Cryoport Inc Stock Price, News & Analysis

Cryoport, a leader in temperature-controlled supply chain solutions, plans to offer shares of its common stock through a registered direct placement. The number of shares and pricing will be determined based on market conditions. The company aims to use the net proceeds to repurchase a portion of its 3.00% Convertible Senior Notes due 2025 and for general corporate purposes. In a separate announcement, Cryoport intends to offer $300 million in aggregate principal of convertible senior notes due 2026. The completion of both placements is subject to market conditions.

Cryoport, Inc. (NASDAQ: CYRX) announced its Q3 2021 financial results, showcasing record revenues of $56.7 million, a 407% increase year-over-year, driven by a 371% rise in Biopharma/Pharma revenue to $46.0 million. This growth is attributed to strong demand across all business units, supporting 582 clinical trials, and commercial revenue from regenerative therapies. Despite the revenue boom, gross margins decreased due to acquisitions and rising operational costs. The company has significant cash reserves of $349.5 million and remains optimistic about future growth opportunities.

Cryoport (NASDAQ: CYRX), a leader in temperature-controlled supply chain solutions, will report its third quarter 2021 financial results on November 4, 2021, after market close. Accompanying the results, a document titled 'Cryoport Third Quarter 2021 in Review' will be released at 4:05 PM ET. A conference call to discuss the results is scheduled for 5:00 PM ET on the same day. This call will include a Q&A session to address investor queries. The company supports critical cell and gene therapies and has been involved in numerous clinical trials globally.

Cryoport (NASDAQ: CYRX) has announced a multi-year strategic alliance with Mitsubishi Logistics Corporation to establish a regenerative medicine supply chain in Japan. This partnership aims to enhance logistics capabilities for specialty cell and gene therapies requiring strict temperature controls. By leveraging each other’s networks, both companies seek to improve operational performance and meet increasing demand in the Asia-Pacific region. As of June 30, 2021, Cryoport supported 561 global clinical trials, with a growing presence in the APAC region.

Cryoport, Inc. (NASDAQ: CYRX) reported a record total revenue of $56.2 million for Q2 2021, an impressive growth of 498% year-over-year. The Biopharma/Pharma segment saw a staggering 431% increase, driven by contributions from MVE Biological Solutions and increased clinical trial support, now at 561 trials. Operating costs rose to $29.2 million, affecting gross margin which was at 45.2%. Despite a net loss of $5.4 million, the company recorded an Adjusted EBITDA of $5.9 million, a significant improvement over the previous year.

Cryoport, Inc. (NASDAQ: CYRX) will announce its second-quarter financial results for the period ending June 30, 2021, on August 5, 2021, after U.S. markets close. Along with the earnings, a detailed review of the company's financial and operational performance will be released at 4:05 PM ET on the same day. A conference call for investors is scheduled for 5:00 PM ET that day, allowing for a Q&A session. Cryoport specializes in temperature-controlled supply chain solutions for the life sciences industry, serving various markets globally.

Cryoport, Inc. (NASDAQ: CYRX) announced its partnership with Cellenkos, a clinical-stage biotechnology company, to provide logistics solutions for COVID-19 therapy shipments. Cryoport will deliver its Cryoport Express® Shippers weekly to Cellenkos' facility in Houston, Texas, ensuring same-day or next-day delivery to patients. The collaboration includes comprehensive tracking and support from Cryoport Systems, CRYOPDP, and CRYOGENE. This partnership aims to enhance the delivery of cell-based therapies for COVID-19 ARDS, demonstrating Cryoport's commitment to innovative temperature-controlled supply chain solutions.

Cryoport, Inc. (CYRX) has announced the opening of a new Global Logistics Center in Singapore, aimed at expanding its presence in the Asia Pacific region. This facility enhances capabilities for temperature-controlled supply chain solutions, following the establishment of a similar center in Osaka, Japan, in late 2020. By March 31, 2021, Cryoport supported 543 clinical trials globally, with 28 in the APAC area. Partnerships with companies like Lonza are driving demand for medical therapies, solidifying Cryoport's strategic position in this growing market.