What happened
One of the best-performing biotech stocks on Monday was a relatively new arrival, Sweden-based Olink Holding (OLK 0.77%). The company saw its shares pop by nearly 24%, on the strength of a rather encouraging business update.
So what
Monday morning, Olink unveiled preliminary, unaudited revenue figures for both its fourth quarter and the entirety of 2021.
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For the former period, the company anticipates its top line will land between $43.2 million and $43.7 million. This would represent year-over-year growth of at least 59%. As for the full year, that range is $94.5 million to $95 million, which if achieved would be around 75% higher than the 2020 tally.
Olink's area of expertise is proteomics, or the study of proteomes (the set of proteins manufactured in an organism). It offers a range of products and services to assist healthcare providers in analyzing these substances.
The company will fill in the details of its 2021 performance when it releases official fourth-quarter and annual earnings for 2021 on Feb. 14. It has pledged to provide guidance for full-year 2022 in that set of results.
This year might be a tough one to top for Olink. In the press release unwrapping the preliminary 2021 numbers, the company quoted CEO Jon Heimer as saying that it "was a transformational year for Olink, including our successful IPO, strong execution of the next phase of our corporate plan, and the achievement of numerous milestones."
Now what
Olink, still a relatively unheralded company in the U.S., isn't actively followed by many analysts. According to Yahoo! Finance, the three prognosticators tracking the company collectively expect it to post a modest net profit ($0.03 per share) for the fourth quarter, but a $0.11 loss in the current quarter. Still, those anticipated growth rates make this company one worth watching for biotech investors.
