Press Release: Twist Bioscience Reports First Quarter Fiscal 2021 Financial Results
Twist Bioscience Reports First Quarter Fiscal 2021 Financial Results
Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today reported financial results and business highlights for the first quarter of fiscal 2021 ended December 31, 2020.
"We reported a strong quarter both for orders and revenue, building a solid foundation for fiscal 2021," said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. "We see early evidence that our investment in synbio products for our pharmaceutical and biotech customers is beginning to gain traction, and for our NGS tools business, our liquid biopsy customers continue to drive revenue growth. Both our biopharma and DNA data storage teams made progress in advancing technologies, and we strengthened our balance sheet with $324 million through a recent equity offering.
"Looking ahead, we expect continued growth and diversification of our revenue stream as we build out our Factory of the Future as a second site in Oregon, continued focus on offering a business-to-business solution for multi-site institutions and a full launch of our NGS methylation solution. In addition, we anticipate out-licensing our first internally-generated antibodies and continued progress for our DNA data storage business."
FISCAL 2021 FIRST QUARTER FINANCIAL RESULTS
"We delivered another very strong quarter in what continues to be an uncertain environment due to the global pandemic," commented Jim Thorburn, CFO of Twist. "We remain well positioned to leverage our DNA synthesis platform into growing market opportunities today as we plan for future success in the years ahead."
Fiscal First Quarter 2021 and Recent Highlights
Fiscal 2021 Financial Guidance
The following statements are based on Twist's current expectations for fiscal 2021. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Forward-Looking Statements" below. Twist does not plan to update, nor does it undertake any obligation to update, this outlook in the future.
For the full fiscal year 2021, Twist provided the following updated financial guidance:
Conference Call Information
The company plans to hold a conference call and live audio webcast for analysts and investors today at 4:30 p.m. Eastern Time to discuss its financial results and provide an update on the company's business. The call can be accessed by dialing (866) 688-0947 (domestic) or (409) 217-8781 (international) and refer to the conference ID 7958297. A telephonic replay of the conference call will be available beginning approximately four hours after the call through February 11, 2021 and may be accessed by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international). The replay conference ID is 7958297. The webcast replay will be available for two weeks.
Given the circumstances globally, it is recommended to dial-in at most 15 to 20 minutes prior to the call start to reduce waiting times. If a participant will be listen-only, they are encouraged to listen via the webcast on Twist's investor page.
About Twist Bioscience Corporation
Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by "writing" DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.
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Investor Relations Information
Twist uses the investor relations section on its website as a means of complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor Twist's investor relations website in addition to following Twist's press releases, SEC filings, and public conference calls and webcasts.
Legal Notice Regarding Forward-Looking Statements
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February 04, 2021 16:05 ET (21:05 GMT)