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.
The Cryoport, Inc. (NASDAQ: CYRX) news page on Stock Titan aggregates company announcements, earnings releases, and operational updates related to its role in temperature-controlled supply chain solutions for the life sciences. Cryoport regularly issues news about its performance, infrastructure expansion, and developments across its Life Sciences Services and Life Sciences Products segments.
Recent news has highlighted quarterly financial results, including revenue from continuing operations across Life Sciences Services, BioStorage/BioServices, and Life Sciences Products. The company also reports on metrics such as the number of commercial cell and gene therapies it supports and the global clinical trials that rely on its logistics and storage capabilities.
Operational updates feature the launch and expansion of Global Supply Chain Centers, such as the facility near Paris Charles de Gaulle Airport, which is designed to provide end-to-end, temperature-controlled solutions for biopharma, animal health, and reproductive medicine. Additional news items cover product and technology introductions from MVE Biological Solutions, including dry vapor shippers and integrated condition monitoring systems powered by Tec4med, as well as the MVECloud platform for monitoring cryogenic environments.
Cryoport also publishes news on strategic actions, such as the divestiture of its CRYOPDP specialty courier business and its strategic partnership with DHL, and on quality and compliance milestones, including ISO 21973 certification for transportation of human cells for therapeutic use. Investors and industry observers can use this news feed to follow how Cryoport’s financial performance, infrastructure, and service offerings evolve over time.
Cryoport, Inc. (NASDAQ: CYRX) has entered a multi-year partnership with Inception Fertility, North America's leading provider of fertility services. This agreement enhances Cryoport's end-to-end supply chain solutions for shipping reproductive materials, ensuring better service and risk mitigation for families. Key features include the integration of Prelude's patient medical records with Cryoport's Cryoportal 2.0, streamlining data management related to shipments. Cryoport boasts a 99% success rate in reproductive medicine shipments in 2022, indicating a robust operational capability and positioning for future growth.
Cryoport (NASDAQ: CYRX) has confirmed it has no financial exposure or business relationship with Silicon Valley Bank as of March 13, 2023. The company does not hold any deposits, securities, or maintain accounts with Silicon Valley Bank or its affiliates. This statement aims to reassure investors following concerns surrounding the bank. Cryoport is a leader in temperature-controlled supply chain solutions for the life sciences sector, focusing on biopharmaceutical and cell and gene therapy markets. The company operates over 40 strategic locations globally, providing essential services to the biopharma/pharma, animal health, and reproductive medicine sectors.
Cryoport, Inc. (NASDAQ: CYRX) reported a record revenue of $237 million for 2022, marking a 7% increase year-over-year. Commercial revenue grew by 27%, supported by a record 654 global clinical trials and 10 commercial therapies.
Entering 2023, the company holds $523 million in cash and projects revenue between $270 million and $290 million, representing 18% growth at the mid-point. The demand for its temperature-controlled supply chain solutions in the cell and gene therapy markets drives this growth.
Cryoport, Inc. (Nasdaq: CYRX) will announce its fourth quarter and full year 2022 financial results on February 23, 2023, after U.S. markets close. Alongside the earnings release, a detailed document titled "Cryoport Fourth Quarter and Full Year 2022 in Review" will be shared, summarizing financial performance and business updates. The management will host a conference call at 5:00 PM ET the same day for a Q&A session regarding the results. Interested parties can participate via dial-in or live webcast. The company is a leader in temperature-controlled supply chain solutions for the life sciences sector, impacting the pharmaceutical and cell and gene therapy markets.
Cryoport (NASDAQ: CYRX) announced a strategic partnership with Syneos Health (NASDAQ: SYNH) to offer integrated solutions for the cell and gene therapy sectors. This collaboration will combine Syneos Health's clinical development services with Cryoport's IntegriCell™ platform, enhancing apheresis collection and cryopreservation methods. The partnership aims to expedite the advancement of therapies, improve patient access, and boost outcomes in clinical trials. Cryoport supports 9 commercial therapies and 643 trials globally, highlighting its role in the thriving biopharmaceutical landscape.
Cryoport, Inc. (Nasdaq: CYRX), a leader in temperature-controlled supply chain solutions, will present at the J.P. Morgan 41st Annual Healthcare Conference from January 9-12, 2023 in San Francisco. CEO Jerrell Shelton's presentation is scheduled for January 12, 2023, at 8:15 a.m. PT. CFO Robert Stefanovich and VP Thomas Heinzen will also hold 1x1 meetings with attendees. Cryoport supports cell and gene therapies worldwide, with 38 locations across the globe and involvement in 643 clinical trials, including 80 in Phase 3.
Cryoport, Inc. (CYRX) reported third-quarter revenue of $60.5 million, marking a 7% increase over the previous year. Nine-month revenue reached $176.9 million, up 6%. The company supports a record 643 global clinical trials, with significant growth in Cryoport Systems revenue, which rose 25% year-over-year. However, macroeconomic challenges, including foreign exchange impacts and supply chain disruptions, are prompting a reevaluation of annual guidance, now projected at $232-$238 million. Cryoport remains optimistic about future growth, aided by new product launches and strategic partnerships.
Cryoport, Inc. (Nasdaq: CYRX) will report its financial results for the third quarter of 2022 on November 3, 2022, after U.S. market close. A supplementary document titled 'Cryoport Third Quarter 2022 in Review' will also be released, detailing recent financial and operational performance. The management will conduct a conference call at 5:00 PM ET the same day to discuss the results, which will be accessible via the company's Investor Relations page.
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.