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PerkinElmer's (PKI) New Benchtop Platform to Boost Workflows

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PerkinElmer, Inc. (PKI - Free Report) recently launched a unique benchtop platform, Cellaca PLX Image Cytometry System. The system is expected to enable researchers to evaluate multiple Critical Quality Attributes (CQAs) of cell samples in a single automated workflow, including cell identity, quality and quantity.

The innovative Cellaca PLX system has been designed by PerkinElmer’s Nexcelom unit and combines superior image cytometer hardware, software, validated consumables and trackable data reporting all in one system without needing further adjustments. Optimized reagent kits with validated antibodies from PerkinElmer’s BioLegend business are also part of the proprietary solution to further streamline the customer experience.

The latest launch will likely enable PerkinElmer to significantly strengthen its Life Sciences business unit in the broader Discovery & Analytical Solutions segment.

Significance of the Launch

The latest offering is expected to provide researchers with expanded cell sample CQA analysis options beyond flow cytometry and staining methods. This compares to historical approaches, which have required a variety of different instruments and analytical methods. By combining these capabilities, researchers will now be able to detect multiple markers simultaneously (multiplexing) and perform immunophenotyping and viability assays in a few seconds with an easy-to-use and modern user interface.

Per the management, despite pharmaceutical companies investing heavily in cell and gene therapy, they struggle to evaluate the complex cell samples needed to meet huge scientific demands and regulatory rigor across their research and manufacturing processes. The management believes that although the Cellaca PLX Image Cytometer platform is therapeutic area agnostic, it is expected to be especially beneficial for researchers working in CAR-T cell therapy who want to streamline their phenotyping of immune cells for downstream processes.

Industry Prospects

Per a report by Research and Markets published on GlobeNewswire, the global cell and gene therapy market is expected to grow from $6.58 billion in 2021 to $21.33 billion in 2026 at a CAGR of 25.6%. Factors like increasing incidences of rare and chronic diseases, advancements in cell and gene therapy, and a rising number of clinical trials are likely to drive the market.

Given the market potential, the latest launch is expected to significantly strengthen PerkinElmer’s global business.

Recent Developments

This month, PerkinElmer’s Oxford Immunotec recently announced that the FDA had approved the use of the T-Cell Select reagent kit to automate its T-SPOT.TB test workflow for in-vitro diagnostic (IVD) use by certified laboratories.

Last month, PerkinElmer announced its second-quarter 2022 results, registering a solid non-COVID organic growth. During the reported quarter, the company entered into an agreement to divest its Applied, Food and Enterprise Services businesses to New Mountain Capital. The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close in the first quarter of 2023.

In July, PerkinElmer announced that a placental growth factor (PlGF) measurement using its DELFIA Xpress PlGF 1-2-3TM kit (CE-IVD) and a soluble fms-like tyrosine kinase 1 (sFlt-1)/PlGF ratio using its DELFIA Xpress sFlt-1 kit (CE-IVD), have been included in an updated diagnostic guidance issued by the UK’s National Institute for Health and Care Excellence to help diagnose suspected preterm pre-eclampsia.

Price Performance

Shares of the company have lost 30.6% in the past year compared with the industry’s 28.4% decline and the S&P 500's 17.1% fall.

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Zacks Rank & Key Picks

Currently, PerkinElmer carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .

AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.

You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare has lost 7.5% compared with the industry’s 39.5% fall in the past year.

ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.1% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.

ShockWave Medical has gained 21.8% against the industry’s 35.1% fall over the past year.

McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.

McKesson has gained 69.3% against the industry’s 17.9% fall over the past year.

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