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MaxCyte Reports Third Quarter 2023 Financial Results and Reiterates Full Year 2023 Revenue Guidance

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Mercoledì, Novembre 8, 2023
LSE, Investment, Rare, Partnership, AutoLISP, Autoimmune disease, Therapy, SPL, Video game

Total revenue of $8.0 million in the third quarter of 2023, a decrease of 25% compared to the third quarter of 2022.

Key Points: 
  • Total revenue of $8.0 million in the third quarter of 2023, a decrease of 25% compared to the third quarter of 2022.
  • Core business revenue of $6.6 million in the third quarter of 2023, a decrease of 33% compared to the third quarter of 2022.
  • SPL Program-related revenue of $1.4 million in the third quarter of 2023, compared to $0.8 million in the third quarter of 2022.
  • Full year 2023 revenue guidance of approximately $34-$36 million total revenue and approximately $28-$30 million of core revenue, and SPL Program-related revenue of approximately $6 million, all consistent with guidance previously provided on October 4th.

MaxCyte Appoints Ali Soleymannezhad as Executive Vice President of Bioprocessing

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Mercoledì, Settembre 6, 2023
Vaccine, Faculty, AutoLISP, LSE, Business development, Bachelor, University, Engineering, Marketing, Rice University, EVP, Business, STX, Tosoh, Purification, Transfection, Business administration, Chemical substance, Separation, Master of Business Administration, Chemical engineering, Management

Mr. Soleymannezhad will lead global product development and marketing strategy for MaxCyte’s bioprocessing business.

Key Points: 
  • Mr. Soleymannezhad will lead global product development and marketing strategy for MaxCyte’s bioprocessing business.
  • “With his commercial background, strategic insight and demonstrated commitment to strong financial performance, Ali will be a great addition to our executive leadership team,” said Doug Doerfler, President and CEO of MaxCyte.
  • Most recently, he served as Executive Vice President for the Separations and Purification business at Tosoh Bioscience overseeing a team of 140 employees across four global manufacturing, development, and commercial sites.
  • During his tenure at Tosoh, Mr. Soleymannezhad was also Vice President of Global Marketing and Business Development and Director of Sales and Marketing Americas and served on the board of Semba Biosciences.

MaxCyte Reports Third Quarter 2022 Financial Results

Retrieved on: 
Mercoledì, Novembre 9, 2022
Therapy, Investment, AutoLISP, Cell, Net, U.S. Securities and Exchange Commission, Mission statement, Adoption, SEC, COVID-19, Annual report, Review, Security (finance), EBITDA, Depreciation, ATX, Private Securities Litigation Reform Act, GAAP, Marketing, Investor, Expert, SPL, Growth, Risk, Engineering, Video game, Fine chemical, Bank

ROCKVILLE, Md., Nov. 9, 2022 /PRNewswire/ -- MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics and to support innovative, cell-based research, today announced financial results for the third quarter ended September 30, 2022.

Key Points: 
  • Total revenue for the third quarter of 2022 was $10.6 million, compared to $10.1 million in the third quarter of 2021, representing an increase of 5%.
  • Operating expenses for the third quarter of 2022 were $17.0 million, compared to operating expenses of $11.6 million in the third quarter of 2021.
  • Third quarter 2022 net loss was $6.4 million compared to net loss of $2.7 million for the same period in 2021.
  • EBITDA, a non-GAAP measure, was a loss of $7.1 million for the third quarter of 2022, compared to a loss of $2.4 million for the third quarter of the prior year.

MaxCyte Debuts New State-of-the-Art Headquarters in Maryland’s I-270 Biotech Corridor

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Mercoledì, Settembre 21, 2022
National, Therapy, Expert, Federal, Engineering, Twitter, Gene editing, AutoLISP, LinkedIn, Company, Growth, Partnership, Environment, LSE, Patient, Federation, CEO, Technology, Private sector, Cell, Nasdaq, Science, Talent, Economic development, Research, US Foods, GLOBE, Food and Drug Administration, Fine chemical, Pharmaceutical industry

ROCKVILLE, Md., Sept. 21, 2022 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research, as well as next-generation cell therapeutic discovery, development and commercialization, today announced that it has relocated its headquarters to 9713 Key West Avenue in Rockville, Maryland, 20850, within Maryland’s I-270 Biotech Corridor. The Company’s new 67,000 square-foot facility significantly increases its in-house manufacturing capacity, as well as research and process development lab space. This investment represents a major milestone in MaxCyte’s growth and its ability to support customers and partners in their journey through therapeutic development to commercialization.

Key Points: 
  • The Companys new 67,000 square-foot facility significantly increases its in-house manufacturing capacity, as well as research and process development lab space.
  • This investment represents a major milestone in MaxCytes growth and its ability to support customers and partners in their journey through therapeutic development to commercialization.
  • The State of Maryland and Montgomery County have worked relentlessly over several decades to cultivate a robust life sciences and biotech community, with MaxCyte playing a critical role in that development, said Doug Doerfler, President and CEO of MaxCyte.
  • According to CBREs I-270 Biotech Corridor: 2021 Year-End Report , Maryland is the fifth largest biotech hub in the US and is experiencing significant and rapid growth due to the influx of public and private sector funding.

MaxCyte Reports Second Quarter and Half-Year 2022 Financial Results

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Mercoledì, Agosto 10, 2022
AutoLISP, U.S. Securities and Exchange Commission, Drug discovery, Growth, Private Securities Litigation Reform Act, SEC, Investment, Security (finance), Annual report, Net, Marketing, EBITDA, Engineering, Cell, Review, COVID-19, Company, Expert, Mission statement, ATX, Depreciation, STX, Risk, GAAP, SPL, Science, Investor, Adoption, Video game, Pharmaceutical industry, Fine chemical, Bank

ROCKVILLE, Md., Aug. 10, 2022 /PRNewswire/ -- MaxCyte, Inc., (NASDAQ: MXCT) (LSE: MXCT), a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization, today announced financial results for the second quarter and six months ended June 30, 2022.

Key Points: 
  • Total revenue for the second quarter of 2022 was $9.6 million, compared to $7.1 million in the second quarter of 2021, representing growth of 35%.
  • We did not have any material SPL Program-related revenue in the second quarter of 2022, as compared to $0.5 million in the second quarter of 2021.
  • Operating expenses for the second quarter of 2022 were $17.2 million, compared to operating expenses of $10.7 million in the second quarter of 2021.
  • EBITDA, a non-GAAP measure, was a loss of $8.2 million for the second quarter of 2022, compared to a loss of $4.1 million for the second quarter of the prior year.

MaxCyte Reports First Quarter Financial Results

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Lunedì, Maggio 9, 2022
COVID-19, U.S. Securities and Exchange Commission, Investment, Mission statement, Private Securities Litigation Reform Act, Interest, GAAP, EBITDA, ATX, Engineering, Security (finance), Depreciation, Review, STX, Risk, Annual report, Cell, Expert, SPL, Adoption, Science, Conference, AutoLISP, SEC, CARMA, Growth, Net, Investor, Video game, Pharmaceutical industry, Bank

GAITHERSBURG, Md., May 9, 2022 /PRNewswire/ -- MaxCyte, Inc., (NASDAQ: MXCT) (LSE: MXCT), a leading commercial cell-engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization, today announced financial results for the first quarter ended March 31, 2022 and increased full year 2022 revenue guidance.

Key Points: 
  • Our SPL Program-related revenue was $2.0 million, compared to immaterial SPL Program-related revenue in the first quarter of 2021.
  • Operating expenses for the first quarter of 2022 were $14.7 million, compared to operating expenses of $12.2 million in the first quarter of 2021.
  • MaxCyte believes that EBITDA provides useful information to management and investors relating to its results of operations.
  • MaxCyte urges investors to review the reconciliation and not to rely on any single financial measure to evaluate the company's business.