Welcome to our dedicated page for Cryoport news (Ticker: CYRX), a resource for investors and traders seeking the latest updates and insights on Cryoport stock.
Cryoport Inc (NASDAQ: CYRX) provides mission-critical temperature-controlled logistics solutions for the life sciences industry, specializing in cell/gene therapies and biologics transport. This page serves as the definitive source for verified corporate announcements, financial updates, and operational developments.
Investors and industry professionals will find timely updates on earnings reports, strategic partnerships, technology innovations, and regulatory milestones. All content is curated to support informed decision-making while adhering to financial disclosure standards.
The repository includes press releases covering logistics network expansions, new cryogenic system deployments, and clinical trial support agreements. Each update reflects Cryoport's role in enabling safe biological material transport across 50+ global locations.
Bookmark this page for direct access to primary source materials about Cryoport's temperature-controlled supply chain solutions, maintained with strict neutrality and compliance with financial reporting guidelines.
Cryoport, Inc. (NASDAQ: CYRX) has launched its IntegriCell™ cryopreservation services solution with the opening of a new facility at its Houston campus. The state-of-the-art facility is dedicated to the standardized cryopreservation of leukapheresis material, integrating with Cryoport's end-to-end global temperature-controlled supply chain platform to support cell-based therapies.
The IntegriCell platform aims to enhance cell therapy manufacturing efficiency and flexibility, ensuring safety, quality, and product stability. The Houston site also supports GMP-compliant biostorage and a full suite of bioservices, including secondary packaging, labeling, kit production, and logistics capabilities.
Cryoport's CEO, Jerrell Shelton, stated that the new facility expands their presence in Houston and is a significant milestone in providing integrated supply chain solutions for cell and gene therapies. The company believes IntegriCell will offer the industry's first complete solution for optimized cellular starting materials, potentially accelerating treatment delivery and opening new revenue streams.
Cryoport, Inc. (NASDAQ: CYRX) and SK pharmteco have announced a strategic collaboration to provide integrated logistics and manufacturing services for biotechnology and pharmaceutical companies. Cryoport will support SK pharmteco's contract manufacturing of small molecule and cell and gene therapy products with its end-to-end supply chain services, including shipping systems, data solutions, and bioservices.
Jerrell Shelton, CEO of Cryoport, expressed enthusiasm about the partnership, highlighting its alignment with Cryoport's goal to diversify revenue streams, particularly from commercial cell and gene therapies. Dana Cipriano, VP of Analytical Services at SK pharmteco, emphasized the importance of supply chain safety and integrity in the growing cell and gene therapy industry, reaffirming their commitment to providing high-quality services tailored to customer and patient needs.
Cryoport reported Q2 2024 financial results, showing sequential revenue improvement across all businesses. Key highlights include:
- Commercial Cell & Gene Therapy revenue increased 51% year-over-year and 20% sequentially
- A record 684 global clinical trials supported as of June 30, 2024
- Cost reduction initiatives expected to result in $22 million annual savings
- Updated 2024 full-year revenue guidance of $225-$235 million
- Q2 2024 total revenue was $57.6 million, up 1% year-over-year
- Gross margin improved to 43.7% in Q2 2024 from 43.4% in Q2 2023
- Net loss of $78.0 million in Q2 2024, primarily due to a $63.8 million impairment charge
- $427.1 million in cash and investments as of June 30, 2024
The company expects continued softness in Life Sciences Products demand but anticipates sequential growth in Life Sciences Services for the remainder of 2024.
Cryoport announced a $200 million repurchase program for common stock and convertible senior notes, effective until December 31, 2027. The company also agreed to repurchase $160 million of its 0.75% Convertible Senior Notes due in 2026 at an 11.5% discount, valued at $141.6 million plus accrued interest. This strategic move aims to reduce the outstanding debt to approximately $186.2 million, down from an initial $402.5 million. The transactions are expected to close on August 9, 2024, subject to customary closing conditions. CEO Jerrell Shelton emphasized the company's strong cash position, which enables debt reduction while maintaining liquidity for long-term growth.
Cryoport (Nasdaq: CYRX), a global leader in life sciences supply chain solutions, has announced it will report its second quarter 2024 financial results on August 6, 2024, after U.S. markets close. The company will release a document titled 'Cryoport Second Quarter 2024 in Review' at 4:05 p.m. ET, providing a comprehensive review of financial and operational performance, along with a general business update.
A conference call will be held the same day at 5:00 p.m. ET, featuring a Q&A session with management addressing questions from the investment community. The call will be accompanied by a slide deck and can be accessed via phone or webcast. A recording of the call will be available on the company's website for a time, with a dial-in replay accessible until August 13, 2024.
Cryoport, a leader in life sciences supply chain solutions, and Minaris Regenerative Medicine, a contract development and manufacturing organization, announced a strategic partnership on June 20, 2024. This collaboration aims to provide fully integrated logistics and manufacturing services for regenerative medicine products, supporting the advancement of cell and gene therapies. Combining Cryoport's logistics expertise with Minaris' manufacturing capabilities, the partnership will offer comprehensive services from cell and tissue collection to delivery, ensuring secure transport and quality assurance. The partnership will initially focus on Minaris' Japan-based branch but plans to extend services across the entire Minaris group.
Cryoport, Inc. reported Q1 2024 financial results with $54.6 million in revenue, showing a 13% decrease YoY. Despite Life Sciences Products revenue decline, Commercial Cell & Gene Therapy revenue increased 9%. Cryoport reiterated full year 2024 revenue guidance of $242-$252 million, anticipating revenue improvement. The company is investing in supporting life-saving therapies and implementing cost-saving initiatives for positive adjusted EBITDA and cash flow.
Cryoport, Inc. (Nasdaq: CYRX) will report financial results for Q1 2024 on May 7, 2024. A document reviewing financial and operational performance will be issued along with an earnings release. A conference call will address investor questions at 5:00 p.m. ET.
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