Scorpius Holdings Stock Price, News & Analysis

Scorpius Holdings (NYSE American: SCPX) has announced a delay in its previously announced public offering. The company has received approval from NYSE for a financial viability exception to shareholder approval rules, allowing it to proceed with an underwritten public offering. Scorpius intends to offer 12,500,000 shares of common stock (or pre-funded warrants) at $1.00 per share. The previous underwriting agreement was terminated, and a new one will be entered if the offering is consummated. The closing is intended to occur ten days after notifying shareholders. Proceeds will fund working capital and general corporate purposes. ThinkEquity is the sole book-running manager. A registration statement has been filed with the SEC and became effective on August 6, 2024.

Scorpius Holdings (NYSE American: SCPX), a contract development and manufacturing organization (CDMO), has announced the removal of its NYSE American trading suspension. The company's common stock is expected to resume normal trading on August 2, 2024, under the symbol 'SCPX'.

The NYSE Regulation staff has withdrawn its delisting determination after confirming that Scorpius' stock is now trading above the low selling price threshold defined in Section 1003(f)(v) of the NYSE American Company Guide. This development allows Scorpius to maintain its listing on the NYSE American exchange.

Scorpius Holdings specializes in rapidly advancing biologic and cell therapy programs, offering analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its facilities in San Antonio, Texas.

Scorpius Holdings (NYSE American: SCPX) has announced plans to launch its first cGMP mammalian manufacturing campaign at its San Antonio facility in Q3 2024. This milestone expands the company's biomanufacturing capabilities, particularly in mammalian cell culture production for advanced biopharmaceuticals. The launch follows the initiation of cGMP activities in Scorpius' microbial facilities, opening additional revenue streams for its CDMO operations.

CEO Jeff Wolf highlighted the rapid progress, noting that the mammalian facilities became operational in less than two years. The company's focus is on providing personalized attention and flexibility to clients, with cleanrooms featuring mobile equipment for customized configurations. Scorpius has already secured bookings for additional cGMP activities in the mammalian building for 2025, indicating strong demand for its expanded capabilities.

Scorpius Holdings (NYSE American: SCPX) has successfully executed its first current Good Manufacturing Practice (cGMP) microbial batches at its San Antonio facility. This milestone marks the beginning of Scorpius' support for manufacturing programs through clinical manufacturing, with potential for future commercial activities. The company has attracted significant interest, resulting in a substantial backlog of client program bookings.

CEO Jeff Wolf emphasized that this achievement demonstrates Scorpius' robust systems and commitment to U.S.-based cGMP activities. The company is poised to execute additional cGMP activities throughout the remainder of the year, reinforcing its position as a leader in clinical scale microbial manufacturing.

Scorpius Holdings (NYSE American: SCPX) has announced a 1-for-200 reverse stock split of its common stock, effective July 17, 2024, at 11:01 PM Eastern Time. The company's stock will begin trading on the OTC Markets on July 18, 2024, under the same ticker symbol 'SCPX' but with a new CUSIP number. This decision aims to increase the stock's selling price to regain compliance with NYSE American requirements, although success is not guaranteed.

The reverse split was approved by shareholders at the Annual Meeting on July 15, 2024. Stockholders' ownership percentages will remain unchanged, except for fractional shares. Scorpius Holdings is an integrated contract development and manufacturing organization (CDMO) specializing in biologic and cell therapy programs.

Scorpius Holdings (NYSE American: SCPX) has received a delisting notice from NYSE American due to its low-selling stock price, under Section 1003(f)(v) of the NYSE American Company Guide. The company plans to appeal the decision to the Exchange's Listing Qualifications Panel, though success is not guaranteed. CEO Jeff Wolf expressed disagreement with the ruling, citing recent positive developments. Scorpius Holdings operates as a CDMO, focusing on biologic and cell therapy programs, offering a range of analytical testing, process development, and manufacturing services from its facilities in San Antonio, Texas.

Scorpius Holdings (NYSE American: SCPX), a contract development and manufacturing organization (CDMO), has formed a strategic partnership with Beyond Imagination, a developer of autonomous AI-powered humanoid robots. The collaboration aims to enhance biomanufacturing productivity and efficiency through the integration of AI robotics, which can operate 24/7 and share knowledge via Beyond’s Hive Mind capability. This initiative addresses challenges in biomanufacturing due to increased demand and labor shortages, aiming to improve scalability and preparedness for crises like pandemics. Key figures like Ray Kurzweil and Elon Musk have endorsed the potential impact of humanoid robots on industry transformation.

Scorpius Holdings (NYSE American: SCPX) reported a 359% year-over-year increase in revenue for Q1 2024, reaching $3.5 million, compared to $0.8 million in Q1 2023.

The jump is attributed to expanded biomanufacturing operations and service offerings. Operating expenses were reduced by 34%, and net loss decreased by 64%, from $12.8 million to $4.4 million.

Key reductions included a $2.4 million drop in R&D expenses and a $1.5 million decrease in SG&A expenses. The company noted a growing revenue backlog of $10.8 million as of March 31, 2024.

Scorpius also raised $6.0 million through a public offering in May 2024, and held $1.7 million in cash and short-term investments at the end of Q1 2024.

Scorpius Holdings (NYSE American: SCPX) has announced a major expansion in San Antonio, Texas, with the opening of a new state-of-the-art storage and testing facility. This expansion significantly increases their warehouse space from ~3,000 to ~22,000 square feet, addressing the growing demand for their biomanufacturing services.

The facility, designed to meet or exceed industry standards, includes specialized storage areas with temperatures between -20°C and -80°C, designated spaces for contained sampling, quality control testing, and bulk drug substance storage. The new facility will also feature a robust stability program, enhancing Scorpius' service offerings and creating a new revenue stream.

CEO Jeff Wolf highlighted the facility's role in providing clients with continuity through their supply chain and supporting their needs from process development to drug substance release.