Cryoport Inc Stock Price, News & Analysis

Cryoport has announced a strategic partnership with BioLife Plasma Services to create an integrated supply chain platform for cell therapy services across the U.S. and Europe. This collaboration aims to standardize the collection, processing, and storage of cellular therapies, enhancing compliance with GMP regulations. Operations will initially launch in Houston, Texas, leveraging Cryoport's logistics capabilities and BioLife's donation centers. This platform is projected to streamline processes, expand service offerings, and increase access to crucial cellular therapy materials.

Cryoport reported a record revenue of $64.2 million for Q2 2022, marking a 14% increase year-over-year, or 18% at constant currency. The company supported 626 global clinical trials, up by 17 trials, with significant growth in Biopharma/Pharma, which generated $51.7 million. Animal Health and Reproductive Medicine revenues increased by 14% and 24% respectively. Despite strong revenue growth, the net loss for Q2 2022 was $9.2 million, wider than the previous year's loss. Cryoport maintains its revenue guidance of $260 million to $265 million for 2022.

Cryoport, Inc. (Nasdaq: CYRX) will report its financial results for Q2 2022 on August 4, 2022, after market close. Alongside the earnings release, a document titled 'Cryoport Second Quarter 2022 in Review' will be released at 4:05 PM ET, offering insights into financial and operational performance. A Q&A conference call will follow at 5:00 PM ET, allowing investors to ask questions regarding the results. The call can be accessed via dial-in and live webcast, with replays available for a limited time.

Cryoport, Inc. (CYRX) reported first-quarter 2022 revenue of $52.3 million, down 2% from $53.3 million year-over-year, impacted by $9.4 million due to a fire at its New Prague facility. Biopharma/Pharma revenue increased 1% to $43.0 million, with commercial therapies rising 53.5% to $3.9 million. The company supports a record 609 clinical trials, including 81 in Phase 3. Despite operational setbacks, Cryoport expects 2022 revenue guidance of $260-$265 million, reflecting a 17%-19% growth over 2021. As of March 31, 2022, Cryoport held $600 million in cash and equivalents.

Cryoport, Inc. (Nasdaq: CYRX) will report its financial results for the first quarter ended March 31, 2022, on May 5, 2022, after market close. A comprehensive review of the company's financial and operational performance will accompany the earnings release. Management will also host a Q&A conference call at 5:00 PM ET on the same day. Cryoport specializes in temperature-controlled supply chain solutions for the life sciences industry, supporting critical therapies globally. Investors can access the results and the conference call through the company's website.

Cryoport, a leader in temperature-controlled supply chain solutions, announced the acquisition of Cell&Co BioServices for €6.2 million, enhancing its presence in the EMEA region. The deal includes €3.6 million upfront and a potential earn-out of €2.5 million based on performance. In 2021, Cell&Co generated approximately €2.6 million in revenue. This acquisition aims to support Cryoport's Global Supply Chain Network and meet the growing demand for cell and gene therapies, with an estimated 30 to 50 new therapies expected annually by 2027.

Cryoport, Inc. (Nasdaq: CYRX) announced the return to full production at its New Prague, MN facility after a fire on January 25, 2022, which temporarily halted operations. Originally estimating a revenue impact of $4 to $5 million, the company revised expectations to $9.0 to $9.5 million due to unexpected challenges in recommissioning. However, insurance is expected to cover most restoration costs. Management aims to improve shipment timelines for customers throughout the year.

Cryoport, Inc. (NASDAQ: CYRX) announced a $100 million stock repurchase program authorized by its Board of Directors, aiming to enhance shareholder returns and reflect confidence in its business model. The repurchase will be executed at management's discretion, considering market conditions, and is set to expire on December 31, 2025. CEO Jerrell Shelton emphasized the program's focus on effective capital allocation while maintaining liquidity for growth opportunities. Upcoming investor presentations are scheduled, with notable conferences listed for March to June 2022.

Cryoport (NASDAQ: CYRX) reported record revenues of $222.6 million for 2021, marking a 183% increase from 2020, driven by strong growth in Biopharma/Pharma, which rose 171% to $180.2 million. The fourth quarter revenue reached $56.4 million, up 17% year-over-year. Despite a fire impacting MVE Biological Solutions, demand remains high, and the company supports 602 clinical trials globally. Cash and short-term investments total $629 million. However, the net loss increased to $275.5 million for the year, influenced by a non-cash debt extinguishment expense of $251.8 million.