Ginkgo slumps after forecasting 2024 revenue below estimates

Ginkgo Bioworks Holdings

01/03/2024 13:43

** Shares of biotech co Ginkgo Bioworks  DNA.N  fall ~13.2%
to $1.32 premarket
    ** Co forecasts 2024 revenue between $215 mln and $235 mln,
below analysts' average estimates of $250.10 mln - LSEG data
    ** DNA's quarterly revenue fell 65% to $34.80 mln, missing
analysts' average expectations of $42.50 mln
        ** Says the decrease in revenue was due to weakness in
its cell engineering and biosecurity segments
  
    ** Up to last close, stock up 8.6% in the last 12 months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))