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Scorpius Holdings, Inc. announced the appointment of Shari Udoff-McDonald as VP of Business Development. With over 25 years of experience in biopharma business development, she will lead the business development, marketing, and proposals teams to address the strong demand for flexible mammalian and microbial biomanufacturing services. Scorpius is poised for growth with its commitment to transparency and flexibility in CDMO partnerships.
Scorpius Holdings, Inc provided a 2023 year-end business update highlighting a 570% sequential revenue increase in the fourth quarter of 2023. The company reported $4.8 million in revenue from continuing operations, leading to a positive outlook for significant growth in 2024 and beyond. Scorpius aims to capitalize on the growing large molecule drug substance CDMO market, anticipating becoming cash flow positive by early 2025. The company's financial results showed $6.6 million in contract revenue for 2023, along with increased costs and expenses compared to the previous year.
