Akoya Biosciences, a leading spatial biology company, experienced a significant surge in its stock value following the release of its 2024 outlook and fourth-quarter expectations. The company’s shares rose by 20% to $5.20 during Monday’s trading session, compared to $9.93 a year ago.
Strong Growth Predicted for 2024
Akoya Biosciences confidently predicts that its full-year revenue will exceed 20% growth in 2024. Additionally, the company aims to achieve cash flow breakeven by the end of the same year.
Positive Fourth-Quarter Projections
The company’s expectations for the fourth quarter of 2023 are highly promising, with projected revenues of $25.5 million to $26.5 million. This represents a substantial increase from $21.2 million in the same quarter the previous year. These projections align with analyst expectations.
Partnership with Thermo Fisher Scientific
Akoya Biosciences has recently formed a license and distribution agreement with Thermo Fisher, a renowned scientific solutions provider. This collaboration allows Akoya to market its spatial biology solutions alongside Thermo Fisher’s ViewRNA in situ hybridization assays. Together, these technologies facilitate the detection of protein and RNA biomarkers in tissue samples.
Advancing Whole-Slide, Multiomic Imaging
The partnership between Akoya Biosciences and Thermo Fisher paves the way for a streamlined workflow in whole-slide, multiomic imaging. By leveraging protein and RNA biomarkers, researchers can gain a deeper understanding of cell phenotypes and states.
In conclusion, Akoya Biosciences has unveiled its optimistic outlook for 2024, projecting substantial revenue growth and aiming to achieve cash flow breakeven. Furthermore, their partnership with Thermo Fisher Scientific enhances their ability to provide cutting-edge spatial biology solutions for researchers in various fields.