Welcome to our dedicated page for SomaLogic news (Ticker: $SLGC), a resource for investors and traders seeking the latest updates and insights on SomaLogic stock.
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Madryn Asset Management, LP (Madryn) disclosed that SomaLogic, Inc. (SLGC) failed to engage with Labcorp, a leading strategic partner, before pursuing a merger with Standard BioTools. Madryn calls for a delay of the shareholder meeting due to concerns about maximizing value in the sale process.
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End-of-Day
7.54%
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Madryn Asset Management, LP (Madryn) issues a letter to Institutional Shareholder Services, Inc. (ISS) expressing concerns about the proposed merger between SomaLogic, Inc. (SLGC) and Standard BioTools Inc. (LAB). The letter highlights that the merger consideration assigns no value or premium to SomaLogic's assets, representing a material discount to the company's cash. It also emphasizes that the combined entity's proforma capital structure and corporate governance would subordinate SomaLogic's existing shareholders to conflicted insiders, including hedge fund manager Eli Casdin. Madryn underscores SomaLogic's identified value catalysts and $450+ million in cash, mitigating the need for a conflict-ridden and rushed merger that harms the company's common shareholders.
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Tikvah Management, a significant shareholder of Somalogic (Nasdaq: SLGC), with voting rights for 5.9 million shares, intends to vote against the Company’s proposed merger with Standard BioTools Inc. (Nasdaq: LAB). Tikvah believes the proposed merger is not in the best interest of Somalogic shareholders, citing undervaluation of shares, inadequate merger process, and poor quality of Standard BioTool’s business and balance sheet.
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Madryn Asset Management, LP (Madryn) reiterates its view that there is a viable alternative to the proposed merger between SomaLogic, Inc. (SLGC) and Standard BioTools Inc. (LAB). They believe that SomaLogic's cash position and near-term commercial opportunities mitigate the need for the merger, and they urge shareholders to vote against it.
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SomaLogic, Inc. (Ticker: SLI) urges stockholders to vote 'FOR' the pending merger with Standard BioTools at the upcoming Special Meeting of Stockholders on January 4, 2024. Institutional Shareholder Services (ISS) has recommended the merger, citing the strategic rationale of combining two sub-scale companies to slow down cash burn and accelerate the path to profitability. The all-stock structure of the transaction provides shareholders with an opportunity to benefit from potential upside.
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Madryn Asset Management, LP (Nasdaq: SLGC) comments on troubling connections and ongoing business relationships among members of SomaLogic Transaction Committee and Eli Casdin and Casdin Capital in relation to the proposed merger with Standard BioTools Inc. The additional disclosures provided by SomaLogic late yesterday afternoon, after being sued by two separate shareholders, raise significant skepticism about the merger. The Company's Board of Directors was aware of the business relationships between members of the SomaLogic Board, Casdin Capital, and Eli Casdin, which were not considered to represent a conflict of interest with respect to the Proposed Merger.
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1.53%
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SomaLogic, Inc. (Nasdaq: SLGC) issues an open letter to stockholders highlighting the value maximizing merger with Standard BioTools (Nasdaq: LAB) on October 4, 2023. The merger aims to deliver compelling long-term upside, accelerate path to profitability, and maximize value for stockholders.
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3.77%
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Madryn Asset Management, LP (Madryn) urges SomaLogic Inc. (Nasdaq: SLGC) shareholders to vote 'AGAINST' the proposed merger with Standard BioTools Inc. (Nasdaq: LAB). Madryn holds approximately 4.2% of SomaLogic's outstanding common stock and has published a list of key questions shareholders should ask the Board of Directors regarding the Proposed Merger.
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End-of-Day
7.69%
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SomaLogic, Inc. (Ticker: SLI) reports $22.0 million in revenue, reflecting 14% year-over-year growth, excluding NEB royalty revenue. Cash and investments exceed $450 million. Full year 2023 revenue guidance raised to $82-85 million. Management to host conference call at 4:30pm ET. SomaLogic, a leader in proteomics technology, shows solid execution and increasing commercial activity.
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10.78%
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SomaLogic Inc. has launched its high-plex proteomics platform, the SomaScan 11K Platform, which provides 11,000 total protein measurements. This is the largest proteomics offering on the market and is expected to enhance biomarker and drug target discovery. The platform offers a broader view of the human proteome, giving researchers more opportunities for unique biological discoveries. It maintains high accuracy with fewer, smaller samples, making it valuable for population studies with limited sample sizes.
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-1.35%
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SomaLogic, Inc.
Nasdaq:SLGC
SLGC Rankings
SLGC Stock Data
396.23M
153.26M
2.16%
61.71%
3.79%
Testing Laboratories
Professional, Scientific, and Technical Services
US
Boulder
About SLGC
revolutionizing proteomics to transform healthcare somalogic was founded in 2000 with the goal of improving the well-being and quality of life of every individual by transforming how diseases were detected and diagnosed. building on the previous decade of aptamer research, somalogic scientists have developed a new proteomics technology that overcomes the significant challenges of current technologies, and which has multiple applications across the biological and medical sciences. our mission is to leverage our proprietary technology to discover, develop and commercialize revolutionary new life science research tools and breakthrough clinical diagnostic products that will transform healthcare. if you would like to learn more about somalogic, contact us at information@somalogic.com or 303-625-9000