Welcome to our dedicated page for Maxcyte news (Ticker: MXCT), a resource for investors and traders seeking the latest updates and insights on Maxcyte stock.
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 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.
MaxCyte, Inc., (NASDAQ: MXCT) announced a strategic partnership with LG Chem on July 12, 2022, under which LG Chem will leverage MaxCyte's Flow Electroporation® technology and ExPERT™ platform to enhance its T-cell therapy candidates for solid tumors. This licensing agreement grants LG Chem clinical and commercial rights in exchange for licensing fees and revenue sharing. The partnership aims to bolster LG Chem's anti-cancer initiatives, particularly the CAR-T treatment currently in pre-clinical development.
On May 10, 2022, MaxCyte, Inc. (NASDAQ: MXCT) granted stock options for 73,700 shares to six newly hired employees as part of their 2021 Inducement Plan. The options have a ten-year term with an exercise price of $4.81 per share, equal to the stock's closing price on the grant date. These options will vest over four years, with 25% vesting after 12 months, subject to continued employment. MaxCyte focuses on cell-engineering technologies to support cell-based research and therapies, leveraging its proprietary Flow Electroporation platform.
MaxCyte reported a remarkable 78% increase in total revenue for Q1 2022, reaching $11.6 million, driven by a 48% growth in core revenues. Revenue from cell therapy customers rose by 57%, while drug discovery saw a 23% increase. Additionally, the company has raised its revenue guidance for 2022, expecting core business revenue growth of at least 25% and approximately $4 million in SPL Program-related revenue. Operating expenses increased, but the net loss reduced to $4.1 million from $7.1 million year-over-year.
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.