Bio-Techne misses revenue targets as academic funding drops
Bio-Techne missed revenue estimates as academic funding cuts slowed demand. The company noted that tariff concerns also weighed on client purchasing activity.
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Bio-Techne, the Minneapolis, Minnesota-based developer of products used in medical research, drug development and diagnostics, reported third-quarter revenue of $311.4 million, missing analyst estimates of $317.1 million. The result followed a 1% decline in the protein sciences unit and a 4% drop in diagnostics and genomics sales. Investors are monitoring how academic funding cuts and tariff concerns impact long-term demand.
