BioLife Solutions Inc. - BLFS STOCK NEWS

BioLife Solutions, Inc. (Nasdaq: BLFS) announced its selection for the BioSpace Best Places to Work in Biopharma 2023 Report, recognizing its commitment to workplace flexibility, inclusion, and employee engagement. Following nominations from over 2,000 biopharma professionals, BioLife ranked among the top 60 companies, highlighting its strong company culture driven by teamwork and respect. CEO Mike Rice emphasized the importance of team members as the company's key asset, celebrating this recognition amid a competitive recruitment environment.

BioLife Solutions reported a record revenue of $40.7 million for Q3 2022, a 21% increase from Q3 2021, with biopreservation media revenue soaring 50%. Cash flow from operations was $1.5 million, and adjusted EBITDA stood at $1.4 million. The company tightens its 2022 revenue guidance, projecting a 34% to 38% year-over-year growth, driven by strong demand in its Cell Processing segment. Despite challenges due to supply-chain issues, 44% of total revenue came from proprietary consumables, affirming BioLife’s leadership in cell and gene therapies.

BioLife Solutions (NASDAQ: BLFS) will release its third quarter 2022 financial results after market close on November 9, 2022. A conference call and live webcast are scheduled for 4:30 PM ET the same day, where management will share financial insights and a business update. Investors can access the conference via the company's Investor Relations page. BioLife Solutions specializes in bioproduction tools and services aimed at cell and gene therapies, positioning itself as a key player in the biopharma sector.

CSafe has joined BioLife Solutions' global partner network to enhance cold chain solutions for cell and gene therapy (CGT). This partnership aims to support 10,000-12,000 evo shipments within the next year, catering to CGT products at various developmental stages. CSafe, with over 50 service centers worldwide, has a proven track record in temperature-controlled shipping, including solutions for billions of COVID-19 vaccine doses. The collaboration is expected to improve reliability, security, and service for CGT partners.

BioLife Solutions (NASDAQ: BLFS) has announced that Roderick de Greef, President and COO, will retire and return to the Board of Directors effective January 3, 2023. De Greef has served with the company for 22 years, steering significant operational improvements, notably in the ULT freezer product line. Geraint Phillips, previously Vice President of Freezer Operations, will take on the role of Senior Vice President, Global Operations. This transition is aimed at ensuring the continuity of leadership and operational success as the company grows.

BioLife Solutions (NASDAQ: BLFS) appointed Timothy L. Moore to its board of directors, enhancing its leadership. Moore, a seasoned executive with over 30 years in biopharmaceutical manufacturing, previously served as President and COO of PACT Pharma and held key roles at Kite Pharma and Genentech. His expertise is expected to guide BioLife in optimizing its marketing strategies and operational efficiency in the cell and gene therapy sectors.

BioLife Solutions reported record revenue of $40.5 million for Q2 2022, a 30% increase year-over-year with organic growth of 44%. Revenue guidance for 2022 has been updated to $160 million to $166 million, reflecting a year-over-year growth of 34% to 39%. Adjusted EBITDA was $1.5 million compared to a loss of $814,000 in Q1. Despite operational challenges, the biopreservation media segment achieved 46% growth. However, a non-cash impairment charge impacted financial results significantly, leading to a $72.6 million net loss for Q2.

BioLife Solutions, a supplier of bioproduction tools for cell and gene therapies, will announce its second quarter 2022 financial results after market close on August 9, 2022. A conference call and live webcast are scheduled for 4:30 PM ET, where management will discuss the financial results and provide a business update. The webcast can be accessed via the Investor Relations page on BioLife's website.

BioLife Solutions (NASDAQ: BLFS) has announced the launch of its SciSafe biostorage services platform, featuring ultra-low temperature (ULT) truck trailers for local cold chain movements of biologic materials. This service aims to enhance operational flexibility and reduce risks in transporting high-value assets for life sciences companies. The fleet can handle temperatures as low as -196°C, supporting efficient transportation without dry ice. Guidance for 2022 revenue ranges from $21.5 million to $26 million for storage services, contributing to a total revenue expectation of $159.5 million to $171 million.