FLDM Franklin LibertyQT International Equity Index ETF Overview
Upon closing of the investment, which is expected in late Q1, Fluidigm will change its name to Standard BioTools Inc., better reflecting its ambitions to become an essential solutions partner to the life science industry focused on the highest growth areas of biological discovery and development. The impact of the difficult situation caused by Covid-19 at the beginning of 2020, which is still affecting the financial situation of many companies in the diagnostic industry, including due to supply chain disruptions, the company’s business continues to develop in a positive direction. Under the leadership of Chris Linthwaite and according to preliminary results, the company’s revenue was 38.2 million dollars in the 4th quarter, an increase of 36.4% from the previous quarter.
This will allow for patients that may be suffering from the coronavirus to be tested without a nasal swab. Jefferies is serving as financial advisor to Fluidigm and Wilson Sonsini Goodrich & Rosati, Professional Corporation is serving as legal advisor. “The Company has vast untapped potential in bringing its leading technologies, such as CyTOF®, to a broader set of biopharma and pharma customers worldwide,” said Dr. Martin D. Madaus, former chairman and CEO of Millipore Corporation and Ortho Clinical Diagnostics.
To determine Fluidigm’s target price, I used a discounted cash flow model through the end of 2025, using the Revenue ratio to estimate the value of the company. I made the following assumptions based on historical data, company management forecasts for 2021, and also my assessment of Fluidigm products and developments for the next 5 years. Continued quarter-over-quarter revenue growth, the potential expansion of mass cytometry applications in various areas of the pharmaceutical industry, and the launch of next-generation equipment sales in 2021 make Fluidigm Corporation an excellent candidate for long-term investors. The investment will significantly advance the Company’s mission through new organic and inorganic growth initiatives while optimizing its cost structure.
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Mass cytometry and the company’s patent technology, namely CyTOF, allow you to simultaneously determine about 50 markers and flow cytometry only no more than 13 markers. The benefits of mass cytometry are reflected in the growth in research volumes in which this technology is used. Sales of CyTOF XT introduced to the scientific community in the first half of 2021 showed a 133% increase in sales in Q compared to Q2 2021.
Under the terms of the agreement, Casdin and Viking will purchase $250 million aggregate principal amount of zero-coupon convertible preferred shares with a conversion price of $3.40 per share. The conversion price represents a conversion premium of approximately 19.7 percent over the closing price of Fluidigm’s common stock of $2.84 per share on January 21, 2022. On an as-converted basis, the preferred shares will represent approximately 42.4 percent of Fluidigm’s pro forma shares outstanding. From the $250 million aggregate investment commitment, Casdin and Viking are providing immediate financing of $25 million in the form of convertible unsecured term loans to support Fluidigm’s continuing operations. It is expected that these loans, which will bear an initial interest rate of 10 percent per annum, payable in kind, will be converted into preferred shares in connection with the approval of the investment by Fluidigm stockholders.
Fluidigm Corporation (FLDM):
As a result, on January 11, 2022, Rover Labs partnered with Fluidigm to announce the start of Covid-19 testing at more than 200 New Jersey public schools through the end of the school year. The company’s estimate that thousands of tests a day will be carried out, thus contributing to the improvement of the epidemiological situation in the state. A significant increase in demand for the company’s Covid-19 testing services will help improve https://business-oppurtunities.com/corporate-career-development-networking-part-2-a-starting-plan/ the company’s cash flow in 2022. In my estimation, the downward trend in net loss will continue in the coming years as revenue from Covid-19 testing increases, sales of CyTOF XT increase, new product launches around the world and the performance of existing equipment increases. Such information may be deemed material information, and Fluidigm may use these channels to comply with its disclosure obligations under Regulation FD.
Additional information may be found in the Form 8-K that will be filed today with the U.S. Fluidigm is a leader in the development of equipment and diagnostic solutions in the emerging field of mass cytometry. Fluidigm Corporation develops, manufactures, and markets life science analytical and preparatory systems for growth markets such as single-cell biology and production genomics.
Fluidigm Corporation has license agreements with California Institute of Technology, Harvard University, and Caliper Life Sciences, Inc. The company was formerly known as Mycometrix Corporation and changed its name to Fluidigm Corporation in April 2001. Fluidigm Corporation was incorporated in 1999 and is headquartered in South San Francisco, California. Casdin Capital, LLC is a New York-based research investment firm focused on the innovations currently reshaping life sciences and healthcare. In addition, on February 10, 2021, an agreement was reached with PLT Tech, under which the company will sell CyTOF equipment and reagents in China, where the target market is growing at a double-digit rate, thus creating huge opportunities for significant growth in the company’s revenue in the future. For the last 16 years he has analyzed and invested in disruptive technologies and business models in life sciences and healthcare.
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It should be noted that this coefficient for the company is significantly lower than the average value for the selected companies, which is one of the signals that Wall Street underestimates Fluidigm. Fluidigm, its directors and certain executive officers are participants in the solicitation of proxies from shareholders in connection with the Transaction. Fluidigm plans to file a proxy statement (the “Transaction Proxy Statement”) with SEC in connection with the solicitation of proxies to approve the Transaction. Founded in 1999, Viking is a global investment management firm that manages approximately $48 billion of capital for its investors. It has offices in Greenwich, New York, Hong Kong, London, and San Francisco and is registered as an investment adviser with the U.S.
Information relating to the foregoing can also be found in Fluidigm’s definitive proxy statement for its 2021 Annual Meeting of Shareholders (the “2021 Proxy Statement”), which was filed with the SEC on April 14, 2021. To the extent that holdings of Fluidigm’s securities by such persons have changed since the amounts printed in the 2021 Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. As part of President Biden’s strategy, in Q1 2021, HHS announced it would begin investing in Covid-19 school testing totaling about $10 billion.
- Chris Linthwaite, president and CEO of Fluidigm, said this about the news boosting FLDM stock up today.
- Given the risks and catalysts described in the article, I set a target price of Fluidigm at $10 per share until 2025.
- Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating.
- Casdin Capital, LLC is a New York-based research investment firm focused on the innovations currently reshaping life sciences and healthcare.
- After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.
The transaction, which is expected to close in the first quarter of 2022, is subject to the satisfaction of customary closing conditions, including approval by Fluidigm stockholders and applicable regulatory approvals. As a result, the increase in rates may have a negative impact on the growth of index quotations and, as a result, lead to a temporary decrease in the prices of the company’s shares. To put that in perspective, the stock’s daily average trading volume is 1.97 million shares. Also, according to the company’s plans, it is expected to improve the characteristics of cytometers in the future. Let’s take a closer look at the most promising diagnostic direction of the company, in which the company continues to strive not only to expand its geographical presence but also to produce more productive equipment.
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Prior to founding Casdin Capital, Mr. Casdin was a vice president at Alliance Bernstein “thematic” based investment group where he researched and invested in the implications of new technologies for the life science and healthcare sectors. Mr. Casdin’s Alliance Bernstein black book, “The Dawn of Molecular Medicine” detailed the early yet already accelerating wave of innovations in life sciences, and the next wave of investment opportunities. His prior experience includes time at Bear Stearns and Cooper Hill Partners, a healthcare focused investment firm. Fluidigm is a leader in the development of equipment and diagnostic solutions in a nascent field like mass cytometry, which has had a negative impact on cash flow. However, since the launch of CyTOF XT and the Hyperion Imaging System, things have begun to improve.
- It sells its products to academic research institutions; translational research and medicine centers; cancer centers; clinical research laboratories; biopharmaceutical, biotechnology, and plant and animal research companies; and contract research organizations.
- Let’s take a closer look at the most promising diagnostic direction of the company, in which the company continues to strive not only to expand its geographical presence but also to produce more productive equipment.
- When determining the target price of the company, several criteria were taken into account, namely, an EV/Revenue ratio, equal to 15.8x, calculated on the basis of data from diagnostic companies.
- His prior senior roles include being the Chief Technology Officer of Danaher Life Sciences and leading Danaher’s corporate venture fund.
Therefore, investors should monitor Fluidigm’s website and our social media accounts in addition to following its press releases, SEC filings, public conference calls, and webcasts. Egholm has over 25 years of proven leadership in developing and commercializing innovative technologies. His prior senior roles include being the Chief Technology Officer of Danaher Life Sciences and leading Danaher’s corporate venture fund. While at Danaher, he led Pall’s Biopharm business and redesigned its go-to-market structure, leading to its multibillion-dollar revenue today. Egholm was the Chief Technology Officer at Pall, where he reestablished Pall as a technology leader, and at 454 Life Sciences Corporation, the first company to successfully commercialize Next Gen Sequencing. When determining the target price of the company, several criteria were taken into account, namely, an EV/Revenue ratio, equal to 15.8x, calculated on the basis of data from diagnostic companies.
Fluidigm Corporation creates, manufactures, and markets instruments, consumables, reagents, and software for researchers and clinical laboratories worldwide. It offers analytical systems, such as Helios, a CyTOF system, as well as Hyperion imaging systems, Hyperion tissue imagers, and flow conductors; and assays and reagents, including Maxpar reagents, Maxpar direct immune profiling assays, Maxpar on demand reagents, and IMC panel kits for immuno-oncology. The company also provides preparatory instruments, such as Juno systems; and analytical instruments comprising Biomark HD system and EP1 system. Further, the company offers single cell microfluidics that comprise C1 systems; preparatory analytical instruments, which include C1 IFCs; and software solutions. It sells its products to academic research institutions; translational research and medicine centers; cancer centers; clinical research laboratories; biopharmaceutical, biotechnology, and plant and animal research companies; and contract research organizations.
Below are the latest news stories about Fluidigm Corp that investors may wish to consider to help them evaluate FLDM as an investment opportunity. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.
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Given the risks and catalysts described in the article, I set a target price of Fluidigm at $10 per share until 2025. Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. Chris Linthwaite, president and CEO of Fluidigm, said this about the news boosting FLDM stock up today. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
Upon closing, Dr. Egholm will serve as President and CEO and as a member the Board of Directors. Egholm will succeed Chris Linthwaite, who continues as Fluidigm’s Chief Executive Officer until the earlier of closing or May 15, 2022, and who will remain in an advisory role until November 30, 2022 to ensure a smooth transition. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
Nicolas M. Barthelemy, Gerhard F. Burbach, Laura M. Clague, Bill W. Colston, S. Christopher Linthwaite, Carlos V. Paya and Ana K. Stankovic, all of whom are members of Fluidigm’s Board of Directors, and Vikram Jog, who is Fluidigm’s Chief Financial Officer, are participants in Fluidigm’s solicitation. Other than Mr. Linthwaite, none of such participants owns in excess of 1% of Fluidigm’s common stock. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the Transaction Proxy Statement and other relevant documents to be filed with the SEC in connection with the Transaction.