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Standard BioTools Inc. - LAB STOCK NEWS

Welcome to our dedicated page for Standard BioTools news (Ticker: LAB), a resource for investors and traders seeking the latest updates and insights on Standard BioTools stock.

Standard BioTools Inc. (Nasdaq: LAB), formerly known as Fluidigm Corporation, is at the forefront of biomedical research technology development. The company specializes in providing innovative tools that accelerate the discovery and development of new medicines. Their core technologies include proprietary mass cytometry and microfluidics, catering to the proteomics and genomics markets respectively. With these advanced tools, Standard BioTools enables researchers to gain deep insights into health and disease, facilitating breakthroughs in areas such as oncology, immunology, and immunotherapy.

Headquartered in South San Francisco, Standard BioTools operates globally, serving academic, governmental, pharmaceutical, biotechnology, and clinical laboratories. The company’s products are designed to improve experimental workflows, increase throughput, and reduce costs while maintaining high data quality. Their offerings include sophisticated instruments, software, integrated fluidic circuits (IFCs), high-performance assays for gene expression and genotyping, and next-generation sequencing primers.

In recent developments, Standard BioTools has entered a multi-year collaboration with Bristol Myers Squibb to utilize the SomaScan® Platform in clinical trials, enhancing drug development processes in therapeutic areas like immunology and cardiovascular diseases. Additionally, the company has enhanced its spatial biology capabilities with the launch of the Hyperion™ XTi system, which offers rapid and detailed tissue imaging modes.

Financially, Standard BioTools is focused on operational excellence and disciplined M&A strategies to drive profitable growth. Recent restructuring efforts are projected to save $45-50 million in operational expenses annually by 2025, positioning the company for long-term sustainable growth. The issuance of new common stock shares has also streamlined the company’s capital structure, making it more attractive to investors and potential M&A partners.

Overall, Standard BioTools is committed to providing reliable and repeatable insights that transform scientific discoveries into better patient outcomes, thus playing a crucial role in advancing human health.

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Standard BioTools Inc. (Nasdaq: LAB) has announced its upcoming second quarter 2024 financial results conference call and webcast, scheduled for July 31, 2024. The company will release its financial results after market close, followed by a management-hosted conference call and webcast at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors and interested parties can access the call via phone or listen to the live audio webcast online. The event aims to discuss the Q2 2024 financial performance and operational progress of Standard BioTools.

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Standard BioTools announced the acquisition of the Carterra LSAXT system to enhance the validation of its SomaScan Platform. This high-throughput proteomics technology will benefit researchers by providing detailed information on protein binding and biomarker characterization.

By analyzing the kinetic properties of SOMAmer Reagents, the LSAXT system aims to improve the quality of the SomaScan 11K Assay reagents and support future content expansion. This collaboration will accelerate data delivery and offer greater validation for Standard BioTools' customers.

The LSAXT system is chosen for its efficiency in delivering extensive data rapidly, enabling precise identification of binding sites and aiding in the discovery of new biomarkers and diagnostic tests.

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Standard BioTools announced participation in several investor conferences in June 2024. The schedule includes:

- Jefferies Global Healthcare Conference on June 5th & 6th, where CEO Michael Egholm will join a fireside chat on June 5th at 2:30 p.m. ET.

- Scotiabank Healthcare 1x1 Day on June 20th, featuring 1x1 investor meetings in Toronto, Canada.

- TD Cowen’s 3rd Annual Tool/Dx Revolution Conference from June 24th to 26th, with CEO Michael Egholm participating in a panel discussion on M&A consolidation on June 25th at 11:50 a.m. PT.

Presentations will be webcast live on the company's Investor Relations page.

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Standard BioTools announced the grant of 207,832 restricted stock units (RSUs) under its 2022 Inducement Equity Incentive Plan, effective May 20, 2024. This grant serves as an inducement for a new employee and complies with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest initially on May 20, 2025, with 1/4th of the shares vesting on this date. Following this, 1/16th of the shares will vest every three months, contingent upon the employee's continued service.

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Standard BioTools Inc. announced its first quarter 2024 financial results, showcasing strong revenue growth, operating expense synergies, and a path to cash flow positivity by 2026. The company reported pro forma combined revenue of $46.2 million, gross margin of 49.2%, and operating expense reductions. With a cash balance of $464 million, Standard BioTools is on track to achieve its long-term growth initiatives.

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Standard BioTools Inc. announced an operational restructuring plan to drive long-term profitable growth, expecting $45-$50 million in annual operating expense savings by fiscal 2025. The plan includes a reduction of approximately 10% of its total workforce, streamlining operational expenditures, and closing the R&D facility in San Diego.
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Standard BioTools Inc. announces a conference call and webcast for the first quarter 2024 financial results on May 8, 2024. The Company will report the financial results after the market closes. The management will discuss the results and operational progress during the conference call and webcast. Interested individuals can listen to the call by dialing specific numbers or accessing the live audio webcast on the Company's website. The webcast will be archived for future reference.
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Standard BioTools Inc. (Nasdaq:LAB) introduces new automation solutions to enhance the Imaging Mass Cytometry workflow on the Hyperion XTi Imaging System, revolutionizing spatial biology in clinical and translational research. The advancements aim to increase sample throughput, provide rapid and detailed spatial analysis, and offer high-throughput tissue imaging capabilities.
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Standard BioTools Inc. (LAB) partners with Bristol Myers Squibb to utilize the SomaScan Platform for clinical trials in multiple therapeutic areas. The platform offers a comprehensive analysis of proteomic biomarkers, aiding in drug response assessment and patient population identification.
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Standard BioTools Inc. (LAB) announces the exchange of Series B Preferred Stock for common stock with Viking Global Investors and Casdin Capital, aiming to streamline capital structure and attract new investors. The exchange resulted in the issuance of approximately 93 million shares of common stock at $2.75 per share, reducing dilution to less than 5%. The Company now has around 382.5 million shares outstanding.
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FAQ

What does Standard BioTools Inc. specialize in?

Standard BioTools specializes in developing and selling advanced mass cytometry and microfluidics technologies to help biomedical researchers accelerate the discovery and development of new medicines.

Where is Standard BioTools Inc. headquartered?

Standard BioTools Inc. is headquartered in South San Francisco, California.

What are the main applications of Standard BioTools' technologies?

Standard BioTools' technologies are primarily used in proteomics and genomics applications, with significant focus areas including oncology, immunology, and immunotherapy.

What recent collaborations has Standard BioTools announced?

Standard BioTools recently announced a multi-year collaboration with Bristol Myers Squibb to use the SomaScan Platform in clinical trials for various therapeutic areas.

What is the Hyperion™ XTi system?

The Hyperion™ XTi system is a new spatial biology tool launched by Standard BioTools that offers rapid and detailed tissue imaging modes, enhancing insights into disease progression and therapeutic responses.

How is Standard BioTools working towards financial sustainability?

Standard BioTools has initiated restructuring plans to save $45-50 million in operational expenses annually by 2025 and streamlined its capital structure by issuing new common stock shares.

What are the geographic markets for Standard BioTools?

Standard BioTools serves a global market, with a majority of its revenue derived from the Americas.

Who are the key customers of Standard BioTools?

Key customers include leading academic institutions, government agencies, pharmaceutical companies, biotechnology firms, and clinical laboratories worldwide.

What benefits do researchers gain from using Standard BioTools' products?

Researchers benefit from simplified experimental workflows, increased throughput, reduced costs, and high-quality data, facilitating significant breakthroughs in human health.

Can Standard BioTools' products be used for diagnostic procedures?

No, Standard BioTools products are provided for research use only and are not intended for use in diagnostic procedures.

Standard BioTools Inc.

Nasdaq:LAB

LAB Rankings

LAB Stock Data

839.00M
370.42M
1.17%
72.04%
3.6%
Analytical Laboratory Instrument Manufacturing
Manufacturing
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United States of America
SOUTH SAN FRANCISCO