Twist Bioscience Raises FY24 Total Revenue From $288M-$293M To $300M-$304M, Est $293.085M
Portfolio Pulse from Benzinga Newsdesk
Twist Bioscience has updated its FY24 total revenue forecast from the range of $288M-$293M to $300M-$304M, surpassing the estimated $293.085M. Additionally, the company expects to have over $245 million in cash, cash equivalents, and short-term investments by September 30, 2024.
May 02, 2024 | 9:15 pm
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Twist Bioscience has raised its FY24 revenue guidance to $300M-$304M, exceeding analyst expectations, with a strong cash position forecasted.
Raising the revenue forecast above analyst expectations generally indicates positive business momentum and operational efficiency, which can lead to increased investor confidence and potentially drive the stock price up in the short term. The announcement of a strong cash position further supports the company's financial stability, making this news highly relevant and important for investors.
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