Ginkgo Bioworks to Take “Decisive Action” Following Disappointing Q1 Financial Results
US-based synthetic biology company Ginkgo Bioworks has published its financial results for Q1 2024. Due to lower-than-expected revenues, Ginkgo has announced several initiatives to accelerate its path to operational breakeven by the end of 2026. The company’s total Q1 revenue was $38 million, down from $81 million in the comparable prior year period. This was predominantly driven by the ramp-down of Covid-19 testing in schools. Cell engineering revenue decreased by …