However, Arowana, which has a market capitalisation of just A$19.8m ($20.6m), its shares having fallen nearly 35 per cent in the last 12 months, may have other troubles.
Today, on Twist’s quarterly earnings call, the company also reported that its revenue increased 49.3% year-over-year to $17.2 million. Twist forecast revenue exceeding $80 million for 2020. On Thursday morning, shares of Twist Bioscience (NASDAQ: TWST) were trading at just below $27. By Friday afternoon, they were just above $32 a share, a rise of more than 18%, bringing its market capitalization to $1.1 billion.