Akoya Biosciences Shares Jump on 2024 Outlook, Thermo Fisher Deal
09 January 2024 - 7:57AM
Dow Jones News
By Dean Seal
Shares of Akoya Biosciences rose after the company provided its
2024 outlook, gave preliminary fourth-quarter expectations and
announced an agreement with Thermo Fisher Scientific.
The stock was up 20% at $5.20 in Monday trading. Shares traded
at $9.93 a year ago.
The spatial biology company it expects full-year revenue to grow
more than 20% in 2024 and for projects to achieve cash flow
breakeven by the end of the year.
For the fourth quarter of 2023, the company expects revenue to
be $25.5 million to $26.5 million, up from $21.2 million in the
year-ago quarter and in line with analyst expectations.
Akyoya said it has signed a license and distribution agreement
with Thermo Fisher allowing it to market the combination of Akoya's
spatial biology solutions with the Thermo Fisher ViewRNA in situ
hybridization assays for detecting protein and RNA biomarkers in
tissue samples.
The agreement should facilitate a streamlined workflow for
whole-slide, multiomic imaging, with protein and RNA biomarkers
playing complementary roles in defining cell phenotypes and cell
states, the company said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 08, 2024 15:42 ET (20:42 GMT)
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