On May 20, 2024, Standard BioTools Inc. announced that it had received a shareholder proposal from Madryn Asset Management, requesting the company to take all necessary steps to immediately declassify the Board, so that directors are elected on an annual basis. In addition, the company recommended that shareholders vote against the proposal at the 2024 annual meeting of shareholders. The company also stated that Madryn had notified them of its intention to nominate two nominees, Avinash Amin and Kurtis J. Wolf, to stand for election as directors at the annual meeting, opposing the Board's recommended nominees, Troy Cox and Fenel M. Eloi.

The Board does not endorse any Madryn nominees and recommends that shareholders vote for the election of its two recommended nominees.