Cryoport Inc Stock Price, News & Analysis

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.

Cryoport, Inc. (Nasdaq: CYRX) announced it will release its fourth quarter and full-year 2021 financial results on February 24, 2022, after U.S. market close. A review document detailing financial and operational performance will also be available at that time. The company will host a Q&A conference call the same day at 5:00 PM ET, allowing investors to inquire about the results. Cryoport specializes in temperature-controlled supply chain solutions for life sciences, supporting critical therapies globally.

Cryoport, Inc. (Nasdaq: CYRX) provided an update on its New Prague facility, which experienced a fire on January 25, 2022. Production is expected to resume during the week of February 14, 2022, with the company anticipating a revenue impact of $4 to $5 million during the first quarter. Insurance is expected to cover most restoration costs. Cryoport is a leader in temperature-controlled supply chain solutions for life sciences, supporting various therapies and clinical trials globally.

Cryoport, Inc. (Nasdaq: CYRX) reported a fire incident on January 25, 2022, at its MVE Biological Solutions manufacturing facility in New Prague, Minnesota. The fire caused limited damage and no injuries were reported. Operations at the facility will be temporarily reduced until repairs are completed, which could affect financial results for Q1 and possibly Q2 of 2022. However, Cryoport expects insurance to cover a significant portion of the financial impact. The company continues to assess operations and will provide updates as necessary.