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Fluidigm Corporation has joined the FLAMIN-GO Project to develop organ-on-a-chip technology for personalized treatment in rheumatoid arthritis (RA). This innovative approach will utilize a synovia-on-chip (SoC) model to replicate the biological complexities of RA, potentially enhancing clinical trial efficiency and patient outcomes. The Hyperion Imaging System will be employed to study protein expression patterns, aiding in the identification of biomarkers and improving therapeutic responses. The project aims to address the challenges faced by RA patients, particularly the high percentage who do not respond to current therapies.
Fluidigm Corporation (Nasdaq:FLDM), a leader in biotechnology tools, will participate in several investor conferences to discuss its business strategy and growth plans. Key upcoming events include:
- UBS Global Healthcare Virtual Conference: May 25, 2021, at 2:00 p.m. ET
- Oppenheimer MedTech Summit: May 26, 2021, with a pre-recorded presentation
- Jefferies Virtual Healthcare Conference: June 2, 2021, at 3:00 p.m. ET
Webcasts will be available on the Fluidigm investor relations website.
Fluidigm Corporation (Nasdaq:FLDM) will host a virtual investor event on May 24, 2021, at 1:00 p.m. ET to highlight its CyTOF® technology's competitive advantages, preview a new product, and update its innovation pipeline. The session will feature presentations from management and customers, aiming to enhance investor education about Fluidigm's strategy and growth pathways in life sciences. The webcast will be available on their investor relations website, with future webinars planned for enhanced investor outreach.
Fluidigm Corporation (Nasdaq:FLDM) reported a 19% increase in total revenue for Q1 2021, totaling $32.8 million, driven by a 28% rise in product and service revenue. However, the company faced a GAAP net loss of $18.8 million, up from $16 million year-over-year. Guidance for 2021 has been revised, with expected base business growth of 16-17% but a decline in COVID-19 testing revenue, leading to an annual total revenue forecast of $134-$140 million. Fluidigm aims to leverage new product innovations to cultivate revenue streams, particularly in mass cytometry.
Fluidigm Corporation (NASDAQ: FLDM) announced a publication validating its mass cytometry technologies for predicting cancer therapy responses in patients. Conducted by Cancer Research UK and the University of Cambridge, the study used a panel of 33 antibodies to analyze 53 human breast cancer xenografts. Results identified unique cellular phenotypes linked to treatment responses, suggesting that mass cytometry could enhance precision oncology. Fluidigm emphasizes its role in advancing cancer research and supporting effective therapy development.
Fluidigm Corporation (Nasdaq:FLDM) will announce its first quarter 2021 financial results on May 6, 2021, after market close. CEO Chris Linthwaite and CFO Vikram Jog will conduct a conference call and webcast at 2:00 PM PT/5:00 PM ET to discuss these results and operational progress. Interested parties can join via phone or online through the Investor Relations page on Fluidigm's website. This announcement highlights Fluidigm's commitment to transparency in sharing financial updates and operational advancements.
Fluidigm Corporation (Nasdaq:FLDM) has received Emergency Use Authorization (EUA) from the FDA for its AZOVA COVID-19 Test Collection Kit, which allows for at-home self-collection of samples. This kit enables online health assessments and subsequent home delivery of testing kits, facilitating access to COVID-19 testing. The Advanta Dx SARS-CoV-2 RT-PCR Assay, associated with the kit, shows 100% agreement with traditional testing methods. Fluidigm's collaboration with AZOVA aims to enhance accessibility and convenience in COVID-19 testing.
Fluidigm Corporation (Nasdaq: FLDM) reported a 38% increase in fourth-quarter revenue to $44.6 million, with product and service revenue up 26% at $40.5 million. For 2020, total revenue rose 18% to $138.1 million. Despite record revenue, the company reported a GAAP net loss of $18 million for Q4 and $53 million for the year. Key business developments include a collaboration with PLT Tech to market CyTOF technology in China and advancements in microfluidics and mass cytometry. Guidance for 2021 anticipates product revenue between $140 million to $150 million.
Fluidigm Corporation (NASDAQ:FLDM) announced a supply and distribution agreement with Zhejiang PuLuoTing Health Technology Co. Ltd (PLT Tech) to market CyTOF technology in China. The partnership aims for NMPA approval of the CyTOF instrument for diagnostic use, responding to growing demand in clinical settings, particularly for blood cancer diagnostics. The projected addressable market for flow cytometry analysis in this sector is estimated at $100 million from 2021-2023, with a growth rate in the double digits.
Fluidigm Corporation (Nasdaq: FLDM) announced that George Mason University is implementing saliva-based COVID-19 testing using the Advanta Dx SARS-CoV-2 RT-PCR Assay on its Biomark HD system. The university purchased two systems to support an expanded testing capacity, aiming to conduct around 10,000 tests weekly. The Advanta Dx Assay has received Emergency Use Authorization from the FDA and demonstrates 100% agreement with traditional nasopharyngeal tests. Fluidigm aims to provide accessible and noninvasive testing solutions to keep educational institutions safe.
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