Microvast Holdings announces departure of chief financial officer
BOSTON—Steven P. Coen, the Chief Accounting Officer at Ginkgo Bioworks Holdings, Inc. (NYSE:DNA), recently sold shares of the company’s Class A Common Stock valued at approximately $4,933. The transaction, which took place on February 4, involved the sale of 367 shares at an average price of $13.443 per share. The sale comes amid a strong year-to-date performance for DNA, with shares up over 66% in 2025.
In addition to the sale, Coen executed two transactions on February 3, acquiring a total of 743 shares through the vesting of restricted stock units. These acquisitions did not involve a cash transaction as they were part of the company’s equity incentive plans.
The stock sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as specified in the company’s equity incentive plans. This type of transaction is not considered a discretionary trade by the reporting executive. Following these transactions, Coen holds direct ownership of 7,664 shares of Ginkgo Bioworks.
In other recent news, Ginkgo Bioworks has been making strides in both collaboration and financial management. The biosecurity firm has joined forces with Carnegie Mellon University to develop bioelectronic devices aimed at diagnosing and treating hormone disorders. The project, known as BIO-INSYNC, is funded by a $9.4 million subcontract from the Advanced Research Projects Agency for Health’s Resilient Extended Automatic Cell Therapies program. These developments are part of Ginkgo’s ongoing commitment to addressing complex health challenges through partnerships with academic institutions and innovative funding agencies.
On the financial front, Ginkgo Bioworks has reported its third-quarter results for 2024, with a focus on strategic progress and significant cost reductions. Despite a 20% decrease in cell engineering revenue, the company managed to achieve a $9 million milestone with Merck (NSE:PROR) and reported growth in active programs and customers. The company also improved its adjusted EBITDA to negative $20 million, a substantial enhancement from negative $84 million in the same quarter last year. Ginkgo updated its full-year revenue guidance to $215 million to $235 million and aims to reach adjusted EBITDA breakeven by mid-2026. These recent developments highlight Ginkgo Bioworks’ efforts in financial management and innovative health solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.