WALTHAM, Mass., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today announced the grand opening of its Repligen Training & Innovation Center ("RTIC") at its Waltham headquarters. The opening celebration, held on the evening of September 23, attracted a group of over 150 biopharma and CDMO customers. The RTIC buildout, which features product exhibits, purpose-built demonstration areas and technical training space ...

Financial Restatement - The restatement will result in an overstatement of Q1 2023 product revenues by $17.3 million and an understatement of Q4 2023 product revenues by $10.7 million, leading to an aggregate overstatement of $6.6 million for the year ended December 31, 2023[8]. - The anticipated financial impact of the restatement includes an understatement of Q1 2024 product revenues by $1.8 million and Q2 2024 product revenues by $4.8 million[8]. - The company will restate its consolidated financial statements for the year ended December 31, 2023, and for the quarterly periods ended March 31, 2023, June 30, 2023, and September 30, 2023[10]. - The company has not yet finalized the quantification of the income tax expense/benefit impact of the restatement for each respective quarterly or annual period[8]. Revenue Guidance - The company reaffirms its full year 2024 revenue guidance, updating the range to $627 million to $642 million, which includes the previously understated $6.6 million in the first half of 2024[9]. Internal Controls - The company identified a material weakness in internal control over financial reporting related to revenue recognition under ASC 606[11]. - The company is undergoing an internal review to assess the effectiveness of its internal controls and may identify further required changes[11]. Operational Impact - The restatement does not impact the company's overall business operations or previously reported cash and cash equivalent balances[5]. - All open purchase order product units were fully delivered to the customer by June 30, 2024, indicating no anticipated impact of the revenue recognition change beyond this date[7]. One-time Payment - The company received a one-time cash payment of $17.3 million in April 2023 due to the cancellation of two COVID-related non-cancellable product purchase orders[6].

WALTHAM, Mass., Aug. 23, 2024 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today announced that it will be presenting at the Wells Fargo Healthcare Conference being held September 4-6 in Boston. Olivier Loeillot, President and Chief Executive Officer will participate in an analyst-led discussion on Friday, September 6, at 8:45 a.m. ET. A live webcast of the conference presentation will be accessible through Repligen's Investo ...

The bioprocessing market is preparing for a recovery. The bioprocessing market is about to recover. That's the conclusion from Repligen's (RGEN -1.00%) secondquarter earnings report released earlier in the week and the reason for the stock's 17.7% ascendancy in the week to Friday morning. Repligen and Danaher are seeing budding shoots of recovery A positive view of Repligen's recovery is supported when examining Danaher's recent results, released a week earlier. Danaher is a much larger company selling life ...

Repligen Corporation RGEN reported in-line earnings for its second quarter on Tuesday. The company posted second-quarter sales of $154.1 million, almost in line with the consensus estimate of $154.12 million. The company reported an adjusted EPS of 33 cents, which is in line with the consensus but below $0.53 reported a year ago. Tony J. Hunt, CEO of Repligen, said, "We delivered solid second-quarter revenue of $154 million and first-half revenue of $305 million, achieving our year-to-date sales target. We ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Table of Contents Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7 PART II - OTHER INFORMATION Item 4. Mine Safety Disclosures 38 PART I – FINANCIAL INFORMATION The accompanying notes are an integral part of these condensed consolidated financial statements. 3 | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------- ...

Repligen Corporation [RGEN] Q2 2024 Earnings Conference Call July 30, 2024 8:30 AM ET Company Participants Tony Hunt - CEO Jason Garland - CFO Olivier Loeillot - President & CCO Sondra Newman - IR Conference Call Participants Rachel Vatnsdal - J.P. Morgan Dan Arias - Stifel Jacob Johnson - Stephens Inc. Puneet Souda - Leerink Partners Justin Bowers - Deutsche Bank Matt Larew - William Blair Conor McNamara - RBC Capital Markets Dan Leonard - UBS Paul Knight - KeyBanc Matt Hewitt - Craig-Hallum Capital Group ...

Repligen (RGEN) came out with quarterly earnings of $0.33 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this drug developer would post earnings of $0.29 per share when it actually produced earnings of $0.28, delivering a surprise of -3.45%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Repligen, which belongs to t ...

Core Insights - Repligen Corporation reported second quarter revenue of $154 million, a decrease of 3% compared to $159 million in the prior year, with first half revenue totaling $305 million, aligning with expectations [1][5][13] - The company announced a definitive agreement to acquire Tantti Laboratory Inc., enhancing its Proteins and Chromatography segments [3] - The transition of CEO Tony J. Hunt to Executive Chair and the appointment of Olivier Loeillot as the new CEO will take effect on September 1, 2024 [5] Financial Performance - Cash, cash equivalents, and short-term investments increased to $809 million as of June 30, 2024, up from $751 million at the end of 2023 [4] - GAAP income from operations was $1 million, down from $19 million, while adjusted income from operations was $16 million compared to $29 million in the prior year [8][34] - GAAP net income decreased to $3 million from $20 million, with adjusted net income at $19 million compared to $30 million [26][36] Margins and Guidance - Adjusted gross margin for Q2 2024 was 49.6%, slightly down from 50.2% in Q2 2023, while operating margin dropped to 10.1% from 18.5% [10][27] - The company narrowed its revenue guidance for fiscal year 2024 to a range of $620 million to $635 million, reflecting a year-over-year decline of 3% to 1% [18] - Adjusted earnings per share guidance remains unchanged at $1.42 to $1.49 for the full year [18] Business Highlights - The company experienced a 5% year-over-year increase in sales for new modalities, with a book-to-bill ratio greater than 1.1 [15] - New product launches, including the DurA Cycle affinity resin, are expected to strengthen the Proteins business [6] - Continued strength in pharmaceutical demand and a resurgence in CDMO activity were noted as positive indicators for future growth [5]

Proposed acquisition adds novel macroporous chromatography base bead technology for downstream bioprocess applications Accelerates expansion into new modality markets with a unique, scalable purification solution Strongly synergistic with AVIPure® affinity ligands and OPUS® pre-packed chromatography columns Tantti's DuloCore® technology platform combines the high throughput performance of membranes with the rapid mass transfer of monoliths in a convenient and flexible bead format. Combined with AVIPure affi ...