Abcam Plc Stock Price, News & Analysis

Abcam plc will announce its full-year results for the year ending 31 December 2022 on 20 March 2023 at 7:00 a.m. ET. Following the results, the Company will hold a live teleconference and webcast at 8:00 a.m. ET. Investors can access the webcast through the provided link or via the Company's investor section on its website. Abcam is a global leader in life science research tools, serving around 750,000 researchers in over 130 countries. The Company aims to enhance biological understanding and disease treatment through innovative reagents and tools.

Abcam plc (NASDAQ: ABCM) released a preliminary trading update for the year ending December 31, 2022, highlighting an approximate total revenue of £360 million, showing double-digit growth despite challenges. Key factors affecting revenue included disruptions from a new ERP system and COVID-19 impacts in China. Noteworthy achievements include the opening of a business hub in Singapore and the full integration of BioVision. The company anticipates a 15% to 20% revenue growth for FY2023 and aims for a revenue target of £450m-£525m with adjusted operating profit margins over 30% by FY2024. Full results will be disclosed on March 20, 2023.

Abcam provides an update on the cancellation of its Ordinary Shares' trading on AIM, effective from December 14, 2022. The last trading day will be December 13, 2022. Following this delisting, Abcam's American Depositary Shares (ADSs) will continue to be traded on Nasdaq under the ticker symbol ABCM. This shift aims to streamline trading and improve accessibility for investors. For more details on the process of converting Ordinary Shares to ADSs, visit the company's official website.

Abcam plc has successfully passed a resolution for the cancellation of its Ordinary Shares trading on the AIM market at its General Meeting held on November 11, 2022. A significant majority, 98.19%, voted in favor of the delisting, with 1.81% against. The final delisting will be effective from 7:00 a.m. on December 14, 2022. Shareholders can exchange their Ordinary Shares for American Depositary Shares (ADSs) without cost until December 14. This move is part of Abcam's strategy to consolidate its market presence and enhance shareholder value.

NanoString Technologies (NASDAQ: NSTG) and Abcam (NASDAQ: ABCM) have expanded their collaboration, announcing a co-marketing agreement for Abcam's validated antibodies to be integrated into NanoString's CosMx Spatial Molecular Imager (SMI). This partnership will enhance spatial biology capabilities, offering the first 64-plex protein panel for high-plex spatial multiomics at single-cell resolution. The new human immuno-oncology panel will be presented at the 37th Annual Meeting of the Society of Immunotherapy of Cancer Conference on Nov. 10.

Abcam plc plans to cancel its ordinary shares from trading on AIM, effective 14 December 2022, subject to shareholder approval at a general meeting on 11 November 2022. This move aims to enhance trading liquidity by consolidating its shares on Nasdaq, where its American Depositary Shares (ADSs) will continue to trade. Shareholders are encouraged to deposit their ordinary shares for ADSs, without incurring costs if done before the delisting date. Abcam aims to attract more investors and streamline administrative processes following the AIM delisting.

Abcam plc reported a 20% constant exchange rate revenue growth for H1 2022, reaching £185.2 million, a 23% increase from H1 2021. The adjusted gross profit margin rose to 75.6%, while adjusted operating profit surged by 60% to £42.6 million. In-house products now constitute 67% of total revenue. Although reported operating profit fell to £9.3 million, adjusted diluted earnings per share jumped 97% to 14.0p. The company plans to cancel its AIM listing following positive shareholder feedback. Full-year revenue growth is forecasted at 20%.

Abcam plc (AIM: ABCM, Nasdaq: ABCM) reported a robust trading update for the six months ending June 30, 2022, indicating total revenues of approximately £185 million, representing a 19% growth at constant exchange rates and 23% growth on a reported basis. This growth is attributed to in-house catalogue sales and improved gross margins. The company anticipates a 20% revenue growth for 2022. Additionally, Abcam plans to maintain a sole listing on Nasdaq, canceling its AIM admission, pending shareholder approval.

Abcam, a leader in life science research tools, has appointed Tommy Thomas as Vice President of Investor Relations as of June 27, 2022. With over 20 years of experience in the sector, including roles at Avantor and Perkin Elmer, Thomas is expected to enhance the company's investor relations and strengthen ties with institutional investors. Michael Baldock, CFO of Abcam, expressed that Thomas's expertise aligns with the company's growth strategy. Abcam aims to differentiate itself further in the marketplace through customer-centric innovation.