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BioLife Solutions, Inc. - BLFS STOCK NEWS

Welcome to our dedicated page for BioLife Solutions news (Ticker: BLFS), a resource for investors and traders seeking the latest updates and insights on BioLife Solutions stock.

BioLife Solutions Inc. (NASDAQ: BLFS), headquartered in Bothell, WA, is a frontline developer, manufacturer, and marketer in the healthcare sector. The company specializes in proprietary clinical-grade cell and tissue hypothermic storage and cryopreservation freeze media. Additionally, BioLife Solutions offers a cloud-hosted biologistics cold chain management application for smart shippers.

The company’s primary offerings include the CryoStor® and HypoThermosol® biopreservation media for shipping and storage, the ThawSTAR® series of automated, water-free thawing devices, the evo® cold chain management system, high-capacity cryogenic storage freezers, and products from acquired entities such as Stirling Ultracold mechanical freezers and SciSafe biologic storage services.

BioLife Solutions has recently announced strategic advancements, including the divestiture of Stirling Ultracold and Custom Biogenic Systems (CBS) freezer assets by December 31, 2023. This move is expected to optimize their product portfolio and focus on higher-margin, recurring revenue streams. Mike Rice, Chairman and CEO, emphasized the commitment to starting 2024 without the freezer product lines, indicating potential for higher shareholder value.

Financially, BioLife Solutions reported updated revenue guidance for 2023 ranging from $144 million to $158 million, and with positive adjusted EBITDA growth expected for 2024. They have also completed notable transactions such as the divestiture of Global Cooling, Inc., which is anticipated to enhance financial performance by reducing operational costs.

Other recent milestones include the introduction of the CryoCase, an innovative cryo-compatible rigid container designed for closed-system fill and retrieval, expected to be available in August 2024. Early evaluations show promising results in cell viability and reduction of particulates, underscoring BioLife’s commitment to innovation in the biopreservation market.

For those interested in the broader financial health and operational developments, BioLife Solutions regularly provides updates through its earnings calls and investor relations webpage.

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BioLife Solutions (NASDAQ: BLFS) introduced the CryoCase, a new addition to its CellSeal product line at the ISCT Conference in Vancouver. The CryoCase is designed for cell and gene therapy (CGT) primary packaging, aiming to replace cryopreservation bags with a fracture-resistant, rigid construction. It supports both manual and automated, closed-system use.

Available for demonstration at the ISCT event and expected to release to CGT developers in August, the CryoCase offers volume versatility, structural rigidity, and fill/retrieval port designs. It complies with USP 790 and USP 1790 standards and has shown high resistance to leaks and fractures during drop tests.

Early user tests indicated CryoCase may reduce particulates in single-use disposable manufacturing, potentially improving cell viability and recovery. Compatible with BioLife's Signata CT-5 system, CryoCase is expected to lower risks and costs in CGT manufacturing.

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BioLife Solutions, Inc. (Nasdaq: BLFS) reported first quarter 2024 financial results with cell processing revenue up 10%, GAAP gross margin at 38%, net loss of $10.2 million, and adjusted EBITDA of $3.6 million. They affirmed revenue guidance for 2024, emphasizing realignment and divestiture of non-core assets to improve financials. Key financial metrics show revenue of $31.7 million, gross margin of 38%, and a net loss of $10.2 million. The company anticipates revenue growth in cell processing and biostorage services platforms.

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BioLife Solutions, Inc. (NASDAQ: BLFS) will report its first quarter 2024 financial results on May 9, 2024. The company, a leading supplier of bioproduction tools and services for cell and gene therapies, will host a conference call and webcast to discuss the results and provide a business update. Investors can access the webcast and call details on the BioLife Solutions website.

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BioLife Solutions, Inc. (NASDAQ: BLFS) has announced the divestiture of its subsidiary Global Cooling, Inc. (
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BioLife Solutions, Inc. (BLFS) announces CEO and CFO to present at March Investor Conferences. The company will participate in TD Cowen 44th Annual Healthcare Conference and Key Banc Virtual Conference, engaging with investors.
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BioLife Solutions, Inc. (BLFS) reports a 11% sequential increase in Cell Processing revenue to $14.8 million in Q4 2023, with a positive adjusted EBITDA of $700,000. The company expects 2024 revenue of $95.5 - $100.0 million, excluding the freezer business. The strategic focus on high-margin consumable offerings and divestiture of low-margin freezer franchise aims to enhance shareholder value and financial profile.
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BioLife Solutions, Inc. (NASDAQ: BLFS) announced the release of its fourth-quarter and full-year 2023 financial results on February 29, 2024. The Company will conduct a conference call and webcast to discuss the financial results and provide a business update.
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BioLife Solutions, Inc. (BLFS) reported a fourth-quarter cell processing revenue increase of 11% sequentially to $14.8 million. However, the company's full-year 2023 preliminary unaudited revenue decreased by 11% to $143.3 million compared to 2022.
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BioLife Solutions, Inc. (Nasdaq: BLFS) announced Q3 2023 financial results, reporting $33.3 million in revenue, a decrease of 18% from Q3 2022, with strong ex-COVID growth of 50% in biostorage services. The company expects full year 2023 revenue to be at the low end of the guidance range, reflecting a year-over-year decrease of 11%.
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BioLife Solutions, Inc. (NASDAQ: BLFS) will release its third quarter financial results on November 9, 2023, after market close. The company will host a conference call and live webcast at 4:30pm ET (1:30pm PT) to discuss the results and provide a general business update. The webcast can be accessed on the Investor Relations page of the BioLife Solutions website, and the conference call can be dialed in at (800) 715-9871 with the conference ID number 5946398. A webcast replay will be available on the company's website for 90 days.
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FAQ

What does BioLife Solutions Inc. specialize in?

BioLife Solutions Inc. specializes in the development, manufacturing, and marketing of clinical-grade cell and tissue hypothermic storage and cryopreservation freeze media, along with a related cloud-hosted biologistics cold chain management application.

Where is BioLife Solutions Inc. headquartered?

BioLife Solutions Inc. is headquartered in Bothell, Washington.

What are some key products offered by BioLife Solutions?

Key products include CryoStor® and HypoThermosol® biopreservation media, ThawSTAR® automated thawing devices, evo® cold chain management system, and high-capacity cryogenic storage freezers.

What recent strategic changes has BioLife Solutions made?

BioLife Solutions recently divested its Stirling Ultracold and CBS freezer assets to focus on higher-margin, recurring revenue streams.

What financial guidance has BioLife Solutions provided for 2023?

BioLife Solutions has updated its 2023 revenue guidance to range from $144 million to $158 million and expects positive adjusted EBITDA growth in 2024.

What is the CryoCase and when will it be available?

The CryoCase is a cryo-compatible rigid container designed for closed-system fill and retrieval, expected to be available in August 2024.

How does BioLife Solutions ensure the safety and efficacy of its products?

BioLife Solutions manufactures its products under strict environmental and processing controls to limit particulates and ensure compliance with international standards.

How does the divestiture of freezer assets benefit BioLife Solutions?

The divestiture is expected to reduce cash burn, remove product warranty liabilities, and focus resources on higher-margin, recurring revenue streams, enhancing overall financial performance.

What are BioLife Solutions' key markets?

BioLife Solutions primarily serves the cell and gene therapy (CGT) and broader biopharma markets, providing tools and services that support the commercialization of new therapies.

Where can investors find more information about BioLife Solutions?

Investors can find more information, including financial updates and earnings calls, on BioLife Solutions' investor relations webpage and by following the company on LinkedIn and X.

BioLife Solutions, Inc.

Nasdaq:BLFS

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968.37M
46.07M
2.96%
98.43%
9.07%
Surgical and Medical Instrument Manufacturing
Manufacturing
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United States of America
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