VANCOUVER, British Columbia, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV) a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies and Variational AI, developer of the Enki™ generative artificial intelligence (AI) platform for drug discovery, announced today a research collaboration aimed at leveraging each company's expertise to identify and develop novel small-molecule therapies against DNA-damage response (DDR) t ...

Could this beaten-down stock turn things around in the near future? If a stock is down more than 90% during the past year, you know there's something seriously wrong with the underlying business. Things have gotten so bad for biotech company Ginkgo Bioworks Holdings (DNA 2.29%) that it recently had to do a 1-for-40 reverse stock split to keep its share price up and stay listed on the New York Stock Exchange. It has been in the midst of a stunning free fall as investors appear to have lost patience with the ...

OAKLAND, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the Northern District of California Oakland Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of Ginkgo Bioworks Holdings, Inc. common stock (NYSE: DNA): NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION TO: ALL PERSONS WHO (1) purchased or otherwise acquired shares in Ginkgo Bioworks Holdings, Inc. ("Ginkgo," includ ...

The risks may resolve in a year or so but seizing the opportunities will take longer. When a stock you own is struggling to retain value, it pays to know what new problems might lie awaiting in its future. To have the conviction to retain your shares through a dip, you'll also need to appreciate the upcoming opportunities that might make your patience worth the while. Ginkgo Bioworks (DNA -5.64%) is facing a pair of big risks right now, but it also has a pair of big opportunities that could be enough to tur ...

The company is using artificial intelligence, and planning to help others use AI empowered by its data collection. Ginkgo Bioworks (DNA -5.64%) is a biotech that's going big on artificial intelligence (AI). Between its need to perform core workflows with high efficiency, and its generation of tons of biological and manufacturing data that demand analysis, Ginkgo will likely find AI becoming more important to it over time. That's especially true if it starts selling a key input that other biopharma companies ...

Maravai LifeSciences Holdings, Inc. (MRVI) , through its subsidiaries Cygnus Technologies and TriLink BioTechnologies, has announced the launch of AccuRes Host Cell DNA Quantification Kits. This latest launch blends Cygnus' advanced extraction techniques with TriLink's cutting-edge CleanAmp dNTPs technology. The AccuRes kits offer increased sensitivity and specificity in detecting host cell DNA, ensuring the production of biotherapeutics that meet and exceed the most rigorous regulatory standards. Maravai L ...

In a report released in October 2021, Scorpion Capital alleged Ginkgo Bioworks Holdings Inc of being a "colossal scam", claiming that the company, at a $23 billion valuation, was ridiculously overpriced. Former employees cited in this short report claimed that 9 out of 10 projects launched by the company since its inception have failed. Ginkgo shares crashed 12% on the same day the report was released. Investor sentiment deteriorated further when the Department of Justice launched an investigation into the ...

Core Viewpoint - Ginkgo Bioworks faces significant challenges with its ambitious business model, leading to a drastic stock decline of 88% over the past year, and the potential for either continued struggles or a turnaround in the next couple of years [1][2]. Optimistic Case - The optimistic scenario suggests that Ginkgo could successfully reduce costs and improve customer traction within 24 months, aiming to break even on adjusted EBITDA by the end of 2026 [3][5]. - The company plans to cut annual cash burn by $200 million, with current operating expenses at $852.2 million and Q2 operating losses of $223 million [4]. - Revenue expectations for 2024 are projected at $190 million, down from $251 million in 2023, with potential growth resuming in 2025 and 2026 as successful programs attract more customers [5][6]. Pessimistic Case - The pessimistic outlook indicates ongoing struggles to reduce overhead and program costs, potentially leading to a scaling back of the biomanufacturing platform and loss of niche revenue [7]. - Ginkgo currently holds $730 million in cash, but with tight cash flow relative to expenses, it may need to refuse costly programs and could face financial distress [8]. - The company has no long-term debt but carries $452.2 million in capital lease obligations, which may necessitate new debt or stock issuance, adversely affecting share price [9]. Realistic Assessment - Despite having notable clients in biopharma and agriculture, Ginkgo has not consistently grown revenue, with a slight increase in active programs but lower revenue and losses in Q2 [10]. - The addition of programs has not led to economies of scale that would reduce servicing costs sufficiently for breakeven [11]. - Without significant efficiency improvements, the stock is unlikely to trend upward, and the next probable direction is down until management meets its adjusted EBITDA goal for 2026 [12].

Applied DNA Sciences, Inc. APDN stock traded higher on Friday on a strong session volume of 114.23 million, compared to the average volume of 6.78 million, according to data from Benzinga Pro. The PCR-based DNA technologies submitted a validation package to the New York State Department of Health (NYSDOH) to expand the permitted use of its Linea Mpox Virus 1.0 Assay to include both mpox clade I and clade II. The company's validation studies concluded that the Assay's primers and probe have 100% homology to ...

The Good Brigade/DigitalVision via Getty Images In recent years, you won't find many names that have done worse than cell programming and biosecurity company Ginkgo Bioworks (NYSE:DNA). The company has continued to miss lofty revenue growth targets, leading to its shares losing almost all of their value. Now that management is trying to turn things around and two major negative catalysts are behind us, it's time to see if this company can finally get on track. Previous coverage of the name I've been bearish ...