The Dow Jones index closed higher by around 0.2% on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform. MariaDB The Trade: MariaDB plc MRDB 10% owner Investment Management, LLC b ...

Cash and Cash Equivalents - Cash and cash equivalents increased to $269.8 million as of June 30, 2024, compared to $51.7 million as of December 31, 2023[10] - Total cash, cash equivalents, and restricted cash stood at $271.1 million as of June 30, 2024, with $269.8 million in cash and cash equivalents and $1.3 million in restricted cash[64] Total Current Assets - Total current assets rose to $480.0 million as of June 30, 2024, up from $158.2 million as of December 31, 2023[10] Accounts Receivable - Accounts receivable, net increased to $32.4 million as of June 30, 2024, compared to $19.7 million as of December 31, 2023[10] - Accounts receivable, net, amounted to $32.4 million as of June 30, 2024, with trade receivables at $28.1 million and royalty receivable at $4.8 million[65] Inventory - Inventory grew to $42.6 million as of June 30, 2024, up from $20.5 million as of December 31, 2023[10] - Inventory totaled $58.9 million as of June 30, 2024, with raw materials at $49.3 million, work-in-process at $0.6 million, and finished goods at $9.0 million[66] Total Liabilities - Total liabilities increased to $198.5 million as of June 30, 2024, compared to $159.9 million as of December 31, 2023[10] Stockholders' Equity - Stockholders' equity improved to $510.3 million as of June 30, 2024, from a deficit of $148.1 million as of December 31, 2023[10] - Total stockholders' equity (deficit) as of June 30, 2024, stood at $510.261 million[14] - Total stockholders' equity (deficit) as of June 30, 2023, was $(113.387) million[15] Additional Paid-in Capital - Additional paid-in capital surged to $1,682.5 million as of June 30, 2024, up from $860.8 million as of December 31, 2023[10] Accumulated Deficit - Accumulated deficit increased to $1,124.6 million as of June 30, 2024, compared to $1,000.8 million as of December 31, 2023[10] Deferred Revenue - Deferred revenue, non-current rose to $33.4 million as of June 30, 2024, up from $3.5 million as of December 31, 2023[10] - Deferred revenue at June 30, 2024, totaled $48.5 million, with $2.3 million from NEC, $30.0 million from Illumina, and $16.2 million from other sources[59] Acquired Intangible Assets - Acquired intangible assets, net increased to $24.1 million as of June 30, 2024, compared to $1.4 million as of December 31, 2023[10] - Acquired intangible assets, net, amounted to $24.1 million as of June 30, 2024, with developed technology accounting for $18.9 million of the total[62] - Future expected amortization expense of acquired intangible assets is projected to be $24.1 million, with $1.4 million in the remainder of 2024 and $11.3 million thereafter[63] Revenue - Total revenue for Q2 2024 increased to $37.205 million, up 34.5% from $27.666 million in Q2 2023[11] - Services revenue surged to $14.053 million in Q2 2024, a 141.5% increase from $5.821 million in Q2 2023[11] - Revenue for Q2 2024 was $37.2 million, a 34.5% increase from $27.7 million in Q2 2023, driven by growth in product and service revenue[53] - Product revenue for Q2 2024 was $22.2 million, with SomaScan® assay kits contributing $6.3 million, while service revenue reached $14.1 million, primarily from assay services[53] - Geographic revenue breakdown for Q2 2024: Americas $19.8 million, EMEA $10.5 million, and Asia-Pacific $6.8 million, showing significant growth in the Americas region[53] - Total revenue for the six months ended June 30, 2024, was $82.7 million, with Proteomics contributing $64.4 million and Genomics contributing $18.4 million[110] Net Loss - Net loss for Q2 2024 widened to $45.718 million, compared to $17.040 million in Q2 2023[11] - Comprehensive loss for Q2 2024 was $45.426 million, compared to $17.263 million in Q2 2023[13] - Net loss for the six months ended June 30, 2024, was $77.875 million, compared to $33.883 million for the same period in 2023[16] - Net loss per share for the six months ended June 30, 2024, was $(0.37), compared to $(0.43) in the same period in 2023[103] Research and Development Expenses - Research and development expenses rose to $19.222 million in Q2 2024, a 210.9% increase from $6.184 million in Q2 2023[11] Stock-Based Compensation - Stock-based compensation expense for Q2 2024 was $6.730 million[14] - Stock-based compensation expense for the six months ended June 30, 2024, was $18.341 million, compared to $6.262 million for the same period in 2023[16] - Stock-based compensation expense for the six months ended June 30, 2024, was $6.2 million due to the acceleration of awards for certain SomaLogic executives[97] - Stock-based compensation expense for the six months ended June 30, 2024, totaled $18.3 million, a significant increase from $6.3 million in the same period in 2023[101] Repurchase of Common Stock - Repurchase of common stock in Q2 2024 amounted to $29.439 million[14] - Repurchase of common stock for the six months ended June 30, 2024, amounted to $40.490 million, compared to $4.841 million for the same period in 2023[16] - The company repurchased 13,603,617 shares of common stock for $36.1 million under the 2024 Share Repurchase Program[94] - The company repurchased 15,448,533 shares of common stock during the six months ended June 30, 2024, compared to 2,458,684 shares in the same period in 2023[105] Merger and Acquisition - The Company completed the merger with SomaLogic on January 5, 2024, exchanging each share of SomaLogic common stock for 1.11 shares of the Company's common stock[18] - Merger consideration included 26,367 shares of common stock issued to a related party[14] - Cash and restricted cash acquired in the Merger amounted to $280.033 million[16] - The merger consideration totaled approximately $444.2 million, including $419.2 million in fair value of common stock issued and $26.9 million in replacement equity awards[42] - Total consideration for the SomaLogic merger was $444.2 million, with total assets acquired valued at $533.3 million and liabilities assumed at $63.9 million, resulting in a bargain purchase gain of $25.2 million[44] - SomaLogic contributed $38.6 million in revenue and a $29.0 million loss for the period from January 6, 2024, to June 30, 2024, and $14.7 million in revenue with a $13.7 million loss for Q2 2024[52] Fair Value Measurements - Fair value measurements are categorized into three levels: Level 1 (quoted prices in active markets), Level 2 (observable inputs), and Level 3 (unobservable inputs requiring significant judgment)[24] - Total assets measured at fair value as of June 30, 2024 were $158.607 million, including $33.705 million in money market funds and $124.902 million in U.S. treasury securities[87] - Total assets measured at fair value as of December 31, 2023 were $98.576 million, including $35.385 million in money market funds and $63.191 million in U.S. treasury securities[88] - Total available-for-sale securities as of June 30, 2024, amounted to $158.654 million, with unrealized losses of $47 thousand[89] - The fair value of warrant liabilities decreased from $906 thousand to $453 thousand as of June 30, 2024[90] - Warrant liabilities were valued using a binomial lattice model with a volatility of 70.2% and a risk-free rate of 4.62% as of June 30, 2024[91] Restructuring and Related Charges - Restructuring and related charges include employee separation costs, contract termination costs, and other costs associated with implementing restructuring plans[22] - Restructuring charges for the six months ended June 30, 2024, amounted to $10.0 million, primarily due to workforce reduction and integration costs[112] - The company reduced its workforce by approximately 10% as part of a strategic reorganization aimed at reducing operating costs and focusing on long-term growth opportunities[112] - Total restructuring and related charges for the three months ended June 30, 2024, were $5,749 thousand, compared to $2,267 thousand in the same period in 2023[114] - Corporate expenses for restructuring were $5,749 thousand in Q2 2024, up from $1,829 thousand in Q2 2023[114] - Total restructuring and related charges for the six months ended June 30, 2024, were $10,033 thousand, compared to $3,417 thousand in the same period in 2023[114] Property and Equipment - Property and equipment, net, amounted to $42.6 million as of June 30, 2024, with laboratory and manufacturing equipment accounting for $58.7 million of the gross value[68] Accrued Liabilities - Accrued liabilities totaled $31.9 million as of June 30, 2024, with accrued compensation and related benefits at $14.0 million and accrued restructuring at $3.7 million[69] Lease Obligations - Total lease cost for six months ended June 30, 2024 was $5.539 million, including $5.098 million in operating lease costs and $2.593 million in variable lease costs[77] - Undiscounted lease payment maturities total $48.226 million, with present value of future minimum lease payments at $35.468 million[78] - Weighted average remaining lease term is 5.3 years with a weighted average discount rate of 11.9%[79] Open Commitments - Open commitments totaled $18.5 million as of June 30, 2024, including $6.9 million related to the Illumina Agreement[80] Litigation Settlement - Company settled litigation with former SomaLogic stockholders for $6.2 million, including repurchase of 1.84 million shares at $2.40 per share[85] Stock Issuance and Repurchase - The company exchanged 255,559 shares of Series B Preferred Stock for 92,930,553 shares of common stock, resulting in a $46.0 million difference recognized in accumulated deficit[92][93] - As of June 30, 2024, the company had reserved 42,306 thousand shares of common stock for future issuance under equity compensation plans[95] - The total intrinsic value of options exercised during the six months ended June 30, 2024, was $0.3 million[99] - Aggregate unrecognized compensation costs related to outstanding unvested options were $27.2 million as of June 30, 2024[99] - Performance-based restricted stock units (PSUs) granted in July 2023 vested in April 2024, with 309,000 units at a weighted-average fair value of $2.42 per unit[100] Income Tax - The company recorded income tax expense of $0.2 million for the six months ended June 30, 2024, a decrease from $0.6 million in the same period in 2023[106] - The company's effective tax rate differs from the 21% U.S. Federal statutory rate due to valuation allowances against deferred tax assets and tax rate differences between the U.S. and foreign countries[107] Depreciation and Amortization - Depreciation and amortization expenses for the six months ended June 30, 2024, totaled $9.1 million, with Proteomics accounting for $5.3 million and Genomics for $747,000[111] Warrant Liabilities - The company assumed warrant liabilities totaling 5,519,991 Public Warrants and 5,013,333 Private Placement Warrants, classified as liabilities on the balance sheet[37] Licensing Agreements - The Illumina Agreement includes a $30.5 million transaction price and $124.5 million in minimum guaranteed royalties, with $30.4 million allocated to a material right for SOMAmer reagent purchases[54][55] - The adjusted transaction price for the Illumina Agreement is $158.4 million, with $127.9 million in expected royalties from 2025 to 2032[56] - The NEC joint development agreement includes $2.3 million in deferred revenue, expected to be fully recognized by March 31, 2025[57] - The New England Biolabs licensing agreement guarantees $8.9 million in fixed minimum royalties through September 2025, with $8.2 million in royalties receivable as of June 30, 2024[58] - Expected revenue from unfulfilled performance obligations is $20.6 million, with $8.1 million expected in the remainder of 2024, $7.7 million in 2025, $3.3 million in 2026, and $1.5 million thereafter[60] Business Combinations - Business combinations are accounted for using the acquisition method, with identifiable assets and liabilities measured at fair value, and any excess purchase price recognized as goodwill[25] Software Development Costs - Software development costs for internal-use software are capitalized during the application development stages and amortized over the estimated useful life, typically three years[26] - Capitalized software costs for products to be sold are amortized over three years using the straight-line method, with ongoing assessments of recoverability based on anticipated future revenues[28] Revenue Recognition - Revenue is recognized when control of goods or services is transferred to the customer, with transaction price allocated based on relative standalone selling prices (SSP)[29] - Product revenue is recognized at the point of shipment or arrival at the customer's facility, with no unilateral right of return for customers[31] - Service revenue from SomaScan® assays is recognized when the analysis data or report is delivered to the customer, with no volume discounts or refunds[32] - Collaboration revenue is recognized as the company satisfies its obligations, with payments for research and development activities analogized to ASC 606[34] Shareholder Transactions - Eli Casdin received 3,807 shares of common stock, 3,807 restricted stock units, and 144,088 options in connection with the Merger[115] - Casdin Partners Master Fund, L.P. and Casdin Private Growth Equity Fund, L.P. received 11,246,525 and 2,744,219 shares of common stock, respectively, in the Merger[115] - CMLS Holdings II LLC received 7,548,000 shares of common stock and warrants to receive 4,824,802 shares upon exercise in the Merger[115] - Eli Casdin may be deemed to have beneficially received 26,515,248 shares of common stock in the Merger, including shares issuable upon vesting of RSUs and exercise of options and warrants[116] - On March 18, 2024, Casdin and its affiliates converted Series B-1 Preferred Stock into 46,465,458 shares of the Company's common stock[116]

Standard BioTools Inc. (NASDAQ:LAB) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants David Holmes - IR Michael Egholm - President and CEO Jeff Black - CFO Conference Call Participants Matt Stanton - Jefferies Dan Brennan - TD Cowen Paul Knight - KeyBanc Operator Good day and welcome to the Standard BioTools Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now li ...

Standard BioTools (LAB) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -33.33%. A quarter ago, it was expected that this company that makes equipment to control fluids would post a loss of $0.09 per share when it actually produced a loss of $0.23, delivering a surprise of -155.56%. Over the ...

Exhibit 99.1 Standard BioTools Reports Second Quarter 2024 Financial Results Delivered revenue of $37.2 million Accelerated merger synergies with $80 million expected to be operationalized in 2024 Revised FY2024 revenue guidance; on-track to achieve anticipated break-even adjusted EBITDA for full-year 2026 Current balance sheet of $396 million cash, cash equivalents, restricted cash and short-term investments SOUTH SAN FRANCISCO, Calif., July 31, 2024 -- Standard BioTools Inc. ("Standard BioTools" or the "C ...

Alex Kim, Chief Operating Officer and Standard BioTools Co-Founder, to Serve as interim Chief Financial Officer Following Departure of Jeffrey Black on August 31, 2024 Industry Veteran Sean Mackay Named Chief Business Officer SOUTH SAN FRANCISCO, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. ("Standard BioTools" or the "Company") (Nasdaq: LAB) today announced that Jeffrey Black, Chief Financial Officer, will resign from the Company, effective August 31, 2024, to accept an opportunity at a ...

MEXICO CITY, July 22, 2024 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), a leading company in the pharmaceutical and personal care industry in Mexico with a growing international presence, announces that it has secured a long-term credit line, refinanced financial liabilities, and obtained the release of real estate collateral tied to existing loans. Long-Term Credit Line with BANCOMEXT The Company secured an amortizable credit line of MXN $1,500 mil ...

US domestic callers: (888) 346-3970 Outside US callers: (412) 902-4297 Investor Contact: SOUTH SAN FRANCISCO, Calif., July 17, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. ("Standard BioTools" or the "Company") (Nasdaq: LAB) today announced that it will report second quarter 2024 financial results on Wednesday, July 31, 2024, after the close of the market. The Company's management will host a conference call and webcast at 1:30 p.m. PT, 4:30 p.m. ET, on July 31, 2024, to discuss second quarter 2024 finan ...

SOUTH SAN FRANCISCO, Calif., July 17, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. ("Standard BioTools" or the "Company") (Nasdaq: LAB) today announced that it will report second quarter 2024 financial results on Wednesday, July 31, 2024, after the close of the market. US domestic callers: (888) 346-3970 Outside US callers: (412) 902-4297 The Company's management will host a conference call and webcast at 1:30 p.m. PT, 4:30 p.m. ET, on July 31, 2024, to discuss second quarter 2024 financial results and o ...

This dividend per share represents an increase of 2% when compared to the dividend from the previous quarter, as a result of the cancellation of 20 million shares approved at the last AGSM. Note on Forward-Looking Statements This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, withou ...