10th May 2022 12:01
MaxCyte Inc - Gaithersburg, Maryland-based platform for cell-based research - Says is pleased with positive start to 2022 with "very strong" first-quarter results. For three months to March 31, posts net loss USD4.1 million, narrowed from USD7.1 million last year on revenue of USD11.6 million, up 78% from USD6.5 million. Generates total of USD2.0 million in Strategic Platform License program-related revenue in the first quarter of 2022, compared to immaterial SPL program-related revenue in the first quarter of 2021. For 2022, expects core business revenue to grow at least 25% compared to 2021 core business revenue. It also continues to expect SPL program-related revenue to be around USD4 million in 2022.
"We are pleased with this positive start to 2022 at MaxCyte, with very strong first-quarter results, including 48% year-over-year core business revenue growth driven by ongoing significant growth in sales to cell therapy customers. We are encouraged by the continued expansion of our portfolio of SPLs with the addition of Intima Bioscience, our sixteenth SPL, as well as the exciting clinical progress of our existing SPL partners. The milestone revenue recorded over the period reflects the progress being made by our partners in early and mid-stage clinical development programs," said Chief Executive Officer Doug Doerfler.
Current stock price: 406.13 pence, up 3.5% on Tuesday
12-month change: down 55%
By Arvind Bhunjun; [email protected]
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