Ginkgo Bioworks nominates two new board members



BOSTON – Ginkgo Bioworks (NYSE: DNA), a company engaged in cell programming and biosecurity, announced the nominations of Myrtle Potter and Ross Fubini for election as independent directors to its Board of Directors. The election is scheduled to be held on June 13, 2024, at the company's annual meeting.

The news comes as board chair Marijn Dekkers and committee chair Reshma Kewalramani prepare to retire at the same meeting. CEO Jason Kelly expressed his gratitude for their contributions and was excited about the expertise the nominees will bring to the table.

Myrtle Potter has more than 25 years of experience in technology and life sciences, including senior executive positions at Genentech and Sumitomo Pharma America. She leverages artificial intelligence in biopharmaceutical development and serves on the boards of several public companies, including Amazon (NASDAQ: ) and Express Scripts.

Ross Fubini has a background in venture capital and is known for backing companies such as Anduril and Verkada. His expertise spans various industries and he has advised and invested in more than 200 companies.

Ginkgo Bioworks provides organizations across markets with a platform to leverage synthetic biology to address challenges. The company's biosecurity division aims to leverage advanced technologies to combat biological threats.

This press release contains forward-looking statements regarding the potential election of new directors and the future operations of the Company. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual conditions to differ materially.

Stockholders are encouraged to read the definitive proxy statement for the 2024 Annual Meeting filed with the SEC on April 29, 2024 for details regarding director nominations and other relevant documents. This information is based on a press release.

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Investment Professional Insights

As Ginkgo Bioworks prepares for its annual meeting and elects new board members, the company's financial health and market performance remain critical to investors. Ginkgo, which specializes in cell programming and biosecurity, is navigating a challenging market landscape, which is reflected in its financial metrics.according to investment expert Data show that in the past 12 months as of the fourth quarter of 2023, Ginkgo Bioworks had a market capitalization of $1.99 billion and a price-to-earnings ratio of -2.47.

Despite these obstacles, Ginkgo Bioworks still demonstrated strong gross profit margins of 78.52%, demonstrating the efficiency of its core business. However, the company's aggressive growth strategy and investments in technology resulted in an operating margin of -291.84%, indicating considerable expenses relative to revenue.

Investors should pay attention to the company's stock performance, which has declined significantly in recent months. The one-month total price return through early 2024 is -25.85%, and the six-month return is equally challenging at -36.29%.This trend is consistent with investment expert The tip highlights the stock's poor performance over the last month and its sharp price decline over the past three months. Additionally, Ginkgo Bioworks doesn't pay a dividend, which may be a consideration for income-focused investors.

For those interested in taking a closer look at Ginkgo Bioworks' financials and stock performance, additional investment expert There are hints. The platform provides insights such as a company's cash position relative to debt, shareholder yield and liquidity position.Interested readers can explore these tips and more by visiting the following websites investment expert Ginkgo Bioworks page: https://www.investing.com/pro/DNA.Also, use the coupon code PRONEWS24 Subscribe to Pro and Pro+ on an annual or two-year basis to get an additional 10% off, unlocking even more valuable insights.

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