Sign in

Private company

Akoya Biosciences, Inc.

In its 2025 annual report the company says: “We are an innovative life sciences technology company delivering spatial biology solutions focused on transforming discovery, clinical research and diagnostics. Through our PhenoCycler ® (formerly CODEX) and PhenoImager ® (formerly Phenoptics) platforms, reagents, software, and services, we offer end-to-end solutions to perform tissue analysis and spatial phenotyping across the full continuum from discovery through translational and clinical research and diagnostics.”3 It is headquartered in Marlborough, Massachusetts.1

Last updated Oct 21, 2026.

Overview

  • IndustryLaboratory Analytical Instruments1
  • HeadquartersMarlborough, Massachusetts1
  • Incorporated inDE2
  • Business address100 Campus Drive, 6Th Floor, Marlborough, Ma 017622
  • Filer category, Emerging growth company2

See how the biggest companies compare on our leaderboards

We are an innovative life sciences technology company delivering spatial biology solutions focused on transforming discovery, clinical research and diagnostics. Our mission is to bring context to the world of biology and human health through the power of spatial phenotyping. Spatial phenotyping refers to a rapidly evolving technology that enables academic and biopharma scientists to detect and map the distribution of cell types and biomarkers across whole tissue samples at single-cell resolution, enabling advancements in their understanding of disease progression and patient response to therapy. Through our PhenoCycler ® (formerly CODEX) and PhenoImager ® (formerly Phenoptics) platforms, reagents, software, and services, we offer end-to-end solutions to perform tissue analysis and spatial phenotyping across the full continuum from discovery through translational and clinical research and…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

58.6%Gross margin4
-57.2%Operating margin4
-67.8%Net margin4
-15.5%Revenue growth, 20244
-729.0%Return on equity4
10.03×Debt to equity4
-$46.6MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue27¢$33.8M
  • Research and development16¢$19.7M
  • Selling, general and admin56¢$69.3M
  • Income tax0¢$146.0K

Out of $81.7M in revenue.4 The company lost money this year.

Financial statements

Revenue5674$81.7M in 2024+92% since 2020
0$25.0M$50.0M$75.0M$100.0M2020: $42.4M$42.4M20202021: $54.9M$54.9M2021+29%2022: $74.9M$74.9M2022+36%2023: $96.6M$96.6M2023+29%2024: $81.7M$81.7M2024−15%
Gross profit5674$47.9M in 2024+85% since 2020
0$20.0M$40.0M$60.0M2020: $25.9M$25.9M20202021: $34.2M$34.2M2021+32%2022: $43.4M$43.4M2022+27%2023: $56.3M$56.3M2023+30%2024: $47.9M$47.9M2024−15%
Operating income5674-$46.7M in 2024+289% since 2020
-$80.0M-$60.0M-$40.0M-$20.0M02020: -$12.0M-$12.0M20202021: -$39.3M-$39.3M2021+227%2022: -$66.1M-$66.1M2022+68%2023: -$57.7M-$57.7M2023−13%2024: -$46.7M-$46.7M2024−19%
Net income5674-$55.4M in 2024+231% since 2020
-$80.0M-$60.0M-$40.0M-$20.0M02020: -$16.7M-$16.7M20202021: -$42.9M-$42.9M2021+157%2022: -$70.6M-$70.6M2022+65%2023: -$63.3M-$63.3M2023−10%2024: -$55.4M-$55.4M2024−13%
Fiscal year201920202021202220232024
Revenue$42.4M5$54.9M6$74.9M7$96.6M4$81.7M4
Cost of revenue$16.5M5$20.7M6$31.5M7$40.3M4$33.8M4
Gross profit$25.9M5$34.2M6$43.4M7$56.3M4$47.9M4
Research and development$9.6M5$15.7M6$23.2M7$25.0M4$19.7M4
Selling, general and admin$24.0M5$51.0M6$79.7M7$87.4M4$69.3M4
Operating expenses$73.5M6$109.5M7$114.0M4$94.6M4
Operating income-$12.0M5-$39.3M6-$66.1M7-$57.7M4-$46.7M4
Income before tax-$43.1M6-$70.5M7-$63.3M4-$55.2M4
Income tax$42.0K5-$140.0K6$123.0K7$40.0K4$146.0K4
Net income-$16.7M5-$42.9M6-$70.6M7-$63.3M4-$55.4M4
Earnings per share-$9.185-$1.656-$1.877-$1.434-$1.124
Earnings per share (diluted)-$9.185-$1.656-$1.877-$1.434-$1.124
Shares (weighted, basic)26.9M shares637.7M shares744.4M shares449.4M shares4
Shares (weighted, diluted)26.9M shares637.7M shares744.4M shares449.4M shares4

Compare Akoya Biosciences, Inc. with another company

Corporate structure

Akoya Biosciences, Inc. is part of a group headed by Quanterix (United States). 10 entities, 6 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Akoya Biosciences, Inc.

  • Quanterix (United States) Lexington
    • Akoya Biosciences, Inc. Marlborough, Massachusetts
    • Akoya Biosciences UK Ltd. Subsidiary · United Kingdom
    • Aushon Biosystems, Inc. Subsidiary · Delaware, United States
    • Emission Inc. Subsidiary · Delaware, United States
    • Quanterix Bio-tech (Shanghai) Co., Ltd Subsidiary · China
    • Quanterix Holdings (Hong Kong) Limited Subsidiary · Hong Kong
    • Quanterix Netherlands B.V. Subsidiary · Netherlands
    • Quanterix Security Corporation Subsidiary · Massachusetts, United States
    • UmanDiagnostics AB Subsidiary · Sweden

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Akoya Biosciences, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$18.6M4 Dec 31, 2024$20.4M4 Dec 31, 2023−9.0%
Accumulated depreciation$11.3M4 Dec 31, 2024$9.7M4 Dec 31, 2023+17.4%
Property and equipment, net$7.2M4 Dec 31, 2024$10.7M4 Dec 31, 2023−32.9%
Finance-lease assets$1.5M4 Dec 31, 2024$1.6M4 Dec 31, 2023−2.4%
Operating-lease assets (leased space)$4.3M4 Dec 31, 2024$8.4M4 Dec 31, 2023−49.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$11.8M4 Dec 31, 2024$83.1M4 Dec 31, 2023−85.8%
Marketable securities, current$23.3M4 Dec 31, 2024$7.0M7 Dec 31, 2022+232.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$18.3M4 Dec 31, 2024$18.3M4 Dec 31, 20230%
Intangible assets, net (excluding goodwill)$14.6M4 Dec 31, 2024$17.4M4 Dec 31, 2023−16.4%
Finite-lived intangibles, gross$30.0M4 Dec 31, 2024$30.0M4 Dec 31, 20230%
Accumulated amortization$15.4M4 Dec 31, 2024$12.6M4 Dec 31, 2023+22.7%
Finite-lived intangibles, net$14.6M4 Dec 31, 2024$17.4M4 Dec 31, 2023−16.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$24.3M4 Dec 31, 2024$17.9M4 Dec 31, 2023+36.0%
Finished goods$20.8M4 Dec 31, 2024$15.8M4 Dec 31, 2023+31.8%

Properties, in its own words

Our corporate headquarters are located in Marlborough, Massachusetts, where we house administrative and R&D activities, as well as our CLIA laboratory. We have another facility in Marlborough, Massachusetts, which houses additional administrative and R&D facilities as well as our manufacturing and distribution center. In the first quarter of 2024, we ceased use of our leased facility in Menlo Park, California, and currently sublease a portion of this facility. As of December 31, 2024, our facilities in the aggregate consist of approximately 78,347 square feet of space under leases expiring between September 1, 2026 and March 1, 2030. We do not own any real property and believe that our current facilities are sufficient to meet our ongoing needs and that, if we require additional space, we will be able to obtain additional facilities on commercially reasonable terms.

Item 2 of the 10-K filed Mar 17, 2025.3

Leadership

Who has led Akoya Biosciences, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Brian McKelligon2021–now

President

  1. Brian McKelligon2021–now

Chief financial officer

  1. Joseph Driscoll2021–2022
  2. John Frederick Ek2023–now

Chief operating officer

  1. Frederic Pla2021–now
2025
Board members and other officers (13)

Timeline

  1. Jul 8, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer26
  2. Jul 7, 20258-K Shareholder vote27
  3. Jun 2, 20258-K Other events28
  4. May 21, 20258-K Other events29
  5. May 12, 20258-K Results of operations30
  6. Apr 29, 20258-K Entered a material agreement; Ended a material agreement; Regulation FD disclosure31
  7. Apr 4, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares32
  8. Mar 17, 20258-K Results of operations33
  9. Feb 25, 20258-K Other events34
  10. Jan 10, 20258-K Entered a material agreement; Other events35
  11. Dec 13, 20248-K Entered a material agreement36
  12. Nov 14, 20248-K Results of operations37
  13. Apr 20, 2021New chief executive Brian McKelligon becomes CEO10

Calendar

When it reported results

  1. May 12, 2025Reported quarterly or annual results30
  2. Mar 17, 2025Reported quarterly or annual results33
  3. Nov 14, 2024Reported quarterly or annual results37
  4. Aug 5, 2024Reported quarterly or annual results38
  5. May 13, 2024Reported quarterly or annual results39
  6. Mar 4, 2024Reported quarterly or annual results40
  7. Jan 8, 2024Reported quarterly or annual results41
  8. Nov 8, 2023Reported quarterly or annual results42

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

247 filings to the SEC since October 2021: 5 annual reports, 11 quarterly reports, 42 major events, 118 insider forms, 16 large holders, 55 other. The latest 20:

  1. Jul 18, 202515-12G EDGAR
  2. Jul 11, 2025EFFECT EDGAR
  3. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  4. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  5. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  6. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  7. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  8. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  9. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  10. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  11. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  12. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  13. Jul 10, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  14. Jul 8, 2025S-8 POS EDGAR
  15. Jul 8, 2025S-8 POS EDGAR
  16. Jul 8, 2025S-8 POS EDGAR
  17. Jul 8, 2025S-8 POS EDGAR
  18. Jul 8, 2025S-8 POS EDGAR
  19. Jul 8, 2025POS AM EDGAR
  20. Jul 8, 20258-K EDGAR

The 247 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

38 open-market trades by officers, directors and large owners since October 2021: 11 buys and 27 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 11, 2024McKelligon BrianPresident and CEOSale7,500$2.08$15.6KForm 4
Jun 6, 2024McKelligon BrianPresident and CEOSale7,500$2.01$15.1KForm 4
Mar 20, 2024McKelligon BrianPresident and CEOSale7,500$4.97$37.3KForm 4
Mar 13, 2024McKelligon BrianPresident and CEOSale7,500$4.94$37.0KForm 4
Mar 13, 2024McKelligon BrianPresident and CEOSale7,500$4.94$37.0KForm 4
Dec 19, 2023McKelligon BrianPresident and CEOSale7,500$4.48$33.6KForm 4
Dec 12, 2023McKelligon BrianPresident and CEOSale7,500$4.25$31.9KForm 4
Nov 20, 2023McKelligon BrianPresident and CEOSale7,500$4.39$32.9KForm 4
Sep 7, 2023Pla FredericChief Operating OfficerBuy20,000$4.60$92.0KForm 4
Jun 12, 2023Ek John FrederickCFOBuy20,000$5.00$100.0KForm 4
Jun 12, 2023LAI GOLDMAN MYLADirectorBuy20,000$5.00$100.0KForm 4
Jun 12, 2023Mendel ScottDirectorBuy20,000$5.00$100.0KForm 4
Jun 12, 2023Winkler MatthewDirectorBuy203,388$5.00$1.0MForm 4
Jun 12, 2023SHEPLER ROBERT GDirectorBuy120,000$5.00$600.0KForm 4
Jun 12, 2023Raffin Thomas A.DirectorBuy2,020,000$5.00$10.1MForm 4
Jun 6, 2023McKelligon BrianPresident and CEOSale5,000$5.71$28.6KForm 4
Mar 14, 2023McKelligon BrianPresident and CEOSale5,000$9.18$45.9KForm 4
Dec 14, 2022DRISCOLL JOSEPHChief Financial OfficerSale24,613$12.55$308.8KForm 4
Dec 13, 2022Nolan Garry Ph.D.DirectorSale100$13.25$1.3KForm 4
Dec 13, 2022SCHNETTLER THOMAS PDirectorSale71,050$13.03$925.8KForm 4

All 38 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Akoya Biosciences, Inc. has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

SEC filer profile

How Akoya Biosciences, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAkoya Biosciences, Inc.1
  • CIK0001711933
  • Employer ID (EIN)47-55862423
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3826 Laboratory Analytical Instruments1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address100 Campus Drive, 6Th Floor, Marlborough, MA 017621
  • Phone855.896.84011
  • Shares outstanding49,875,399 as of Apr 30, 20259
  • Public float$61.7M as of Jun 30, 20243
  • AuditorRSM US LLP, Boston, Massachusetts PCAOB ID 493
  • On EDGAR sinceJul 14, 20171
  • Filings310 in all: 4 (117), 8-K (47), 425 (21), 144 (17), 3 (16), 10-Q (13), SC 13G/A (7), CORRESP (5)1
    All 41 form types

    S-8 (5), S-8 POS (5), 10-K (4), 4/A (4), SC 13G (4), DEF 14A (3), DEFA14A (3), EFFECT (3), SC 13D/A (3), UPLOAD (3), 424B5 (2), ARS (2), D (2), DEFM14A (2), SCHEDULE 13D (2), SCHEDULE 13D/A (2), SEC STAFF LETTER (2), 10-K/A (1), 15-12G (1), 25-NSE (1), 3/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), POS AM (1), S-1 (1), S-1/A (1), S-3 (1), S-3/A (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 17, 2025
    Quarterly report (10-Q) May 13, 2025
    Proxy statement (DEF 14A) Apr 23, 2024
    Latest 8-K (8-K) Jul 8, 2025

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.00001 per shareAKYAThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 17, 2025 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Akoya Biosciences, Inc. names in Item 1A of its 10-K filed Mar 17, 2025: 75 risks under these headings, as written.3

  • Risks Related to Our Business and Strategy
  • The Exchange Ratio is fixed and will not be adjusted in the event of any change in either Quanterix’s or Akoya’s stock price. Therefore, our stockholders cannot be sure of the value of the Merger Consideration they will receive.
  • The Merger may not be completed and the Merger Agreement may be terminated in accordance with its terms.
  • Until the completion of the Merger or the termination of the Merger Agreement pursuant to its terms, we are prohibited from entering into certain transactions and taking certain actions that might otherwise be beneficial to Akoya and/or our stockholders.
  • The Merger, and uncertainty regarding the Merger, may cause our customers, service providers, partners, vendors, suppliers and other business relationships to delay or defer decisions concerning our business and adversely affect our ability to effectively manage our business, which could adversely affect our business, operating results and financial position and, following the completion of the Merger, the Combined Company’s business, operating results and financial position.
  • Whether or not the Merger is completed, the announcement and pendency of the Merger could cause disruptions in our business, which could have an adverse effect on our business and financial results.
  • We may have difficulty attracting, motivating and retaining executives and other key employees in light of the potential Merger.
  • If the Merger is not consummated, we may need to raise additional capital to service our debt obligations, fund our existing operations, improve our platform, expand our service offerings or develop and commercialize new products and technologies, or expand our operations.
  • Future litigation against us, Quanterix, or the members of their respective boards could prevent or delay the completion of the Merger or result in the payment of damages following completion of the Merger or otherwise negatively affect our business and operations.
  • We have incurred significant losses since inception, we expect to incur losses in the future and we may not be able to generate sufficient revenue to achieve and maintain profitability.
  • Our Midcap Trust Term Loan contains financial covenants which we may be unable to meet and we may be required to repay the outstanding indebtedness in an event of default, which could have a material adverse effect on our business, financial condition, results of operations and prospects.
  • We have limited capital resources and will likely need additional funding before we are able to achieve profitability which raises substantial doubt regarding our ability to continue as a going concern. If we do not continue as a going concern, investors could lose their entire investment.
The other 64 risks
  • Our success depends on our ability to drive adoption of our PhenoCycler and PhenoImager platforms.
  • Our revenue has been primarily generated from sales of our PhenoCycler and PhenoImager platforms and reagents. If our products do not continue to gain market acceptance, our revenue could be materially and adversely impacted.
  • If we fail to enter into new customer relationships or maintain and expand existing relationships, our future operating results would be adversely affected as a general matter.
  • Our operating results have fluctuated significantly in the past and may fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations.
  • Acquisitions could disrupt our business, cause dilution to our stockholders and otherwise harm our business.
  • If our existing and new products fail to achieve and sustain sufficient scientific acceptance, we will not generate expected revenue and our prospects may be harmed.
  • We generally recognize revenue from first-year warranty, extended warranty and service contracts over the contract term, and changes in sales of such contracts may not be immediately reflected in our operating results.
  • If we were to be sued for product liability, we could face substantial liabilities that exceed our resources.
  • Our business, financial condition, results of operations and prospects may be harmed if our customers discontinue or spend less on research, development and production and other scientific endeavors.
  • If we are unable to support demand for the PhenoCycler and PhenoImager platforms and consumables, and for our future product offerings, including ensuring that we have adequate capacity to meet increased demand, or if we are unable to successfully manage our anticipated growth, our business could suffer.
  • The sizes of the markets for our solutions may be smaller than estimated and new market opportunities may not develop as quickly as we expect, or at all, limiting our ability to successfully sell our solutions.
  • If we fail to offer high quality customer service, our business and reputation could suffer.
  • Our management uses certain key business metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections and make strategic decisions and such metrics may not accurately reflect all of the aspects of our business needed to make such evaluations and decisions, in particular as our business continues to grow.
  • Our actual operating results may differ significantly from any operating guidance we may provide.
  • Our market is highly competitive, and if we cannot compete successfully with our competitors, we may be unable to increase or sustain our revenue, or achieve and sustain profitability.
  • We must develop new products and service offerings, adapt to rapid and significant technological change and respond to introductions of new products and services by competitors to remain competitive.
  • We may be unable to manage our future growth effectively, which could make it difficult to execute our business strategy.
  • If we are unable to expand our marketing and sales organization to adequately address our customers’ needs, our business may be adversely affected.
  • The loss of any member of our senior management team or our inability to attract and retain highly skilled scientists, engineers and salespeople could adversely affect our business.
  • Due to the significant resources required to enable access in new markets, we must make strategic and operational decisions to prioritize certain markets, technology offerings or partnerships. We may expend our resources to access markets, develop technologies or form certain partnerships that do not yield meaningful revenue, or we may fail to capitalize on markets, technologies or partnerships that may be more profitable or with a greater potential for success.
  • If our operating facilities, including those of our third-party manufacturers, become damaged or inoperable, our ability to conduct and pursue our business activities may be jeopardized.
  • Our insurance policies are expensive and protect us only from some business risks, which leaves us exposed to significant uninsured liabilities.
  • Security incidents, loss of data or modification of information, and other disruptions could compromise information related to our business or prevent us from accessing critical information, result in a significant disruption of our activities and expose us to liability, which could adversely affect our business and our reputation.
  • Seasonality may cause fluctuations in our revenue and results of operations.
  • Public health crises have caused and could cause disruptions to the development of our platform technologies and products and business interruptions, and adversely impact our business, financial condition and results of operations.
  • Risks Related to Manufacturing and Supply
  • We outsource to a limited number of third-party manufacturers who are dependent upon third-party suppliers, including single source suppliers, making us vulnerable to supply shortages and price fluctuations, which could harm our business.
  • We outsource the manufacturing of our instruments and reagents to third-party manufacturers. The failure of these manufacturers to manufacture finished goods on a timely basis could adversely affect our business.
  • We forecast sales to determine requirements for components and materials used in our systems, and if our forecasts are incorrect, we may experience delays in shipments or increased inventory costs.
  • Risks Related to Government Regulation
  • We market certain of our products as Research Use Only, or RUO, in the United States. Our RUO products support the research and development activities conducted by academic/research institutions and biopharmaceutical companies of potential diagnostic and therapeutic products and services for which they may later pursue investigation and clearance, authorization or approval from regulatory authorities, such as the FDA.
  • We are currently subject to, and may in the future become subject to additional, U.S. state and federal, and non-U.S. laws and regulations, industry guidelines, and contracts, imposing obligations on how we collect, store, use and process personal information. Our actual or perceived failure to comply with such obligations could harm our business. Ensuring compliance with such laws could also impair our efforts to maintain and expand our customer base, and thereby decrease our revenue.
  • As we continue to expand our product, technology and service offerings and the applications and uses of our products into new fields, we may become subject to additional government regulations, and the regulatory approval and maintenance process for such products may be expensive, time-consuming and uncertain both in timing and in outcome.
  • International expansion of our business exposes us to business, regulatory, political, operational, financial and economic risks associated with doing business outside of the United States.
  • We could be adversely affected by violations of the FCPA and the anti-bribery and anti-corruption laws of the United States or other countries.
  • Unfavorable U.S. or global economic conditions could adversely affect our business, financial condition or results of operations.
  • Our employees, consultants, distributors and commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements, and insider trading.
  • We use biological and hazardous materials that require considerable expertise and expense for handling, storage and disposal and may result in claims against us.
  • Unfavorable global economic conditions, political instability and geopolitical events could adversely affect our business, financial condition, stock price, and results of operations.
  • Risks Related to Intellectual Property
  • If we are unable to obtain and maintain sufficient patent or other intellectual property protection for our technology, including the PhenoCycler and PhenoImager platforms, or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors could develop and commercialize products and technology similar or identical to ours, and our ability to successfully commercialize our products and our technology may be impaired.
  • We heavily depend on intellectual property licensed from third parties, including our license agreements with Stanford for our PhenoCycler product, and Revvity (formerly Perkin Elmer, Inc.) for our PhenoImager product, and our licensors may not always act in our best interest. If such owners do not properly or successfully obtain, maintain or enforce the patents underlying such licenses, or if they retain or license to others any competing rights, our competitive position and business prospects may be adversely affected.
  • Our products are dependent on intellectual property we license from third parties. If we fail to comply with our obligations under our intellectual property licenses, if the licenses are terminated, or if disputes regarding these licenses arise, we could lose significant rights that are important to our business and could interfere with our ability to operate our business.
  • Changes in patent law and its interpretation in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products and technologies.
  • Issued patents covering our products and technologies could be found invalid or unenforceable if challenged or unenforceable if challenged in court or before administrative bodies in the United States or abroad, which could harm our business, financial condition and results of operations.
  • Our rights to develop and commercialize our products and technologies are subject, in part, to the terms and conditions of licenses granted to us by others.
  • If we cannot acquire or license rights to use technologies on reasonable terms or at all, we may not be able to commercialize our current or any future products or technologies.
  • We have limited foreign intellectual property rights and we may not be able to protect our intellectual property rights throughout the world, which could harm our business, financial condition and results of operations.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business could be harmed.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed trade secrets or other confidential information of their former employers or other third parties or claims asserting ownership of what we regard as our own intellectual property.
  • We may not be able to protect and enforce our trademarks and trade names, or build name recognition in our markets of interest thereby harming our competitive position.
  • We may be subject to claims challenging the ownership or inventorship of our patents and other intellectual property and, if unsuccessful in any of these proceedings, we may be required to obtain licenses from third parties, which may not be available on commercially reasonable terms, or at all, or to cease the development, manufacture and commercialization of one or more of our products.
  • We may become involved in litigation related to intellectual property, which could be time-intensive and costly and may adversely affect our business, financial condition, results of operations and prospects, and may require us to pay damages, or prevent us from making our existing or future products.
  • Intellectual property litigation could cause us to spend substantial resources, distract our personnel from their normal responsibilities and result in negative publicity and other harms.
  • We may become involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time-consuming and unsuccessful.
  • Obtaining and maintaining our patent protection depends on compliance with various required procedures, document submissions, fee payments and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Patent terms may be inadequate to protect our competitive position on our products for an adequate amount of time.
  • Our use of “open source” software could adversely affect our ability to offer our products and technologies and subject us to possible litigation.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks Related to Ownership of Our Common Stock
  • The market price of our common stock has been and is likely to continue to be volatile, and you may be unable to sell your shares at or above the price at which you purchased them.
  • Securities analysts may not publish favorable research or reports about our business or may publish no information at all, which could cause our stock price or trading volume to decline.
  • We are an “emerging growth company” and a “smaller reporting company” and the reduced disclosure requirements applicable to “emerging growth companies” and “smaller reporting companies” may make our common stock less attractive to investors.
  • If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our operating results could fall below our publicly announced guidance or the expectations of securities analysts and investors, resulting in a decline in the market price of our common stock.
  • Future sales and issuances of our common stock or rights to purchase our common stock, including pursuant to our equity incentive plans, or other equity securities or securities convertible into our common stock, could result in additional dilution of the percentage ownership of our stockholders and could cause the stock price of our common stock to decline.
  • We do not intend to pay dividends for the foreseeable future. Consequently, any gains from an investment in our common stock will likely depend on whether the price of our common stock increases.
  • Our directors, officers and principal stockholders have significant voting power and may take actions that may not be in the best interests of our other stockholders.
  • We will incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.

Legal proceedings

From time to time, we may be subject to legal proceedings. We are not currently a party to or aware of any proceedings that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or results of operations. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
    SEC EDGAROther events
  29. 29
    SEC EDGAROther events
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
    SEC EDGAROther events
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49