Maxcyte Stock Price, News & Analysis

MaxCyte, Inc. (NASDAQ: MXCT) expects fourth quarter 2021 revenue to exceed $10 million, up 17% from Q4 2020, with full year revenue anticipated above $33.7 million, marking a 28% increase from 2020. The company reports over 500 instruments installed and 15 Strategic Platform Licenses (SPLs), enabling over 95 programs, with 15% in clinical stages. MaxCyte's SPLs could lead to over $1.25 billion in precommercial revenue potential. CEO Doug Doerfler highlighted significant achievements in 2021, including a successful IPO and organic growth in core business.

MaxCyte, a commercial cell-engineering company, announced its participation in several investor conferences. The events include the Consilium Strategic Communications 9th Annual Healthcare Conference on November 15, 2021, Stifel 2021 Virtual Healthcare Conference on November 16, and Stephens Annual Investment Conference on November 29. Each session will feature discussions led by company management. Live and archived webcasts will be available on MaxCyte's investor relations website.

MaxCyte reported a strong third quarter for 2021 with total revenue of $10.1 million, reflecting a 50% increase compared to Q3 2020. Revenue from cell therapy customers rose 38% to $6.2 million, while Strategic Platform License (SPL) revenue reached a record $2.0 million. Operating expenses increased to $11.6 million, primarily due to higher compensation and professional service costs. The company projects at least $33.0 million in revenue for FY 2021, up from earlier guidance of $30 million. Net loss for Q3 was ($2.7) million compared to ($3.1) million in 2020.

MaxCyte, a leader in cell-engineering, announces the appointment of Richard Douglas, PhD, as Chair of the Board, succeeding J. Stark Thompson, PhD, who will remain a consultant. Douglas, a board member since 2018, brings extensive experience from roles at RedSky Partners, Aldeyra Therapeutics, and Novavax. His leadership follows a pivotal period marked by the company's first U.S. public offering. CEO Doug Doerfler praised Douglas for his valuable contributions and the foundation laid by Thompson, emphasizing the company’s strong position in the expanding cell therapy market.

MaxCyte, a leader in cell-engineering, announced that all resolutions at its Annual General Meeting on October 29, 2021, were passed, except for Proposal 2 concerning the 2021 Equity Incentive Plan. The company focuses on advancing cell-based research and next-generation cell therapies through its proprietary Flow Electroporation® platform, which supports the expansive cell therapy market. MaxCyte's ExPERT™ platform includes a range of instruments and software aimed at facilitating the development of innovative cell-based medicines.

MaxCyte has entered into a strategic platform license agreement with Nkarta, allowing Nkarta to utilize MaxCyte's Flow Electroporation® technology and ExPERT™ platform for developing oncology cell therapies. This collaboration aims to enhance the efficacy of allogeneic NK cells in treating cancer. MaxCyte will receive platform licensing fees and milestone payments. The ExPERT™ platform is designed for scalable cell engineering, supporting the growing cell therapy market. This partnership marks MaxCyte's 15th strategic license agreement this year.

MaxCyte, a commercial cell-engineering firm, will announce its Q3 2021 financial results on November 10, 2021, after U.S. market close. The management will host a conference call at 4:30 p.m. ET to discuss results. With 20 years of experience, MaxCyte offers proprietary Flow Electroporation technology for cell engineering, supporting the growing cell therapy market with its ExPERT platform, including various instruments and software protocols. This information is crucial for shareholders and potential investors in gauging financial performance and future growth prospects.

MaxCyte, a cell-engineering company, will be added to the Russell 3000® and Russell 2000® indices effective September 20, 2021. This inclusion enhances the company's visibility among investors and follows its successful Nasdaq IPO in August. The Russell 3000® Index features companies based on market capitalization and style attributes, ensuring that MaxCyte’s membership underscores its strong financial profile. The company specializes in providing technologies for cell-based research and therapeutic development, notably through its proprietary Flow Electroporation® platform.

MaxCyte, Inc. (NASDAQ: MXCT) reported its Q2 2021 financial results, showcasing a 38% revenue increase to $7.1 million year-over-year. Revenue from cell therapy grew 59% to $4.8 million, while drug discovery revenue surged 60% to $1.8 million. Gross profit stood at $6.3 million, reflecting a 89% gross margin. However, the net loss widened to ($4.4) million from ($3.0) million in Q2 2020. Operating expenses rose to $10.7 million, driven by compensation and professional service costs. Despite challenges, the company anticipates total revenue around $30 million for fiscal year 2021.