Ginkgo Bioworks results and investment closing

The company's financial results exceeded expectations. Ginkgo is working to cut costs, plans to enter the space market and may become a beneficiary of the looming food crisis.

In September 2021, Ginkgo Bioworks went public. The lock-up period for pre-IPO investors expired on April 5. Due to the current geopolitical tensions, the process of transferring shares to our brokerage account has extended.

Our investors’ shares are kept on the balance sheet of one of the largest and reliable international transfer agents. We are working on the transfer of securities to our brokerage account and will notify you of an investment status change shortly.

At the end of March, Ginkgo Bioworks unveiled its annual report. Its financials for Q4 2021 proved significantly better than expected. The company pointed out a significant increase in demand for its products and services. Revenue in the previous quarter increased by 363% YoY. For the full year 2021, the company's revenue grew 4x to reach $314 million.

A drop in Ginkgo's share price in recent months is linked to a correction in biotech and tech stocks. Analysts at Cowen, one of the leading biotech investment banks, named Ginkgo Bioworks the best investment idea with a target price of $12 per share. BTIG, a global financial services firm, reduced its target price for the stock from $12 to $6 while keeping a "buy" recommendation for it.

A major growth driver is the food crisis, which can worsen in the coming years. Ginkgo’s platform allows its customers to increase availability of food around the world and crop yields. In 2020-2021, the company achieved a lot of success in this area, especially in the cultured meat market.

The company plans to add 60 new cell programs to its platform in 2022. In March, Ginkgo acquired FGen AG, a Swiss company specializing in strain development and optimization. FGen's advanced technology will enable Ginkgo to significantly enhance its cell screening capabilities and to explore wider expanses of genetic opportunity space, by optimizing strain production and reducing expenses in the long run.

Ginkgo's fresh focus is the space market. For example, during long space travel, genetically programmed cells will be able to produce oxygen, absorb greenhouse emissions, mitigate radiation, neutralize waste and preserve food.

Stay tuned for more updates!