Cryoport, Inc. reports developments in temperature-controlled supply chain solutions for the life sciences, with recurring updates tied to regenerative medicine and cell and gene therapy support. Its platform includes the Cryoportal® Logistics Management Platform, advanced temperature-controlled packaging, informatics, specialized biologistics, biostorage, bioservices, cryopreservation services and cryogenic systems.
Company news commonly covers quarterly and annual operating results, revenue guidance, clinical-trial and commercial therapy support, Life Sciences Services and Life Sciences Products activity, MVE Biological Solutions cryogenic systems, product introductions such as Fusion freezers, and quality or regulatory certifications for therapeutic-cell transport.
Cryoport, Inc. (NASDAQ: CYRX) will announce its financial results for the third quarter of 2020 on November 5, 2020, after the market closes. A comprehensive review document will also be released at 4:05 PM ET, providing details on financial and operational performance. Following the release, Cryoport will host a Q&A conference call at 5:00 PM ET, with dial-in options available. The company is focused on redefining temperature-controlled supply chain support for the life sciences industry.
Cryoport (NASDAQ: CYRX) has signed an agreement to acquire CRYOPDP, a leading provider of temperature-controlled logistics solutions, for approximately €49 million in cash. This acquisition aims to enhance Cryoport's global supply chain network, particularly in Europe, the Middle East, Africa, and Asia Pacific, regions identified as high-growth areas for biopharma and cell and gene therapies. CRYOPDP reported over €42 million in revenue in 2019 and the acquisition is expected to be immediately accretive to Cryoport's earnings. The deal is anticipated to close within 60 days, subject to standard conditions.
Cryoport (NASDAQ: CYRX) reported Q2 2020 revenues of $9.4 million, an 11% increase year-over-year, driven by its biopharma segment. The company now supports 491 clinical trials, with significant growth in biopharma despite COVID-19 disruptions. Key partnerships remain strong, including renewed agreements with Gilead and FedEx. However, Cryoport posted a net loss of $5.8 million for Q2, up from $2.5 million in 2019. The company holds $208.2 million in cash and investments, bolstered by a convertible debt offering. Future growth is supported by an expanding global supply chain network.
On August 4, 2020, Cryoport (NASDAQ: CYRX) and MEDIPAL HOLDINGS announced a multi-year strategic alliance to provide an integrated supply chain solution for regenerative medicine in Japan. This partnership aims to enhance distribution for specialty cell and gene therapies requiring strict temperature controls and tracking systems. Cryoport supports over 465 clinical trials globally, while MEDIPAL specializes in timely logistics for healthcare products across varied temperatures. The alliance seeks to improve certainty and reduce risks for clients, enabling better service for medical needs.
Cryoport, Inc. (NASDAQ: CYRX) will report its financial results for the second quarter ended June 30, 2020, on August 6, 2020, post-market. An additional review document, highlighting recent financial and operational performance, will be issued concurrently. The management will conduct a conference call at 5:00 PM ET on the same day for investor queries, accessible via their Investor Relations platform.