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) is a developer and supplier of cell processing tools and services and bioproduction products and services for the cell and gene therapy (CGT) and broader biopharma markets. News about BLFS often centers on how its biopreservation media, CellSeal vials, hPL products, and related cell processing tools are used in clinical trials and commercial CGT therapies, as well as on portfolio changes and strategic transactions.
Investors and industry followers can use this page to track BioLife’s announcements on quarterly and annual financial results, including updates on Cell Processing revenue and the performance of its biopreservation media franchise. The company regularly reports on the contribution of customers with approved therapies, the extent of clinical trial adoption in the United States, and its use of GAAP and non-GAAP measures such as adjusted gross margin and adjusted EBITDA.
BioLife’s news flow also includes updates on portfolio streamlining and strategic moves, such as the divestiture of its evo cold chain logistics subsidiary and earlier sales of Global Cooling, SciSafe, and Custom Biogenic Systems, as well as acquisitions and investments like the PanTHERA CryoSolutions IRI cryopreservation technology and the strategic investment in Pluristyx. These items illustrate how the company is focusing on its core cell processing business while adding scientific capabilities and adjacencies.
In addition, BioLife issues press releases on corporate developments such as the opening of the Aby J. Mathew Center for Biopreservation Excellence in Bothell, Washington, and participation in healthcare and small- and mid-cap investor conferences. For readers following the CGT supply chain, this news page provides a centralized view of BioLife’s operational updates, clinical adoption metrics, strategic transactions, and investor communications over time.
BioLife Solutions (NASDAQ: BLFS), a leader in bioproduction products for cell and gene therapies, announced two significant co-investments with Casdin Capital on December 1, 2020. The first investment is a $1 million commitment to iVexSol, contributing to a total of $15.2 million in their Series A financing. BioLife also plans to invest $1 million in PanTHERA CryoSolutions, with the potential for an additional $2 million in development payments. Both investments aim to enhance next-generation technologies in the field, positioning BioLife for growth in the bioproduction sector.
BioLife Solutions (NASDAQ: BLFS) has been ranked 403rd on Deloitte's Technology Fast 500™, recognizing its rapid growth as a leading supplier of bioproduction products for cell and gene therapies.
Revenue increased by 233% from 2016 to 2019, highlighting its successful market penetration. CEO Mike Rice emphasized the company’s potential in the regenerative medicine sector, anticipating significant growth in demand for their bioproduction tools. With proprietary technologies and a strong market presence, BioLife is poised to expand further.
BioLife Solutions (NASDAQ: BLFS) reported strong financial results for Q3 2020, with total revenue of $11.3 million, a 71% increase year-over-year. Revenue from biopreservation media reached $7.4 million, accounting for 66% of total revenue, driven by new customers and acquisitions, including SciSafe. Despite revenue growth, gross margins declined to 52% from 64% in 2019 due to lower-margin product acquisitions. The net loss for Q3 was $1.1 million, compared to a net income of $10.3 million in Q3 2019. Cash reserves increased significantly to $109 million.
BioLife Solutions (NASDAQ: BLFS) will announce its third quarter 2020 financial results post-market on November 5, 2020. The Company will host a conference call at 4:30 p.m. ET to discuss its financial overview and business updates. Investors can access the call via the company's Investor Relations page. BioLife is a key supplier of bioproduction products for cell and gene therapies, offering solutions like CryoStor® and HypoThermosol® to aid in the preservation and management of biological products.
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.
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