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SINGAPORE - Precision Health Research, Singapore (PRECISE-SG100K) has selected Standard BioTools Inc.’s (NASDAQ:LAB) SomaScan 11K Assay to analyze 100,000 plasma samples from its biobank, the company announced Wednesday. The company, with a market capitalization of $494 million, has demonstrated strong revenue growth of 34% over the last twelve months, maintaining a healthy gross profit margin of 47%.
The decision followed what the company described as a comprehensive evaluation of competitive proteomics offerings, with SomaScan chosen for its proteome coverage, reproducibility and service quality. According to InvestingPro data, Standard BioTools maintains a strong financial position with more cash than debt on its balance sheet and a robust current ratio of 6.12, indicating solid operational stability. Get access to 8 more exclusive InvestingPro Tips for Standard BioTools and comprehensive analysis of 1,400+ stocks through Pro Research Reports.
PRECISE-SG100K aims to transform healthcare in Singapore through data-driven solutions, drawing on the country’s multi-ethnic population with supporting data from participant questionnaires and health insights.
"Our vision is to shape the future of precision medicine through one of the world’s most ambitious population health research programs," said Professor John Chambers, Chief Scientific Officer of PRECISE and Lead Investigator of the SG100K population cohort study.
The SG100K study is a long-term project that will monitor health outcomes and identify environmental, lifestyle and genetic factors associated with diseases such as diabetes, hypertension, and cancer. While Standard BioTools shows promising technological adoption, InvestingPro analysis indicates the company is currently undervalued, despite facing near-term profitability challenges. Discover more insights and make informed investment decisions with InvestingPro’s comprehensive Fair Value analysis and financial health scores.
Standard BioTools reports that SomaScan technology has been used in more than 30 biobank studies worldwide, including three major additions this year totaling nearly 160,000 samples. These include BioAge Labs’ profiling of more than 17,000 samples from Norway’s HUNT Biobank and Illumina’s pilot proteomics program analyzing 50,000 UK Biobank samples.
"Platform choice is mission critical for these researchers and needs to be focused on throughput, reproducibility and depth of measurement," said Stephen Williams, Chief Medical Officer of Standard BioTools, in the press release statement.
The PRECISE-SG100K program is supported by Singapore’s National Research Foundation under the RIE2020 White Space and administered by the Singapore Ministry of Health through the National Medical Research Council Office.
In other recent news, Standard BioTools Inc. reported a net loss for the first quarter of 2025, with earnings per share (EPS) of -$0.07, which was below analyst expectations of -$0.06. The company’s revenue also fell short of projections, totaling $40.8 million compared to the anticipated $45.6 million. Additionally, Standard BioTools announced the sale of its SomaLogic business to Illumina, Inc. for up to $425 million in cash. This transaction includes $350 million in upfront cash and up to $75 million in milestone payments, along with 2% royalties on certain sales for the next ten years. Furthermore, Standard BioTools’ board of directors approved restricted stock unit (RSU) retention awards for CEO Michael Egholm and CFO Alex Kim. Dr. Egholm will receive 3,000,000 RSUs, with vesting conditions tied to his continued employment. These developments provide investors with significant updates on the company’s financial performance and strategic moves.
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