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MaxCyte, Inc. reports news on its cell-engineering technology business for biotechnology and pharmaceutical customers developing next-generation cell therapeutics. Company updates center on Flow Electroporation technology, ExPERT instruments, SeQure gene editing assessment services, and Strategic Platform License relationships that can generate product, license, research, clinical and program-related revenue.
Recurring developments include quarterly and annual financial results, revenue guidance, installed instrument activity, licensed customer programs, product launches such as ExPERT DTx for high-throughput electroporation, and corporate governance matters including executive appointments and equity compensation grants.
MaxCyte, a prominent commercial cell-engineering company, announced its participation in two upcoming investor conferences. The events include a presentation at the Bank of America 2022 Healthcare Conference on May 11 at 4:40 p.m. PT and a fireside chat at the William Blair 42nd Annual Growth Stock Conference on June 8 at 9:20 a.m. CT. Live and archived webcasts will be accessible on MaxCyte's investor relations website.
The company specializes in advanced cell-based research and has developed innovative platforms, such as the Flow Electroporation technology, to support cell therapy markets.
MaxCyte, Inc. (NASDAQ: MXCT) announced it will release its Q1 2022 financial results on May 9, 2022, after U.S. market close. A conference call with management is scheduled for 4:30 PM ET to discuss these results. The company specializes in cell-engineering technologies, including its proprietary Flow Electroporation® and ExPERT™ platforms, designed for the cell therapy market. This announcement sets the stage for financial insights and potential updates on growth in cell-based therapies.
MaxCyte, a leading cell-engineering company, announced on April 11, 2022, that it granted stock options for a total of 554,000 shares to newly hired employees, including 500,000 shares to Cenk Sumen, the new Chief Scientific Officer. The options, issued under the 2021 Inducement Plan, have a ten-year term with an exercise price of $5.67 per share, matching the stock's closing price on the grant date. Vested shares will occur over four years, contingent upon continued employment.
MaxCyte, Inc. (NASDAQ: MXCT) announced the resignation of Amanda Murphy as Chief Financial Officer effective April 15, 2022. Ron Holtz, current Senior Vice President and Chief Accounting Officer, will serve as Interim CFO. MaxCyte expects first-quarter revenue to be at least $11.0 million, a significant increase from $6.5 million year-over-year. Additionally, core business revenue is anticipated to reach $9.0 million. Murphy will assist during the transition, while Sean Menarguez is promoted to Director, Investor Relations.
MaxCyte reported fourth quarter and full year 2021 results, showcasing record revenues of $10.2 million for Q4 and $33.9 million for the year, reflecting growth of 19% and 30%, respectively. Core business revenues surged by 37%, driven by a 43% increase from cell therapy customers. The company anticipates 2022 revenue growth of 22% to 25% over 2021, with SPL Program-related revenue projected at $4 million. Operating expenses rose to $48.4 million, leading to a net loss of $19.1 million for 2021. Cash reserves stood at $255 million as of year-end.
MaxCyte has appointed Cenk Sumen, Ph.D., as the new Chief Scientific Officer (CSO), effective March 9, 2022. Dr. Sumen brings a wealth of experience in scientific innovation and technology development, having previously served as CTO at Stemson Therapeutics. MaxCyte is a pioneering cell-engineering company dedicated to advancing cell-based research and therapies with its Flow Electroporation® technology. CEO Doug Doerfler expressed enthusiasm for Dr. Sumen's strategic vision, which aims to enhance MaxCyte’s position in the growing cell therapy market.
MaxCyte, Inc. (NASDAQ: MXCT) will release its fourth quarter and full year 2021 financial results on March 22, 2022, after U.S. market close. A conference call is scheduled for 4:30 p.m. Eastern Time to discuss the results. The company, recognized for its proprietary Flow Electroporation® platform, is focused on advancing cell-based research and the cell therapy market with its ExPERT™ platform. This technology supports various stages of cell therapeutic development and commercialization.
MaxCyte, a leader in cell-engineering technology, announced its participation in several upcoming virtual investor conferences. Key events include the BIO CEO & Investor Conference on February 15, the BTIG MedTech event on February 17 at 3:00 p.m. ET, and the Cowen Annual Healthcare Conference on March 7 at 9:50 a.m. ET. The company will provide live and archived webcasts of these presentations on its investor relations website. MaxCyte's technologies aim to enhance cell-based research and support the growing cell therapy market.
MaxCyte, a commercial cell-engineering company, has granted stock options for 204,500 shares to eight new employees as part of its 2021 Inducement Plan. This move, effective from February 10, 2022, aligns with Nasdaq rules and aims to incentivize talent acquisition. Each option has a ten-year term with an exercise price of $6.54, matching the stock's closing price on the grant date. Vesting occurs over four years, with 25% available after the first year. This initiative underscores MaxCyte's commitment to enhancing its workforce to drive next-generation cell-based medicine advancements.
MaxCyte has signed a strategic platform license with Intima Bioscience, a biotechnology company focused on cell therapies for solid tumors. This agreement grants Intima access to MaxCyte’s Flow Electroporation® technology and ExPERT™ platform, aimed at enhancing the development of its checkpoint cell therapy targeting CISH in gastrointestinal and colon cancers. MaxCyte will receive licensing fees and milestone payments from Intima. This partnership marks MaxCyte's 16th such collaboration, further expanding its technology's application in the cell therapy market.