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Olink Holding AB (Nasdaq: OLK) announced a significant achievement with Sequanta Technologies, which has successfully completed extended concordance testing on Olink’s platforms, Olink® Target 48/96 and Olink® Explore. This validation, conducted in partnership with a global pharmaceutical company, marks Sequanta as China's first service provider to pass such rigorous testing. The initiative aims to improve access to high-quality Olink proteomic data critical for drug development in local markets, particularly given regulatory challenges in sample transportation.
Olink Holding AB (Nasdaq: OLK) has announced leadership changes to support its growth strategy. Carl Raimond will transition from Chief Commercial Officer to President, while a new CCO is expected by year-end. Anna Marsell is appointed Chief Operating Officer, starting December 1, 2022, bringing extensive experience from Galderma. Current COO Fredrik Netzel becomes VP Operations, focusing on supply chain management. CEO Jon Heimer lauded the changes as vital for Olink's evolution and market leadership in proteomics.
Olink Holding AB (Nasdaq: OLK) will participate in several upcoming investor conferences. The schedule includes the Goldman Sachs Medtech and Healthcare Services Conference on September 7 at 6:30 am ET, the Morgan Stanley Healthcare Conference on September 12 at 11:40 am ET, and the Nordea Life Science Tools Day on September 21 at 9:30 am ET. Webcasts of the events will be available in the 'Events' section of the company's website. Olink focuses on advancing proteomics in partnership with the scientific community to enhance patient outcomes.
Olink Holding AB (Nasdaq: OLK) reported Q2 2022 revenue of $27.5 million, marking a 56% increase year-over-year. Explore revenue contributed $18.5 million, accounting for 67% of total revenue. The company's adjusted EBITDA was ($7.9) million, while the net loss was ($4.8) million, an improvement from ($10.6) million in Q2 2021. Olink reaffirms its 2022 revenue guidance between $138 million and $145 million, anticipating stronger performance in H2. The company continues to invest in commercial and R&D efforts to drive growth and profitability.
Olink Holding AB (Nasdaq: OLK) will release its Q2 2022 financial results on August 11, 2022, prior to market opening. A conference call hosted by company management is scheduled for 8:00 am ET to discuss these results. Interested investors can register online for the call, with a recommendation to do so at least one day in advance. A live webcast will be available on the company's website and archived for 90 days for later viewing.
Olink Holding AB (Nasdaq: OLK) launched Olink® Analyze 3.1, an R software package designed to enhance data analysis for its products. The update includes new features such as non-parametric statistical testing functions for absolute quantification, heatmap functions, and pathway enrichment functionalities. These enhancements aim to facilitate quicker insights and streamline the data analysis process across various Olink products, including Target 48 and Explore 3072. The software is accessible via the Comprehensive R Archive Network, underscoring Olink's commitment to improving service for its customers.
Olink Holding AB (Nasdaq: OLK) announced the publication of early findings from the UK Biobank Pharma Proteomics Project on bioRxiv. The study analyzed data from over 54,000 participants, identifying 10,248 primary genetic associations related to 1,463 proteins. Notably, 85% of these associations are newly reported. The findings provide a comprehensive genetic atlas of the plasma proteome, which may enhance disease understanding and accelerate biomarker development. CEO Jon Heimer highlighted the significance of this research in harnessing next-generation proteomics for improving health.
Olink Holding AB announced that the Erasmus Medical Center in Rotterdam has become the first certified Olink Explore laboratory in the Netherlands. This partnership aims to utilize Olink technology for multi-omics approaches to enhance disease understanding and therapy development. The facility will measure proteins across therapeutic areas, facilitating precision medicine efforts by integrating genomics with large-scale proteomics. This advancement is expected to support studies on chronic inflammation and infection, particularly in HIV research, enhancing the identification of biomarkers and disease pathways.
Olink Holding AB (Nasdaq: OLK) announced its participation in the FinnGen project, a large-scale study in Finland aimed at improving human health through analyzing genomic and health data from 500,000 biobank participants. Olink's advanced proteomics technology will provide detailed data from 2,500 individuals, which is expected to yield insights into disease mechanisms. The partnership highlights Olink's high-quality, trustworthy technology as critical for personalized medicine and future health innovations.
Element Biosciences has commenced shipping its AVITI systems to initial customers, which include major core labs and genome centers in the US. This follows the commercial launch of the AVITI System in March. Key highlights include the introduction of the AVITI 150-Cycle Sequencing Kit, priced at $1,080, and a bundled pricing option of $249,000 for three or more units. Additionally, ElemBio Capital Solutions has been launched to provide financing options. These strategic moves reflect Element's commitment to making high-quality genomic tools more accessible.