Akoya Biosciences, Inc. Stock Price, News & Analysis

Akoya Biosciences (Nasdaq: AKYA) has announced new partnerships with Nikon, CrestOptics, and Andor to enhance its CODEX® solution for single-cell imaging. These collaborations aim to improve spatial biology applications and streamline user experiences. The partnerships will allow for faster acquisition speeds and better resolution in imaging. Researchers are invited to join the I² Network for developing new applications, with applications open until July 9. CEO Brian McKelligon highlighted the commitment to broaden access to innovations in spatial biology.

Akoya Biosciences (NASDAQ: AKYA) announced the appointment of Scott Mendel to its Board of Directors. Mendel, a seasoned diagnostics industry leader, previously served as CEO of GenMark Diagnostics, which was acquired by Roche for $1.8 billion. His expertise in transforming innovative technologies into clinical solutions aligns with Akoya's mission to enhance biomarker discovery through spatial biology platforms. CEO Brian McKelligon expressed confidence in Mendel’s ability to drive insights as the company advances its strategic goals.

Akoya Biosciences (Nasdaq: AKYA) announced that its CODEX® solution will be part of the Chan Zuckerberg Initiative (CZI) grantees' toolkit, enhancing biological research capabilities with single-cell, whole-tissue imaging. This collaboration aims to support over 350 labs in the CZI network, focusing on spatial phenotyping to better understand cellular interactions and disease progression. The company’s CEO expressed enthusiasm for this addition, emphasizing its potential for breakthrough discoveries in health research.

Akoya Biosciences (NASDAQ: AKYA) announced collaboration with Johns Hopkins University (JHU) on AstroPath, a platform for predicting immunotherapy responses in advanced melanoma. Utilizing Akoya’s Phenoptics solution, researchers identified a composite spatial phenotypic signature that predicts response to anti-PD-1 therapy with an impressive area under the curve (AUC) of 0.91. This study, published in Science, highlights the potential of spatial biomarkers for enhancing immunotherapy precision and could impact other cancer types. The research underscores a groundbreaking approach to biomarker discovery.

Akoya Biosciences, Inc. (Nasdaq: AKYA) announced its upcoming inclusion in the Russell 3000® Index, effective June 28, 2021. This membership positions Akoya for potential visibility and investment opportunities within the broader market, as it guarantees automatic inclusion in either the Russell 1000® or Russell 2000® Index. The company highlights this milestone following the successful IPO in April that raised $153.3 million, reinforcing its commitment to enhancing shareholder value and advancing its spatial biology platform.

Akoya Biosciences announces a partnership with AstraZeneca to enhance drug development using Akoya's Phenoptics™ platform, focusing on multiplex immunofluorescence (mIF) workflows and spatial biomarkers. This collaboration aims to improve understanding of cancer's immune biology, aiding in the identification of predictive biomarkers crucial for effective immunotherapy. The agreement seeks to streamline clinical trials and boost precision medicine, potentially increasing trial success rates. Akoya's ABS team will showcase its work at the ASCO Virtual Meeting from June 4-8, 2021.

Akoya Biosciences has launched Advanced Biopharma Solutions (ABS), a premium service designed to enhance drug development and clinical trials through spatial biomarker guidance. The ABS initiative aims to improve the accuracy of predictive biomarkers, ultimately reducing clinical trial failure rates, particularly in immunotherapy. Utilizing Akoya's Phenoptics™ mIF platform, this program supports biopharmaceutical companies with custom assay development and image analysis. The launch is significant in the context of advancing precision medicine and addressing challenges in identifying effective cancer treatments.

Akoya Biosciences (AKYA) reported Q1 2021 total revenue of $12.2 million, achieving the upper limit of its forecast. This reflects a growth from $11.0 million in Q1 2020. The company sold 37 instruments, including 20 CODEX, marking a significant sales increase. Gross profit rose to $7.4 million with a margin of approximately 61%. Akoya raised $151.3 million in an IPO and anticipates full-year revenue of at least $52.0 million, with Q2 growth expected at 45% over last year.

Akoya Biosciences (NASDAQ: AKYA) announced a co-marketing agreement with ZEISS for the CODEX® spatial phenotyping solution. This partnership aims to enhance the integration of Akoya's high-parameter CODEX system with the ZEISS Axio Observer microscope platform. The collaboration supports an affordable, open-access strategy aimed at advancing biological research across disciplines such as cancer and immunology. The partnership promises improved user experience and faster acquisition speeds, emphasizing Akoya's commitment to accessible ultra-high multiplex imaging.