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.
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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