Standard BioTools

Standard BioTools Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, February 28, 2024

Standard BioTools will host a conference call and webcast today at 1:30 p.m. PT, 4:30 p.m.

Key Points: 
  • Standard BioTools will host a conference call and webcast today at 1:30 p.m. PT, 4:30 p.m.
  • ET, to discuss fourth quarter and full year 2023 financial results and operational progress as well as to provide additional color on its strategic actions.
  • The non-GAAP financial measures included in this press release are non-GAAP gross margin, non-GAAP operating expenses, and adjusted EBITDA.
  • Standard BioTools encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliations between these presentations, to more fully understand its business.

Standard BioTools and Next Gen Diagnostics Announce Partnership to Provide Complete Automation of Low-Cost Pathogen Sequencing

Retrieved on: 
Monday, February 26, 2024

Under the exclusive agreement, Standard BioTools™ will manufacture the NGD-100, a version of its microfluidics-based Biomark™ X9 System customized for NGD and optimized for automated pathogen WGS library preparation.

Key Points: 
  • Under the exclusive agreement, Standard BioTools™ will manufacture the NGD-100, a version of its microfluidics-based Biomark™ X9 System customized for NGD and optimized for automated pathogen WGS library preparation.
  • These systems will enable the cost efficiencies, flexibility and proven analytical performance that laboratories need to meet the increasing demands of pathogen testing.
  • “Standard BioTools’ microfluidics technology represents over 20 years of continuous refinement,” commented Michael Egholm, President and CEO of Standard BioTools.
  • “We have worked closely with NGD to develop this strategic partnership between our companies,” noted Alex Kim, Chief Operating Officer of Standard BioTools.

Standard BioTools and Navignostics Announce Collaboration Agreement to Advance Imaging Capabilities in Personalized Medicine

Retrieved on: 
Wednesday, February 7, 2024

Founded in 2022, Navignostics is dedicated to revolutionizing personalized diagnostics for cancer patients.

Key Points: 
  • Founded in 2022, Navignostics is dedicated to revolutionizing personalized diagnostics for cancer patients.
  • As part of the agreement, Standard BioTools will support the development of Navignostics assays by collaborating on various aspects of protocols and instrument and software features.
  • Additionally, both Navignostics and Standard BioTools plan to leverage their learnings to advance the science of IMC by co-publishing and presenting at scientific conferences in the coming year.
  • Standard BioTools disclaims any obligation to update these forward-looking statements except as may be required by law.

Standard BioTools Announces Preliminary Fourth Quarter and Full Year 2023 Revenue

Retrieved on: 
Monday, January 8, 2024

SOUTH SAN FRANCISCO, Calif., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (Nasdaq: LAB) (Standard BioTools or the Company), driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health, today announced Standard BioTools and SomaLogic, Inc. preliminary and unaudited revenue results for the fourth quarter and full year 2023.

Key Points: 
  • SOUTH SAN FRANCISCO, Calif., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (Nasdaq: LAB) (Standard BioTools or the Company), driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health, today announced Standard BioTools and SomaLogic, Inc. preliminary and unaudited revenue results for the fourth quarter and full year 2023.
  • Standard BioTools expects fourth quarter 2023 revenue of approximately $28 million and full year 2023 revenue of approximately $106 million.
  • The Company’s preliminary full year 2023 revenue results represent growth of over 10% in core revenue1 driven by over 40% growth in instrument revenue, in each case as compared with 2022.
  • SomaLogic expects fourth quarter 2023 revenue of approximately $23 million and full year 2023 revenue of approximately $86 million.

Standard BioTools Completes Merger with SomaLogic, Creating a Diversified and Scaled Leader in Life Sciences Tools

Retrieved on: 
Friday, January 5, 2024

Each SomaLogic stockholder will receive 1.11 shares of Standard BioTools common stock for each share of SomaLogic common stock owned.

Key Points: 
  • Each SomaLogic stockholder will receive 1.11 shares of Standard BioTools common stock for each share of SomaLogic common stock owned.
  • “This is an exciting day as we officially bring together the innovative multi-omic technologies and incredible talent of Standard BioTools and SomaLogic to create one company that is a diversified leader in life sciences tools,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools.
  • Delivering additional meaningful value creation opportunities through a proven model that couples deep large-enterprise life sciences expertise and operating discipline.
  • Carlos Paya, Laura Clague and Martin Madaus – who served on the Standard BioTools Board until the closing of the merger – have resigned from the Standard BioTools Board.

Standard BioTools Stockholders Approve Merger with SomaLogic

Retrieved on: 
Friday, January 5, 2024

SOUTH SAN FRANCISCO, Calif., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (Nasdaq: LAB), driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health, today announced that its stockholders voted to approve all proposals required to be approved in connection with the pending merger with SomaLogic (Nasdaq: SLGC) at its Special Meeting of Stockholders.

Key Points: 
  • SOUTH SAN FRANCISCO, Calif., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (Nasdaq: LAB), driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health, today announced that its stockholders voted to approve all proposals required to be approved in connection with the pending merger with SomaLogic (Nasdaq: SLGC) at its Special Meeting of Stockholders.
  • “We are pleased with the outcome of today’s Special Meeting and thank our stockholders for their support for this merger,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools.
  • “Together with SomaLogic, we will have an expanded platform to better serve our customers and we believe we will be able to deliver significant shareholder value through enhanced scale and a strengthened balance sheet to fuel future growth.”
    Standard BioTools will file the final vote results, as certified by the independent inspector of election, on a Form 8-K with the U.S. Securities and Exchange Commission.
  • The merger is expected to close on January 5, 2024, subject to satisfaction of certain customary closing conditions.

Glass Lewis Recommends Standard BioTools Stockholders Vote “FOR” All Proposals Relating to Proposed Merger with SomaLogic

Retrieved on: 
Friday, December 29, 2023

We urge all stockholders to follow these recommendations and vote “FOR” all proposals relating to the proposed merger.

Key Points: 
  • We urge all stockholders to follow these recommendations and vote “FOR” all proposals relating to the proposed merger.
  • A special meeting of Standard BioTools stockholders is scheduled to be held virtually in connection with the proposed merger on January 4, 2024, at 12:00 p.m.
  • Standard BioTools stockholders who need assistance voting or have questions regarding the Special Meeting may contact Standard BioTools’ proxy solicitor, Alliance Advisors LLC, at (800) 574-5969.
  • The merger remains on track to close in the first quarter of 2024, subject to approval by SomaLogic and Standard BioTools stockholders and satisfaction of other customary closing conditions.

ISS Recommends Standard BioTools Stockholders Vote “FOR” All Proposals Relating to Proposed Merger with SomaLogic

Retrieved on: 
Friday, December 22, 2023

We are pleased with ISS’ recommendation and look forward to completing the merger in the first quarter of 2024.

Key Points: 
  • We are pleased with ISS’ recommendation and look forward to completing the merger in the first quarter of 2024.
  • A special meeting of Standard BioTools stockholders is scheduled to be held virtually in connection with the proposed merger on January 4, 2024, at 12:00 p.m.
  • Standard BioTools stockholders who need assistance voting or have questions regarding the Special Meeting may contact Standard BioTools’ proxy solicitor, Alliance Advisors LLC, at (800) 574-5969.
  • The merger remains on track to close in the first quarter of 2024, subject to approval by SomaLogic and Standard BioTools stockholders and satisfaction of other customary closing conditions.

ISS Recommends SomaLogic Stockholders Vote “FOR” Proposed Merger with Standard BioTools

Retrieved on: 
Friday, December 22, 2023

BOULDER, Colo., Dec. 22, 2023 (GLOBE NEWSWIRE) -- SomaLogic, Inc., a leader in proteomics technology, today announced that Institutional Shareholder Services (“ISS”) has recommended that SomaLogic stockholders vote “FOR” the pending merger with Standard BioTools at the company’s Special Meeting of Stockholders to be held on January 4, 2024.

Key Points: 
  • BOULDER, Colo., Dec. 22, 2023 (GLOBE NEWSWIRE) -- SomaLogic, Inc., a leader in proteomics technology, today announced that Institutional Shareholder Services (“ISS”) has recommended that SomaLogic stockholders vote “FOR” the pending merger with Standard BioTools at the company’s Special Meeting of Stockholders to be held on January 4, 2024.
  • Commenting on the ISS recommendation, SomaLogic issued the following statement:
    SomaLogic is pleased that ISS shares its belief that the merger with Standard BioTools is in the best interests of all SomaLogic stockholders and supports the Board’s recommendation that stockholders vote “FOR” the transaction.
  • The transaction with Standard BioTools delivers compelling long-term stockholder value, and SomaLogic urges all SomaLogic stockholders to follow the ISS recommendation by voting “FOR” the value maximizing transaction on the SomaLogic proxy card.
  • The merger remains on track to close in the first quarter of 2024, subject to approval by SomaLogic and Standard BioTools stockholders and satisfaction of other customary closing conditions.

SomaLogic Issues Letter to Stockholders Reiterating Recommendation for Value Maximizing Merger with Standard BioTools

Retrieved on: 
Thursday, December 21, 2023

BOULDER, Colo., Dec. 21, 2023 (GLOBE NEWSWIRE) -- SomaLogic, Inc. (Nasdaq: SLGC) today issued an open letter to stockholders highlighting the value maximizing merger entered into with Standard BioTools (Nasdaq: LAB) on October 4, 2023. The Company also filed an investor presentation, which can be found on the investor page of SomaLogic’s website at https://investors.somalogic.com/static-files/daa110f7-0cc3-4eaf-ba78-e0c....

Key Points: 
  • On January 4, 2024, we are holding our Special Stockholder Meeting to vote on our proposed merger with Standard BioTools – a merger that we believe is in the best interests of all SomaLogic stockholders.
  • Thank you for your support,
    The Company urges all stockholders to vote “FOR” the value maximizing transaction on the SomaLogic proxy card today.
  • A special meeting of SomaLogic stockholders is scheduled to be held virtually in connection with the proposed merger on January 4, 2024, at 12 p.m.
  • The merger remains on track to close in the first quarter of 2024, subject to approval by SomaLogic and Standard BioTools stockholders and satisfaction of other customary closing conditions.