Core Insights - Illumina announced the acquisition of SomaLogic for $350 million in cash, aimed at enhancing its position in the growing proteomics market and accelerating its multi-omics strategy for 2024 [1][3] - The acquisition is based on a prior collaboration established in December 2021, focusing on integrating SomaLogic's protein detection technology into Illumina's NGS platform [3][4] - The global proteomics market is projected to grow from $33.6 billion in 2024 to $60.5 billion by 2029, with a compound annual growth rate (CAGR) of 12.4% [9] Company Strategy - Illumina's CEO stated that the acquisition will enhance the value of the NovaSeq X product and unlock greater potential for future advancements [3] - The integration of SomaLogic's technology with Illumina's scalable NGS platform and analysis software is expected to accelerate technological development in proteomics and reduce research time and costs [3] - The company aims to complete the acquisition by mid-2026, pending regulatory approvals, while both companies will continue to operate independently until then [4] Market Context - Illumina holds over 80% of the global gene sequencing market but has faced revenue declines and significant losses, particularly a projected loss of $1.223 billion in 2024 [6] - The company has been impacted by being placed on the "unreliable entity list" in China, affecting its business in the Greater China region [6] - The competitive landscape is intensifying, with rivals like Roche Diagnostics and BGI encroaching on Illumina's market share [6] Industry Trends - The proteomics field is seen as a critical area for future diagnostics and drug development, with the potential to discover new biomarkers and therapeutic targets [7] - Recent acquisitions in the proteomics space, such as Thermo Fisher's $3.1 billion purchase of Olink Holding AB, indicate a growing interest and investment in this sector [10] - Illumina's acquisition of SomaLogic is expected to strengthen its capabilities in the high-growth proteomics market, with profitability anticipated by 2027 [10]

This collaboration builds on the foundation of earlier work performed by GATC for Lisata, in which GATC provided AI-derived analysis in support of Lisata's certepetide drug candidate. Under the expanded relationship, Lisata will enhance its therapeutic pipeline by leveraging GATC's proprietary Multiomics Advanced Technology® (MAT) platform to identify new AI-predicted combination therapies (including with certepetide) across all therapeutic areas. This approach not only opens the door to new treatment possi ...

© 2025 Azenta, Inc. • All rights reserved 1 Conference Call Fiscal Second Quarter 2025 Financial Results May 7, 2025 1 Safe Harbor Statement "Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995; certain matters in this presentation, including forecasts of future demand and future Company performance, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to materially differ, either better or worse, from those projected. ...

Core Insights - The company reported a total revenue of $143 million for the quarter ended March 31, 2025, reflecting a 5% increase year-over-year, driven by growth in Sample Management Solutions and Multiomics [2][7] - The diluted EPS from continuing operations was $(0.40), compared to $(0.29) in the same quarter of the previous year, indicating a significant loss [2][24] - The company has a strong cash position with total cash, cash equivalents, and marketable securities amounting to $540 million as of March 31, 2025 [14] Financial Performance - Revenue from continuing operations was $143 million, down 3% from the previous quarter but up 5% year-over-year [2][7] - Organic revenue growth was 6% year-over-year, with Sample Management Solutions revenue at $80 million, up 8% year-over-year [2][7] - Adjusted EBITDA for continuing operations was $14 million, with an adjusted EBITDA margin of 10.0%, an improvement of 400 basis points year-over-year [2][7] Management Commentary - The CEO highlighted the company's strong performance amidst a challenging macroeconomic environment, emphasizing the resilience of the portfolio and the commitment of the teams [3] - The management expressed confidence in the company's positioning and disciplined operations while navigating uncertainties [3] Cash Flow and Guidance - Operating cash flow for the quarter was $14 million, with capital expenditures of $7 million, resulting in free cash flow of $7 million [14] - The company reiterated its revenue guidance for fiscal year 2025, expecting total organic revenue growth in the range of 3% to 5% compared to fiscal 2024 [14]