Biolife Solutions Inc - BLFS STOCK NEWS

BioLife Solutions (NASDAQ: BLFS) has acquired PanTHERA CryoSolutions, strengthening its position in the cell and gene therapy (CGT) market. The acquisition focuses on PanTHERA's proprietary Ice Recrystallization Inhibitor (IRI) technology for cryopreservation solutions.

The transaction involves $9.3 million in cash and 241,355 BLFS shares for the remaining 90% ownership, with potential additional payments of up to $7.2 million in stock based on milestone achievements over three years. This marks BioLife's second acquisition from its Bioproduction Innovation Accelerator program.

PanTHERA's next-generation formulations, expected to launch within 18 months, aim to provide superior cryopreservation outcomes, reduce DMSO concentrations, and decrease liquid nitrogen requirements in cold chain logistics and storage.

BioLife Solutions (NASDAQ: BLFS), a leading supplier of bioproduction tools for the cell and gene therapy market, has appointed Cathy Coste to its board of directors, expanding the board to seven members. Coste will serve as chair of the audit committee, replacing Joydeep Goswami, who remains a director and committee member.

Coste brings over 40 years of senior executive experience, including 30+ years at Deloitte where she served as a senior partner and life sciences industry executive leader. She has worked with more than two dozen life sciences companies and currently serves as audit committee chair for Biomerica, Minerva Surgical, and Renalytix plc.

The appointment comes as BioLife completes its transition to a pure-play enabler of cell and gene therapies, positioning the company for revenue growth and sustained profitability.

BioLife Solutions (BLFS) reported strong Q4 and full-year 2024 results, with notable growth in its Cell Processing segment. Q4 total revenue reached $22.7 million, up 31% year-over-year, driven by Cell Processing revenue of $20.3 million, representing a 37% increase.

The company achieved a GAAP gross margin of 60% and adjusted EBITDA of $4.0 million (18% of revenue) in Q4. Full-year 2024 revenue totaled $82.3 million, an 8% increase from 2023. The company strengthened its financial position by divesting non-core businesses, including SciSafe and CBS, resulting in a cash position exceeding $100 million.

Looking ahead, BioLife projects 2025 revenue guidance of $95.5-99.0 million, representing 16-20% growth. The Cell Processing platform is expected to grow 18-21% to $86.5-89.0 million. The company's biopreservation media is now embedded in 17 approved cell and gene therapies, with 8 additional approvals anticipated in the next 12 months.

BioLife Solutions (NASDAQ: BLFS), a leading developer and supplier of bioproduction products and services for the cell and gene therapy market, has scheduled its fourth quarter and full year 2024 financial results release for March 3, 2025, before market open.

The company will host a conference call and webcast at 8:00am ET (5:00am PT) on the same day, where management will present financial results and provide a business update. Investors can access the webcast through BioLife's website or join via phone using the toll-free number 1-833-630-0431 (international: 1-412-317-1808). A replay will be available approximately two hours after the call and remain accessible for 90 days on the investor relations website.

BioLife Solutions (NASDAQ: BLFS) reported preliminary Q4 2024 unaudited revenue from continuing operations of $22.7 million, up 31% from Q4 2023. The company's Cell Processing platform revenue reached $20.3 million in Q4, marking a 37% year-over-year increase and 7% sequential growth.

For full-year 2024, revenue from continuing operations totaled $82.3 million, an 8% increase from 2023. Cell Processing platform revenue grew 12% to $73.5 million, exceeding the high end of previously raised guidance. However, Evo and Thaw platform revenue decreased 14% to $8.7 million.

The company completed strategic divestitures in 2024, selling its freezer business (Global Cooling and Arctic Solutions) and storage business (SciSafe), streamlining operations to focus on the cell and gene therapy market. Including SciSafe's discontinued operations revenue of $18.44 million, total preliminary unaudited revenues reached $100.69 million for 2024.

BioLife Solutions (BLFS) has appointed Tony J. Hunt, Executive Chairman of Repligen , to its board of directors effective January 2, 2025, expanding the board to six members. Hunt brings extensive experience in bioprocessing innovation and leadership, having served as Repligen's CEO for nine years before becoming Executive Chairman in September 2024. His prior roles include President of Bioproduction at Life Technologies and Senior Director of Pharma Programs at Applied Biosystems. BioLife Solutions, a leading supplier of cell processing tools for the cell and gene therapy market, aims to leverage Hunt's expertise to strengthen its position in CGT bioprocessing solutions.

BioLife Solutions (NASDAQ: BLFS) has announced the sale of its Custom Biogenic Systems (CBS) freezer subsidiary for $6.1 million in cash. This transaction completes the company's strategic divestiture of all freezer and related businesses, following the sale of Global Cooling in April. The move aligns with BioLife's strategic refocus on proprietary, higher-margin, recurring-revenue cell processing products for the cell and gene therapy market, moving away from capital equipment freezer and storage businesses that previously included Stirling, SciSafe, and CBS.

BioLife Solutions (Nasdaq: BLFS) reported its Q3 2024 financial results, showing a 30% increase in total revenue to $30.6 million compared to Q3 2023. Cell Processing revenue grew 6% sequentially to $19.0 million, marking a 43% increase year-over-year. The company achieved a GAAP gross margin of 51% and a non-GAAP adjusted gross margin of 54%. Despite a GAAP net loss of $1.7 million, BioLife posted a non-GAAP adjusted EBITDA of $6.1 million, or 20% of revenue. The sale of the SciSafe biostorage business for $73 million in cash was completed, and 2024 revenue guidance was updated to $98.0-$100.0 million. The company also noted a reduction in GAAP net loss from $15.8 million in Q3 2023 to $1.7 million in Q3 2024. BioLife's cash, cash equivalents, and marketable securities stood at $39.3 million as of September 30, 2024.

BioLife Solutions (NASDAQ: BLFS) has sold its biostorage subsidiary SciSafe for $73 million in cash. SciSafe, which generated $10.4 million in revenue during the first half of 2024, was originally purchased by BioLife in October 2020 for $39 million. The sale aligns with BioLife's strategy to focus on proprietary, higher-margin recurring-revenue consumable solutions. Following the transaction, Todd Berard, BioLife's Chief Marketing Officer, will become Chief Commercial Officer, while Garrie Richardson will transition to CEO of the independent SciSafe.