Harvard Biosci Stock Price, News & Analysis

Harvard Bioscience, Inc. (NASDAQ: HBIO) is a developer, manufacturer and seller of technologies, products and services that support life science applications. According to the company’s disclosures, its tools are used in research, drug and therapy discovery, bio‑production and preclinical testing for pharmaceutical and therapy development. Harvard Bioscience operates in the analytical laboratory instrument manufacturing industry within the broader manufacturing sector.

The company states that its customers include academic institutions, government laboratories, pharmaceutical companies, biotechnology firms and contract research organizations. These organizations use Harvard Bioscience products in fundamental life science research and in workflows related to pharmaceutical and therapy development. The company sells to customers around the world through a combination of direct sales and distribution channels.

Business focus and product scope

Harvard Bioscience describes itself as a developer, manufacturer and seller of technologies, products and services that enable advances in life science applications. Its primary focus is on scientific instruments and related technologies that support laboratory and preclinical work. The company has indicated in public information that it offers specialized laboratory equipment, and the Polygon data notes product brands such as Harvard Apparatus, DSI, Buxco, Biochrom, BTX, Heka, Hugo Sachs and Panlab. These brands reflect a portfolio of tools used in life science research and preclinical testing.

In a recent news release, Harvard Bioscience also referred to itself as a provider of laboratory equipment. In that context, the company highlighted distribution of pumps, spectrophotometers and BTX electroporation systems through a partner, as well as access to technologies including the Mesh MEA (Microelectrode Array) for organoid research. In another release, the company mentioned emerging adoption of its MeshMEA organoid systems and SoHo telemetry systems by academic and biopharma customers. These references illustrate the types of life science tools and platforms the company associates with its business, particularly in preclinical and translational research.

End markets and geographic footprint

Harvard Bioscience reports that its customers range from renowned academic institutions and government laboratories to pharmaceutical, biotechnology and contract research organizations. These users apply the company’s technologies in research, drug and therapy discovery, bio‑production and preclinical testing. The company notes that it has operations in the United States, Europe and China and that it sells to customers worldwide. Sales are made both directly and through distribution partners, reflecting a multi‑channel commercial approach.

Based on Polygon data, the company generates a significant portion of its revenue from the United States. At the same time, its stated operations in Europe and China and its global distribution arrangements indicate exposure to international life science research markets.

Capital structure and financing developments

Harvard Bioscience’s recent SEC filings and press releases describe several material events related to its financing and listing status. On December 17, 2025, the company entered into a Loan and Security Agreement with lenders and BroadOak Income Fund, L.P., as administrative agent. This agreement provides for three term loans: a Term A Loan, a Term B Loan and a Term C Loan. The Term A and Term B loans are senior secured obligations maturing on December 17, 2029, with quarterly principal amortization payments beginning on December 31, 2027, and potential one‑year extensions of the amortization and maturity dates if an adjusted EBITDA milestone is achieved.

The Term C Loan is described as a senior secured convertible term loan maturing on the same date and convertible, together with accrued and unpaid interest, into shares of the company’s common stock at a conversion price of $1.00 per share during a specified period. The filing notes that conversion may occur at the lenders’ option or automatically if the share price of the common stock exceeds a specified level for a defined period. The proceeds of the term loans are to be used to repay obligations under a prior credit facility, pay transaction fees and expenses, and provide working capital and other general corporate purposes.

In connection with this financing, the company issued warrants to purchase 2,000,000 shares of common stock at an exercise price of $0.50 per share, with a seven‑year term, and agreed to file a registration statement covering the resale of shares issuable upon conversion of the Term C Loan and exercise of the warrants. The loan agreement also grants the administrative agent the right to nominate one member to the company’s board of directors while the term loans are outstanding, and the board appointed a BroadOak partner as a director and member of the compensation committee effective December 17, 2025.

Earlier in 2025, Harvard Bioscience entered into a Sixth Amendment to its existing credit agreement with Citizens Bank, N.A. and other lenders. That amendment, described in an August 11, 2025 Form 8‑K, waived certain events of default related to refinancing milestones and financial covenants as of June 30, 2025, and temporarily suspended testing of specified financial covenants subject to conditions, including minimum liquidity requirements and reporting obligations. The amendment also increased the applicable interest rate margin and added mandatory prepayment provisions tied to refinancing or sale transactions. In that filing, the company stated that it was exploring alternative sources of capital and noted substantial doubt about its ability to continue as a going concern absent additional capital or an extension of repayment dates under the credit agreement.

Nasdaq listing and compliance matters

Harvard Bioscience’s common stock is registered under Section 12(b) of the Securities Exchange Act of 1934 and is listed on The Nasdaq Stock Market under the symbol HBIO. In an October 3, 2025 Form 8‑K, the company reported that it received a notification letter from the Nasdaq Listing Qualifications Department granting an additional 180‑day period, until March 30, 2026, to regain compliance with the Nasdaq minimum bid price requirement of $1.00 per share. To obtain this second compliance period, the company applied to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market, and the application was approved. The filing states that the common stock continues to trade under the symbol HBIO and that the Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Market.

The same filing explains that if the bid price of the common stock closes at $1.00 per share or more for at least ten consecutive business days before March 30, 2026, Nasdaq staff would provide written confirmation of compliance, subject to its discretion. If the company does not regain compliance by the end of the second compliance period, the common stock would become subject to delisting, with the possibility of an appeal. The company indicated that it intends to monitor the closing bid price and consider options to regain compliance, including a potential reverse stock split, while noting that there can be no assurance of success.

In separate June 2025 filings, Harvard Bioscience disclosed that it was not in compliance with the Nasdaq audit committee composition requirement due to a vacancy following a director’s resignation. The company reported that it plans to rely on the cure period provided under Nasdaq rules, which allows time until the earlier of the next annual meeting of stockholders or one year from the resignation date to restore compliance by appointing a qualifying independent director to the audit committee.

Corporate governance and board developments

During 2025, Harvard Bioscience reported several changes in its board of directors and senior leadership. In June 2025, the company appointed John Duke to its board and named a lead independent director. In July 2025, the company announced a CEO succession plan under which John Duke would assume the role of President and Chief Executive Officer following the planned retirement of the then‑serving President, CEO and Chairman. The company indicated that Mr. Duke had prior experience in life science tools and related industries.

In September 2025, Harvard Bioscience reported the appointment of Stephen DeNelsky to its board of directors as a Class I director and member of the nominating and governance committee. The company’s December 17, 2025 Form 8‑K then described the appointment of William A. Snider, a partner at BroadOak, as a Class III director and member of the compensation committee in connection with the new loan agreement. These board changes reflect the company’s ongoing efforts to address governance, financing and strategic matters, as described in its public filings.

Recent operating performance (structural context only)

Harvard Bioscience has reported its financial results for multiple quarters in 2025 through press releases furnished on Form 8‑K. These releases provide details on revenues, gross margin, net loss, adjusted EBITDA and cash flows from operations for the first, second and third quarters of 2025, along with related guidance. While specific figures are time‑sensitive and may change in future periods, the company’s communications emphasize themes such as managing its capital structure, focusing on cost control, and supporting its life science tools platforms.

In these communications, the company has highlighted customer engagement across its platforms, backlog levels, and the use of non‑GAAP measures to provide additional perspective on operating performance. It has also discussed the impact of goodwill impairment on reported results and described efforts to refinance or amend its credit facilities, as reflected in the 2025 8‑K filings.

Summary

Overall, Harvard Bioscience, Inc. describes itself as a life science tools company that develops, manufactures and sells technologies, products and services used in research, drug and therapy discovery, bio‑production and preclinical testing. It serves a global base of academic, government, pharmaceutical, biotechnology and contract research customers, with operations in the United States, Europe and China and sales through direct and distribution channels. Recent SEC filings and press releases provide additional context on its capital structure, Nasdaq listing compliance, governance changes and reported financial results.