![]() ![]() The company does have over a half a billion dollars of cash on its balance sheet. ![]() Unfortunately, the company continues to bleed cash on a substantial basis and is likely to do so continually at least through FY2023. Twist Bioscience is delivering solid revenue growth. They project similar losses in FY2023 even as sales exceed $250 million. ![]() The current analyst firm consensus is that the company will lose approximately $4.50 a share in FY2022 even as revenues rise over 50% to just north of $200 million. The company posted a net loss of $60.7 million during the first quarter of this year. The company ended the second quarter with just over $525 million worth of cash and marketable securities on its balance sheet after posting a net loss for the quarter of $60.5 million. In the third quarter, they sold just over $1 million worth of equity in aggregate. There has been frequent but generally smallish selling by numerous insiders here in 2022. Baird ($56 price target) reiterated Buy ratings on the equity.Īpproximately 11% of the outstanding float in TWST is currently held short. Both Barclays ($45 price target) and Robert W. Goldman Sachs reissued its Sell rating and $35 price target, while last month SVB Securities maintained its Hold rating and $46 price target on TWST. Since second quarter numbers posted, the analyst community has been mixed on Twist's prospects. Finally, Twist disclosed in mid-September that it will work with Enzolytics ( OTCPK:ENZC) on the discovery of monoclonal antibodies against several viruses. Last week, the company announced it will partner with Illumina ( ILMN) to expand customer access to the Illumina Exome 2.0 Plus panel to promote disease research. In late October, the company promoted its chief commercial officer to be its new president and chief operating officer. Leadership expects a full year net loss of roughly $250 million for this fiscal year. Management bumped up its FY2022 sales guidance to approximately $203 million, an increase from its previous guidance of $191 million to $199 million. Management believes DNA Data Storage could eventually be a $2 billion annual market for the firm. In the second quarter, Twist participated in panels and presentations at key data storage and industry conferences including Fujifilm’s 12th Annual Global IT Executive Summit, the 2022 MRS Spring Meeting and Exhibit, and the Flash Memory Summit. The company is investing approximately $40 million of its projected $125 million R&D expenses in 2022 on this effort. In addition, DNA can be used to encode and store digital data and the company continues to build its data storage capabilities. Here is how they broke down in the second quarter. Revenue for Twist comes from three primary sources/industries. ![]() The company launched several new products during the quarter including its MRD Rapid 500 Panel that enables customers to implement fully customizable panels for $50 per sample. Revenues rose 60% on year-over-year basis to $60.1 million, approximately $4 million above expectations. Despite the deep loss, that was nearly a quarter a share above the consensus. The company lost $1.08 a share on a GAAP basis. On August 5th, the company disclosed second quarter results. These products have many uses in the industrial, agriculture, and medical fields. Among the products Twist offers are synthetic genes, tools for sample preparation, antibody libraries for drug discovery and development, and DNA as a digital data storage medium. The company manufactures and sells synthetic DNA-based products off its DNA synthesis platform that enables the manufacturing of synthetic DNA by writing DNA on a silicon chip. The stock currently trades near $34.00 a share and sports an approximate market capitalization of $1.8 billion. Twist Bioscience Corporation is headquartered in South San Francisco. Therefore, it seems a good time to peek back on this unique play in the biology space. The company has been somewhat in the news in recent months and the stock jumped nearly 20% in trading on Thursday, coinciding with the largest daily rally in the markets since 2020. We put our first research article on Twist Bioscience Corporation ( NASDAQ: TWST) in May of this year. It is amazing how complete is the delusion that beauty is goodness.”― Leo Tolstoy ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |