Biolife Solutions Inc - BLFS STOCK NEWS

BioLife Solutions (NASDAQ: BLFS) announced that its SciSafe division has secured a two-year contract worth approximately $2.7 million for cold chain management and storage of COVID-19 vaccines from a major pharmaceutical company. This contract is expected to significantly contribute to the company's revenue, with an estimated $9 million in incremental revenue anticipated in 2021. The contract strengthens SciSafe's reputation in the industry, bolstering its relationships with top pharma clients.

BioLife Solutions (NASDAQ: BLFS) has completed its acquisition of SciSafe, a provider of biological materials storage to the cell and gene therapy sectors, enhancing its service offerings. SciSafe generated $6 million in revenue in 2019 and is expected to be accretive in 2021, with fourth quarter 2020 revenue projected at $1.8 million. This acquisition is anticipated to bolster BioLife's market presence and synergies in the bioproduction tools sector.

BioLife Solutions (NASDAQ: BLFS) has announced its agreement to acquire SciSafe, a biological materials storage provider, for $30 million—$15 million in cash and $15 million in stock. Expected to close on September 30, 2020, the acquisition aims to enhance BioLife's offerings in the cell and gene therapy market. SciSafe generated $6 million in revenue in 2019 and is projected to add $1.8 million in Q4 2020 and $9 million in 2021 to BioLife's revenue. The deal also includes potential stock incentives based on revenue milestones.

BioLife Solutions (BLFS) reported strong financial results for Q2 2020, achieving $9.9 million in total revenue, a 48% increase from Q2 2019. Biopreservation media revenue rose to $6.7 million, comprising 67% of total revenue despite a 23% decline from Q1 2020. The company gained 88 new customers and processed 14 new U.S. FDA Drug Master File requests. However, net loss for Q2 was $16.4 million due to expenses related to warrants. The company has sufficient cash reserves of $29.9 million for strategic acquisitions. Financial guidance for 2020 remains withdrawn.

BioLife Solutions (NASDAQ: BLFS) will release its second quarter 2020 financial results on August 6, 2020, after market close. A conference call and live webcast will occur at 4:30 p.m. ET, where management will discuss the financial results and company updates. BioLife specializes in bioproduction tools for cell and gene therapies, including products like CryoStor® and HypoThermosol®. Investors can access the webcast via the company’s Investor Relations page.

BioLife Solutions announced the closing of its public offering of 5,951,250 shares of common stock at $14.50 per share, grossing approximately $86 million before deductions. This includes the underwriters' full exercise option for an additional 776,250 shares. Cowen, Oppenheimer & Co., and Stephens Inc. served as joint book-running managers, with B. Riley FBR, Maxim Group LLC, and Northland Capital Markets as co-managers. The offering was made under an SEC registration statement and all relevant documents are available on their website.

BioLife Solutions, a provider of bioproduction tools for cell and gene therapies, has priced a public offering of 5,175,000 shares at $14.50 each, generating approximately $75 million in gross proceeds. The offering is set to close on July 7, 2020, pending closing conditions. Furthermore, underwriters have a 30-day option for an additional 776,250 shares. The proceeds will be used for general corporate purposes, including potential investments in synergistic companies.

BioLife Solutions, based in Bothell, Wash., announced preliminary revenue estimates for Q2 2020, projecting between $9.6 million and $9.8 million, which reflects a 43% to 46% growth compared to the same period in 2019. CEO Mike Rice highlighted the addition of 57 new customers and the use of their products in 23 new clinical trials despite challenges from COVID-19. The revenue figures are preliminary and subject to further review by independent auditors.