Akoya Biosciences Stock Price, News & Analysis

Akoya Biosciences, Inc. (NASDAQ: AKYA) is known as The Spatial Biology Company®, with a stated mission to bring context to biology and human health through spatial phenotyping. According to company disclosures, Akoya offers single-cell imaging solutions that enable researchers to phenotype cells with spatial context and visualize how they organize and interact in tissue. This work is positioned to help scientists understand disease progression and response to therapy across discovery, translational, and clinical research settings.

Akoya’s business centers on spatial phenotyping platforms and panels. The company describes a "full continuum" of spatial phenotyping solutions, including PhenoCode™ Panels and PhenoCycler®, as well as Phenor® Fusion and Phenor HT instruments. These offerings are used to generate high-plex, high-throughput spatial proteomics and imaging data at the single-cell level. Akoya reports that its technology is adopted in large-scale population studies and cited in a growing number of scientific publications, reflecting use in a range of research areas.

Business focus and technology

Public communications from Akoya emphasize spatial proteomics and single-cell spatial imaging as core capabilities. The company highlights its PhenoCycler-Fusion platform as a foundational spatial proteomics system used in large-scale cancer studies and in collaborations such as the Cancer Grand Challenges-funded project and Enable Medicine’s Pan-Cancer Atlas. Akoya also promotes its PhenoCode Discovery IO60 panel as an ultrahigh-plex immuno-oncology solution for deep immune phenotyping and tumor microenvironment profiling.

Akoya notes that its technology is used to support biomarker discovery, drug development, and translational research. In partnership announcements, the company describes how its panels and instruments are applied to identify predictors of response to immunotherapies, to characterize tumor microenvironments, and to support precision oncology initiatives. These applications are presented as examples of how spatial phenotyping data can inform treatment strategies and research programs.

Biopharma and service offerings

Akoya has disclosed an Advanced Biopharma Services (ABS) offering that provides access to its assays and imaging capabilities as a service. Within this portfolio, the company has announced a multiplex immunofluorescence (mIF) panel designed to support antibody-drug conjugate (ADC) development in breast cancer. This ADC-focused panel includes markers such as HER2, TROP2, Ki-67, ER/PR, and a membrane-localization cocktail, and is described as enabling quantitative assessment of ADC targets with subcellular localization.

According to Akoya, ABS is structured to support translational and clinical teams with assay customization, tissue staining, imaging, analysis, and reporting. The company states that this service capability is anchored in a CLIA-certified laboratory, integrated imaging and analysis workflows, and access to a clinical trial site and contract research organization network. These elements are presented as a way to help biopharma organizations move from discovery to investigational use and diagnostic development.

Collaborations and research ecosystem

Akoya’s public announcements highlight multiple collaborations that illustrate how its platforms are used. For example, the company reports that Team SAMBAI selected PhenoCycler-Fusion as the foundational spatial proteomics platform for a Cancer Grand Challenges-funded study focused on cancer inequities and the creation of a biobank and data repository. In another collaboration, Akoya and the Singapore Translational Cancer Consortium (STCC) are using the PhenoCode Discovery IO60 panel in the SUPER study to examine predictors of PD-1 immunotherapy response in an Asian real-world setting.

Akoya has also announced a collaboration with Enable Medicine to create what the companies describe as the largest commercially available single-cell spatial proteomics atlas. This dataset, built on Akoya’s PhenoCycler-Fusion platform and IO60 panel, is reported to include over 100 million single cells across thousands of samples and multiple cancer types. Akoya presents this atlas as an AI-ready resource for biopharma researchers and model developers who are working on biomarker discovery, drug development, and translational insights.

Financial reporting and installed base

In its first quarter 2025 financial results, Akoya reported revenue composed of product revenue and service and other revenue, reflecting its mix of instrument and service activities. The company disclosed that it is focused on operational discipline and innovation, while navigating macroeconomic and funding-related uncertainty. Akoya also reported an installed base of 1,359 instruments at the end of the quarter, including PhenoCyclers and Phenors, and noted year-over-year growth in this installed base.

Akoya further disclosed that the number of publications citing its technology had increased year over year, indicating broader use of its platforms in the scientific literature. These metrics are presented by the company as indicators of adoption and engagement within the research community, rather than as forward-looking guidance.

Corporate developments and merger with Quanterix

Akoya Biosciences has been the subject of a merger transaction with Quanterix Corporation. According to an Amended and Restated Agreement and Plan of Merger dated April 28, 2025, and subsequent disclosures, Quanterix agreed to acquire Akoya through a stock-and-cash transaction. On July 7, 2025, Akoya reported that its stockholders approved the merger agreement at a special meeting.

On July 8, 2025, Akoya filed a Form 8-K stating that the merger had closed. In this transaction, Wellfleet Merger Sub, Inc., a wholly owned subsidiary of Quanterix, merged with and into Akoya, with Akoya surviving as a wholly owned subsidiary of Quanterix. The filing explains that each share of Akoya common stock outstanding immediately prior to the effective time of the merger (subject to specified exceptions) was converted into the right to receive a combination of Quanterix common stock and cash, subject to certain adjustment mechanisms described in the merger agreement.

In connection with the merger, Akoya disclosed that it repaid and terminated its Credit and Security Agreement, terminated its 2021 Employee Stock Purchase Plan, and provided notice of termination of its Equity Distribution Agreement. The company also reported changes in control, with Akoya becoming a wholly owned subsidiary of Quanterix and its board and executive leadership being reconstituted in line with the merger agreement.

Delisting and reporting status

Following completion of the merger, Akoya initiated steps to remove its common stock from listing on the Nasdaq Global Select Market and to terminate its registration under Section 12(b) of the Securities Exchange Act of 1934. In a Form 8-K dated July 8, 2025, Akoya stated that it had requested that the Nasdaq Stock Market LLC suspend trading in its common stock prior to the opening of trading on that date and file a Form 25 to withdraw the listing and registration of Akoya common stock.

A Form 25 filed by Nasdaq on July 8, 2025 identifies Akoya Biosciences, Inc. as the issuer and the Nasdaq Stock Market LLC as the exchange, and indicates that the common stock is being removed from listing and registration under Section 12(b). Akoya also disclosed its intention to file a Form 15 to terminate the registration of its common stock under the Exchange Act and suspend its reporting obligations under Section 15(d). As a result, AKYA no longer trades on Nasdaq as a standalone listing, and Akoya functions as part of Quanterix’s corporate structure.

Position within the life sciences tools space

Across its public communications, Akoya presents itself as a company operating in the life science tools and spatial biology domain. Its platforms and panels are described as supporting discovery, translational, and clinical research, particularly in oncology and immuno-oncology. The company’s collaborations, installed base, and publication footprint are cited as evidence of its role in enabling spatial phenotyping and proteomics research.

Investors and researchers reviewing AKYA as a historical stock symbol should be aware that, based on SEC filings, Akoya is now a wholly owned subsidiary of Quanterix and its common stock has been delisted from Nasdaq following the completion of the merger on July 8, 2025.