Company expects strong growth and partnership with Thermo Fisher
- Akoya Biosciences shares rise 20% on 2024 outlook and Thermo Fisher deal
- Company expects revenue to grow over 20% in 2024
- Projects to achieve cash flow breakeven by end of 2024
- Fourth-quarter revenue expected to be $25.5 million to $26.5 million
- License and distribution agreement signed with Thermo Fisher for spatial biology solutions
Shares of Akoya Biosciences jumped 20% after the company provided its 2024 outlook, preliminary fourth-quarter expectations, and announced a partnership with Thermo Fisher Scientific. The company expects revenue to grow more than 20% in 2024 and projects to achieve cash flow breakeven by the end of the year. In the fourth quarter of 2023, Akoya anticipates revenue of $25.5 million to $26.5 million, in line with analyst expectations. The company also signed a license and distribution agreement with Thermo Fisher, allowing it to market the combination of Akoya’s spatial biology solutions with Thermo Fisher’s ViewRNA in situ hybridization assays for detecting protein and RNA biomarkers in tissue samples. This agreement will streamline the workflow for whole-slide, multiomic imaging, with protein and RNA biomarkers playing complementary roles in defining cell phenotypes and cell states.
Public Companies: Akoya Biosciences (N/A), Thermo Fisher Scientific (N/A)
Private Companies:
Key People:
Factuality Level: 7
Justification: The article provides information about Akoya Biosciences’ 2024 outlook, fourth-quarter expectations, and an agreement with Thermo Fisher Scientific. It includes specific details about revenue growth, cash flow breakeven, and analyst expectations. The article also mentions a license and distribution agreement between Akoya and Thermo Fisher. Overall, the article provides factual information without any obvious bias or inaccuracies.
Noise Level: 3
Justification: The article provides relevant information about Akoya Biosciences’ 2024 outlook, fourth-quarter expectations, and an agreement with Thermo Fisher Scientific. It includes details about the company’s expected revenue growth and cash flow breakeven. The article also mentions the license and distribution agreement with Thermo Fisher, explaining how it will benefit Akoya’s spatial biology solutions. Overall, the article stays on topic, provides relevant information, and supports its claims with specific details.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Akoya Biosciences
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the stock performance of Akoya Biosciences, its 2024 outlook, preliminary fourth-quarter expectations, and an agreement with Thermo Fisher Scientific. However, there is no mention of any extreme event or its impact.
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