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PhenomeX Inc. - CELL STOCK NEWS

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

PhenomeX Inc. (Nasdaq: CELL) is at the forefront of functional cell biology, offering cutting-edge solutions that empower scientists to harness the full potential of each cell. The company provides a comprehensive suite of high-throughput tools and services designed to accelerate discoveries in biopharma, diagnostics, and life sciences research.

PhenomeX's unique technologies facilitate unprecedented single-cell manipulation, enabling researchers to gain profound insights into cell function. Their renowned Beacon platform, central to many groundbreaking studies, offers unmatched speed and accuracy in identifying and isolating individual B cells. This platform has been pivotal in recent research on SARS-CoV-2, helping to identify potent Omicron-neutralizing antibodies.

The company continues to innovate with launches like the Meteor™ chips on the IsoSpark™ platform, enhancing high-throughput, quantitative, and multiplexed proteomics. Their diverse portfolio also includes the OptoSelect® chips and the newly introduced Opto® Memory B Discovery Human workflow, which significantly expands antibody discovery capabilities.

PhenomeX has established strategic partnerships with top-tier pharmaceutical companies and comprehensive cancer centers globally. The company is also actively expanding its commercial operations and geographic presence, particularly in key Asian markets. Despite facing ongoing litigation concerning its Beacon platform, PhenomeX remains confident in the uniqueness and value of its patented technology.

Recent financial performance reveals a mixed outcome with a revenue of $14.1 million for the second quarter of 2023, reflecting a decrease in gross margin primarily due to increased inventory reserves and amortization expenses. However, the company maintains a strong outlook, reiterating its revenue guidance for the full year 2023 to be in the range of $75 to $85 million.

PhenomeX is currently in a transitional phase, exploring strategic alternatives to address its capital requirements. A notable development is the tender offer by Bruker Corporation to purchase all outstanding shares of PhenomeX, which is expected to conclude by September 28, 2023. The company plans to change its name following this acquisition.

With its relentless focus on advancing human health through functional cell biology, PhenomeX is poised to remain a leader in the life sciences sector, continuously driving innovations that improve disease prevention and treatment.

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PhenomeX Inc. announces Opto® Memory B Discovery Human workflow, expanding antibody diversity on Beacon® platform.
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GSK to present data on SpotLight™ Human Lambda reagent at PEACe Conference, showcasing its use in cell line development productivity assays on the Beacon platform. Reagent expands range of molecular formats for screening. Available for purchase after October 23, 2023.
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Genovac to present at Discovery on Target 2023 conference showcasing PhenomeX's Beacon platform. PhenomeX to participate in The Festival of Biologics conference.
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PhenomeX Inc. launches Meteor chips on the IsoSpark platform, offering high throughput, quantitative, and fully automated proteomics analysis. The Meteor chip enables researchers to go from sample to answer in less than 30 minutes, accommodating 80 sample wells in triplicate per run. It provides automated data analysis and ease-of-use, allowing researchers to generate ready-to-publish data without bioinformatics skills. The initial 10-plex panel generates 2400 data points per run. The solution offers quantitative analysis and deeper insights into cellular functions. The Meteor chip will be showcased at the BioProcess International 2023 meeting.
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Bruker Corporation initiates cash tender offer to acquire PhenomeX Inc. for $1.00 per share
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Bruker Corporation is set to acquire PhenomeX Inc. for $1.00 per share in an all-cash transaction, valuing PhenomeX at approximately $108 million. PhenomeX is a functional cell biology company that provides single-cell biology research tools. The acquisition will mark Bruker's entry into single-cell biology research tools, complementing their spatial biology business.
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PhenomeX Inc. will be reporting financial results for the second quarter of 2023 after the market on August 14, 2023.
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PhenomeX Inc. announced that the series of lawsuits filed by AbCellera will now proceed in litigation. AbCellera claims that PhenomeX's Beacon platform infringes certain U.S. patents, while PhenomeX believes the claims are without merit. PhenomeX is confident it will prevail in court and continue its mission to develop cell biology research solutions. The Beacon platform offers unique features in single-cell screening technologies.
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FAQ

What does PhenomeX Inc. do?

PhenomeX Inc. specializes in functional cell biology, providing high-throughput tools and services for biopharma, diagnostics, and life sciences research.

What is the Beacon platform?

The Beacon platform is PhenomeX's technology designed for rapid and accurate identification and isolation of individual B cells, playing a critical role in antibody discovery.

What recent innovations has PhenomeX introduced?

PhenomeX recently launched Meteor™ chips on the IsoSpark™ platform and the Opto® Memory B Discovery Human workflow, enhancing proteomics and antibody discovery.

Who are PhenomeX's key partners?

PhenomeX collaborates with top global pharmaceutical companies and approximately 85% of leading U.S. comprehensive cancer centers.

How did PhenomeX perform financially in Q2 2023?

PhenomeX reported $14.1 million in revenue for Q2 2023, with a decline in gross margin due to increased inventory reserves and amortization expenses.

What is the significance of the Bruker Corporation tender offer?

Bruker Corporation has made a tender offer to purchase all shares of PhenomeX, potentially making it a wholly owned subsidiary, with the offer expected to close by September 28, 2023.

What are the legal challenges PhenomeX is facing?

PhenomeX is involved in litigation with AbCellera regarding alleged patent infringements related to the Beacon platform. PhenomeX remains confident in its technology's uniqueness.

What is the Opto® Memory B Discovery Human workflow?

This workflow allows rapid, automated generation of functional monoclonal antibodies from human memory B cells, enhancing antibody discovery for various diseases.

Where can I find more information about PhenomeX's products?

Detailed information about PhenomeX's products can be found on their official website at www.phenomex.com.

What is the company's outlook for the rest of 2023?

PhenomeX maintains its full-year revenue guidance between $75 to $85 million and continues to explore strategic alternatives to maximize shareholder value.

PhenomeX Inc.

Nasdaq:CELL

CELL Rankings

CELL Stock Data

98.79M
73.16M
11.82%
55.85%
1.3%
Analytical Laboratory Instrument Manufacturing
Manufacturing
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United States
Emeryville