Cytek Biosciences, Inc. (Nasdaq: CTKB) today announced that William
(Bill) McCombe has been appointed chief financial officer of the
company effective immediately. McCombe brings experience as a
public company CFO at both large scale, and smaller, high growth
technology companies. He was CFO at Velo3D, a leader in metal 3D
printing systems for the aerospace and other industries, CFO at
HZO, a leader in delivering protective nano coatings for
electronics, and EVP and CFO at Maxar Technologies, a
multi-billion-dollar revenue satellite and space imaging
company.
McCombe has significant experience in financial management,
public company reporting and operational finance, and a proven
track record of driving growth and building high-performance teams.
He also brings deep expertise in mergers, acquisitions, and capital
markets transactions with a career of more than 20 years as an
investment banker, where he was a Managing Director at Morgan
Stanley and at Bank of America. McCombe earned an MBA from Columbia
University, and Bachelor of Laws and Bachelor of Commerce degrees
from the University of Melbourne.
“Bill's wealth of experience in finance, combined with his
strategic approach, expertise in public company dynamics, and
transformational leadership skills, uniquely positions him to drive
our corporate objectives.” stated Dr. Wenbin Jiang, Cytek's
Chairman and CEO. “We are confident in his ability to partner with
us in steering Cytek towards sustainable growth and long-term value
creation.”
“Cytek is globally recognized as a leader in cell analysis
solutions,” said McCombe. “I am excited by the opportunity to join
such an innovative company and play a meaningful role in charting
the next chapter of the company’s continued success. I believe
there is tremendous growth potential at Cytek, and I look forward
to the journey ahead.”
As CFO, McCombe will lead Cytek’s global finance organization
and financial activities including accounting and controllership,
financial planning and analysis, tax, investor relations, internal
audit, mergers and acquisitions, and treasury. McCombe will be
based in Cytek’s Fremont, California headquarters.
McCombe succeeds Patrik Jeanmonod, who has been appointed as the
company’s head of corporate development analytics. Jeanmonod served
as Cytek’s chief financial officer since 2018.
Jiang expressed, “I would like to thank Patrik for what he has
accomplished at Cytek. He has played an instrumental role in the
growth of Cytek during a transformational period, developing the
financial strategy and planning behind multiple transactions and
programs as well as key finance initiatives. We are thankful for
Patrik’s tremendous contributions to Cytek over the years and we
look forward to his continued contributions under his new
role.”
2024 Outlook Reaffirmed
Cytek also reaffirms its previously stated full year 2024
revenue guidance of $203 million to $213 million, representing
growth of 5% to 10% over Cytek’s 2023 total revenue, and its
expectation of positive net income for the year ended December 31,
2024, assuming no change in currency exchange rates.
About Cytek Biosciences, Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading cell analysis
solutions company advancing the next generation of cell analysis
tools by delivering high-resolution, high-content and
high-sensitivity cell analysis utilizing its patented Full Spectrum
Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the
power of information within the entire spectrum of a fluorescent
signal to achieve a higher level of multiplexing with precision and
sensitivity. Cytek’s FSP platform includes its core instruments,
the Cytek Aurora™ and Northern Lights™ systems; its cell sorter,
the Cytek Aurora™ CS; the Cytek Orion™ reagent cocktail preparation
system; the flow cytometer and imaging products under the Amnis®
and Guava® brands; and reagents, software and services to provide a
comprehensive and integrated suite of solutions for its customers.
Cytek is headquartered in Fremont, California with offices and
distribution channels across the globe. More information about the
company and its products is available at www.cytekbio.com.
Cytek’s products are for research use only and not for use in
diagnostic procedures (other than Cytek’s Northern Lights-CLC
system and certain reagents, which are available for clinical use
in China and the European Union).
Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Northern
Lights, Cytek Orion, Amnis and Guava are trademarks of Cytek
Biosciences, Inc.
In addition to filings with the Securities and Exchange
Commission (SEC), press releases, public conference calls and
webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn page
and X (formerly Twitter) account as channels of distribution of
information about its company, products, planned financial and
other announcements, attendance at upcoming investor and industry
conferences and other matters. Such information may be deemed
material information and Cytek may use these channels to comply
with its disclosure obligations under Regulation FD. Therefore,
investors should monitor Cytek’s website, LinkedIn page, and X
account in addition to following its SEC filings, news releases,
public conference calls and webcasts.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
as contained in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are subject to the “safe harbor” created by those
sections. All statements, other than statements of historical
facts, may be forward-looking statements. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as “may,” “might," "will,”
“should,” “expect,” “plan,” “anticipate,” “could,” “intend,”
“target,” “project,” “contemplate,” “believe,” “estimate,”
“predict,” “potential” or “continue” or the negatives of these
terms or variations of them or similar terminology, but the absence
of these words does not mean that a statement is not
forward-looking. These forward-looking statements include
statements regarding the Company’s growth, growth potential, future
success and long-term value creation; and Cytek’s expectations that
total revenue for the full year ended December 31, 2024 will be in
the range of $203 million to $213 million, assuming no change in
currency exchange rates, and positive net income for the full year
ended December 31, 2024. These statements are based on management’s
current expectations, forecasts, beliefs, assumptions and
information currently available to management. These statements
also deal with future events and involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from the
information expressed or implied by these forward-looking
statements. Factors that could cause actual results to differ
materially include global economic and market conditions; Cytek's
ability to evaluate its prospects for future viability and predict
future performance; Cytek’s ability to accurately forecast customer
demand and adoption of its products; Cytek’s ability to recognize
the anticipated benefits of collaborations; Cytek’s dependence on
certain sole and single source suppliers; competition; market
acceptance of Cytek’s current and potential products; Cytek’s
ability to manage the growth and complexity of its organization,
maintain relationships with customers and suppliers and retain key
employees; Cytek’s ability to maintain, protect and enhance its
intellectual property; and Cytek’s ability to continue to stay in
compliance with its material contractual obligations, applicable
laws and regulations. You should refer to the section entitled
“Risk Factors” set forth in Cytek’s Annual Report on Form 10-K
filed with the SEC on March 13, 2024, and other filings Cytek makes
with the SEC from time to time for a discussion of important
factors that may cause actual results to differ materially from
those expressed or implied by Cytek’s forward-looking statements.
Although Cytek believes that the expectations reflected in the
forward-looking statements are reasonable, it cannot provide any
assurance that these expectations will prove to be correct nor can
it guarantee that the future results, levels of activity,
performance and events and circumstances reflected in the
forward-looking statements will be achieved or occur. The
forward-looking statements in this press release are based on
information available to Cytek as of the date hereof, and Cytek
disclaims any obligation to update any forward-looking statements
provided to reflect any change in its expectations or any change in
events, conditions, or circumstances on which any such statement is
based, except as required by law. These forward-looking statements
should not be relied upon as representing Cytek’s views as of any
date subsequent to the date of this press release.
Media Contact:Stephanie OlsenLages &
Associates(949) 453-8080stephanie@lages.com
Investor Relations Contact:Paul D. GoodsonHead
of Investor Relationspgoodson@cytekbio.com
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