The bio-tools giant, Thermo Fisher Scientific, today reported modest increases in year over year revenue for Q3 2024.  Most of the gains were attributed to Specialty Diagnostics, and Analytical Instruments, while Life Sciences Solutions, dipped slightly. Laboratory Products and Pharmaceutical Services (largest sector) was essentially flat.  As the Bio-tools sector continues to work it way out of the year-long…

Yesterday, Danaher reported Life Sciences revenues rose nearly 5 percent in Q3 2024 relative to Q3 2023, as did their Diagnostics revenues.  However, when including Core revenues, Danaher projected an overall single digit revenue decline in the 4th quarter and for the full year for the company.  The Life Sciences and Diagnostics increases for the large conglomerate are a…

A study published this week in CELL strongly suggests that the COVID-19 (SARS-CoV-2) cases first identified in China are linked to wild animal trading at Wuhan’s Huanan Seafood Wholesale Market.

In the Cell article, Débarre and colleagues from Sorbonne University, the University of Arizona, the Scripps Research Institute, and elsewhere described the use of reverse-transcription quantitative PCR, metagenomic sequencing, SARS-CoV-2…

GenomeWeb, tracking the top 40 companies providing ‘omics and molecular diagnostics related products, reported today that August showed a very slight increase in performance.  As a whole the collection of stocks increased just over 1/2 % with fewer than half showing improved performance month over month.  The challenged sector remains stubbornly flat in the near term but may be…

As of recent estimates, the global market for reagents used in Next-Generation Sequencing (NGS) is significant. In 2023, the market for NGS reagents was valued at approximately $2.5 billion to $3 billion annually. This includes a range of reagents and consumables such as sequencing kits, libraries, and other materials required for NGS processes.

The NGS reagent market is driven by…

While the bio-tools sector has experienced a notable post pandemic revenue decline, there is fresh evidence of the impact of reduced spending related to COVID in Asia.  This week two Chinese genomic tool suppliers, BGI Genomics, and MGI Tech, reported a 10% and 16% revenue decline, respectively, in the first half of 2004. BGI Genomics specifically cited COVID spending…

Venture investment into U.S. biotechs is back at pre-COVID levels as of June of 2024. That should start to impact the biotools sector. Investment firms seem more selective in the companies they favor, and some are looking toward M&A rather than IPOs. After a turbulent few years, 2024 has given the biotechnology industry some signs of a return to normalcy….

Today, Illumina and the Broad Institute of MIT and Harvard announced a new research partnership to advance single-cell sequencing and accelerate adoption of high-capacity single-cell experiments, leveraging Illumina’s Fluent technology. As part of their work together, Illumina and the Broad will partner on the development and validation of new kits to catalyze large-scale PeturbSeq CRISPR screening.

Thermo Fisher Scientific said earlier this month that it conducted a restructuring in the first six months of 2024 that included headcount reductions and facility consolidations to streamline operations. According to the company’s most recent quarterly filing with the US Securities and Exchange Commission, the measures affected approximately 1 percent of its workforce. ~ Source: Genome Web

August 8, 2024: Industry budgets are impacting 10x instrument placements.

“Our customers are under budget pressure, which has most acutely resulted in cuts to capital expenditures budgets and elongated purchase cycles, impacting our instrument revenue this quarter,” 10x CEO and Cofounder Serge Saxonov said on a conference call following the release of the results. “We believe these macro factors and…