Akoya Biosciences, Inc. (AKYA) Bundle
A Brief History of Akoya Biosciences, Inc. (AKYA)
Founding and Early Years
Founding and Early Years
Akoya Biosciences, Inc. was founded in 2015, emerging from the rich landscape of biotechnology driven by advancements in spatial biology. Headquartered in Menlo Park, California, the company focuses on providing innovative spatial biology solutions through its advanced imaging technologies.
Initial Public Offering
On March 25, 2021, Akoya Biosciences went public through an initial public offering (IPO) on the NASDAQ under the ticker symbol AKYA. The IPO raised approximately $100 million, with shares priced at $16.00 each.
Product Offerings and Technology Development
Akoya specializes in multiplexed tissue analysis products, including the Phenoptics platform, which allows for simultaneous imaging of multiple biomarkers. In 2022, the company launched its new platform, the AKOYA' platform, aimed at enhancing data acquisition and processing capabilities.
Financial Performance
In the fiscal year 2022, Akoya reported revenues of $22.3 million, a significant increase from $17.5 million in 2021. The cost of goods sold increased to $9.2 million from $6.5 million the previous year, impacting gross profit.
| Year | Revenue ($ million) | Cost of Goods Sold ($ million) | Gross Profit ($ million) | Net Loss ($ million) |
|---|---|---|---|---|
| 2020 | 14.0 | 5.5 | 8.5 | (13.1) |
| 2021 | 17.5 | 6.5 | 11.0 | (18.2) |
| 2022 | 22.3 | 9.2 | 13.1 | (22.7) |
Market Expansion and Collaborations
In 2022, Akoya expanded its market presence by entering collaborations with significant research institutions aimed at advancing cancer research and diagnostics. The company reported over 150 partnerships with various academic and commercial entities.
Recent Developments
As of Q2 2023, Akoya launched a new product, the VECTRA Polaris, designed for high-throughput analysis of tissue samples. This product aims to enhance the company’s portfolio in spatial biology, targeting both academic and pharmaceutical research markets.
Stock Performance
As of October 2023, Akoya's stock price is approximately $7.50 per share. The company has a market capitalization of around $300 million.
| Date | Stock Price ($) | Market Capitalization ($ million) | Volume (shares traded) |
|---|---|---|---|
| March 2021 | 16.00 | 400 | 4,000,000 |
| March 2022 | 9.00 | 225 | 2,500,000 |
| October 2023 | 7.50 | 300 | 1,000,000 |
Outlook and Future Plans
Looking ahead, Akoya aims to invest in research and development, targeting an increase in its product offerings and expanding its global reach. The company projects a revenue target of $30 million for the fiscal year 2023.
A Who Owns Akoya Biosciences, Inc. (AKYA)
Current Ownership Structure
Current Ownership Structure
The ownership of Akoya Biosciences, Inc. (AKYA) is distributed among various institutional and retail investors, with a significant proportion held by institutional shareholders.
| Shareholder Type | Percentage Ownership | Number of Shares Owned |
|---|---|---|
| Insider Ownership | 5.5% | 1,691,800 |
| Institutional Investors | 63.2% | 19,221,500 |
| Retail Investors | 31.3% | 9,531,700 |
Major Institutional Shareholders
The following are some of the major institutional shareholders of Akoya Biosciences, Inc. as of the latest filing:
| Institution Name | Percentage Ownership | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 15.7% | 4,790,000 |
| The Vanguard Group, Inc. | 10.5% | 3,210,000 |
| Wellington Management Co. LLP | 8.2% | 2,500,000 |
Insider Ownership
Insider ownership, which includes board members and executives, also plays a vital role in the company's governance and strategic direction:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Brian J. McKernan | CEO | 500,000 | 1.6% |
| Andrew M. T. Ginsburg | CFO | 400,000 | 1.3% |
| Elizabeth L. Stoner | Director | 300,000 | 0.9% |
Stock Performance Overview
As of the latest trading session, Akoya Biosciences shares were trading at approximately $7.25 per share. The market capitalization is calculated as follows:
Market Capitalization: 31,000,000 shares x $7.25 = $224,750,000
Recent Shareholders' Meetings
In the most recent shareholders' meeting held in June 2023, various financial decisions were made including:
- Approval of the 2023 incentive plan.
- Discussion of expansion into European markets.
- Review of the fiscal year financial performance, reporting a revenue increase of 15% year-over-year.
Future Outlook and Strategic Initiatives
Akoya Biosciences has outlined several strategic initiatives aimed towards growth, particularly in:
- Expanding product offerings in spatial biology.
- Enhancing customer engagement through improved service delivery.
- Potential acquisition of complementary biotech companies to bolster research capabilities.
Conclusion of Ownership Analysis
The ownership distribution of Akoya Biosciences, Inc. reflects a strong institutional backing, coupled with key insider engagement, positioning the company for future growth within the biotech sector.
Akoya Biosciences, Inc. (AKYA) Mission Statement
Company Overview
Akoya Biosciences, Inc. is a leading provider of spatial biology solutions. The company's mission is to enable researchers to explore the spatial context of biology in tissue samples at unprecedented levels of detail. In 2022, Akoya reported revenues of approximately $35 million, marking a year-over-year growth of 35% from 2021. The company aims to empower researchers in various fields, including cancer research, immunology, and neuroscience.
Core Values
- Innovation: Continuous improvement and cutting-edge technology in spatial biology.
- Collaboration: Building partnerships with leading institutions and researchers.
- Integrity: Maintaining high ethical standards in research and development.
- Customer Focus: Providing excellent service and understanding customer needs.
Technological Commitment
Akoya is committed to providing advanced imaging and analysis technologies that support complex biological inquiries. The company launched its latest platform, the Phenoptics™, which integrates multiplex immunofluorescence with digital pathology capabilities. This technology is essential for by enabling the visualization of multiple biomarkers in a single tissue sample, thus enhancing the understanding of disease mechanisms.
Financial Performance
As of Q3 2023, Akoya's financials reflect a strong market presence, with a gross margin of 65%. The company's operating expenses for Q2 2023 were reported at $18 million, primarily due to investments in R&D and sales expansion. Below is a table summarizing Akoya's financial performance over the last three fiscal years:
| Fiscal Year | Revenue ($ Million) | Gross Margin (%) | Operating Expenses ($ Million) |
|---|---|---|---|
| 2021 | 26 | 60 | 15 |
| 2022 | 35 | 62 | 18 |
| 2023 (Q3 annualized) | 47 | 65 | 22 |
Market Position
Akoya is well-positioned within the spatial biology market, which is estimated to reach $7 billion by 2026, growing at a CAGR of 24% from 2021. The company's products are deployed in over 1000 research institutions globally. Akoya’s clients include prestigious organizations such as Johns Hopkins University and Harvard University.
Future Directions
Looking forward, Akoya plans to expand its product offerings and enhance the accessibility of its technologies to a broader range of researchers. The company anticipates a sustained annual growth rate driven by innovations in spatial biology and increasing demand for comprehensive biomarker analysis.
Conclusion
Akoya Biosciences, Inc. continues to be a pioneer in the spatial biology landscape, dedicated to its mission of advancing scientific discovery through innovative solutions and a customer-centric approach.
How Akoya Biosciences, Inc. (AKYA) Works
Company Overview
Akoya Biosciences, Inc. (NASDAQ: AKYA) specializes in spatial biology, offering innovative solutions for understanding the complex interactions within tissues. The company focuses on expanding its offerings to enhance life sciences research.
Product Portfolio
Akoya's product portfolio includes a range of instruments and reagents designed for multiplexed imaging and analysis. Key products include:
- CODEX® System
- Phenoptics™
- InSituPlex™
Financial Performance
As of Q2 2023, Akoya reported a revenue of $10.4 million, reflecting a 23% increase compared to the previous year. The year-over-year growth is attributed to increased demand for its spatial biology platforms.
The gross margin was reported at 62%, with a net loss amounting to $3.5 million for the same quarter.
Market Position
Akoya has established a significant presence in the spatial biology market, which is projected to reach $11.2 billion by 2028, growing at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2028.
Partnerships and Collaborations
Akoya has engaged in strategic partnerships to enhance its technological capabilities:
- Collaboration with Thermo Fisher Scientific
- Partnership with GE Healthcare
Research and Development
In 2023, Akoya invested approximately $5 million in R&D. The focus includes enhancing imaging technologies and expanding its reagent offerings.
Table: Financial Summary (Q2 2023)
| Metric | Value |
|---|---|
| Revenue | $10.4 million |
| Year-over-Year Growth | 23% |
| Gross Margin | 62% |
| Net Loss | $3.5 million |
| R&D Investment | $5 million |
| Market Projection (2028) | $11.2 billion |
| CAGR (2021-2028) | 9.5% |
Customer Base
Akoya’s customers include leading academic institutions, pharmaceutical companies, and clinical researchers focused on cancer and neurodegenerative diseases.
Sales Strategy
Akoya employs a direct sales strategy supplemented by a growing distribution network. The company aims to expand its presence in international markets, particularly in Europe and Asia.
Future Outlook
With a focus on innovation and expanding its product line, Akoya aims for sustainable growth in the spatial biology market. The company plans to introduce new products in 2024 that leverage advancements in imaging techniques.
How Akoya Biosciences, Inc. (AKYA) Makes Money
Overview of Business Model
Akoya Biosciences, Inc. operates within the biotechnology sector, primarily focusing on spatial biology solutions. The company generates revenue through several streams, including the sale of instruments, consumables, and services associated with their proprietary technology for multiplexed tissue imaging.
Revenue Streams
- Instrument Sales: Akoya sells high-end imaging systems to academic and clinical research institutions.
- Consumables: This includes reagents and kits essential for the operation of their systems.
- Service Contracts: The company provides ongoing support and maintenance for their instruments.
- Collaboration Revenue: Partnerships with pharmaceutical companies for biomarker discovery and development projects.
Financial Performance
As of the latest fiscal year ending December 31, 2022, Akoya Biosciences, Inc. reported the following financial data:
| Financial Metric | Amount (USD) |
|---|---|
| Total Revenue | $23.7 million |
| Cost of Goods Sold (COGS) | $10.5 million |
| Gross Profit | $13.2 million |
| Operating Expenses | $21.5 million |
| Net Loss | ($8.3 million) |
Market Demand and Customer Base
Akoya's customers primarily include:
- Academic Research Institutions
- Clinical Laboratories
- Pharmaceutical and Biotech Companies
Market demand for spatial biology technologies has been growing significantly, with projected market growth at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2028.
Sales Growth
In the fiscal year 2022, Akoya experienced a revenue growth of approximately 24% compared to the previous year. Instrument sales saw a notable increase and accounted for 55% of total revenue, reflecting the higher adoption rates of their systems in research settings.
Investment and Funding
In 2022, Akoya raised $35 million in a public offering, which was utilized to expand product development and market reach. The use of proceeds from this offering included:
- Research and Development: $15 million
- Sales and Marketing: $10 million
- General Corporate Purposes: $10 million
Future Growth Strategies
Akoya aims to enhance revenue through:
- Expanding their product portfolio to include new imaging technologies.
- Increasing market penetration in international markets.
- Establishing partnerships for drug development initiatives.
Competitors
Key competitors in the spatial biology market include:
- 10X Genomics
- Cell Signaling Technology
- Leica Biosystems
Understanding the competitive landscape is crucial for Akoya's strategic positioning and to maintain its market share.
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