Cryoport Inc Stock Price, News & Analysis

Cryoport (NASDAQ: CYRX) has unveiled its new Cryoport Express® Cryogenic HV3 Shipping System, designed for transporting biologics and temperature-sensitive materials. The HV3's innovative features include a rectilinear design that eliminates palletization needs, enabling transport on narrow-bodied aircraft and reducing flight rejections.

The system maintains temperatures at -150°C or lower and includes enhanced payload protection, additional space for accessories, and improved storage efficiency through stacking capabilities. Key features include integrated condition monitoring, robust wheels, and front-facing handles for better point-of-care accessibility.

The HV3 is compatible with Cryoport's Safepak® System and will be showcased at Phacilitate's Advanced Therapies Week in Dallas. The innovation aims to improve patient access to vital cell therapies in smaller cities and remote areas by increasing available shipping lanes and ensuring compliance with regional carriers.

Moffitt Cancer Center and Cryoport (NASDAQ: CYRX) announced a strategic collaboration where Cryoport's CRYOGENE will provide state-of-the-art biorepository services at Moffitt's Speros FL campus in Pasco County, Florida. The collaboration aims to support the development of cell and gene therapies, with the industry projected to reach over $97 billion by 2033 at an 18.3% CAGR from 2024-2033.

The facility will be located adjacent to Moffitt's 250,000-square-foot Discovery & Innovation Center and will enhance collaboration across Moffitt's expanding health system. CRYOGENE, which currently manages over 25 million samples across its Texas locations, will provide biostorage technologies and logistics services to support patient treatments and medical research.

This partnership is part of Speros' master development plan, which includes multiple phases focusing on cell and gene therapies, AI, biotech, and other life sciences initiatives. Construction of Moffitt's outpatient and proton therapy center began in 2023, with completion scheduled for 2026.

Cryoport (NASDAQ: CYRX) announced that its subsidiary MVE Biological Solutions has successfully registered all three manufacturing facilities with the FDA. The facilities are located in Ball Ground, Georgia; New Prague, Minnesota; and Chengdu, China. Additionally, all applicable MVE-manufactured cryogenic freezers and dewars are now FDA-listed.

The registration requires adherence to stringent requirements, including 21 CFR Part 820 and Good Manufacturing Practices (GMP). This FDA registration and product listing complements MVE's existing ISO 13485 certification. MVE is a leading global manufacturer of high-quality cryogenic freezers and dewars.

Cryoport (Nasdaq: CYRX) announced the opening of its new IntegriCell™ facility in Villers-le-Bouillet, Liege, Belgium. The ~1,300 square meter GMP-compliant cryopreservation facility can process over 1,100 leukapheresis products annually. The Center of Excellence will provide standardized bioprocessing, cryopreservation, and distribution solutions for cell therapy manufacturing, focusing on leukapheresis starting materials. The facility will serve as Cryoport Systems' European Center of Excellence, transferring optimized cryopreservation processes to other Cryoport facilities to ensure consistent quality across clinical and commercial cell-based therapy programs.

Cryoport (NASDAQ: CYRX) reported its Q3 2024 financial results. Life Sciences Services revenue increased by 9% YoY, with BioStorage/BioServices revenue up 12%. The company supported 691 global clinical trials as of September 30, 2024. Q3 2024 total revenue was $56.7 million, up 1% YoY. Life Sciences Products revenue fell by 14% YoY. The company reaffirmed its full-year 2024 revenue guidance of $225-$235 million. Gross margin improved to 44.8% from 43.2% YoY. Net income was $0.8 million for Q3 2024, compared to a net loss of $13.3 million in Q3 2023. Adjusted EBITDA was a negative $2.4 million, better than the negative $3.1 million in Q3 2023. Cryoport repurchased $175 million in Convertible Senior Notes due in 2026 for $154.5 million. The company launched IntegriCell™ Cryopreservation Solution in October 2024.

Cryoport (Nasdaq: CYRX) announced it will release its third quarter 2024 financial results on November 7, 2024 after U.S. markets close. The company will issue a document titled 'Cryoport Third Quarter 2024 in Review' at 4:05 p.m. ET, providing financial and operational performance details. Management will host a Q&A conference call at 5:00 p.m. ET the same day, accompanied by a slide deck. The call will be available for replay until November 14, 2024, accessible via the company's website or dial-in numbers.

Cryoport (NASDAQ: CYRX) and Gulf Coast Regional Blood Center (GCRBC) have announced a strategic alliance to enhance cellular therapy services. This partnership coincides with the grand opening of Cryoport's IntegriCell™ Houston facility. The collaboration combines GCRBC's Cellular Life Solutions program, specializing in allogeneic donor recruitment and apheresis collection, with Cryoport's cryopreservation and biologistics expertise.

The alliance aims to enhance the availability of high-quality, manufacture-ready cryopreserved allogeneic leukopaks for cellular therapy research, development, and treatment. GCRBC's program is located less than two miles from Cryoport's Houston campus, enabling efficient local transport through Cryoport's Cryoshuttle® service. This partnership is expected to create a comprehensive and unified service offering for the life sciences community, streamlining processes and accelerating the development of cell therapies.

Cryoport, Inc. (NASDAQ: CYRX) and TMRW Life Sciences have announced a strategic partnership to provide fertility clinics with complete solutions for secure specimen management and transport. This collaboration aims to address the growing demand for offsite storage of frozen specimens in fertility clinics.

The partnership combines TMRW's FDA-cleared automated specimen management and storage platform with Cryoport Systems' expertise in biologistics and transport. Both companies are ISO-certified, ensuring high-quality standards. TMRW offers HIPAA-compliant, military-grade data security with SOC II and HITRUST certifications, while Cryoport brings over a decade of experience in reproductive medicine biologistics and its Cryoportal® Logistics Management Platform.

This collaboration is expected to provide fertility clinics with comprehensive, trusted solutions for managing their growing specimen inventories with enhanced safety and reliability.

Cryoport, Inc. (NASDAQ: CYRX) and VGXI, Inc. have announced a strategic partnership to support biopharmaceutical companies in developing cell and gene therapies and mRNA-based treatments. The collaboration will commence in October 2024, with Cryoport Systems providing biostorage and bioservices from its Houston, Texas facility for plasmid DNA products manufactured at VGXI's facilities in The Woodlands and Conroe, Texas.

This partnership combines VGXI's expertise in plasmid DNA manufacturing with Cryoport's integrated supply chain solutions, including shipping services, data solutions, and comprehensive support services. The collaboration aims to enhance support for biopharmaceutical companies developing next-generation therapies, ensuring seamless final delivery to VGXI's end customers.