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) announced the appointment of Joydeep Goswami to its board of directors, effective October 1, 2021. Goswami, who previously held senior roles at Illumina and Thermo Fisher Scientific, will replace retiring board member Andrew Hinson. The addition aims to bolster the company's strategic planning and partnerships, enhancing shareholder value. CEO Mike Rice expressed excitement about Goswami's expertise in life sciences, anticipating a positive impact on business growth.
BioLife Solutions (Nasdaq: BLFS) announced the retirement of CFO Roderick de Greef, effective December 31, 2021. He will assist in the transition until March 31, 2022. De Greef has been vital to the company for over 20 years, significantly impacting its growth and funding strategies. The company has engaged executive search firm Strawn Arnold to find his successor. CEO Mike Rice expressed gratitude for de Greef's contributions, emphasizing his instrumental role during a period of significant expansion.
BioLife Solutions (Nasdaq: BLFS) has filed a Form S-3 registration statement with the SEC to register approximately 10.7 million shares of restricted common stock. These shares are held by stockholders from acquired companies including Global Cooling, Inc. and Sexton Biotechnologies, and also include shares from Casdin Capital. CEO Mike Rice emphasized the strategic importance of recent acquisitions in a growing market. The filing is in compliance with obligations related to these acquisitions, and no new shares are being issued.
BioLife Solutions (Nasdaq: BLFS) announced the closing of its acquisition of Sexton Biotechnologies on September 1, 2021. This acquisition enhances BioLife’s portfolio with proprietary bioproduction tools, such as closed vials for cell therapy packaging and human platelet lysate media, integral to over 50 ongoing clinical trials. CEO Mike Rice emphasized the strategic significance of this acquisition for expanding revenue and capabilities in the cell and gene therapy market, marking it as BioLife's sixth acquisition in just over two years.
BioLife Solutions (BLFS) announced its inclusion in the S&P SmallCap 600 Index, effective August 30, 2021. This recognition reflects the company’s commitment to enhancing shareholder value through its innovative bioproduction products for cell and gene therapies. The S&P SmallCap 600 Index comprises small-cap companies that meet specific liquidity and financial viability criteria. BioLife's CEO, Mike Rice, emphasized this milestone as a tribute to the team's dedication to customer satisfaction and long-term growth.
BioLife Solutions (BLFS) reported a record second quarter 2021 revenue of $31.2 million, reflecting a 215% year-over-year increase. The growth was fueled by acquisitions, including Stirling Ultracold, contributing $13.3 million. Adjusted net income was $422,000 for the six months ending June 30, while earnings per diluted share rose to $0.19. The company also updated its 2021 revenue guidance to between $108 million and $117 million, showing continued confidence in their market position.
On August 9, 2021, BioLife Solutions (NASDAQ: BLFS) announced its agreement to acquire Sexton Biotechnologies for a total deal value of $30 million. This acquisition aims to enhance BioLife's capabilities in the cell and gene therapy sector by integrating Sexton's innovative technologies such as CellSeal cryogenic storage vials and the Signata CT-5 fluid handling system. The merger is expected to strengthen BioLife's product offerings and relationships with cell and gene therapy developers, positioning the combined organization for further growth.
BioLife Solutions (Nasdaq: BLFS) has announced its acquisition of Sexton Biotechnologies for $24.0 million, paid through 506,382 newly issued shares. This transaction is expected to close by September 1, 2021. Sexton's products, including closed vials and human platelet lysate media, are integral to over 50 clinical trials. The acquisition is projected to contribute approximately $2 million to BioLife's 2021 revenue and $8 million in 2022, benefiting from synergies between both companies' offerings.
BioLife Solutions (NASDAQ: BLFS) will release its second quarter 2021 financial results on August 12, 2021, after market close. A conference call and live webcast will follow at 4:30 p.m. ET. The call will provide insights into the financial results and an overall business update. Investors can access the webcast on BioLife's Investor Relations page or join the call using Conference ID: 8083954. BioLife is known for its innovative bioproduction products tailored for cell and gene therapies.
BioLife Solutions (Nasdaq: BLFS) has announced changes to its board of directors, effective July 12, 2021. Raymond W. Cohen resigned from the board after serving since 2006 and as chairman since 2013. Mike Rice, the current CEO, has been appointed as the new chairman. Cohen expressed gratitude for his time at BioLife, highlighting the company's growth in bioproduction tools for cell and gene therapies. The leadership transition aims to ensure continued strategic direction and growth.