Core Insights - Bio-Techne Corporation has entered into a licensing agreement with Monod Bio, granting exclusive commercial rights to a subset of Monod's NovoBody™ Duo molecules, which are AI-designed bispecific binding proteins [1][2] - This partnership aims to enhance scientific progress through innovative AI-powered designs, improving customization, stability, and performance for better therapeutic development [2] - The collaboration aligns with Bio-Techne's strategic growth initiatives and reinforces its position in AI-enabled innovation, a significant trend in global healthcare transformation [2][5] Company Overview: Bio-Techne - Bio-Techne is a global life sciences company that provides innovative tools and bioactive reagents for research and clinical diagnostics, generating over $1.2 billion in net sales in fiscal 2025 [3] - The company employs approximately 3,100 individuals worldwide and offers a vast portfolio of products to assist in scientific investigations and drug discovery [3] Company Overview: Monod Bio - Monod Bio is a Seattle-based biotechnology company that specializes in AI-powered protein design, creating novel protein binders and biosensors for research and diagnostic applications [4] - The company operates under a "Monod Inside" business model, partnering with leading organizations to bring next-generation products to market [4]

Core Insights - ClearBridge Investments reported that mid-cap stocks experienced growth in Q3 2025, driven by a favorable monetary policy environment and stabilizing earnings [1] - The Federal Reserve's rate cuts positively impacted small and mid-cap stocks, with value stocks outperforming growth stocks [1] - The ClearBridge Mid Cap Strategy outperformed the Russell Midcap Index, primarily due to stock selection in the consumer staples and healthcare sectors [1] Company-Specific Insights - Bio-Techne Corporation (NASDAQ:TECH) has a market capitalization of $9.57 billion and focuses on life science reagents, instruments, and services [2] - The stock of Bio-Techne Corporation saw a one-month return of -0.32% and a 52-week decline of 15.36%, closing at $61.40 on November 12, 2025 [2] - ClearBridge initiated a new position in Bio-Techne, citing its high-margin consumables and instrumentation portfolio as key factors for its appeal as a growth-oriented investment [3] Financial Performance - In Q1 2026, Bio-Techne Corporation reported revenues of $286.6 million, reflecting a 1% year-over-year decline on both an organic and reported basis [4] - Despite the potential of Bio-Techne as an investment, the company is not among the most popular stocks among hedge funds, with 37 hedge fund portfolios holding its stock at the end of Q2 2025 [4]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Bio-Techne 2025 Conference Summary Company Overview - **Company**: Bio-Techne (NasdaqGS: TECH) - **Event**: 2025 Steeple Healthcare Conference - **Date**: November 11, 2025 Key Points Financial Performance - **Organic Revenue Decline**: Bio-Techne reported a 1% organic revenue decline in Q1, primarily due to two large customers who had previously ordered high volumes of GMP proteins [6][10] - **GMP Proteins**: The decline was attributed to a 200 basis point headwind from these customers, who had fast-track FDA approvals and did not require new orders this quarter [6][10] - **Underlying Growth**: Excluding the impact of these two customers, the underlying growth was in the low single digits, around 1% [6][10] Market Dynamics - **End Markets**: - **Academic Market**: Challenging but showing positive signs, particularly in grants aligning with research areas [7][19] - **Biotech Market**: Constrained funding but some positive momentum due to increased M&A and licensing activity [7][8] - **Pharma Market**: Large pharma showed double-digit growth, stabilizing despite concerns over tariffs [8][10] - **China Market**: Achieved a second consecutive quarter of positive growth [8][10] Growth Projections - **GMP Growth Rate**: Expected to recover to over 20% in recovering markets, with potential for higher growth as more customers progress to commercial stages [14][15] - **Academic Market Recovery**: Anticipated mid to high single-digit growth as funding stabilizes and research activity normalizes [24][25] - **Pharma Growth**: Expected to continue double-digit growth, with Bio-Techne aiming to grow at twice the rate of pharma budget increases [28][25] Product Performance - **Spatial Business**: Experienced pressure but showed improvement, with double-digit order growth for the Luna4 instrument [30][41] - **Simple Western**: Continued strong performance with growth rates of 15%-20%, driven by demand from cell and gene therapy applications [49][51] Operational Insights - **Visibility in GMP Business**: Increased customer base expected to stabilize revenue, moving from a lumpy business model to more predictable revenue streams as customers transition to commercial stages [11][12] - **Operational Margins**: Expected expansion in operational margins despite challenges, with investments in R&D and new product development prioritized for future growth [66][69] Strategic Focus - **Investment in Innovation**: Bio-Techne is focusing on new product development, including advancements in organoids and other high-potential areas [76][77] - **Market Positioning**: The company aims to maintain a competitive edge by investing in high-quality programs and ensuring sticky revenue through strategic seeding of the market [71][72] Conclusion - **Outlook**: Bio-Techne is optimistic about future growth, with expectations of returning to double-digit growth as market conditions stabilize and improve [65][66]

Summary of Key Points Core Insights - Several healthcare and biotech stocks experienced significant gains in after-hours trading following earnings updates and guidance revisions Company Performance - **KalVista Pharmaceuticals Inc. (KALV)**: Stock rose 11.29% to $12.12 after reporting a third-quarter net loss of $49.5 million ($0.92 per share), compared to a loss of $39.1 million ($0.84 per share) in the same period last year. Net product revenue for the quarter was $13.7 million [1] - **Health Catalyst Inc. (HCAT)**: Stock advanced 13.24% to $3.23 after reporting a third-quarter net loss of $22.2 million ($0.32 per share), compared to a loss of $14.7 million ($0.24 per share) a year ago. Revenue declined to $76.3 million from $86.4 million. For Q4 2025, projected revenue is about $73.5 million with adjusted EBITDA of $13.4 million. Full-year expectations are $310 million in revenue and $41 million in adjusted EBITDA [2] - **Bio-Techne Corp. (TECH)**: Stock climbed 8.72% to $62.47. The company reported first-quarter GAAP EPS of $0.24, up from $0.21 last year, while adjusted EPS remained flat at $0.42. Revenue declined 1% year-over-year to $286.6 million [3] - **Assertio Holdings Inc. (ASRT)**: Stock gained 8.30% to $0.87 after reporting third-quarter GAAP net income of $11.4 million ($0.11 per share), compared to a loss of $2.9 million ($0.03 per share) last year. Adjusted EPS rose to $0.18 from $0.02. Net product sales reached $49.5 million, up from $28.7 million [4] - **Abeona Therapeutics Inc. (ABEO)**: Stock moved up 8.51% to $4.59. The company is scheduled to report third-quarter results on November 12, with analysts expecting a loss of $0.34 per share on revenue of $5.53 million [5]

Core Insights - The company reported a negative 1% organic growth in the top line for the quarter, primarily due to larger orders in GMP proteins not repeating year-over-year, resulting in a negative $7 million impact [2] - Despite the decline in organic growth, the overall performance of the business is viewed positively, and it does not reflect the trends in the markets [2] Market Performance - In the pharmaceutical sector, the company experienced two consecutive quarters of double-digit growth, alleviating earlier concerns about potential slowdowns due to MFN rhetoric [3] - The biotech sector also continued to show positive trends, contributing to the overall market performance [3]

Bio-Techne Conference Call Summary Company Overview - **Company**: Bio-Techne (NasdaqGS: TECH) - **Date**: November 10, 2025 - **Key Speakers**: Kim Kelderman, Jim Hippel, Dave Clair Key Points Financial Performance - **Organic Growth**: The company reported a negative 1% organic growth in the top line, primarily due to a $7 million impact from larger orders in GMP proteins not repeating year over year [3][10] - **EBITDA Margins**: The EBITDA margin stood at 29.9%, indicating strong operational performance despite headwinds [6] Market Dynamics - **Pharmaceutical Market**: Continued to show double-digit growth, with positive trends in funding and deal activity [4] - **Academic Market**: Flat performance, but core business showed strength [4] - **Regional Performance**: - **Europe**: Mid-single digit growth as expected [4] - **U.S.**: Negative low single digits, but showing improvement [4] - **China**: Two consecutive quarters of growth, indicating a positive trend [4] Business Segments - **Core Business**: Flat performance, recovering from previous quarters [5] - **Growth Verticals**: - **Gene Therapy**: Added numerous customers in cell therapy [5] - **Protein Analytics**: Mid-single digit growth [5] - **Molecular Diagnostics**: Mid-single digit growth, with a significant 34% growth in the same quarter last year [5] GMP Proteins - **Customer Concentration**: Two major customers accounted for a significant portion of GMP protein revenue, with a $12 million headwind expected in the next quarter [16] - **Market Conditions**: The biotech market showed improvement, moving from negative 30% to negative 19% [11] Product Innovations - **New Product Introductions**: Strong pipeline of new products across various lines, including ELA and Western Blot instruments, expected to drive future growth [32][33] - **Organoid Market**: The organoid business is projected to grow significantly, with a current estimated revenue of $50 million and a CAGR of 20% [51][52] Future Outlook - **Growth Projections**: The company anticipates low single-digit growth for the year, with expectations for improvement in the second half due to easing headwinds and market stabilization [55][59] - **China Market**: Optimism about sustained growth in China, with a focus on gradual recovery [60][61] Margin Expansion Opportunities - **Divestitures**: The divestiture of Exosome and exiting low-margin businesses like fetal bovine serum are expected to enhance margins [62] - **Operational Efficiency**: Ongoing efforts to optimize manufacturing and improve collaboration across business units are anticipated to drive margin improvements [63][64] Conclusion - Bio-Techne is navigating a challenging market environment with a focus on innovation, customer acquisition, and operational efficiency. The company is optimistic about future growth, particularly in the organoid and cell therapy markets, while managing the impacts of customer concentration and market fluctuations.

Group 1: Targa Resources - Targa Resources reported a solid third-quarter performance driven by volume growth in the gathering and processing segment, and plans to meet the high end of the previous fiscal 2025 adjusted EBITDA guidance [3] - The company bought back approximately $156 million of stock during the quarter and announced a 25% dividend increase for 2026, which is expected to be viewed positively by investors [3] Group 2: Bio-Techne - Bio-Techne reported first-quarter 2026 revenue of $286.6 million, down 1% year over year, and flat adjusted earnings of $0.42 compared to the same quarter in 2025 [5] - The company faced headwinds in its GMP proteins business and funding delays for emerging biotech customers, leading to results below expectations [5] - A Buy rating is maintained with a price target of $75, reflecting the long-term potential of the company's diversified life science product portfolio [6] Group 3: McDonald's - McDonald's reported U.S. comparable sales growth of 2.4%, slightly below expectations, with earnings falling short due to heavy marketing investments [7] - The company anticipates U.S. comps to accelerate in the fourth quarter, driven by easier comparisons from last year's food safety incident and promotions [8] - A price target of $315 is set, but the company remains cautious due to challenges in consumer transactions and a bifurcated consumer base [8] Group 4: Docebo - Docebo is initiated with an Outperform rating and a price target of $35, as it has outpaced the broader LMS market by displacing legacy vendors and moving upmarket [9] - The company is expected to benefit from its push into the public sector after achieving FedRAMP status in April 2025 [10] Group 5: Marriott International - Marriott International's third-quarter results were a surprise positive, while the fourth-quarter guidance is considered neutral/slightly positive, reflecting macro uncertainty [11] - The preliminary outlook for 2026 indicates similar growth compared to 2025, suggesting an attractive growth path for the lodging sector [11] - A Neutral rating is maintained with a price target of $297, indicating a balanced risk/reward scenario [11] Group 6: Snowflake - Snowflake's annual developer and product conference highlighted its evolution from a "Data Cloud" to an "Enterprise Intelligence Cloud," focusing on helping customers build and reason with their data [12] - Key product announcements included the launch of Snowflake Intelligence and expanded AI capabilities, which are expected to drive future growth [13][14] - A price target of $280 is set, reflecting the company's strategic direction and product enhancements [15]

Financial Performance - Consolidated net sales for the quarter ended September 30, 2025 were $286.6 million, a decrease of 1% compared to the same prior year period [103]. - Organic revenue for the quarter ended September 30, 2025 decreased 1%, with foreign currency exchange having a favorable impact of 1% [103]. - Consolidated gross margin for the quarter ended September 30, 2025 was 65.6%, up from 63.2% in the prior year [104]. - Adjusted gross margin for the quarter ended September 30, 2025 was 70.2%, compared to 69.5% for the same quarter in 2024 [104]. - The Protein Sciences segment's net sales for the quarter ended September 30, 2025 were $202.2 million, a decrease of 1% compared to the prior year [110]. - The Diagnostics and Spatial Biology segment's net sales for the quarter ended September 30, 2025 were $79.5 million, a decrease of 4% compared to the prior year [112]. Expenses - Selling, general and administrative expenses decreased 2% to $116.2 million for the quarter ended September 30, 2025 [108]. - Research and development expenses increased 2% to $24.2 million for the quarter ended September 30, 2025 [109]. Cash Flow and Investments - Cash and cash equivalents were $145.0 million as of September 30, 2025, down from $162.2 million as of June 30, 2025 [120]. - The Company generated cash of $27.6 million from operating activities in the first quarter of fiscal 2026, compared to $63.9 million in the first quarter of fiscal 2025 [123]. - In the first quarter of fiscal 2026, the Company received $4.6 million for assets held-for-sale, with no comparable activity in the first quarter of fiscal 2025 [126]. - The Company invested $15.0 million into Spear Bio during the first quarter of fiscal 2025, with no comparable activity in the first quarter of fiscal 2026 [126]. - Cash dividends paid to common shareholders were $12.4 million in the first quarter of fiscal 2026, compared to $12.7 million in fiscal 2025 [128]. - Cash received from the exercise of stock options was $23.5 million in the first quarter of fiscal 2026, down from $25.1 million in fiscal 2025 [129]. - The Company made repayments of $46.0 million on its long-term debt in the first quarter of fiscal 2026, compared to $19.0 million in fiscal 2025 [129]. - Taxes paid related to restricted stock and stock options were $9.2 million in the first quarter of fiscal 2026, up from $5.0 million in fiscal 2025 [130]. Non-GAAP Measures - The Company’s non-GAAP financial measures include organic revenue, adjusted gross margin, adjusted operating margin, and adjusted net earnings, which exclude stock-based compensation and other non-recurring items [134]. Forward-Looking Statements - Forward-looking statements indicate expectations regarding capital expenditures, gross margin fluctuations, and increased research and development expenses [142]. Market Risk - The Company’s exposure to market risk from changes in interest rates and currency exchange rates has not changed materially from the previous year [143]. Tax Distributions - The Company received tax distributions of $1.4 million from its equity method investee during the first quarter of both fiscal 2026 and 2025 [127].

Core Insights - Bio-Techne Corporation (TECH) reported first-quarter fiscal 2026 adjusted earnings per share (EPS) of 42 cents, matching the Zacks Consensus Estimate, with the bottom line remaining flat year-over-year [1][9] - The company's net sales for the quarter were $286.6 million, down 1% year-over-year, missing the Zacks Consensus Estimate by 0.9%, leading to a 7.5% drop in shares during pre-market trading [3][9] Financial Performance - GAAP loss per share was 24 cents compared to EPS of 21 cents in the prior-year quarter [2] - Gross profit increased by 2.8% to $188.1 million, with gross margin expanding by 242 basis points to 65.6% due to a 7.5% decrease in the cost of sales [6][9] - Operating profit for the quarter was $47.7 million, up from $40 million in the year-ago quarter, with an operating margin expansion of 282 basis points to 16.6% [7][9] - Net cash provided by operating activities was $27.6 million, down from $63.9 million a year ago [10] Revenue Breakdown - In the Protein Sciences segment, revenues were $202.2 million, down 1% year-over-year (down 3% organically) [4] - The Diagnostics and Spatial Biology segment saw sales decrease by 4% year-over-year to $79.5 million, although it was up 3% organically [5] Market Position and Outlook - Despite the revenue decline, there are signs of stabilization in the U.S. academic market and continued strength among large pharmaceutical customers [11] - The expansion of both gross and operating margins is viewed as a positive indicator for the company's future performance [12]