Ginkgo Bioworks Holdings Inc Stock Price, News & Analysis

On November 15, 2022, Ginkgo Bioworks (NYSE: DNA) announced a proposed underwritten public offering of $100 million of its Class A common stock. The company is also granting underwriters a 30-day option to purchase an additional $15 million. Ginkgo plans to use the net proceeds to offset costs related to the acquisition of Bayer CropScience LP's assets and for general corporate purposes. The offering will occur under an effective shelf registration statement previously filed with the SEC.

Ginkgo Bioworks reported Q3 2022 total revenue of $66 million, a 14% decrease year-over-year. The Foundry revenue fell 29% to $25 million, while Biosecurity revenue decreased 3% to $42 million. Ginkgo closed several acquisitions, including Zymergen and Bayer's capabilities, enhancing strategic growth. A significant cash balance of over $1.3 billion offers financial flexibility. The company revised 2022 revenue guidance upwards to $460-$480 million and anticipates adding 55-60 new Cell Programs.

On November 11, 2022, Lygos and Ginkgo Bioworks announced a partnership aimed at optimizing production of sustainable specialty ingredients. The collaboration spans two years and focuses on replacing toxic petrochemical processes with sustainable biomanufacturing. Ginkgo will utilize its strain development expertise to convert low-cost sugars into environmentally friendly products. Both companies aim to improve product commercialization, support domestic manufacturing, and advance climate sustainability initiatives in the specialty chemicals market.

Ginkgo Bioworks (NYSE: DNA) announced a poster presentation at the Society for Immunotherapy of Cancer (SITC) on November 11, showcasing their innovative methods for discovering novel Chimeric Antigen Receptor (CAR) designs with improved persistence. The presentation highlights high throughput screening of CAR domains in human T cells, aiming to create effective CAR-T therapies for solid tumors, which make up 90% of adult cancers. The findings suggest that Ginkgo's platform can enable broader exploration and development of CAR-T therapies, addressing challenges like T cell exhaustion.

Ginkgo Bioworks (NYSE: DNA) will host a presentation and Q&A session to discuss its third-quarter results for 2022 on November 14, 2022, at 4:30 p.m. ET. The session will review the company's business performance for the quarter ending September 30, 2022. Investors can access details and a replay on Ginkgo's investor relations website. The company focuses on biotechnology applications across various markets, including agriculture and pharmaceuticals while contributing to COVID-19 response efforts.

Ginkgo Bioworks (NYSE: DNA) and Saudi Arabia's Ministry of Investment (MISA) have signed a non-binding Memorandum of Understanding to enhance biotechnology and biosecurity capabilities in Saudi Arabia. The collaboration aims to improve public health initiatives through pathogen monitoring and sequencing, leveraging technologies like laboratory automation and bioinformatics. The partnership strives to build a sustainable global biosecurity infrastructure, addressing both domestic and international biological threats as part of broader bioeconomic development.

Bolt Threads has announced a collaboration with Ginkgo Bioworks (NYSE: DNA) to enhance the production efficiency of its Mylo™ material, a sustainable leather alternative made from mycelium. The partnership aims to lower production costs and improve accessibility to Mylo, which is already utilized by brands such as adidas and lululemon. Through this initiative, Ginkgo will leverage its biotechnology platform to increase the growth rate of mycelium. This partnership builds on their previous work with Bolt's b-silk™ protein.

Ginkgo Bioworks has completed its acquisition of Zymergen, enhancing its cell programming platform with Zymergen's automation and software capabilities. This acquisition, finalized on October 19, 2022, was based on a merger agreement that provided Zymergen shareholders with 0.9179 shares of Ginkgo Class A common stock for each share they held. Ginkgo's CEO expressed optimism about integrating Zymergen's expertise and exploring new partnerships. Zymergen's shares will no longer be traded on Nasdaq, while Ginkgo continues under the ticker DNA.

IARPA, Ginkgo Bioworks (NYSE: DNA), and Draper have successfully completed the FELIX program, aimed at enhancing biodetection capabilities for genetically engineered organisms. The collaboration resulted in the development of advanced computational tools, particularly ENDAR software, which enables the detection of engineered DNA in complex biological samples. This breakthrough promises to transform national biosecurity efforts by providing faster, more accurate monitoring. Results will be presented on October 17, 2022, at 11 am Eastern on YouTube.