This update likely added to momentum in the stock over the last few weeks, although the actual financial impact is likely limited over the near term. Twist also launched two monkeypox synthetic DNA controls, which is intended for customers to use in the development of next-generation vaccines and field testing. Notably, Twist in collaboration with privately held "Biotia" received an expanded Emergency Use Authorization from the FDA of its SARS-CoV-2 Next-Generation Sequencing Assay that can identify new variations of Covid. Other products include Next-Generation Sequencing (NGS) tools that allow customers to work with diseases and viruses for research and in the development of new diagnostic tools. One example would be a biotech customer ordering synthetic genes for testing in an attempt to find an optimal sequence in drug development. A key operating metric is the number of genes shipped, referring to the manufactured synthetic DNA, each ordered through a customizable online process. The company shipped products to approximately 1,900 customers in Q3, versus 1,800 in the period last year, implying an expanding revenue per customer which provides some visibility to the forward outlook. The pace also accelerated during the quarter with sales up 17% over Q2. Revenue reached $56.1 million, up 60% year-over-year. While higher spending and investments in support of growth explain the larger loss, the real story here is the strong operational momentum. Twist reported its fiscal Q3 results on August 5th with a net loss of $60.5 million or -$1.08 per share, compared to a loss of $40 million loss in the period last year. This article recaps recent developments including the latest quarterly report while we reaffirm our long-term bullish view for the stock. Indeed, the stock is off more than 50% from its 2021 high despite what has been overall strong operating momentum. While shares held onto a solid gain for much of 2021, the story since Q4 has been significant volatility amid the extreme market selloff, particularly in this segment of the high-growth, yet unprofitable tech companies. We last covered TWST with an article back in 2020, highlighting what was then a " breakout year" for the company in terms of showcasing its market potential. The applications here for this type of " engineered biology " cover everything from the diagnosis and treatment of disease in healthcare, genetically modified agriculture, high-tech materials production, and even working as a form of large data set storage. Through software, the process is capable of driving thousands of chemical reactions to write strands of DNA significantly more effectively than alternative methods. ( NASDAQ: TWST) commercializes a DNA synthesis platform that automates synthetic DNA production on a silicon chip. The NGS products are used for diagnostic tests for various indications like SARS-CoV-2.Twist Bioscience Corp. Its synthetic biology products include Synthetic genes and gene fragments, Oligonucleotide, or Oligo pools for CRISPR gene editing. It consists of two product lines, synthetic biology tools and NGS tools, that address different needs of its customers across a range of applications, such as synthetic genes, oligo pools, SARS-CoV-2 tools, and DNA libraries. The Company utilizes its technology to manufacture a range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. The core of its platform is a technology that provides a new method of manufacturing synthetic DNA by writing DNA on a silicon chip. The Company has developed a Twist Bioscience DNA synthesis platform to industrialize the engineering of biology. Twist Bioscience Corporation is a synthetic biology and genomics company.
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