Bio-Techne beats third-quarter estimates on improving demand for biotech products

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Bio-Techne beats third-quarter estimates on improving demand for biotech products
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Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotia - Bio-Techne on Wednesday beat third-quarter profit and revenue estimates, helped by better-than-expected demand for its cell and gene therapy products and testing and diagnostic devices.

The company said in a conference call in February that the soft funding environment continued to impact China, which contributed to 10% of the company's total revenues in the fiscal year 2023, according to latest regulatory filings. The Minnesota-based company reported third-quarter revenue of $303.4 million, compared with analysts' estimates of $292.2 million.

The unit develops and manufactures biological compounds used for research and diagnostics and to develop cell and gene therapies.

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