastings LLP and DLA Piper LLP.
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