Akoya Biosciences falls after slashing annual revenue forecast

Akoya Biosciences

15/11/2024 12:45

** Scientific tools maker Akoya Biosciences'  AKYA.O  shares
fall 21.1% to $2.47 premarket
    ** On Thursday, co forecast 2024 rev. between $80 mln and
$85 mln, lower than prior range of $96 mln to $104 mln 
    ** Co makes products used by academics and biotechs to
detect and map cell types and biomarkers, to help them
understand patient response to therapy
    ** Since 2023, high interest rates have forced biotech
companies, clients of life science firms, to cut spending 
    ** Co posted Q3 sales of $18.8 mln, missing avg analysts'
est. of $25.4 mln - LSEG
    ** As of last close, stock has fallen ~36% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))