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 (Nasdaq: MXCT) has announced a strategic platform license with Catamaran Bio, enabling the latter to use MaxCyte's Flow Electroporation® technology and ExPERT™ platform. This collaboration will enhance Catamaran's TAILWIND® platform for developing CAR-NK cell therapies targeting solid tumors. MaxCyte expects to receive licensing fees and program-related revenue as a result. This agreement marks MaxCyte's 19th strategic platform license and aims to advance innovative cell-based cancer treatments.
MaxCyte has signed a strategic platform license with Curamys for its Flow Electroporation® technology and ExPERT™ platform, enhancing Curamys’ cell fusion technology aimed at treating rare diseases like Duchenne muscular dystrophy and amyotrophic lateral sclerosis.
Under this non-exclusive agreement, MaxCyte will receive licensing fees and program-related revenue. Curamys aims to leverage this technology to further its global reach and improve treatment options for patients with genetic disorders.
MaxCyte reported a 22% year-over-year growth in core business revenue for Q3 2022, reaching $10.6 million, a 5% increase from the prior year. Revenue from cell therapy grew by 27%, while drug discovery revenues rose 4%. The company reaffirmed its 2022 revenue guidance for core business growth at approximately 30%. Total cash and short-term investments stood at $232.9 million as of September 30, 2022. Despite strong revenue growth, operating expenses increased significantly, contributing to a net loss of $6.4 million.
MaxCyte, focused on cell-engineering, announced participation in two upcoming investor conferences. The Stifel Healthcare Conference is scheduled for November 16, 2022, at 3:00 PM ET, followed by the Stephens Annual Investment Conference on November 17, 2022, at 10:00 AM ET. Webcasts of these events will be accessible on the company’s investor relations website. MaxCyte develops technologies for cell-based therapeutics, including its proprietary Flow Electroporation® technology and ExPERT™ platform, aimed at supporting the cell therapy market.
MaxCyte, a leading commercial cell-engineering company, announced it will release its financial results for Q3 2022 after the U.S. market close on November 9, 2022. The company will host a conference call at 4:30 p.m. ET to discuss the results. MaxCyte's proprietary Flow Electroporation platform enables advanced cell-based research and therapeutic development, supporting the rapidly growing cell therapy market. The ExPERT platform is integral to their offerings, which includes various instruments and a comprehensive intellectual property portfolio.
MaxCyte has signed a strategic platform license agreement with Vertex Pharmaceuticals to use its Flow Electroporation® technology and ExPERT™ platform for the development of exa-cel, a gene-edited therapy for hemoglobinopathies.
This collaboration allows Vertex to obtain clinical and commercial rights, while MaxCyte receives licensing fees and program-related revenue. Exa-cel aims to treat transfusion-dependent beta thalassemia and sickle cell disease, showcasing the effectiveness of MaxCyte's technology utilized in previous clinical developments.
MaxCyte, a leading cell-engineering company, has relocated its headquarters to a new 67,000 square-foot facility in Rockville, Maryland, enhancing its manufacturing capacity and research capabilities. This move reflects the company’s commitment to supporting the growth of cell-based therapies and aligns with Maryland's status as a significant biotech hub. With a focus on innovation in gene editing and immuno-oncology, MaxCyte aims to empower its partners in therapeutic development and commercialization.
MaxCyte, a leader in cell-engineering, announced its participation in the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 4:40 PM ET. The event will provide insights into the company's innovative cell-based research and cell therapeutic advancements. A live and archived webcast will be accessible on the MaxCyte investor relations website.
MaxCyte's Flow Electroporation® platform and ExPERT™ platform are pivotal in advancing cell therapies, enhancing capabilities from discovery through commercialization.
MaxCyte reported a strong second quarter 2022 with total revenue of $9.6 million, up 35% from Q2 2021, bolstered by a 61% increase in cell therapy revenues. Core business revenue growth guidance for 2022 has been raised to approximately 30%. The company incurred a net loss of $8.3 million, up from $4.4 million the previous year, and operating expenses rose to $17.2 million due to increased staffing and marketing costs. As of June 30, 2022, MaxCyte held $240.9 million in cash and equivalents. The SPL program is expected to generate around $4 million in revenue for the year.
MaxCyte, a leader in cell-engineering technology, plans to release its second-quarter 2022 financial results on August 10, 2022, post U.S. market close. Following the release, a conference call will be held at 4:30 p.m. ET to discuss the results. Investors can register for the call online, and a webcast will be available on MaxCyte's investor relations website. The company specializes in Flow Electroporation technology, supporting advancements in cell-based research and therapeutic discovery.