Twist Bio falls after downbeat revenue forecast for Q2

Twist Bioscience

03/02/2023 15:39

** Shares of Twist Bioscience Corp  TWST.O  fall 20.8% to
$24.47
    ** Stock set for its biggest one-day pct fall in nearly 3
months if losses hold 
    ** TWST, which makes synthetic DNA and related products, 
expects its Q2 2023 revenue to be ~$56.5 mln, below analysts'
average estimate of $61.94 mln - Refinitiv
    ** Reports Q1 revenue of $54.2 mln, compared with ests of
$54.1 - Refinitiv
    ** Co says it intends to increase manufacturing capabilities
in Portland to tap into the DNA makers market
    ** As of Dec 31,2022, had $438.7 mln in cash, cash
equivalents and investments - TWST     
    ** Including session's move, stock down ~59% in past 12
months 
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))