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 develops and supplies cell processing tools and bioproduction products for the cell and gene therapy market and broader biopharma customers. Company news commonly covers financial results from continuing operations, demand for biopreservation media, and the role of its products in maintaining biologic material during collection, development, manufacturing, storage, distribution, and thawing.
Recurring updates also include product-portfolio expansion, supply agreements for cell and gene therapy manufacturing inputs, CellSeal vial systems, human platelet lysate products, cytokine and growth factor distribution, and research activity tied to biopreservation and cryopreservation technologies.
BioLife Solutions (NASDAQ: BLFS) appointed Timothy L. Moore to its board of directors, enhancing its leadership. Moore, a seasoned executive with over 30 years in biopharmaceutical manufacturing, previously served as President and COO of PACT Pharma and held key roles at Kite Pharma and Genentech. His expertise is expected to guide BioLife in optimizing its marketing strategies and operational efficiency in the cell and gene therapy sectors.
BioLife Solutions reported record revenue of $40.5 million for Q2 2022, a 30% increase year-over-year with organic growth of 44%. Revenue guidance for 2022 has been updated to $160 million to $166 million, reflecting a year-over-year growth of 34% to 39%. Adjusted EBITDA was $1.5 million compared to a loss of $814,000 in Q1. Despite operational challenges, the biopreservation media segment achieved 46% growth. However, a non-cash impairment charge impacted financial results significantly, leading to a $72.6 million net loss for Q2.
BioLife Solutions, a supplier of bioproduction tools for cell and gene therapies, will announce its second quarter 2022 financial results after market close on August 9, 2022. A conference call and live webcast are scheduled for 4:30 PM ET, where management will discuss the financial results and provide a business update. The webcast can be accessed via the Investor Relations page on BioLife's website.
BioLife Solutions (NASDAQ: BLFS) has announced the launch of its SciSafe biostorage services platform, featuring ultra-low temperature (ULT) truck trailers for local cold chain movements of biologic materials. This service aims to enhance operational flexibility and reduce risks in transporting high-value assets for life sciences companies. The fleet can handle temperatures as low as -196°C, supporting efficient transportation without dry ice. Guidance for 2022 revenue ranges from $21.5 million to $26 million for storage services, contributing to a total revenue expectation of $159.5 million to $171 million.
BioLife Solutions reported Q1 2022 revenue of $36.2 million, a 115% increase year-over-year, driven by 45% organic growth and 53% growth in biopreservation media revenue. The company reaffirmed 2022 revenue guidance between $159.5 million and $171.0 million, expecting year-over-year growth of 34% to 44%. Despite supply chain challenges affecting freezer orders, management expressed confidence in achieving continued growth. The company noted a gross margin of 29% and an adjusted EBITDA loss of $814,000, while also highlighting management's decision to accept stock compensation as a sign of confidence.
BioLife Solutions (NASDAQ: BLFS) will release its first quarter 2022 financial results after the market closes on May 9, 2022. A conference call will follow at 4:30 PM ET, where management will discuss financials and provide a business update. BioLife Solutions is recognized for its innovative bioproduction tools and services tailored for the cell and gene therapy sectors. To access the call, visit their Investor Relations page or dial in at (877) 270-2148 domestically.
BioLife Solutions, Inc. (Nasdaq: BLFS) announced the approval of Grant Thornton LLP as its new independent registered public accounting firm, effective April 6, 2022. This decision comes after the Audit Committee dismissed its previous auditor following a proposal process for the fiscal year ending December 31, 2022. The company filed a Form 8-K detailing these changes, indicating a strategic move to bolster its financial oversight as it continues to provide innovative bioproduction solutions for the cell and gene therapy markets.
BioLife Solutions (Nasdaq: BLFS) announced it received a notice from Nasdaq for failing to timely file its Annual Report on Form 10-K for the year ended December 31, 2021. The notice indicates non-compliance with Nasdaq's listing rules. BioLife's CFO, Troy Wichterman, stated that they intend to file the Form 10-K by March 31, 2022, which may help regain compliance. The company has 60 days from the notice to submit a compliance plan, with a potential extension of up to 180 days if accepted. However, there is no guarantee that Nasdaq will accept the plan.
BioLife Solutions, Inc. (Nasdaq: BLFS) announced an additional delay in filing its Annual Report on Form 10-K for the year ended December 31, 2021. The CFO, Troy Wichterman, stated that they are working diligently to complete the report, aiming to file it by March 31, 2022. This delay raises concerns about compliance with regulatory obligations. BioLife Solutions specializes in bioproduction products and services for cell and gene therapies and broader biopharma markets.
BioLife Solutions (BLFS) has announced growth expectations for its SciSafe biostorage services platform, highlighting the booming outsourced biostorage market. Three key growth catalysts include securing new long-term contracts with East coast and Mid-Atlantic clinical centers, plans to open a new US-based biorepository, and a co-marketing agreement with a research institute. The global biostorage services market is projected to grow from $428 million in 2021 to $900 million by 2029. Revenue guidance for 2022 is set between $159.5 million and $171 million, reflecting strong year-over-year growth.