Ginkgo Bioworks Holdings Inc Stock Price, News & Analysis

Ginkgo Bioworks (NYSE: DNA), a company focused on cell programming and biosecurity, announced that its Co-Founder and CEO Jason Kelly will present at the 43rd Annual J.P. Morgan Healthcare Conference. The presentation is scheduled for Thursday, January 16, 2025, at 10:30 a.m. PT (1:30 p.m. ET). A webcast link and replay will be available on the company's investor relations website.

Ginkgo Bioworks (NYSE: DNA) has been awarded a $9.4 million subcontract in partnership with Carnegie Mellon University to develop bioelectronic cell-based devices for treating hormone disorders under ARPA-H's REACT program. The BIO-INSYNC project focuses on creating implantable devices that can produce therapeutic molecules and monitor disease biomarkers in real-time for at least one year after implantation.

The initiative will initially target thyroid disorders, developing systems to measure thyroid hormone levels and produce required doses. Patients and healthcare providers will be able to monitor and control the treatment via smartphone. The project combines Ginkgo's expertise in mammalian cell and iPSC engineering with Carnegie Mellon's bioelectronics capabilities, along with researchers from the University of Pittsburgh, University of Florida, and UC Santa Cruz.

Ginkgo Bioworks (NYSE: DNA) reported Q3 2024 financial results with total revenue of $89 million, up 61% year-over-year, including a $45 million non-cash revenue from deferred revenue release. Excluding this impact, revenue was $44 million, down 21%. Cell Engineering revenue decreased 20% to $30 million, while Biosecurity revenue fell to $14 million. The company reported a Loss from operations of $(55) million and Adjusted EBITDA of $(20) million. Ginkgo updated its 2024 guidance to $215-235 million in total revenue. The company achieved cost reductions through restructuring, estimating over $85 million in annualized savings by mid-2025.

Ginkgo Bioworks (NYSE: DNA) has successfully completed the first milestone in its partnership with Merck focused on improving biologic manufacturing. The achievement triggers a $9 million cash research milestone payment to Ginkgo. The collaboration will now proceed to its second stage, continuing efforts to enhance production processes. Ginkgo will leverage its strain engineering, high-throughput screening, and process development capabilities to support this pharmaceutical partnership.

Ginkgo Bioworks (NYSE: DNA) has scheduled its third quarter 2024 business performance presentation and Q&A session for Tuesday, November 12, 2024, at 5:30 p.m. ET, after market close. The presentation will cover results for the quarter ended September 30, 2024. Investors can access the webcast through Ginkgo's investor relations website, where a replay will also be available. Questions can be submitted beforehand via X (using #GinkgoResults) or email.

Ginkgo Bioworks (NYSE: DNA) has announced a new partnership with NOVUS International to develop advanced feed additives for the animal agriculture industry. The collaboration aims to create more efficient enzymes that can be produced cost-effectively using Ginkgo Enzyme Services. This initiative is designed to address the challenges faced by the agricultural sector, including rising feed costs and tightening margins.

The partnership focuses on improving the health and performance of livestock, particularly chickens, pigs, and cows. By leveraging Ginkgo's research innovation platform and NOVUS's animal feed application knowledge, the companies aim to bring cutting-edge technologies to market that enhance the sustainability and efficiency of animal production systems. This collaboration is expected to support producers in delivering nutritious and affordable animal products to consumers while addressing economic, environmental, and regulatory challenges.

Ginkgo Bioworks (NYSE: DNA) has launched Ginkgo Datapoints, a service designed to enhance AI model training in biology. This initiative aims to generate large, high-quality biological datasets quickly and cost-effectively. The service includes products for protein characterization and functional genomics, with the latter being the flagship offering. Ginkgo Datapoints addresses key challenges in AI model training for biology, including data availability, quality, and uniformity.

The service offers flexibility, customizability, scalability, and speed, delivering millions of data points in as little as three weeks. It leverages Ginkgo's automation and data management infrastructure to provide cost-efficient, high-quality data with volume discounts for larger datasets. Customers retain ownership of the generated data through fee-for-service pricing, making it an attractive option for various entities in the biotech and tech industries.

Ginkgo Bioworks (NYSE: DNA) has launched two new offerings to accelerate drug development, building on its partnership with Google Cloud. The first is a protein large language model (LLM) built with Google Cloud Consulting, designed to give researchers and companies insights from Ginkgo's private data. The second is a model API, allowing direct access to biological AI models.

The protein LLM, one of the first of its kind in the industry, will be available on Google Cloud's Vertex AI Model Garden. The model API is already publicly accessible on Ginkgo's website. These tools aim to streamline research pipelines, optimize lead identification, and bring medicines to market faster. Ginkgo's first model, ginkgo-AA-0-650m, is trained on over 2 billion proprietary protein sequences.

Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) has regained compliance with the NYSE's minimum bid price requirement. The company received confirmation on September 3, 2024, that its Class A common stock had maintained a closing bid price at or above $1.00 for the required period. This follows a 1-for-40 reverse stock split implemented on August 20, 2024, to address the previous non-compliance notification received on May 7, 2024.

Simultaneously, Ginkgo received notice that the NYSE will delist the company's public warrants due to abnormally low trading price levels. These warrants, originally issued in connection with Soaring Eagle Acquisition Corp's IPO, will be suspended from trading immediately. However, Ginkgo's Class A Common Stock will continue to trade on the NYSE under the symbol 'DNA' unaffected by this warrant delisting.