Cytek Biosciences, Inc. Stock Price, News & Analysis

Cytek Biosciences announces the appointment of Todd Garland as Chief Commercial Officer, effective immediately. Garland, with extensive experience in the life sciences sector, previously held leadership roles at BD Biosciences, CareFusion, and Cardinal Health. His expertise is expected to enhance Cytek's growth and customer service capabilities centered around their Full Spectrum Profiling™ (FSP™) technology. Dr. Wenbin Jiang, CEO, believes Garland's leadership will be pivotal in executing growth opportunities and fortifying the organization’s market position in cell analysis.

Cytek Biosciences reported a 38% revenue growth for 2021, totaling $128 million. In Q4, revenue reached $38.9 million, a 27% increase from 2020. Although gross profit increased to $79.1 million for the year, operating expenses surged by 84% to $70 million, resulting in a decrease in income from operations. Net income fell to $4.4 million for 2021. The company plans for 2022 revenue between $160 million and $168 million and has expanded its manufacturing capacity significantly.

FREMONT, Calif., Feb. 16, 2022 – Cytek Biosciences (Nasdaq: CTKB) announces its participation in the 42^nd Annual Cowen Health Care Conference. Management will engage in a fireside chat on March 9^th at 8:10 a.m. PT / 11:10 a.m. ET. Interested participants can access the live and archived webcast via the Investors section of Cytek's website.

Cytek is a leader in cell analysis solutions, utilizing its Full Spectrum Profiling™ technology for high-resolution and high-sensitivity analysis. Its platform includes the Aurora and Northern Lights™ systems, and products are primarily for research use.

Cytek Biosciences (CTKB) will announce its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. A conference call, scheduled for 2:00 p.m. Pacific Time, will discuss the results and future outlook. Cytek is known for its Full Spectrum Profiling™ (FSP™) technology, enhancing cell analysis with high-resolution and sensitivity. The Aurora and Northern Lights systems are central to Cytek’s offerings. Note that most products are for research use only, except for Northern Lights CLC, which is cleared for clinical use in China and the EU.

Cytek Biosciences, Inc. (Nasdaq: CTKB) has opened a new 100,000 square-foot facility in Fremont, California, tripling its manufacturing capacity to accommodate rising global demand for cell analysis solutions. The facility became operational in October 2021 and supports the company's commitment to advancing cell analysis technology. Cytek aims to enhance its offering of integrated solutions, leveraging its patented Full Spectrum Profiling™ (FSP™) technology. With over 1,000 instruments installed across 40 countries, Cytek continues to innovate in the life sciences sector.

Amberstone Biosciences has successfully completed a $12 million Series A financing round, led by Viva BioInnovator, Co-win Ventures, and Sinovation Ventures, among others. The funds will be utilized to advance their tumor microenvironment activated therapeutic programs to the investigational new drug application (IND) enabling stage. CEO George Wu expressed gratitude for investor support, emphasizing their goal of developing safer and more effective therapies for cancer patients.

Cytek Biosciences (Nasdaq: CTKB) celebrated a major milestone by shipping its 1,000th cell analysis system, highlighting global adoption across 35 countries since launching in 2017. The company has expanded its product range with new high-dimensional sorters and immunoprofiling kits, enhancing research capabilities in immunology and oncology. Cytek's growth is supported by new offices in the US and Europe, following its IPO in July 2021. The company emphasizes its commitment to advancing flow cytometry technology for improved patient outcomes.

Cytek Biosciences (Nasdaq: CTKB) reported a 37% increase in third quarter total revenue, reaching $34.4 million, compared to the same period in 2020. The company expanded its installed base to 970 instruments with 115 placements during the quarter. Cytek launched a new 25-color immunoprofiling assay and acquired the cell analysis business of Tonbo Biosciences. Despite revenue growth, net income fell to $1.6 million from $6.5 million and operating expenses surged 106% to $18.3 million.

Cytek Biosciences (Nasdaq: CTKB) has announced the acquisition of the cell analysis business from Tonbo Biosciences. This acquisition expands Cytek's portfolio with life science research reagents related to cell preparation, molecular immunology, and flow cytometry. The integration of Tonbo’s reagents into Cytek's existing offerings aims to enhance its flow cytometry capabilities, particularly in protein and cell analysis. This strategic move reflects Cytek's commitment to delivering comprehensive solutions in the cell analysis market.