STANDARD BIOTOOLS INC Stock Price, News & Analysis

Standard BioTools Inc. (Nasdaq: LAB) reported a 4%-9% sequential growth in core revenue, reaching $26 million to $27 million in Q4 2022, totaling approximately $94 million to $95 million for the year. The company is on track to achieve over 20% reduction in operating expenses (over $30 million), aiming for positive free cash flow by Q4 2024. With $165 million in cash reserves, Standard BioTools is executing its inorganic strategy and targeting a 65%-68% non-GAAP gross margin by end of 2023.

Standard BioTools Inc. has appointed Betsy Jensen as their new Chief Human Resources Officer, enhancing their management team. This strategic move is aimed at supporting the company's ambitious growth and profitability goals. Jensen, with significant experience at Danaher and Gibraltar, is expected to drive talent acquisition and development, vital for the firm’s success. CEO Michael Egholm emphasized the importance of team culture and leadership in achieving organizational objectives. This appointment reflects Standard BioTools’ commitment to strengthening leadership amid industry competition.

Standard BioTools (Nasdaq:LAB) has authorized a stock buyback of up to $20 million through December 31, 2023. This initiative aims to utilize cash on hand effectively, reflecting confidence in the company’s valuation and alignment with its strategic goals for revenue growth and profitability. The board believes the buyback will enhance shareholder value, although it may be suspended or discontinued at any time. Forward-looking statements indicate potential risks affecting the company's performance and cash balance.

Standard BioTools Inc. (Nasdaq:LAB) announced the grant of equity awards on November 20, 2022, under its 2022 Inducement Equity Incentive Plan to ten new employees. The awards comprise 235,200 restricted stock units (RSUs), with 25% vesting on November 20, 2023, and the remainder vesting quarterly thereafter. This move complies with Nasdaq Listing Rule 5635(c)(4) and aims to attract new talent. Standard BioTools focuses on providing innovative technologies for biomedical research, significantly impacting human health.

Standard BioTools (LAB) reported a strong third quarter, with core product and services revenue rising by 30% sequentially to $24.8 million. The company has initiated a restructuring program, enhancing operating margin by 600 to 800 basis points, equivalent to $8.0 million annually. They aim for a 65-68% non-GAAP gross margin by year-end 2023. Cash reserves stand at $185.2 million as of September 30, 2022, and they project achieving positive free cash flow by the end of 2024.

Standard BioTools has announced a collaboration with Visiopharm to enhance its Imaging Mass Cytometry (IMC) systems. The partnership integrates Visiopharm’s Phenoplex™ software with Standard BioTools' Hyperion™ and Hyperion+™ systems to optimize image processing and spatial pathology analysis. This collaboration aims to streamline workflows, allowing researchers to obtain more detailed biological data efficiently. The integration of AI technology is expected to accelerate insights into tumor microenvironments, improving research outcomes in healthcare.

Standard BioTools Inc. (Nasdaq:LAB) will release its third quarter 2022 financial results on November 8, 2022, after market closure. Following the report, management will conduct a conference call at 2:00 p.m. PT to discuss the results and operational updates. Interested parties can join the call by dialing the provided numbers or through the company's website for a live audio webcast. Standard BioTools aims to enhance human health by providing next-generation technologies to biomedical researchers worldwide.

Standard BioTools Inc. (Nasdaq:LAB) announced that its strategic partner, Ascendas Genomics, has secured approval from the National Medical Products Administration (NMPA) of China for its Biomark™ and Juno™ systems. This approval marks a significant advancement in microfluidics technology within the Chinese molecular diagnostics market. The partnership aims to enhance precision medicine and expand the application of Standard BioTools' technologies, known for their automation, accuracy, and efficiency, catering to the increasing demand in disease risk screening.

Standard BioTools Inc. (Nasdaq: LAB) has launched the X9™ Real-Time PCR System, enhancing genomics capabilities with high efficiency. The X9 can execute over 9,000 nanoliter-volume reactions in a single run, significantly reducing costs and labor by using a microfluidic chip instead of traditional 96 plates. This innovation is designed to meet the evolving needs of agricultural genomics and clinical research, allowing laboratories to optimize their output amid labor shortages. The launch reflects Standard BioTools' commitment to serving specialized markets with advanced technologies.