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Cytek Biosciences , Inc. (NASDAQ:CTKB), a life sciences company currently trading below its InvestingPro Fair Value despite maintaining strong liquidity metrics, held its 2025 annual meeting of stockholders on Wednesday, June 18. The company, which has seen its stock decline by roughly 52% over the past six months, gathered stockholders to vote on the election of directors, executive compensation, and the ratification of the company’s independent auditor.
Of the 127,599,142 shares of common stock outstanding as of the record date, 103,869,471 shares, or approximately 81.4%, were represented at the meeting. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 5.62, indicating strong ability to meet short-term obligations.
For the election of Class I directors, Richard Chin, MD, was elected to serve until the 2028 annual meeting, receiving 81,794,582 votes for and 208,499 votes withheld, with 21,866,390 broker non-votes. Deborah Neff received 33,819,367 votes for and 48,183,714 votes withheld, with the same number of broker non-votes.
Stockholders also approved, on a non-binding advisory basis, the compensation paid to the company’s named executive officers for the year ended December 31, 2024. The vote totals were 76,368,883 in favor, 5,630,057 against, and 4,141 abstentions, with 21,866,390 broker non-votes.
In addition, the selection of Deloitte & Touche LLP as Cytek Biosciences’ independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. The vote was 95,862,612 in favor, 7,657,004 against, and 349,855 abstentions.
Cytek Biosciences is listed on the Nasdaq Global Select Market under the symbol CTKB. All information is based on a press release statement and the company’s SEC filing.
In other recent news, Cytek Biosciences Inc. reported its first-quarter earnings for 2025, revealing a net loss that exceeded expectations and a revenue shortfall. The company posted an earnings per share (EPS) of -$0.09, which was significantly below the anticipated -$0.02, while revenue reached $41.5 million, falling short of the expected $43.82 million. This represents a 7.6% decrease in revenue year-over-year, despite a 24% increase in service revenue. Cytek Biosciences has maintained its full-year revenue guidance of $196-210 million, anticipating stronger growth in the latter half of the year. Meanwhile, TD Cowen downgraded Cytek Biosciences from Buy to Hold, reducing the price target from $7 to $4, citing concerns over the company’s recent performance and future revenue projections. The downgrade highlights challenges such as exposure to NIH funding and the Chinese market, along with increased export controls. Cytek Biosciences’ management remains cautious about near-term prospects but emphasizes their leadership in the cell analysis market and a strong international presence, with over 50% of revenue generated outside the United States.
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