10th Aug 2022 22:01
MaxCyte Inc - Gaithersburg, Maryland-based platform for cell-based research - Says second quarter revenue grew 35% year-on-year to USD9.6 million from USD7.1 million, "driven by strong growth in the cell therapy market; core business revenues grew 45% led by revenue from cell therapy customers which increased 61%, with drug discovery revenues growing by 4%", the firm says. Net loss for the quarter widens to USD8.3 million from US4.4 million. For the first half as a whole, revenue rises 56% year-on-year to USD21.2 million from USD13.6 million, as net loss widens slightly to USD12.3 million from USD11.5 million. Expects core business revenue in full year to grow approximately 30%. Continues to expect SPL Program-related revenue to be around USD4 million for the year. Says is making investments to drive revenue growth, and expand applications for its technology.
"Overall, our optimism about the potential for the development programs covered by our existing partners to generate growing revenue in both pre-clinical research and clinical progress remains high. Our ExPERT™ platform continues to be used to enable a broad range of cell types and approaches targeting a wide array of indications, and its adoption is increasing within the industry," says Chief Executive Officer Doug Doerfler.
Current stock price: 445.00 pence
12-month change: down 57%
By Elizabeth Winter; [email protected]
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