Buy Or Sell Opportunity • Jun 10
Now 26% overvalued Over the last 90 days, the stock has fallen 15% to US$1.33. The fair value is estimated to be US$1.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Buy Or Sell Opportunity • May 21
Now 40% overvalued Over the last 90 days, the stock has fallen 37% to US$1.30. The fair value is estimated to be US$0.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • May 21
An undisclosed buyer submitted an unsolicited proposal to acquire Akoya Biosciences, Inc. (NasdaqGS:AKYA) from group of shareholders for $73.2 million. An undisclosed buyer submitted an unsolicited proposal to acquire Akoya Biosciences, Inc. (NasdaqGS:AKYA) from group of shareholders for $73.2 million on May 20, 2025. Akoya common stock would be exchanged for $1.40 in cash. The transaction is Subject to the approval of shareholders and the board of directors of Akoya Biosciences. Major Estimate Revision • May 20
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$89.0m to US$82.6m. Losses expected to increase from US$0.66 per share to US$0.81. Life Sciences industry in the US expected to see average net income growth of 13% next year. Consensus price target down from US$2.65 to US$1.88. Share price rose 4.4% to US$1.06 over the past week. Reported Earnings • May 13
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.32 loss per share (improved from US$0.48 loss in 1Q 2024). Revenue: US$16.6m (down 9.3% from 1Q 2024). Net loss: US$15.7m (loss narrowed 33% from 1Q 2024). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 54%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • May 02
Now 21% overvalued Over the last 90 days, the stock has fallen 58% to US$1.24. The fair value is estimated to be US$1.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Price Target Changed • Apr 29
Price target decreased by 16% to US$2.65 Down from US$3.14, the current price target is an average from 5 analysts. New target price is 109% above last closing price of US$1.27. The company is forecast to post a net loss per share of US$0.66 next year compared to a net loss per share of US$1.12 last year. Announcement • Apr 25
Akoya Biosciences, Inc. and Enable Medicine Launch the Largest Commercially Available Single-Cell Spatial Proteomics Atlas Akoya Biosciences, Inc. and Enable Medicine announced a groundbreaking collaboration to deliver the largest commercially available single-cell spatial proteomics atlas to the research and clinical community. Enable Medicine’s Pan-Cancer Atlas is a unique multi-modal dataset built using Akoya’s PhenoCycler-Fusion (PCF) platform and includes the PhenoCode Discovery IO60 panel as its foundational data. The Enable Atlas comprises over 100 million single cells, spanning 8,500+ samples and 15+ cancer types, with rich cellular features, including up to 60 protein biomarkers, accompanying H&E images and spatial transcriptomics measurements, and comprehensive clinical metadata. The Enable Atlas is curated, standardized, and commercially licensable. It provides immediate value to biopharma researchers and AI model developers seeking to accelerate biomarker discovery, drug development, and translational insights. It is a special mechanism for new and existing PhenoCycler-Fusion customers to further power their experiments by integrating their data with the Enable Atlas. The Enable Atlas’s spatial proteomics layer was generated using Akoya’s PhenoCycler-Fusion, the industry’s fastest and most scalable spatial biology platform, and included the ultrahigh-plex IO60 panel, capturing broad biological diversity across tissue types. Enable Medicine’s software platform hosts the dataset and makes it easily explorable, allowing users to filter and subset by biomarker expression, tissue type, clinical metadata, and more. These analytical and annotation capabilities make the Atlas a powerful tool for biomarker discovery, comparative analysis, and statistical validation in discovery and translational research. Announcement • Apr 24
Akoya Biosciences Expands Biopharma Service Portfolio with New ADC Breast Cancer Assay and Real-World IO60 Insights At AACR 2025 Akoya Biosciences, Inc. announced the availability of a new assay designed to advance antibody-drug conjugate (ADC) development in breast cancer. The new assay will be featured alongside customer-generated real-world data from the PhenoCode™? Discovery IO60 panel--Akoya's ultrahigh-plex immuno-oncology solution-- at the American Association for Cancer Research (AACR) 2025 Annual Meeting, taking place April 25-30 in Chicago, Illinois. New ADC Assay: Advancing Breast Cancer Precision The emergence of HER2- and TROP2-targeting ADCs--such as those used in the DESTINY, ASCENT, and TROPiCS trials-- have transformed breast cancer treatment while introducing greater complexity in therapeutic decision-making. Akoya's newly launched multiplex immunofluorescence (mIF) panel is designed to address these challenges by enabling more precise patient selection within established breast cancer subtypes. This ADC-focused panel includes HER2, TROP2, Ki-67, ER/PR, and a proprietary membrane-localization cocktail. It allows for simultaneous quantification of ADC target expression with precise subcellular localization, providing: Normalized protein expression, Membrane/cytoplasmic expression ratios, Comparative analysis with standard-of-care IHC biomarkers. Now available through Akoya's Advanced Biopharma Services (ABS), the ADC panel includes comprehensive support--from assay customization to tissue staining, high-resolution imaging, image analysis, and reporting. ABS is purpose-built to accelerate the path from translational discovery to IUO and IVD, with capabilities anchored in: A CLIA-certified laboratory for clinical-grade assay development, Integrated imaging and analysis workflows for multiplexed biomarker quantification, A clinical trial site and global CRO network for end-to-end study support. The panel is optimized for: Identifying HER2-low and TROP2-high patients in clinical trial cohorts; Resolving membrane versus cytoplasmic marker expression--critical for ADC efficacy; Delivering consistent, quantitative scoring of each ADC marker. Originally launched at SITC 2024, the PhenoCode Discovery IO60 panel remains the fastest ultrahigh-plex spatial proteomics solution for immuno-oncology research. At AACR 2025, one of Akoya's customers will present real-world data generated using IO60, showcasing its power in: Deep immune phenotyping; Tumor microenvironment (TME) profiling; Translating biomarker discovery across oncology pipelines. Both innovations--the ADC-focused breast cancer panel and customer-generated data using IO60-- will be featured at AACR 2025 - Booth #3045, where Akoya will highlight the full potential of spatial biology in translational research. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -US$0.62 to -US$0.684 per share. Revenue forecast unchanged at US$91.2m. Life Sciences industry in the US expected to see average net income growth of 12% next year. Consensus price target down from US$3.48 to US$3.14. Share price fell 14% to US$1.45 over the past week. Price Target Changed • Mar 25
Price target decreased by 13% to US$3.14 Down from US$3.60, the current price target is an average from 5 analysts. New target price is 104% above last closing price of US$1.54. The company is forecast to post a net loss per share of US$0.68 next year compared to a net loss per share of US$1.12 last year. Announcement • Mar 19
Akoya Biosciences, Inc. Auditor Raises 'Going Concern' Doubt Akoya Biosciences, Inc. filed its 10-K on Mar 17, 2025 for the period ending Dec 31, 2024. In this report its auditor, McGladrey LLP - RSM LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Mar 18
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$1.12 loss per share (improved from US$1.43 loss in FY 2023). Revenue: US$81.7m (down 16% from FY 2023). Net loss: US$55.4m (loss narrowed 13% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. New Risk • Feb 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$90.2m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$49m). Currently unprofitable and not forecast to become profitable over next 3 years (US$25m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$90.2m market cap). Announcement • Feb 05
Akoya Biosciences, Inc. Unveils Strategic Product Roadmap, Powered by the New IO60 and Upcoming Neurobiology Panels Akoya Biosciences, Inc. announced its reagent product roadmap now, featuring new ultrahigh-plex neurobiology panels for human and mouse applications. Building on the success of the Human IO60 and Mouse FFPE IO panels, which debuted at the Society for Immunotherapy of Cancer (SITC) Annual Meeting in November 2024, this roadmap represents the next step in the company’s mission to provide cutting-edge tools for advancing research across multiple market including oncology, inflammatory disease and neurobiology. Since its launch, the PhenoCode™ Discovery IO60 panel has been celebrated by key opinion leaders (KOLs) and contract research organizations (CROs) for its ability to generate deep insights into immune landscapes and tumor-immune interactions. Early adopters have highlighted its transformative potential: Ultrahigh-Plex Neurobiology Panels: A Major Step ForwardExpanding on the success of IO60, the company is set to release PhenoCode Human and Mouse FFPE Neurobiology panels at the end of First Quarter and Second Quarter 2025 respectively. These panels will address the critical need for comprehensive spatial insights in neuroscience research, enabling advancements in understanding neurodegenerative diseases, disease modeling, and therapeutic development. Key Features of the New Human and Mouse Neurobiology Panels: Human Neurobiology Panel: This high-plex spatial proteomics panel features an extensive set of biomarkers to study neurodegenerative diseases, neuroinflammation, vascular integrity, and key therapeutic targets, making it a vital tool for advancing neuroscience research. Mouse Neurobiology Panel: Specifically optimized for preclinical studies, this panel offers unparalleled biomarker depth to support disease modeling, neurodevelopmental research, and translational applications, bridging the gap between discovery and clinical insights. Seamless Integration with PhenoCycler-Fusion: Fully automated and optimized for the PhenoCycler-Fusion platform, the fastest spatial proteomics discovery tool, enabling unprecedented speed and resolution in insight generation. Announcement • Jan 11
Quanterix Corporation (NasdaqGM:QTRX) entered into an agreement to acquire Akoya Biosciences, Inc. (NasdaqGS:AKYA) from Telegraph Hill Partners III, L.P, a fund managed by Telegraph Hill Partners, PSC Capital Partners LLC, aMoon Growth Fund II, L.P., a fund managed by aMoon Fund and others for $190 million. Quanterix Corporation (NasdaqGM:QTRX) entered into an agreement to acquire Akoya Biosciences, Inc. (NasdaqGS:AKYA) from Telegraph Hill Partners III, L.P, a fund managed by Telegraph Hill Partners, PSC Capital Partners LLC, aMoon Growth Fund II, L.P., a fund managed by aMoon Fund and others for $190 million on January 9, 2025. Under the merger agreement, at the effective time of the merger, each share of common stock of Akoya outstanding immediately prior to the Effective Time will be converted into the right to receive 0.318 of a fully paid and nonassessable share of common stock of the Quanterix. Under the merger agreement, Akoya and the Quanterix will each be required to pay a termination fee to the other party equal to $7 million (in the case of the termination fee payable by Akoya) and $9 million (in the case of the termination fee payable by the Quanterix), in each case if the Merger Agreement is terminated in certain circumstances. Following close, Masoud Toloue will serve as Chief Executive Officer and Vandana Sriram will serve as Chief Financial Officer. The combined company will continue to operate under the Quanterix name. Upon closing, the Quanterix Board will consist of nine members. Two current Quanterix directors will resign, and Quanterix will appoint two directors designated by Akoya from their current Board.
The transaction has been approved by board of directors of each parties. The transaction is subject to the regulatory approval, adoption of the Merger Agreement by Akoya’s stockholders, approval by the Quanterix’s stockholders of the issuance of shares of Quanterix common stock in connection with the merger, the Quanterix’s registration statement on Form S-4, the waiting period applicable to the merger under the antitrust laws of the United States having expired or been terminated. The transaction is expected to close in the second quarter of 2025.
Goldman Sachs & Co. LLC acted as financial advisor and Catherine Dargan and Kyle Rabe of Covington & Burling LLP acted as legal counsel to Quanterix. Perella Weinberg Partners LP acted as financial advisor and David M. Clark and Patrick J. O’Malley of DLA Piper LLP (US) acted as legal counsel to Akoya. Perella Weinberg Partners LP acted as fairness opinion provider to Akoya Biosciences. Goldman Sachs & Co. LLC acted as fairness opinion provider to Quanterix. Announcement • Nov 15
Akoya Biosciences, Inc. Revises Earnings Guidance for the Full Year 2024 Akoya Biosciences, Inc. revised earnings guidance for the full year 2024. For the year, the company reported that due to persistent macro challenges during the year, the company expects revenue for the full year 2024 to now be in the range of $80 million to $85 million versus a prior range of $96 million to $104 million. Announcement • Nov 07
Precision for Medicine to Offer Spatial Biology Solutions Incorporating the PhenoCycler-Fusion 2.0 System and the new Phenocode Discovery IO60 Panel from Akoya Biosciences Precision for Medicine, announced the integration of Akoya's PhenoCycler-Fusion 2.0 and early access for the new PhenoCode Discovery IO60 immuno-oncology panel into its service portfolio. Precision for Medicine now offers services based on both the PhenoCycler and PhenoImager® platforms, enabling a seamless continuum from biomarker discovery through application in the clinical trial setting. The PhenoCycler-Fusion 2.0 is a next-generation ultrahigh-plex and high-throughput spatial biology solution that combines automated fluidics with high-speed imaging to generate high-resolution images of multiple biomarkers on tissue sections. This platform enables the simultaneous analysis of hundreds of biomarkers, providing a comprehensive understanding of tumor biology and immune interactions. These insights are critical for advancing precision medicine by identifying key protein drivers and improving the immune system's ability to target cancer cells. The 60-plex IO60 Panel will meet the critical demand for a robust immuno-oncology solution, featuring a broad set of fully validated markers in one streamlined workflow. This panel covers markers for immune cell types, essential checkpoint inhibitors, tumor microenvironment components, and recognized immunotherapy targets, all in a single, efficient workflow. As a CLIA-certified lab with a large biospecimen repository, Precision for Medicine can now offer in-house biomarker discovery, assay development and validation, and faster data delivery. Researchers can now benefit from Precision for Medicine's ability to streamline the entire workflow, ensuring regulatory compliance, accelerating FDA submissions, and ultimately making more informed drug development decisions. This PhenoCyler-Fusion 2.0 platform has the potential to accelerate clinical trials by providing discovery of more biomarkers, allowing for quicker identification of effective therapies. By offering Akoya's full suite of spatial biology solutions, Precision for Medicine is also solidifying its position as a leader in spatial biology services, an essential aspect of the spatial biology ecosystem to advance precision oncology, immunotherapy, and personalized medicine. Announcement • Oct 28
Akoya Biosciences, Inc. to Report Q3, 2024 Results on Nov 14, 2024 Akoya Biosciences, Inc. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024 Announcement • Oct 04
Akoya Biosciences, Inc. Announces Board Changes Akoya Biosciences, Inc. announced Scott Mendel has been appointed as Chairman of its Board, effective October 2, 2024. Mr. Mendel succeeds Robert Shepler, founding Chairman, who will remain on Akoya’s board. Mr. Mendel has served as a member of Akoya’s board of directors since June 2021 and has over 30 years of financial and operational management experience. Mr. Mendel, a leader in the diagnostics industry, previously served as President and Chief Executive Officer and a member of the board of directors of GenMark Diagnostics, Inc., from May 2020 until its acquisition by Roche in April 2021 for $1.8 billion. From May 2014 to May 2020, Mr. Mendel also served in various roles of ascending responsibility with GenMark, including as interim Chief Executive Officer, Chief Operating Officer and Chief Financial Officer. Before GenMark, Mr. Mendel served as the Chief Financial Officer of The Active Network, Inc., from March 2010 through its acquisition in November 2013 by Vista Equity Partners. Prior to joining The Active Network, Mr. Mendel held finance positions at General Electric for over 20 years, including Chief Financial Officer from March 2003 to March 2010 of General Electric’s Healthcare IT division. Mr. Mendel has served on the board of Quantum-Si Incorporated, since May 2023 and serves as a director of Pattern Biosciences. Reported Earnings • Aug 06
Second quarter 2024 earnings: EPS in line with expectations, revenues disappoint Second quarter 2024 results: US$0.27 loss per share (improved from US$0.51 loss in 2Q 2023). Revenue: US$23.2m (down 1.5% from 2Q 2023). Net loss: US$13.1m (loss narrowed 37% from 2Q 2023). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. Announcement • Aug 06
Akoya Biosciences, Inc. Updates Earnings Guidance for the Full Year of 2024 Akoya Biosciences, Inc. updated earnings guidance for the full year of 2024. The company now expects the full year 2024 revenue to be in the range of $96 million to $104 million. New Risk • Aug 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$21m net loss in 3 years). Shareholders have been diluted in the past year (4.8% increase in shares outstanding). Announcement • Jul 16
Akoya Biosciences, Inc. to Report Q2, 2024 Results on Aug 05, 2024 Akoya Biosciences, Inc. announced that they will report Q2, 2024 results After-Market on Aug 05, 2024 Major Estimate Revision • May 21
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$115.6m to US$108.1m. Losses expected to increase from US$0.84 per share to US$1.10. Life Sciences industry in the US expected to see average net income growth of 20% next year. Consensus price target down from US$9.00 to US$7.43. Share price fell 32% to US$2.81 over the past week. Announcement • May 15
Akoya Biosciences, Inc. Provides Revenue Guidance for the Full Year 2024 Akoya Biosciences, Inc. provides revenue guidance for the full year 2024. For the year, the company is updating its revenue outlook for the full year 2024 while maintaining its commitment to achieving operating cash flow breakeven by year end. The Company now expects full year 2024 revenue to be in the range of $104.0 million to $112.0 million. Price Target Changed • May 14
Price target decreased by 11% to US$8.17 Down from US$9.13, the current price target is an average from 7 analysts. New target price is 182% above last closing price of US$2.90. Stock is down 51% over the past year. The company is forecast to post a net loss per share of US$1.10 next year compared to a net loss per share of US$1.43 last year. Announcement • May 03
Akoya Biosciences and Shanghai KR Pharmtech Announces Chinese Regulatory Agency Premarket Approval for KR-HT5 in China to Support Next Generation Pathology Clinical Workflows Akoya Biosciences, Inc. and Shanghai KR Pharmtech have jointly announced that KR-HT5, which Akoya Biosciences co-developed with Shanghai KR Pharmtech utilizing the PhenoImager HT technology as its foundation, has received premarket approval from China's National Medical Products Administration (NMPA) to support next generation pathology clinical workflows. The NMPA serves as the national regulatory body in China, overseeing the safety, quality, and efficacy of medical products, encompassing pharmaceuticals and medical devices. Obtaining NMPA approval indicates that the regulatory authority has examined and sanctioned the product for sale or utilization in the Chinese clinical market. The KR-HT5 is a product jointly developed by Akoya Biosciences and Shanghai KR Pharmtech for Chinese clinical needs. Built on the PhenoImager HT core technologies, specifically Akoya's Multispectral Imaging (MSI) and spectral unmixing technologies, KR-HT5 will provide clinicians with a high-throughput platform to enable analysis for multiplex biomarker workflows. Shanghai KR Pharmtech will offer the KR-HT5 as part of its Next Generation Pathology (NGP) solutions. Announcement • Apr 24
Akoya Biosciences, Inc., Annual General Meeting, Jun 04, 2024 Akoya Biosciences, Inc., Annual General Meeting, Jun 04, 2024, at 11:00 US Eastern Standard Time. Location: 500 Donald Lynch Boulevard Marlborough, MA 01752 Marlborough Massachusetts United States Agenda: To elect three directors to serve as Class III directors for a three-year term to expire at the 2027 annual meeting of stockholders; to consider and vote upon the ratification of the appointment of RSM US LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and to consider other matters. Announcement • Apr 23
Akoya Biosciences, Inc. to Report Q1, 2024 Results on May 13, 2024 Akoya Biosciences, Inc. announced that they will report Q1, 2024 results After-Market on May 13, 2024 Announcement • Apr 05
Akoya Biosciences Showcases Spatial Biology 2.0 Solutions At AACR Annual Meeting with Case Studies Demonstrating Unprecedented Speed and Scale Akoya Biosciences, Inc. announced it will highlight case studies featuring its Spatial Biology 2.0 Solutions that enable unprecedented speed and scale for spatial biology studies at the American Association for Cancer Research (AACR) 2024 Annual Meeting in San Diego, April 5 to 10. In addition, the company will showcase new applications of its PhenoCode™? Signature Panels and preliminary data from the Thermo Fisher ViewRNA assays on Akoya's platforms. Industry-leading capabilities of the company's spatial biology platforms will be presented during Akoya's Spotlight Theater, titled "Spatial Biology 2.0: Spatial Insights and Precision Medicine at Unpre unprecedented Scale" on April 8 at 3 PM (PST). The event will describe how researchers are revealing new insights into the tumor microenvironment, elucidating the mechanisms of cancer treatment response, and paving the way for spatial biology to impact patient outcomes. Deployment of Akoya's PhenoCycler®?-Fusion 2.0, PhenoImager®? HT 2.0, and PhenoCode Panels across the research continuum, from ultrahigh-plex discoveries to actionable signatures, will be described by the presenters: Suzanne K. Coberly, MS MD, FCAP, Scientific Senior Director, Discovery & Translational Pathology, Oncogenesis TRC, Bristol Myers Squibb, Arutha Kulasinghe PhD, Scientific Director of the Queensland Spatial Biology Center in Brisbane, Group Leader at The University of Queensland, Pascal Bamford, PhD, Senior Vice President, R&D and Laboratory Operations, Akoya Biosciences. Major Estimate Revision • Mar 12
Consensus EPS estimates upgraded to US$0.83 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -US$0.931 to -US$0.83 per share. Revenue forecast steady at US$115.8m. Life Sciences industry in the US expected to see average net income growth of 13% next year. Consensus price target down from US$9.13 to US$8.81. Share price fell 4.7% to US$4.86 over the past week. Reported Earnings • Mar 05
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: US$1.43 loss per share (improved from US$1.87 loss in FY 2022). Revenue: US$96.6m (up 29% from FY 2022). Net loss: US$63.3m (loss narrowed 10% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Life Sciences industry in the US. Announcement • Feb 09
Akoya Biosciences, Inc. to Report Q4, 2023 Results on Mar 04, 2024 Akoya Biosciences, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 04, 2024 Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Member of Scientific Advisory Board Jim Allison was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 09
Akoya Biosciences Deploys the Maxfuse Algorithm Co-Developed by Dr. Garry Nolan and His Laboratory At Stanford University for Multiomic Integration of Spatial and Single-Cell Data on the Enable Medicine Platform Akoya Biosciences, Inc. announces the availability of MaxFuse, an advanced algorithm co-developed in the laboratory of Dr. Garry Nolan for integrating multiomic single-cell and spatial datasets. Dr. Nolan is a co-founder and member of the Board of Directors of Akoya Biosciences. Recent technology advancements have enabled analyses of the proteome, metabolome, transcriptome, and epigenome both spatially and at the single-cell level. However, the ability to integrate the data from these diverse modalities and platforms is challenging. The MaxFuse algorithm from Dr. Nolan was developed to overcome these limitations and provides a reliable, fast, cost-effective, and scientifically powerful means to integrate spatial proteomic data with single-cell transcriptomic and epigenomic data sets. MaxFuse was developed in collaboration with the laboratories of Nancy Zhang and Zongming Ma at the University of Pennsylvania. Announcement • Jan 08
Akoya Biosciences, Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year Ended December 31, 2023 and for the Fiscal Year 2024 Akoya Biosciences, Inc. provided revenue guidance for the fourth quarter and full year ended December 31, 2023 and for the fiscal year 2024. Revenue for the fourth quarter of 2023 is expected to be between $25.5 million and $26.5 million, as compared to $21.2 million for the corresponding quarter of 2022. For the fiscal year of 2023, revenue is expected to be between $95.6 million and $96.6 million, as compared to $74.9 million for the fiscal year of 2022. The Company, based on its current plans and initiatives, expects full year 2024 revenue to grow 20%+ and projects achieving operating cash flow breakeven by year end 2024. Price Target Changed • Dec 19
Price target decreased by 11% to US$9.25 Down from US$10.38, the current price target is an average from 8 analysts. New target price is 97% above last closing price of US$4.69. Stock is down 58% over the past year. The company is forecast to post a net loss per share of US$1.48 next year compared to a net loss per share of US$1.87 last year. Major Estimate Revision • Nov 16
Consensus EPS estimates upgraded to US$1.46 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$1.65 per share to -US$1.46 per share. Revenue forecast reaffirmed at US$96.8m. Life Sciences industry in the US expected to see average net income growth of 11% next year. Consensus price target down from US$12.00 to US$11.00. Share price rose 6.7% to US$4.45 over the past week. New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$20m net loss in 3 years). Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Price Target Changed • Nov 12
Price target decreased by 8.3% to US$11.00 Down from US$12.00, the current price target is an average from 7 analysts. New target price is 174% above last closing price of US$4.01. Stock is down 70% over the past year. The company posted a net loss per share of US$1.87 last year. Announcement • Nov 10
Akoya Biosciences, Inc. Reiterates Revenue Guidance for the Fiscal Year 2023 Akoya Biosciences, Inc. reiterated revenue guidance for the fiscal year 2023. The company, based on its current plans and initiatives, continues to expect full year 2023 revenue in the range of $95-98 million. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: US$0.26 loss per share (improved from US$0.47 loss in 3Q 2022). Revenue: US$25.2m (up 34% from 3Q 2022). Net loss: US$12.9m (loss narrowed 28% from 3Q 2022). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 29%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Life Sciences industry in the US. Announcement • Nov 01
Akoya Biosciences to Showcase New Spatial Biology 2.0 Solutions and Spatial Phenotyping Data at SITC 2023 Akoya Biosciences Inc. announced that it will be showcasing its latest Spatial Biology 2.0 solutions and ultrahigh-plex (100+ protein biomarkers) spatial phenotyping data at the Society for Immunotherapy of Cancer (SITC) 38th Annual Meeting, being held in San Diego, California, November 1-5, 2023. At booth #719, Akoya Biosciences will highlight its new PhenoCycler-Fusion 2.0 and PhenoImager HT 2.0 platforms, which offer significant advancements in speed and scale for spatial biology research. PhenoCycler-Fusion 2.0: Features multi-slide automation, enabling researchers to generate ultrahigh-plex spatial phenotyping data for larger and more complex samples at unprecedented speed. PhenoImager HT 2.0: Features onboard spectral unmixing, which accelerates biomarker development and validation workflows. Ultrahigh-plex Spatial Phenotyping Reveals Markers Associated with Response to Immunotherapy Among the posters being presented at SITC is one describing the spatial tumor microenvironment landscapes of cutaneous squamous cell carcinoma (cSCC) tissues from patients over the course of immunotherapy treatment. An ultrahigh-plex antibody panel encompassing cell lineages, activation states, immune checkpoints, structural and metabolic markers was deployed on the PhenoCycler-Fusion platform for analysis of the tissue microenvironment. Cellular phenotypes, spatial neighborhoods and functional states driving tumor pathogenesis and response to immunotherapy were identified. The poster will be presented by Arutha Kulasinghe, Ph.D., leader of the Clinical-oMx Group at the Frazer Institute of the University of Queensland, Australia, and founding scientific director of the Queensland Spatial Biology Centre. Expanding Global Network of Contract Research Organizations (CROs) Providing Spatial Phenotyping Solutions Fourteen of Akoya’s eighteen qualified CRO service providers will also be exhibiting at SITC. Akoya’s CRO network continues to grow rapidly, reflecting the demand for spatial phenotyping solutions across the biopharmaceutical industry. Offering biomarker testing services, these CROs enable drug developers and academic research institutions to accelerate the discovery and development of new immuno-therapies. Price Target Changed • Oct 17
Price target decreased by 7.1% to US$13.13 Down from US$14.13, the current price target is an average from 8 analysts. New target price is 255% above last closing price of US$3.70. Stock is down 71% over the past year. The company is forecast to post a net loss per share of US$1.66 next year compared to a net loss per share of US$1.87 last year. Announcement • Oct 12
Akoya Biosciences, Inc. to Report Q3, 2023 Results on Nov 08, 2023 Akoya Biosciences, Inc. announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Announcement • Sep 20
Akoya Biosciences, Inc. Launches PhenoCycler-Fusion 2.0 and Phenoimager HT 2.0 Platform Upgrades Akoya Biosciences, Inc. highlighted the scale and speed in whole-slide, spatial biology workflows enabled by the recently launched PhenoCycler®-Fusion 2.0 and PhenoImager® HT 2.0 platform upgrades. Enhancements to the PhenoCycler-Fusion 2.0 System allow customers to process twice as many samples per week, making it the high throughput spatial discovery platform on the market. The PhenoImager 2.0 platform delivers a 5x workflow improvement by enabling rapid real-time image analysis directly on the HT instrument. With an unprecedented ability to perform whole-slide spatial biology at scale, Akoya’s customers can accelerate progress towards new discoveries, identification of clinically relevant biomarkers, and development of novel spatial signatures. The 2.0 enhancements, combined with Akoya’s PhenoCode™ Discovery and Signature Panels, and proprietary file compression and rapid image analysis, simplify and accelerate spatial biology workflows from panel development and validation to data analysis. The 2.0 Platforms are now actively being installed as field upgrades on existing systems, providing customers with immediate benefits in throughput expansion and a significant reduction in time from sample to answer. Recent Insider Transactions • Sep 12
Chief Operating Officer recently bought US$92k worth of stock On the 7th of September, Frederic Pla bought around 20k shares on-market at roughly US$4.60 per share. This transaction increased Frederic's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Frederic's only on-market trade for the last 12 months. Announcement • Aug 09
Akoya Biosciences, Inc. Provides Revenue Guidance for the Fiscal Year 2023 Akoya Biosciences, Inc. provided revenue guidance for the fiscal year 2023. for the year, the company expects revenue in the range of $95 million-$98 million. Price Target Changed • Aug 08
Price target decreased by 12% to US$14.14 Down from US$16.00, the current price target is an average from 7 analysts. New target price is 117% above last closing price of US$6.51. Stock is down 58% over the past year. The company is forecast to post a net loss per share of US$1.63 next year compared to a net loss per share of US$1.87 last year. Announcement • Jul 13
Akoya Biosciences, Inc. to Report Q2, 2023 Results on Aug 07, 2023 Akoya Biosciences, Inc. announced that they will report Q2, 2023 results After-Market on Aug 07, 2023 Price Target Changed • Jul 10
Price target decreased by 8.6% to US$16.00 Down from US$17.50, the current price target is an average from 8 analysts. New target price is 124% above last closing price of US$7.13. Stock is down 47% over the past year. The company is forecast to post a net loss per share of US$1.73 next year compared to a net loss per share of US$1.87 last year. New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$62m). Currently unprofitable and not forecast to become profitable over next 3 years (US$33m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • Jun 10
Akoya Biosciences, Inc. has completed a Follow-on Equity Offering in the amount of $43.5 million. Akoya Biosciences, Inc. has completed a Follow-on Equity Offering in the amount of $43.5 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 8,700,000
Price\Range: $5 Announcement • Jun 08
Akoya Biosciences, Inc. Announces Executive Changes On June 7, 2023, Akoya Biosciences, Inc. announced that Ms. Marilee Moy and Dr. Ehab El-Gabry were terminated as Chief People Officer and Chief Medical Officer, respectively. Reported Earnings • May 10
First quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2023 results: US$0.49 loss per share (further deteriorated from US$0.44 loss in 1Q 2022). Revenue: US$21.4m (up 27% from 1Q 2022). Net loss: US$18.8m (loss widened 15% from 1Q 2022). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Life Sciences industry in the US. Announcement • May 09
Akoya Biosciences, Inc. Provides Revenue Guidance for the Full Year 2023 Akoya Biosciences, Inc. provides revenue guidance for the full year 2023. The company continues to expect full year 2023 revenue guidance range of $95-98 million. Price Target Changed • Apr 21
Price target decreased by 7.9% to US$17.50 Down from US$19.00, the current price target is an average from 8 analysts. New target price is 140% above last closing price of US$7.30. Stock is down 28% over the past year. The company is forecast to post a net loss per share of US$1.85 next year compared to a net loss per share of US$1.87 last year. Major Estimate Revision • Mar 15
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from US$93.1m to US$96.2m. Forecast EPS reduced from -US$1.69 to -US$1.87 per share. Life Sciences industry in the US expected to see average net income growth of 3.4% next year. Consensus price target down from US$19.00 to US$18.00. Share price fell 20% to US$8.51 over the past week. Reported Earnings • Mar 08
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: US$1.87 loss per share (further deteriorated from US$1.65 loss in FY 2021). Revenue: US$74.9m (up 36% from FY 2021). Net loss: US$70.6m (loss widened 59% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Life Sciences industry in the US. Announcement • Feb 07
Akoya Biosciences, Inc. to Report Q4, 2022 Results on Mar 06, 2023 Akoya Biosciences, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 06, 2023 Announcement • Feb 02
Akoya Biosciences, Inc. to Present First-of-its-Kind Spatial Multiomics Dataset at 2023 AGBT General Meeting Akoya Biosciences, Inc. will present results from a novel same-section, spatial multiomic study at the Advances in Genome Biology and Technology (AGBT) Annual Meeting being held in Hollywood, Florida from February 6-9, 2023. Leveraging the high-speed imaging platform, PhenoCycler®-Fusion, company scientists to showcase how imaging both RNA and protein biomarkers simultaneously, in a single tissue section, can give a more complete picture of tumor biology. Protein and RNA biomarkers play complementary roles in defining cell phenotypes and cell states, respectively, in a tissue sample. Proteins are the key effectors of cell function and detecting cell surface protein markers can serve as a ground truth for cell identity. RNA markers such as cytokines and chemokines can provide an insight into signaling pathways that result in changes in cell states, arising from interactions within the tumor microenvironment. Measuring both analytes within the same tissue can give researchers an accurate picture of tumor progression and response to therapy. First unveiled at the AGBT Annual Meeting in 2022, the company’s RNA chemistry was combined with the company’s industry-leading proteomics offering in a novel multiomic study featuring 46 samples, 23 tissue types and simultaneous detection of RNA and protein biomarkers from each section. The ability to scale the chemistry across multiple samples and a diversity of tissue types is a key requirement for discovering robust biomarker signatures. The study was conducted on the PhenoCycler-Fusion System which enables rapid imaging of whole slides at single-cell resolution. In addition to the speed of imaging, the system has a proprietary file compression algorithm that can reduce file sizes from terabytes to gigabytes. This powerful combination makes it easier for researchers to scale up their studies with higher weekly throughput, while reducing data storage costs. Announcement • Jan 09
Akoya Biosciences, Inc. Provides Revenue Guidance for the Fourth Quarter and Fiscal Year 2022 Akoya Biosciences, Inc. provided revenue guidance for the fourth quarter and fiscal year 2022. For the quarter company expects revenue to be between $20.7 million and $21.2 million, as compared to $16.2 million for the corresponding quarter of last year. For the fiscal year of 2022, revenue is expected to be between $74.3 million and $74.8 million, as compared to $54.9 million for fiscal year 2021. Recent Insider Transactions Derivative • Dec 28
Chief Financial Officer exercised options to buy US$2.2m worth of stock. On the 22nd of December, Joseph Driscoll exercised options to buy 250k shares at a strike price of around US$0.44, costing a total of US$110k. This transaction amounted to 2,000% of their direct individual holding at the time of the trade. Joseph now holds 12.50k shares directly in their own name. Company insiders have collectively sold US$1.1m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 18
Chief Financial Officer exercised options and sold US$298k worth of stock On the 14th of December, Joseph Driscoll exercised 25k options at a strike price of around US$0.44 and sold these shares for an average price of US$12.54 per share. This trade did not impact their existing holding. Since March 2022, Joseph has not owned shares directly. Company insiders have collectively sold US$1.2m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 09
President exercised options and sold US$59k worth of stock On the 6th of December, Brian McKelligon exercised 5k options at a strike price of around US$0.30 and sold these shares for an average price of US$12.08 per share. This trade did not impact their existing holding. For the year to December 2019, Brian's total compensation was 17% salary and 83% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Brian now holds 80.00k shares directly in their own name. Company insiders have collectively sold US$938k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Dec 03
Co-Founder recently sold US$67k worth of stock On the 1st of December, Garry Nolan sold around 5k shares on-market at roughly US$13.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$325k. Garry has been a net seller over the last 12 months, reducing personal holdings by US$1.1m. Recent Insider Transactions Derivative • Nov 18
Co-Founder notifies of intention to sell stock Garry Nolan intends to sell 32k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of November. If the sale is conducted around the recent share price of US$13.18, it would amount to US$426k. Since December 2021, Garry's direct individual holding has decreased from 655.08k shares to 598.38k. Company insiders have collectively sold US$785k more than they bought, via options and on-market transactions in the last 12 months. 