24/7 Market News Snapshot 23 June, 2025 – Standard BioTools Inc. Common Stock (NASDAQ:LAB)
DENVER, Colo., 23 June, 2025 (www.247marketnews.com) – (NASDAQ:LAB) are discussed in this article.
Standard BioTools Inc. (LAB) has experienced a significant surge in its stock price, opening at $1.05 and climbing to $1.245, representing an increase of 18.57% amidst heightened trading activity totaling 2.53 million shares. This trading volume notably exceeds average levels, indicating robust market interest. The stock’s movement beyond the previous session’s close illustrates bullish momentum, and traders are eyeing potential resistance levels around $1.25 and $1.30. If LAB maintains its position above the $1.20 threshold, it may solidify an upward trend, making it essential to consider broader market conditions for further guidance.
In a strategic development, Standard BioTools has announced the planned sale of SomaLogic to Illumina, Inc., a transaction expected to yield total proceeds of up to $425 million. The deal entails an upfront cash payment of $350 million upon closing, with an additional potential of $75 million in milestone payments. This sale is set to enhance Standard BioTools’ financial standing and simplify its operational focus, positioning the company to achieve adjusted EBITDA break-even.
Dr. Michael Egholm, President and CEO of Standard BioTools, emphasized the successful transformation of SomaLogic over the past 18 months, establishing its SomaScan platform as a leader in high-plex proteomics. He highlighted Illumina as an ideal partner to advance SomaScan’s future growth. The transaction not only provides immediate cash benefits but also establishes ongoing revenue through sales royalties from next-generation sequencing library preparation kits, while Standard BioTools retains certain rights to Single SOMAmer reagents, affirming its commitment to innovative scientific advancement.
The closing of this agreement is anticipated in the first half of 2026, pending necessary regulatory approvals. The transaction has received unanimous approval from the Board of Directors, reflecting confidence in the company’s strategy for profitable growth and operational efficiency. As Standard BioTools embarks on this new phase, it remains focused on driving innovation within the life sciences sector and enhancing value for its stakeholders.