Quanterix advances towards Akoya Biosciences acquisition

Quanterix Corp (NASDAQ:QTRX), a leader in laboratory analytical instruments with a market capitalization of $304 million, has cleared a significant regulatory hurdle in its planned acquisition of Akoya Biosciences, Inc., as the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (HSR Act) expired on Monday, February 24, 2025, without any objections from antitrust authorities.

The transaction, first announced on January 9, 2025, involves Quanterix’s subsidiary, Wellfleet Merger Sub, Inc., merging with Akoya, with the latter to emerge as a wholly-owned subsidiary of Quanterix. The merger is subject to customary closing conditions, including approval from both companies’ stockholders. According to InvestingPro data, Quanterix maintains a strong financial position with a current ratio of 10.07, indicating robust liquidity to support the merger process.

Quanterix and Akoya have already made the necessary filings with the Department of Justice and the Federal Trade Commission and are now moving forward with the merger process. The companies expect the merger to be completed in the second quarter of 2025, provided all conditions are met.

The proposed acquisition is detailed in the Registration Statement filed with the U.S. Securities and Exchange Commission on February 13, 2025, which includes a preliminary joint proxy statement and prospectus. Investors and security holders are urged to read these documents thoroughly once they become available, as they contain important information about the merger and the two companies.

The merger is poised to combine Quanterix’s and Akoya’s complementary capabilities in the field of laboratory analytical instruments, potentially leading to enhanced offerings for customers. With a healthy gross profit margin of 60% and revenue growth of 15% over the last twelve months, Quanterix demonstrates strong operational performance. Quanterix’s common stock, traded on The Nasdaq Global Market under the ticker symbol QTRX, may see changes in its valuation as the market reacts to the progress of the merger. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.

This news is based on a press release statement and the latest SEC filing by Quanterix Corporation.

In other recent news, Quanterix Corporation has reported its preliminary financial results for the fourth quarter and full year of 2024, showing a 12% increase in year-over-year growth, with revenues reaching approximately $137.2 million. The fourth quarter alone saw revenues of about $34.9 million, marking an 11% increase compared to the same period the previous year. Despite challenges in capital spending, Quanterix’s instrument revenue experienced a 6% decline, while consumables revenue remained stable. Meanwhile, the company’s Accelerator lab revenue grew by 22%, and other revenue categories saw a significant 57% increase.

Additionally, Quanterix announced its acquisition of Akoya Biosciences, which will become a wholly owned subsidiary, a strategic move to strengthen its market position. The merger is expected to provide new growth opportunities, although it is subject to regulatory and stockholder approvals. Analysts from Canaccord Genuity have reaffirmed their Buy rating on Quanterix, maintaining a $20.00 price target, following the company’s mixed preliminary results. They highlighted Quanterix’s robust year-over-year growth in certain revenue streams and its potential milestones in the diagnostics field.

Furthermore, Quanterix has approved its 2025 annual cash incentive plan, aligning executive compensation with corporate performance goals. This incentive plan is designed to motivate executives to achieve specific corporate, financial, operational, and functional milestones. These developments come amid broader market challenges, including potential impacts from the National Institutes of Health’s decision to reduce indirect cost rates for research institutions.

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