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Standard BioTools Inc. reports developments in life-science research tools built around proprietary mass cytometry and microfluidics technologies. The company sells instruments, consumables and services for genomics, single-cell proteomics and spatial proteomics, including platforms such as Biomark X9, CyTOF XT and Hyperion systems used in research workflows.
Recurring news includes operating and financial results, capital-structure updates, shareholder voting and governance matters, portfolio actions following the completed sale of SomaLogic assets, and collaborations that expand imaging mass cytometry and multi-omic research applications. Company updates also describe translational and clinical research use cases in oncology, immunology and immunotherapy, with products positioned for research use rather than diagnostic procedures.
Standard BioTools Inc. (NASDAQ: LAB) has announced its plans to report third quarter 2024 financial results on Wednesday, October 30, 2024, after market close. The company will host a conference call and webcast at 1:30 p.m. PT, 4:30 p.m. ET on the same day to discuss the results and operational progress.
Interested individuals can join the call by dialing (888) 346-3970 for US domestic callers or (412) 902-4297 for international callers. A live audio webcast will be available on the company's Investor Relations page. The webcast will be archived for future access on Standard BioTools' Investor Relations page at investors.standardbio.com.
Standard BioTools Inc. (Nasdaq:LAB) has announced an expansion of its SomaScan® 11K Platform, now including protein measurements on a broader range of sample types such as cerebrospinal fluid (CSF), aqueous humor, tissue homogenates, and cell lysates. This platform provides 11,000 protein measurements simultaneously from sample volumes as low as 55 µl, covering half of the human proteome in a single assay.
The expansion supports translational medicine by advancing research in disease causation, clinical pharmacology, and drug development. The platform's high precision, with a median coefficient of variation around 5%, offers more statistical power for discoveries. This update is particularly beneficial for oncology and neurology research, allowing matched samples to plasma in various sample types.
Services for these new sample types are available from Standard BioTools' CAP/CLIA-certified Services Lab in Boulder, Colorado, and from SomaScan® Authorized Sites globally.
Standard BioTools Inc. (Nasdaq:LAB) announced a study published in Nature Scientific Reports that utilized their SomaScan® Assay and SomaSignal™ tests to analyze blood serum samples from patients in a Phase 2a clinical trial for nonalcoholic fatty liver disease (NAFLD) and nonalcoholic steatohepatitis (NASH). The study identified 69 blood biomarkers correlating with clinical measures of liver disease.
Researchers used the 7,000-protein biomarker panel to infer liver biopsy effects and identify additional mechanistic pharmacodynamic protein biomarkers. The SomaSignal tests helped stratify patients by disease severity, establish pre-treatment baselines, and monitor drug effects. The study demonstrated the utility of these tests for NASH classification and treatment-induced effects on steatosis.
Standard BioTools Inc. (Nasdaq:LAB) has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York City. The company's President and CEO, Michael Egholm, PhD, will present at a fireside chat on Friday, September 6, 2024, at 8:30 a.m. ET.
The presentation will be webcast live on the company's Investor Relations page under Events & Presentations. A recording of the webcast will also be archived and available for later viewing at investors.standardbio.com. This conference, running from September 4th to 6th, provides Standard BioTools with an opportunity to showcase its developments and engage with industry professionals and investors.
Standard BioTools Inc. (Nasdaq:LAB) has announced its management team's participation in two upcoming investor conferences in August 2024. The events are:
1. Canaccord Genuity 44th Annual Growth Conference on August 13th, where President and CEO Michael Egholm, PhD, will participate in a fireside chat at 9:00 a.m. ET.
2. UBS Genomic Medicine Summit on August 14th, where Dr. Egholm will join a panel discussion titled 'Expanding Horizons - Spatial and Beyond' at 2:00 p.m. PT.
Available presentations will be webcast live on the company's Investor Relations page. Recordings will be archived and accessible at investors.standardbio.com.
Standard BioTools (Nasdaq: LAB) announced key leadership changes. Jeffrey Black, CFO, will resign on August 31, 2024. Alex Kim, COO and co-founder, will serve as interim CFO starting September 1, 2024. Sean Mackay, recently appointed Chief Business Officer, will expand his role to include product management, marketing, and investor relations. Mackay, former CEO of IsoPlexis, brings experience in funding rounds and IPOs. CEO Michael Egholm expressed confidence in Kim's ability to lead as interim CFO and welcomed Mackay's expanded role. The company has initiated a search for a permanent CFO. These changes come as Standard BioTools prepares for its next growth phase, with the leadership team focused on executing the company's strategic plan.
Standard BioTools (NASDAQ: LAB) reported Q2 2024 financial results with revenue of $37.2 million, up 34% year-over-year. The company revised its FY2024 revenue guidance to $170-175 million and remains on track for break-even adjusted EBITDA in 2026. Key highlights include:
- Accelerated merger synergies with $80 million expected to be operationalized in 2024
- Current balance sheet of $396 million in cash and investments
- Q2 gross margin of 40.1% and non-GAAP gross margin of 45.0%
- Q2 operating loss of $50.5 million and net loss of $45.7 million
- Adjusted EBITDA loss of $31.0 million in Q2
The company faced challenges with SomaScan® services contract delays and instrument sales impacted by a constrained capital purchase environment. Standard BioTools remains focused on cost structure optimization and executing its strategic vision.
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.
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.
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.