Welcome to our dedicated page for Ginkgo Bioworks Holdings news (Ticker: DNA), a resource for investors and traders seeking the latest updates and insights on Ginkgo Bioworks Holdings stock.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) is pioneering the field of synthetic biology by providing an innovative horizontal platform for cell programming. Specializing in flexible, end-to-end services, the company addresses diverse challenges across multiple sectors including food, agriculture, pharmaceuticals, industrial chemicals, and specialty chemicals. Ginkgo Bioworks is organized into two primary segments: Cell Engineering and Biosecurity, with the latter contributing the majority of the company's revenue through data analytics and related services.
One of Ginkgo Bioworks' recent highlights includes the acquisition of AgBiome's platform assets, significantly enhancing its R&D capabilities in agricultural biotechnology. This move has expanded Ginkgo's proprietary metagenomics database, creating a rich resource for AI model development. Furthermore, the company is actively engaged in partnerships to amplify its technological reach, such as its collaboration with Il Granaio delle Idee to enhance sourdough bakery strains and with GreenLab to produce brazzein, a high-intensity sweetener, on a commercial scale.
Ginkgo Bioworks is also a key player in biosecurity, developing advanced infrastructure and technologies to predict, detect, and respond to biological threats. The company's upcoming Biofab1, a fully integrated lab data center expected to open in mid-2025, is part of its strategic plan to streamline operations and achieve adjusted EBITDA breakeven by the end of 2026.
Additionally, Ginkgo's platform is making significant strides in the AI and data generation space, offering services that help clients leverage high-quality data for more effective R&D. Notably, the company recently hosted its 5th annual Ferment conference, where it showcased new products and technological advancements to a global audience.
Despite facing some financial challenges, including a need to regain compliance with NYSE listing standards due to stock price fluctuations, Ginkgo remains committed to its mission. The company continues to innovate and form strategic partnerships, such as its recent agreement with Sojitz Corporation to penetrate the Japanese market, enhancing its role in the global bioeconomy.
For more information, visit ginkgobioworks.com or follow them on social media platforms like X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), and LinkedIn.
Syngenta Crop Protection and Ginkgo Bioworks (NYSE: DNA) have announced a new collaboration to accelerate the launch of an innovative biological solution. Ginkgo will develop and optimize a microbial strain to meet Syngenta's productivity targets for a secondary metabolite from their Biologicals pipeline. This collaboration aims to enable cost-effective and large-scale production of the targeted metabolite, significantly expediting Syngenta's go-to-market timeline.
Ginkgo will leverage its Ag Biologicals capabilities, biological knowledge, and machine learning approaches to develop insights from complex data sources and apply them towards diagnosing strain performance limitations and biological feature discovery. This partnership builds on their previous collaboration on next-generation seed technology and underscores the growing importance of biologicals in sustainable agricultural practices.
Ginkgo Bioworks (NYSE: DNA) announced its participation in two investor conferences in May. On May 22, 2024, Ryan Morhard, Senior Director of Policy and Partnerships, will join the virtual Sustainable API Manufacturing panel during TD Cowen's 2nd Annual Sustainability Week at 4:25 pm ET. On May 30, 2024, Ena Cratsenburg, Chief Business Officer, will host a fireside chat at 10:40 am CT (11:40 am ET) at the Leerink Partners Healthcare Crossroads Conference. Further details, webcast links, and replays will be available on the company's investor relations website.
Sojitz, a prominent Japanese trading company, and Ginkgo Bioworks (NYSE: DNA), known for its cell programming and biosecurity platform, have entered into a binding definitive agreement to promote synthetic biology in Japan.
This collaboration aims to foster connections with key Japanese businesses to encourage sustainable production processes. Sojitz will leverage its extensive network within the Japanese bioeconomy to offer Ginkgo’s R&D services. The Japanese government has set an ambitious goal of achieving a $837 billion bioeconomy by 2050 as part of its climate commitments.
Ginkgo’s technology aims to replace petroleum and chemical-based manufacturing with bio-based alternatives. An upcoming presentation by Ginkgo’s co-founder, Tom Knight, will further detail this partnership at the SusHi Tech Tokyo 2024 conference on May 15th.
On May 7, 2024, Ginkgo Bioworks Holdings (NYSE: DNA) received a notice from the NYSE indicating non-compliance with Section 802.01C of the NYSE Listed Company Manual. This was due to the company's Class A common stock averaging less than $1 per share over a consecutive 30-day trading period. The notice does not lead to immediate delisting. Ginkgo must notify the NYSE within 10 business days of its intention to regain compliance, and it has a six-month period to meet the minimum price criteria. During this period, the stock will trade under the symbol 'DNA.BC' indicating non-compliance but will remain active on the NYSE. Ginkgo is exploring options to regain compliance.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) reported first quarter 2024 financial results with a total revenue of $38 million, down 53% YoY. The company announced initiatives to reduce operating expenses by $200 million by mid-2025 to achieve Adjusted EBITDA breakeven by end of 2026. Despite a loss from operations of $(178) million, Ginkgo maintains a cash balance of $840 million. The company aims to simplify operations, expand partnerships, and introduce new offerings to drive revenue growth.
GreenLab partners with Ginkgo Bioworks to scale up production of brazzein, a novel sweetener found in the fruit of the West African Oubli plant. This partnership aims to revolutionize the sweetener industry by leveraging GreenLab's technology to grow proteins in corn kernels and Ginkgo's capabilities to optimize production. By using Plant Trait Services, Protein Services, and Deployment Capabilities, GreenLab intends to be a leading supplier of brazzein to food and beverage companies, reducing market and technical risks.
Ginkgo Bioworks (NYSE: DNA) will be presenting at the ASGCT Annual Meeting, showcasing advancements in genetic medicines. The company will present posters on CAR signaling optimization and gene therapy design, highlighting their innovative platform. Ginkgo has grown its genetic medicine services and acquired Patch Biosciences to expand capabilities. The presentations demonstrate Ginkgo's commitment to driving innovation in genetic medicine development.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) will host a presentation and Q&A session to review business performance for the first quarter of 2024 on May 9, 2024. The event will begin at 5:30 p.m. ET and can be accessed via the company's investor relations website. Questions can be submitted in advance via social media or email.
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