BioLife Solutions Inc. - BLFS STOCK NEWS

BioLife Solutions (BLFS) reported record first-quarter revenue of $16.8 million, a 39% increase from $12.2 million year-over-year. The company gained 80 new customers, including 16 for its biopreservation media. The acquisition of Global Cooling Inc. is expected to contribute $40 million to $42 million to 2021 revenue, increasing overall guidance to between $106 million and $115 million. However, the company posted an operating loss of $981,000 and a net loss of $1.1 million.

BioLife Solutions (NASDAQ: BLFS) will release its Q1 2021 financial results on May 13, 2021, after market close. Following this, a conference call and live webcast will be held at 4:30 p.m. ET for an overview of the financial results and a business update. Interested parties can access the webcast on the company’s Investor Relations page or via conference call. The company specializes in bioproduction products for cell and gene therapies and the broader biopharma market.

BioLife Solutions (BLFS) has completed the acquisition of Stirling Ultracold, issuing 6,646,870 shares for 100% of Stirling's outstanding shares. Expected revenue contribution from Stirling for 2021 is $35 million to $37 million, contributing to BioLife's total projected revenue of $101 million to $110 million. Stirling will supply 100 ultra-low temperature freezers to a leading CDMO, expanding their partnership. CEO Mike Rice anticipates cross-selling opportunities with BioLife's bioproduction tools, enhancing market reach in cell and gene therapies.

BioLife Solutions, a developer of bioproduction products, has launched a new line of high capacity controlled rate freezers (HCRF) aimed at cell therapy developers. The initial shipment targets a leading cell therapy company and supports their cold chain management for allogeneic cell therapies. The new freezers enhance BioLife's product line with features such as large volume freezing, quality assurance data management, and a touch screen controller. Expected gross margins for this product line are projected in the mid to high 50% range, with average selling prices between $450,000 and $750,000.

BioLife Solutions, Inc. (NASDAQ: BLFS) has appointed Amy DuRoss and Rachel Ellingson to its board of directors. DuRoss, CEO of Vineti, brings expertise in cell and gene therapy, while Ellingson, senior VP at Zimmer Biomet, adds significant M&A experience. Both directors will support BioLife's growth strategy and enhance shareholder value. DuRoss will serve on the Audit and Compensation committees, and Ellingson will be on the Compensation and Nominating and Governance committees. These appointments come at a crucial time for the company as it seeks to expand its position in the bioproduction market.

On March 22, 2021, Stirling Ultracold announced a definitive agreement to merge with BioLife Solutions (NASDAQ: BLFS), enhancing their position in the Gene and Cell Therapy markets. Backed by the Ohio Innovation Fund, Stirling's innovative Stirling engine technology has established it as a leader in energy-efficient ultra-low temperature biorepositories. With key personnel changes, including Dusty Tenney as President and COO of BioLife, the merger aims to accelerate growth and expand market reach.

Stirling Ultracold has entered a merger agreement with BioLife Solutions (NASDAQ: BLFS) to enhance offerings for biopharma and life sciences. The merger, set to close in Q2 2021, will preserve Stirling’s brand and staff while expanding its technology portfolio.

Stirling, known for its Energy Star™ certified ULT freezers, has over 80 patents, playing a crucial role in COVID-19 vaccine storage. Both companies expect synergies that will enhance ultracold storage solutions in various medical fields, facilitating faster pharmaceutical research and advanced treatment capabilities.

BioLife Solutions (BLFS) reported financial results for Q4 and the year ended December 31, 2020, showcasing a 78% revenue increase to $14.7 million, driven by strong sales across its portfolio. The company gained 213 new direct customers and projects total revenue in 2021 between $101 million to $110 million, reflecting growth of 110% to 129%. The gross margin declined to 50% from 57% YoY. Despite a net loss of $2.1 million in Q4 2020 compared to a net income of $3 million in Q4 2019, the acquisition of Stirling Ultracold is expected to enhance product offerings and revenue streams.

BioLife Solutions (NASDAQ: BLFS) announced a merger with Global Cooling, Inc., operating as Stirling Ultracold, for an all-stock transaction of 6,646,870 shares. This acquisition aims to enhance BioLife's position in the ultra-low temperature (ULT) freezer market, projected to reach nearly $800 million by 2027. Following the merger, BioLife anticipates exceeding $100 million in total GAAP revenue for 2021 and expects the transaction to be accretive to net income per share from 2022 onwards. BioLife reported a 76% revenue increase in 2020, totaling $48.1 million.