BioLife Solutions Inc. - BLFS STOCK NEWS

BioLife Solutions, Inc. (Nasdaq: BLFS) announced the approval of Grant Thornton LLP as its new independent registered public accounting firm, effective April 6, 2022. This decision comes after the Audit Committee dismissed its previous auditor following a proposal process for the fiscal year ending December 31, 2022. The company filed a Form 8-K detailing these changes, indicating a strategic move to bolster its financial oversight as it continues to provide innovative bioproduction solutions for the cell and gene therapy markets.

BioLife Solutions (Nasdaq: BLFS) announced it received a notice from Nasdaq for failing to timely file its Annual Report on Form 10-K for the year ended December 31, 2021. The notice indicates non-compliance with Nasdaq's listing rules. BioLife's CFO, Troy Wichterman, stated that they intend to file the Form 10-K by March 31, 2022, which may help regain compliance. The company has 60 days from the notice to submit a compliance plan, with a potential extension of up to 180 days if accepted. However, there is no guarantee that Nasdaq will accept the plan.

BioLife Solutions, Inc. (Nasdaq: BLFS) announced an additional delay in filing its Annual Report on Form 10-K for the year ended December 31, 2021. The CFO, Troy Wichterman, stated that they are working diligently to complete the report, aiming to file it by March 31, 2022. This delay raises concerns about compliance with regulatory obligations. BioLife Solutions specializes in bioproduction products and services for cell and gene therapies and broader biopharma markets.

BioLife Solutions (BLFS) has announced growth expectations for its SciSafe biostorage services platform, highlighting the booming outsourced biostorage market. Three key growth catalysts include securing new long-term contracts with East coast and Mid-Atlantic clinical centers, plans to open a new US-based biorepository, and a co-marketing agreement with a research institute. The global biostorage services market is projected to grow from $428 million in 2021 to $900 million by 2029. Revenue guidance for 2022 is set between $159.5 million and $171 million, reflecting strong year-over-year growth.

BioLife Solutions, a key player in bioproduction for cell and gene therapies, has announced that its leadership team, including CEO Mike Rice, COO Rod de Greef, and CFO Troy Wichterman, will present at two major investor conferences in March 2022. The first is the Cowen 42nd Annual Health Care Conference on March 9, and the second is the KeyBanc Life Sciences & MedTech Forum on March 23. These events will showcase BioLife's innovations and strategies in the biopharma market.

BioLife Solutions (BLFS) reported strong financial results for Q4 and full year 2021, achieving a record revenue of $37.3 million in Q4, up 153% year-over-year, and $119.2 million for the year, a 148% increase. The company expects 2022 revenue guidance between $159.5 million and $171 million, reflecting a growth of 34% to 44%. Key drivers include increased customer acquisition and demand for biopreservation media. However, gross margins declined significantly due to product mix and operational issues following recent acquisitions.

BioLife Solutions, Inc. (NASDAQ: BLFS) will release its fourth quarter and full year 2021 financial results after market close on February 28. A conference call will follow at 4:30pm ET to discuss the financial results and provide a business update. Investors can access the webcast on the company's Investor Relations page. BioLife Solutions specializes in bioproduction tools and services for cell and gene therapy and broader biopharma markets.

BioLife Solutions (BLFS) reported preliminary revenue results for Q4 and FY 2021, indicating significant growth. Q4 revenue reached $37.3 million, up 153% from $14.7 million in Q4 2020. The total FY 2021 revenue was $119.1 million, a 148% increase from FY 2020's $48.1 million. Key contributors included an 81% growth in Cell Processing and a 389% rise in Storage & Services. Organic revenue rose 64% in Q4 and 37% for the year. CEO Mike Rice expressed optimism for continued growth in 2022, supported by strong demand and successful integration of recent acquisitions.

BioLife Solutions (BLFS) announced an extended collaboration with Seattle Children's Therapeutics to enhance biopreservation practices and closed-system manufacturing for cell therapy. The partnership will implement Sexton's AF-500 for viral vector delivery, utilized in Seattle Children's new VectorWorks facility. This system will automate the filling and sealing of vials to increase throughput and reduce contamination risks. BioLife's ongoing support with CryoStor's cGMP freeze media underscores the commitment to improving pediatric treatment processes and is seen as vital for advancing cell and gene therapies.