MINNEAPOLIS, March 10, 2025 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced that it has begun shipping the Leo™ System, powered by Simple Western™ Technology. Leo expands upon existing Simple Western platforms that offer automated protein size resolution and antibody-based protein detection by dramatically improving sample throughput and enhancing the reproducibility of protein quantitation. Leo offers the throughput and precision of standard ELISAs in a fully automated western blot as ...

Core Viewpoint - CMB.TECH NV has announced the acquisition of approximately 40.4% of Golden Ocean Group Limited's issued share capital through its subsidiary, marking a significant step in its diversification strategy [1][2][3] Group 1: Acquisition Details - CMB.TECH is acquiring 81,363,730 shares of Golden Ocean at a price of 14.49 USD per share, totaling approximately 1.18 billion USD [1] - The shares represent about 40.4% of Golden Ocean's issued share capital and approximately 40.8% of its outstanding shares with voting rights [1] - The transaction is expected to complete on 12 March 2025 and is not subject to any conditions [4] Group 2: Strategic Intent - The acquisition aligns with CMB.TECH's strategic objective of diversification, aiming to become a long-term shareholder in Golden Ocean and invest in a modern dry bulk fleet [2] - CEO Alexander Saverys emphasized the importance of this acquisition as a milestone in the company's diversification strategy and expressed intentions to engage with Golden Ocean's management to drive long-term growth and innovation [3] Group 3: Financial Considerations - CMB.TECH has identified a bank syndicate to refinance all or parts of Golden Ocean's current outstanding debt, indicating proactive financial management in light of the acquisition [4]

Core Viewpoint - Bio-Techne Corporation's partnership with Oxford Nanopore Technologies to launch the AmplideX Nanopore Carrier Plus Kit is expected to enhance its Diagnostics and Spatial Biology segment, despite a recent dip in stock price [1][2][3]. Company Developments - The AmplideX Nanopore Carrier Plus Kit is a new genetic panel designed for carrier screening research, providing a streamlined method for comprehensive sequencing data [1][6]. - Asuragen, a Bio-Techne brand, is recognized for high-quality molecular diagnostic products, and the partnership is anticipated to improve market sentiment towards Bio-Techne's stock [3]. - Bio-Techne has a market capitalization of $9.76 billion, with a Zacks Consensus Estimate indicating a 6.8% year-over-year increase in fiscal 2025 earnings and a 5.5% revenue improvement [4]. Product Significance - The AmplideX Nanopore Carrier Plus Kit addresses the updated ACMG recommendations for carrier screening, allowing for the analysis of genes not detectable by standard short-read sequencing [5]. - The kit includes a panel of 11 genes, such as CFTR and CYP21A2, which are prevalent but challenging to detect with traditional methods [6][7]. Industry Prospects - The global Nanopore Sequencing market is projected to grow from $330.59 million in 2023 to a compound annual growth rate (CAGR) of 18.07% through 2029, driven by increasing demand for DNA sequencing and technological advancements [8].

Core Insights - Cyber Enviro-Tech Inc. (CETI) has established a Turkish subsidiary, Cyber International Ltd (C-INT), to enhance its sludge pond and soil remediation capabilities in Turkey [1] - C-INT has formed a strategic alliance with Delta World Environmental Solutions (DELTA) to facilitate project management and execution in the region [2] - The partnership with DELTA is expected to leverage extensive relationships across Turkey, Africa, and the Middle East, positioning CETI for potential contracts with various overseas companies and government entities [2][3] Company Overview - CETI specializes in eco-conscious remediation of oil, sludge, water, and soil, utilizing bio-remedial materials and proprietary technologies [3] - The company focuses on cleaning contaminated sites, including oil/sludge ponds, storage tanks, and industrial wastewater [3] - CETI employs advanced technologies from the 4th Industrial Revolution, such as machine learning and artificial intelligence, in its remediation processes [3]

Core Insights - The article discusses the challenges faced by Bio-Techne (NASDAQ: TECH) since the peak of life sciences and bioprocessing R&D and capital expenditures [1] Company Analysis - Bio-Techne has experienced a downturn in its performance, reflecting broader trends in the life sciences sector [1] Industry Overview - The life sciences and bioprocessing industry has seen a decline in R&D and capital expenditures since their peak, impacting companies like Bio-Techne [1]

Core Insights - Bio-Techne Corp. has launched an expanded menu of RNAscope in situ hybridization probes to enhance spatial biology research and the development of next-generation therapeutics and diagnostics [1][2] - The new RNAscope probe portfolio includes over 70,000 unique probes across more than 450 species, aimed at providing spatial precision with advanced sensitivity and specificity [1][5] Company Developments - The latest development is expected to significantly enhance Bio-Techne's Diagnostics and Spatial Biology segment [2] - Since the announcement on February 20, Bio-Techne shares have dipped by 0.9%, closing at $64.92, but the company is focused on advancing translational research and precision medicine [3] - Bio-Techne has a market capitalization of $10.26 billion and an earnings yield of 2.9%, which is favorable compared to the industry's -30.1% yield [4] Product and Technology Insights - RNAscope technology is the most referenced in the spatial biology industry, providing a single-cell view of disease pathology and therapeutic response [5] - The expanded RNAscope probe portfolio is designed to accelerate the validation of new RNA biomarkers from single-cell genomics and spatial discovery programs [5][6] - The probes are available for purchase on Bio-Techne's website and can be used with R&D Systems antibodies to illuminate changes in cell phenotypes [6] Industry Prospects - The global spatial genomics and transcriptomics market was valued at $232.5 million in 2022 and is projected to grow at a compound annual growth rate of 12.2% through 2030 [8] - Demand for spatial genomics and transcriptomics is increasing, particularly in drug discovery and development for neurodegenerative disorders and cancer [10] Recent Updates - Bio-Techne has also released the GMP Transposase mRNA for the TcBuster non-viral genome engineering system, supporting the development of immune cell and stem cell-based therapies [11]

Core Insights - Bio-Techne has launched an expanded menu of RNAscope™ in situ hybridization probes, enhancing spatial biology research and the development of next-generation therapeutics and diagnostics [1][3] - The RNAscope technology is recognized as the most referenced in the spatial biology industry, providing detailed insights into disease pathology and therapeutic responses [2] - The expanded RNAscope probe portfolio now includes over 70,000 unique probes across more than 450 species, facilitating the validation of new RNA biomarkers [1][3] Company Overview - Bio-Techne Corporation is a global leader in life sciences, generating approximately $1.2 billion in net sales in fiscal 2024 and employing around 3,100 people worldwide [4] - The company focuses on providing innovative tools and bioactive reagents for research and clinical diagnostics, aiding in drug discovery and accurate clinical testing [4] - The RNAscope probe portfolio has over 12,000 citations in clinical and translational research, underscoring its significance in advancing biomarker validation [4]

Core Insights - Bio-Techne Corporation has officially released GMP Transposase mRNA for the TcBuster™ non-viral genome engineering system, aimed at supporting the development of immune cell- and stem cell-based therapies [1][2] Product Overview - The TcBuster System is designed for introducing large genetic modifications in various cell types, facilitating gene-edited cell therapies such as CAR-T or TCR generation [2][4] - The new GMP transposase enhances the TcBuster system, allowing for the simultaneous delivery of multiple genes while maintaining high editing efficiency and a safer insertional profile [3][4] Competitive Advantages - The non-viral TcBuster system offers significant benefits over traditional lentivirus-based methods, including reduced time to market and lower costs due to the elimination of viral clearance processes [3][4] - Bio-Techne has established a reliable supply chain for both RUO and GMP grade reagents, supporting scalable manufacturing from research to clinical and commercial stages [3] Market Applications - The TcBuster system is compatible with various cell types, including immune and stem cells, and can be utilized for applications such as autologous CAR-T or TCR manufacturing, allogeneic NK therapies, and engineering bioprocessing cell lines for therapeutic biologics production [4] Company Background - Bio-Techne Corporation is a global life sciences company that generated approximately $1.2 billion in net sales in fiscal 2024 and employs around 3,100 people worldwide [6]

Financial Performance - Consolidated net sales increased by 9% to $297.0 million for the quarter ended December 31, 2024, and by 7% to $586.5 million for the six months ended December 31, 2024 compared to the same prior year periods [110]. - Organic revenue for the quarter ended December 31, 2024 increased by 9%, driven by strong performance in the Diagnostics and Spatial Biology portfolio and improving biopharma end market conditions [112]. - Consolidated net earnings for the quarter ended December 31, 2024 rose to $34.9 million, up from $27.5 million in the prior year, while net earnings for the six months decreased to $68.5 million from $78.5 million due to restructuring costs [111]. - Non-GAAP adjusted net earnings for the quarter ended December 31, 2024, were $68.1 million, compared to $63.7 million for the same quarter in 2023, representing a growth of 6.5% [127]. - The diluted earnings per share - adjusted for the quarter ended December 31, 2024, was $0.42, compared to $0.40 for the same quarter in 2023, reflecting a 5% increase [127]. Expenses and Margins - Gross margins for the quarter and six months ended December 31, 2024 were 65.3% and 64.3%, respectively, compared to 64.8% and 65.8% for the same prior year periods [113]. - Selling, general and administrative expenses increased by 5% to $121.5 million for the quarter and by 9% to $240.6 million for the six months ended December 31, 2024, primarily due to restructuring charges [117]. - Research and development expenses rose by 9% to $25.0 million for the quarter and by 4% to $48.9 million for the six months ended December 31, 2024, attributed to strategic growth investments [118]. Segment Performance - Protein Sciences segment net sales increased by 7% to $211.6 million for the quarter and by 3% to $416.1 million for the six months ended December 31, 2024 [120]. - Diagnostics and Spatial Biology segment net sales grew by 12% to $84.1 million for the quarter and by 13% to $167.3 million for the six months ended December 31, 2024 [122]. Taxation - The effective income tax rate was 18.6% for the quarter and 17.5% for the six months ended December 31, 2024, compared to 17.7% and 5.4% for the same prior year periods [124]. - The forecasted consolidated income tax rate for the remainder of fiscal 2025 is expected to range from 23% to 27% [125]. - The non-GAAP adjusted tax rate for the quarter ended December 31, 2024, was 21.5%, compared to 22.0% for the same quarter in 2023 [129]. Cash Flow and Investments - The company generated cash of $148.2 million from operating activities in the six months ended December 31, 2024, an increase from $142.5 million in the same period of 2023, primarily due to favorable timing of payments [135]. - Capital expenditures for fixed assets for the six months ended December 31, 2024, were $16.0 million, down from $28.5 million in the same period of 2023, with expectations of approximately $20 million for the remainder of fiscal 2025 [137]. - The company had cash and cash equivalents of $177.5 million as of December 31, 2024, up from $152.9 million as of June 30, 2024 [131]. - The company paid cash dividends of $25.4 million during the six months ended December 31, 2024, slightly up from $25.2 million in the same period of 2023 [143]. - The company invested $15.0 million into Spear Bio during the six months ended December 31, 2024, with no comparable activity in fiscal 2024 [138]. - The company has $700 million available on its line-of-credit as of December 31, 2024, under a Credit Agreement maturing on August 31, 2027 [132]. - The second part of the forward contract for acquiring Wilson Wolf, estimated at approximately $1 billion, is forecasted to occur between fiscal 2026 and fiscal 2028 [133]. Compliance and Controls - As of December 31, 2024, the Company's disclosure controls and procedures were deemed effective by the CEO and CFO [161]. - There were no changes in internal controls over financial reporting during Q2 of fiscal 2025 that materially affected the Company's reporting [162]. - The Company has not materially changed its exposure to market risk from interest rates and currency exchange rates since the last Annual Report [158]. Legal Matters - As of February 6, 2025, the Company is not involved in any legal proceedings that could materially impact its business or financial condition [164]. Non-GAAP Measures - The Company is reassessing non-GAAP adjustments to ensure they remain relevant and meaningful for performance evaluation [154]. - The Company encourages readers to review reconciliations of adjusted financial measures to GAAP measures in the consolidated financial statements [155].

Core Insights - Bio-Techne reported second-quarter fiscal 2025 adjusted earnings per share (EPS) of 42 cents, exceeding the Zacks Consensus Estimate by 10.5% and improving from 40 cents in the prior year [1][10] - The company's net sales reached $297.0 million, reflecting a 9% year-over-year increase and surpassing the Zacks Consensus Estimate by 4.1% [3][10] - The operating margin expanded significantly by 202 basis points to 16% during the reported quarter [6][10] Financial Performance - Adjusted EPS for the quarter was 42 cents, while GAAP EPS was reported at 22 cents, compared to 17 cents in the same quarter last year [2][10] - Gross profit increased by 9.8% to $193.9 million, with a gross margin of 65.3%, up 50 basis points despite a 7.4% rise in cost of sales [6][10] - Selling, general and administrative expenses rose by 5% to $121.4 million, while research and development expenses totaled $25 million, up 9.2% year over year [6][10] Segment Performance - In the Protein Sciences segment, revenues were $211.6 million, a 7% increase year over year, with an 8% organic growth [4][10] - The Diagnostics and Genomics segment saw sales improve by 12% to $84.1 million, maintaining a 12% organic growth [5][10] Capital Structure - At the end of the second quarter, Bio-Techne had cash and equivalents of $177.5 million, up from $152.9 million at the end of the first quarter [7] - Long-term debt obligations decreased to $300 million from $319 million at the end of the previous quarter [7] Operational Insights - Cumulative net cash provided by operating activities was $148.2 million, compared to $142.5 million a year ago [8] - Management indicated that the start of fiscal 2025 aligned with expectations, highlighting improvements in the biopharma end-market and strong results in the cell and gene therapy business [11][10]