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Trinity Biotech plc - TRIB STOCK NEWS

Welcome to our dedicated page for Trinity Biotech plc news (Ticker: TRIB), a resource for investors and traders seeking the latest updates and insights on Trinity Biotech plc stock.

Trinity Biotech plc (NASDAQ: TRIB) is an international leader in the diagnostics industry, focusing on the development, manufacturing, and marketing of clinical diagnostic products for both clinical laboratories and point-of-care settings. Headquartered in Ireland, Trinity Biotech has been at the forefront of the industry since its formation in 1992, employing over 350 people and offering more than 400 products to customers in 80 countries.

Through a blend of organic growth and strategic acquisitions, Trinity Biotech has built a comprehensive portfolio of diagnostic products. These include test kits for the detection of infectious diseases, sexually transmitted diseases, autoimmune and hemoglobin disorders, and tools for diabetes monitoring and control. The company also supplies raw materials to the life sciences industry, expanding its influence and reach within the global market.

Trinity Biotech's product lineup features well-known brands such as Recombigen, Unigold, MarBlot, Mardx, and Immublot. The company's operations are geographically segmented into the Americas and the rest of the world, with a significant portion of its revenue derived from the Americas.

Recent developments have seen Trinity Biotech making significant strides in the diabetes management sector. The company recently acquired biosensor technology from Waveform Technologies Inc., marking its entry into the wearable biosensor market. This new venture aims to develop a range of biosensor devices, starting with a continuous glucose monitoring (CGM) product. To lead this initiative, Trinity Biotech appointed Avinash Kale as the Continuous Glucose Monitor Programme Director. Mr. Kale brings extensive experience in MedTech R&D and will play a pivotal role in advancing the company's CGM technology.

The company's commitment to innovation and excellence is evident in its ongoing projects and partnerships. Trinity Biotech continues to expand its product offerings and improve existing technologies to meet the needs of healthcare providers and patients worldwide. The company's dedication to quality and sustainability ensures that its diagnostic solutions remain at the cutting edge of the industry.

Trinity Biotech's financial performance for the fiscal year 2023 has been robust, with the company reporting significant growth and key business updates. The company's strategic focus on diabetes management solutions and human diagnostics positions it well for future success and shareholder value creation. For more details, visit Trinity Biotech's website.

Rhea-AI Summary
Trinity Biotech plc announces Q2 2023 results with $13.9m in revenue, a 3% decrease from Q1. Diabetes consumables revenue increased 10% over Q1, with a 70% increase in Asia. Clinical Chemistry and Syphilis product lines show positive momentum. Revenue outlook for Q3 is $14m to $15m. Haemoglobins franchise expects strong performance in H2 2023. Diabetes consumables expected to increase over 20% in H2. Strategic instrument placements and supply chain improvements aim to expand market. FDA clearance for Premier Resolution System. Partnership to maximize Sjogrens opportunity. TrinScreen HIV test launch in Kenya. Operational transformation initiatives for cashflow improvement. Headcount reduction of 20% by end of Q4 2023. Manufacturing optimization for Diabetes A1c consumables and instrument. Savings of over $1.5m expected. Supply chain optimization aims for 40%-50% savings in materials costs. Improved reagent column system in development.
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Trinity Biotech plc to report financial results for Q2 FY2023 on October 3, 2023. Conference call scheduled at 11:00am ET. Webcast available.
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Trinity Biotech received notice from Nasdaq for non-compliance with minimum bid price rule. Stock will continue trading but must meet $1.00 bid price for 10 consecutive days within 180-day period to regain compliance.
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Trinity Biotech has received FDA clearance for the Premier Resolution System, an automated analyzer for hemoglobin quantification and detection of variants. The system is now cleared for sale in the US.
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Trinity Biotech plc announced its Q1 2023 results, reporting a total revenue of $17.2 million. Excluding certain products and a disposed division, revenue for the quarter was $14 million, a 2.0% increase from Q1 2022. The company experienced growth in Autoimmune, Clinical Chemistry, and diabetes HbA1c consumable products. However, there were lower revenues from low-margin diabetes instrument deliveries. The development of the Premier 9210 diabetes HbA1c instrument is on track for a 2024 rollout, with improved features and expanded operating margins. Trinity Biotech is focused on expanding its market access in China and Brazil. The company also expects significant orders for its TrinScreen HIV test in Kenya. Trinity Biotech completed the sale of its Fitzgerald Industries division, generating $30 million in proceeds and reducing debt. The company will participate in the AACC annual scientific meeting and clinical lab expo in July.
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Trinity Biotech plc will report financial results for Q1 fiscal year 2023 on July 6, 2023. A conference call to discuss the results will be held at 11:00am ET. Interested parties can access the call by dialing the provided numbers. A webcast and replay of the call will also be available.
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Trinity Biotech regains compliance with Nasdaq listing rule
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Trinity Biotech plc (Nasdaq: TRIB) announced on April 19, 2023, that it has received a notice from Nasdaq regarding non-compliance with Listing Rule 555(a)(2), due to the bid price of its American depositary shares falling below $1.00 for 30 consecutive business days.

The company has until October 16, 2023, to regain compliance by achieving a closing bid price of $1.00 for at least ten consecutive business days. If not compliant, Trinity may qualify for an additional 180-day grace period if it meets other listing requirements. Management will actively monitor the bid price and explore options to regain compliance.

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FAQ

What is the current stock price of Trinity Biotech plc (TRIB)?

The current stock price of Trinity Biotech plc (TRIB) is $0.897 as of December 23, 2024.

What is the market cap of Trinity Biotech plc (TRIB)?

The market cap of Trinity Biotech plc (TRIB) is approximately 22.0M.

What does Trinity Biotech plc do?

Trinity Biotech plc develops, manufactures, and markets clinical diagnostic products for clinical laboratories and point-of-care settings. Their products are used to detect infectious diseases, autoimmune disorders, diabetes, and more.

Where is Trinity Biotech headquartered?

Trinity Biotech is headquartered in Ireland.

What recent developments have been made by Trinity Biotech?

Trinity Biotech recently acquired biosensor technology from Waveform Technologies Inc. and appointed Avinash Kale as the Continuous Glucose Monitor Programme Director to advance their CGM technology.

How many products does Trinity Biotech offer?

Trinity Biotech offers over 400 products.

In which markets does Trinity Biotech operate?

Trinity Biotech operates globally, with a significant portion of its revenue coming from the Americas. They market products in 80 countries.

What are some of Trinity Biotech's product brands?

Some of Trinity Biotech's product brands include Recombigen, Unigold, MarBlot, Mardx, and Immublot.

What is the significance of Trinity Biotech in the diagnostics industry?

Trinity Biotech is a leading player in the diagnostics industry, known for its comprehensive portfolio of diagnostic products and commitment to innovation and quality.

Who is the CEO of Trinity Biotech?

John Gillard is the CEO of Trinity Biotech.

What is Trinity Biotech's focus in recent years?

Trinity Biotech has been focusing on diabetes management solutions, including the development of continuous glucose monitoring (CGM) technology.

How can I learn more about Trinity Biotech's products and services?

You can learn more about Trinity Biotech's products and services by visiting their website at www.trinitybiotech.com.

Trinity Biotech plc

Nasdaq:TRIB

TRIB Rankings

TRIB Stock Data

22.02M
14.02M
19.68%
23.96%
0.99%
Medical Devices
Healthcare
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United States of America
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