Cytek Biosciences Announces $50 Million Stock Repurchase Program
06 Junio 2024 - 7:00AM
Cytek Biosciences, Inc. (Nasdaq: CTKB), a leading cell analysis
solutions company, today announced that its Board of Directors has
approved the repurchase of up to an aggregate of $50 million of its
common stock, subject to compliance with applicable law. The
Company’s common stock is listed on The Nasdaq Global Select Market
under the symbol “CTKB”. The repurchase program will continue until
December 31, 2024 unless extended or shortened by the Board of
Directors.
Any repurchases would be made in the open market
and/or in privately negotiated transactions, and may be made from
time to time or in one or more larger repurchases. The program will
be conducted in compliance with the Securities and Exchange
Commission's Rule 10b-18 and applicable legal requirements. The
amount and timing of any repurchases made under the repurchase
program will depend on a variety of factors, including available
liquidity, cash flow and market conditions.
The program does not obligate the Company to
acquire any particular amount of common stock and the program may
be modified or suspended at any time at the Company's
discretion.
About Cytek Biosciences,
Inc.
Cytek Biosciences (Nasdaq: CTKB) is a leading
cell analysis solutions company advancing the next generation of
cell analysis tools by delivering high-resolution, high-content and
high-sensitivity cell analysis utilizing its patented Full Spectrum
Profiling™ (FSP™) technology. Cytek’s novel approach harnesses the
power of information within the entire spectrum of a fluorescent
signal to achieve a higher level of multiplexing with precision and
sensitivity. Cytek’s platform includes its core instruments, the
Cytek Aurora™ and Northern Lights™ systems; its cell sorter, the
Aurora CS; the flow cytometer and imaging products under the Amnis®
and Guava® brands; the Cytek Orion™ reagent cocktail preparation
system, and reagents, software and services to provide a
comprehensive and integrated suite of solutions for its customers.
Cytek is headquartered in Fremont, California with offices and
distribution channels across the globe. More information about the
company and its products is available at www.cytekbio.com.
Cytek’s products are for research use only and
not for use in diagnostic procedures (other than Cytek’s Northern
Lights-CLC system and certain reagents, which are available for
clinical use in China and the European Union).
Cytek, Full Spectrum Profiling, FSP, Cytek
Aurora, Northern Lights, Cytek Orion, Amnis and Guava are
trademarks of Cytek Biosciences, Inc.
In addition to filings with the Securities and
Exchange Commission (SEC), press releases, public conference calls
and webcasts, Cytek uses its website (www.cytekbio.com), LinkedIn
page and X (formerly Twitter) account as channels of distribution
of information about its company, products, planned financial and
other announcements, attendance at upcoming investor and industry
conferences and other matters. Such information may be deemed
material information and Cytek may use these channels to comply
with its disclosure obligations under Regulation FD. Therefore,
investors should monitor Cytek’s website, LinkedIn page, and X
account in addition to following its SEC filings, news releases,
public conference calls and webcasts.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 as contained in Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, which are subject to the “safe harbor”
created by those sections. All statements other than statements of
historical facts, including statements regarding our future
activity, if any, under the share repurchase program, including the
timing of any such repurchases, are forward-looking statements. In
some cases, you can identify forward-looking statements because
they contain words such as “anticipate,” “believe,” “contemplate,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,” or
“would” or the negative of these words or other similar terms or
expressions. These statements are based on management’s current
expectations, forecasts, beliefs, assumptions and information
currently available to management. These statements also deal with
future events and involve known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements to be materially different from the information
expressed or implied by these forward-looking statements. You
should refer to the section entitled “Risk Factors” set forth in
Cytek’s Quarterly Report on Form 10-Q filed on May 8, 2024 with the
SEC, and other filings Cytek makes with the SEC from time to time
for a discussion of important factors that may cause actual results
to differ materially from those expressed or implied by Cytek’s
forward-looking statements. Although Cytek believes that the
expectations reflected in the forward-looking statements are
reasonable, it cannot provide any assurance that these expectations
will prove to be correct nor can it guarantee that the events and
circumstances reflected in the forward-looking statements will
occur. The forward-looking statements in this press release are
based on information available to Cytek as of the date hereof, and
Cytek disclaims any obligation to update any forward-looking
statements provided to reflect any change in its expectations or
any change in events, conditions, or circumstances on which any
such statement is based, except as required by law. These
forward-looking statements should not be relied upon as
representing Cytek’s as of any date subsequent to the date of this
press release.
Media Contact:Stephanie
OlsenLages & Associates(949) 453-8080stephanie@lages.com
Investor Contact:Paul
GoodsonHead of Investor RelationsCytek
Biosciencespgoodson@cytekbio.com
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