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. reports developments around cell engineering, autonomous laboratory infrastructure, and contract research services that make biological R&D more programmable. Its updates cover Ginkgo Cloud Lab, Datapoints and Solutions services, Reconfigurable Automation Carts, Catalyst automation software, and AI-enabled workflows for protein engineering, nucleic acid design, cell-free systems, and biological manufacturing.
Company news also includes financial-results presentations, customer and research collaborations, agricultural biotechnology manufacturing work, and capital or governance updates. Following the completed divestiture of its Biosecurity business, recurring coverage centers on Ginkgo's autonomous lab strategy, remote wet-lab access, microbial strain engineering, fermentation processes, and the commercial use of lab-generated biological data.
Ginkgo Bioworks reported impressive Q2 2022 results, with total revenue of $145 million, signifying a 231% increase year-over-year. The company added 13 new Cell Programs, an 86% growth compared to Q2 2021. Foundry revenue reached $44 million, up 105% year-over-year, while Biosecurity revenue amounted to $100 million. Ginkgo's cash balance stands at approximately $1.4 billion, enabling future growth opportunities, including the acquisitions of Zymergen and Bayer’s West Sacramento operations. The company revised its 2022 total revenue guidance to $425–$440 million.
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Synlogic, Inc. (Nasdaq: SYBX) announced the development of SYNB2081, a new Synthetic Biotic drug candidate for treating gout, in collaboration with Ginkgo Bioworks (NYSE: DNA). This marks the second drug candidate to enter clinical development through their partnership, following SYNB1353 for homocystinuria. Gout, characterized by high uric acid levels, currently lacks effective treatments. SYNB2081 aims to address this need. The collaboration highlights the innovation potential of synthetic biology in developing therapeutics for various diseases.
On August 11, 2022, Ginkgo Bioworks (NYSE: DNA) and the Rwanda Development Board (RDB) announced a Memorandum of Understanding to enhance biosecurity in Rwanda. This partnership aims to support local public health institutions by providing biosecurity tools, training, and data infrastructure leveraging Ginkgo's Concentric platform. The collaboration intends to address regional biosecurity challenges and lay a foundation for a sustainable bioeconomy, tapping into Rwanda's biodiversity. Ginkgo's initiative reflects a significant step in its global biosecurity strategy.
Ginkgo Bioworks (NYSE: DNA) is scheduled to present its second quarter 2022 results on August 15, 2022, at 4:30 p.m. ET. The session will review the company's business performance for the quarter ending June 30, 2022. Investors can access details and the webcast link on Ginkgo's investor relations website. Additionally, a replay will be available post-event. Ginkgo's platform focuses on programming cells for applications in various sectors including food, agriculture, and pharmaceuticals, and has been active in COVID-19 response efforts.
Ginkgo Bioworks (NYSE: DNA) has appointed Kathy Hopinkah Hannan, PhD, CPA to its Board of Directors, effective August 2, 2022. Dr. Hannan brings over 30 years of experience as a C-Suite executive and corporate advisor, enhancing Ginkgo's leadership at a crucial time in its development. Her background includes significant roles at KPMG LLP and governance positions at various corporations. This strategic addition aims to leverage her expertise in enterprise sustainability and financial advisory, supporting Ginkgo's growth in the synthetic biology industry.
Ginkgo Bioworks (NYSE: DNA) extends its partnership with Clinical Enterprise to support the federal Operation Expanded Testing program, providing no-cost COVID-19 testing through December 31, 2022. This program serves vulnerable communities across the Northeast and South regions of the U.S., including K-12 schools and correctional facilities. With participation from over 1,800 organizations, the initiative aims to enhance testing equity. Key executives expressed commitment to empowering local communities and addressing asymptomatic infections.
Ginkgo Bioworks (NYSE: DNA) has announced a definitive agreement to acquire Zymergen (Nasdaq: ZY) in an all-stock deal valued at approximately $300 million. Zymergen stockholders will receive 0.9179 Ginkgo shares per Zymergen share, resulting in a pro forma ownership of 5.25% in the combined entity. This acquisition aims to enhance Ginkgo's horizontal synthetic biology platform through Zymergen's technology and assets, fostering new growth opportunities. The transaction is expected to close by Q1 2023, pending regulatory and stockholder approvals.
Ginkgo Bioworks (NYSE: DNA) has signed a definitive agreement to acquire Bayer's 175,000-square-foot Biologics R&D center for approximately $83 million. This acquisition aims to enhance Ginkgo's agricultural biologicals capabilities. The deal is expected to close in Q4 2022, pending regulatory approvals. Additionally, Ginkgo will enter a three-year collaboration with Bayer, focusing on advancing various agricultural biological programs, including nitrogen fixation. This partnership is anticipated to generate royalty earnings from products developed under the collaboration, potentially offsetting operational costs.
Ginkgo Bioworks (NYSE: DNA) announced a new cell programming project in collaboration with Sumitomo Chemical Co., Ltd. This partnership focuses on producing sustainable, animal-free molecules for the personal care and cosmetic industries. Leveraging Ginkgo's expertise and extensive codebase, the project aims to enhance sustainability while offering competitive advantages in the market. Sumitomo Chemical recognizes the potential of synthetic biology in meeting the growing demand for eco-friendly products. This initiative complements their ongoing collaboration, initiated in 2021, aimed at bio-based production across multiple sectors.