Cryo-Cell International Inc. - CCEL STOCK NEWS

Cryo-Cell International, Inc. (CCEL) has announced a special cash dividend of $0.90 per share for shareholders of record as of September 2, 2022. The decision reflects the Board's commitment to reward long-term investors while advancing its cellular therapies using cord blood and tissue. Founded in 1989, Cryo-Cell is renowned as the first private cord blood bank and has handled over 500,000 samples globally. The company also engages in clinical applications and has partnered with Duke University for public banking.

Cryo-Cell International, Inc. (CCEL) will transition its stock listing from the Nasdaq Capital Market to the NYSE American on August 30, 2022. Chairman David Portnoy believes this move will enhance trading liquidity for shareholders. The last trading date on Nasdaq is expected to be August 29, 2022. Founded in 1989, Cryo-Cell is renowned for being the first private cord blood bank, with over 500,000 parents utilizing its services globally. The company holds numerous accreditations and a partnership with Duke University, emphasizing its commitment to advanced cellular therapies.

Cryo-Cell International, Inc. (CCEL) reported a revenue increase of 6% in Q2 fiscal 2022, reaching $7.63 million compared to $7.21 million in Q2 fiscal 2021. Processing and storage fees accounted for $7.48 million. However, net income fell to $634,719 ($0.08 per basic share) from $1.17 million ($0.15 per basic share) year-over-year, driven by a 24% rise in selling, general, and administrative expenses. The company continues to enhance its services and expand its operations, including the launch of ExtraVault for biostorage.

Cryo-Cell International, Inc. (CCEL) reported financial results for the first quarter of fiscal 2022, ending February 28. Revenue increased to $7.26 million, up from $6.86 million year-over-year. Processing and storage fees accounted for $7.12 million of this total. Net income rose to approximately $832,000 or $0.10 per share, compared to $694,000 in the previous year. The company continues to focus on expanding its cellular therapy initiatives while managing costs effectively, despite a slight decrease in public banking revenue.

Cryo-Cell International (CCEL) has signed a purchase contract for a new 56,000 sq ft facility in the Research Triangle, NC, to enhance its cryopreservation services. This facility will support the launch of ExtraVault, aimed at providing biorepository services to biopharmaceutical companies. The company has over 30 years of experience in biological specimen handling and plans to implement a robust inventory management system. Cryo-Cell’s mission focuses on premier cryopreservation and cellular therapies, with a strong commitment to quality and innovation in the healthcare sector.

Cryo-Cell International, Inc. (CCEL) has issued its 2021 Annual Letter to shareholders, highlighting a cash flow of $7.9 million and a revenue decline to $28.9 million, down from $31.1 million in 2020. The net income also decreased to $2.1 million. Factors affecting performance included a drop in U.S. birth rates due to Covid-19, industry price pressures, and loss of a significant licensing agreement in India. Looking forward, the company plans to open a cellular therapy institute and has proposed the acquisition of a facility in Durham, NC for various operational expansions.

Cryo-Cell International (CCEL) reported fiscal 2021 results, revealing a decline in revenues to $28.9 million, down from $31.1 million in 2020. Processing and storage fees accounted for $28.4 million, while net income fell to $2.1 million ($0.26 per basic share), down from $3.6 million in the previous year. The company faced a 7% revenue drop and increased operational expenses. Notably, an impairment charge of $1.2 million was recorded due to changes in inventory recovery estimates. While the company continues its legacy as a leading cord blood bank, these results may raise concerns among investors.

Cryo-Cell International has announced plans for its Institute for Cellular Therapies after securing an exclusive license from Duke University. This partnership provides commercial rights to a range of FDA regulatory data and intellectual property related to cord blood and cord tissue-derived cell therapies that passed Phase 1/Phase 2 trials. The company aims to conduct further Phase 2 and Phase 3 trials focusing on conditions like hypoxic ischemic encephalopathy, cerebral palsy, and autism. Successful trials could lead to FDA licensure and commercialization.

On October 15, 2021, Cryo-Cell International (CCEL) reported Q3 2021 results, showing revenue of $7.5 million, an 8% decline from $8.1 million in Q3 2020. Processing and storage fees contributed $7.3 million. Net income was $857,000 ($0.10 per share), up from $784,000 in the prior year. Expenses increased, primarily due to costs related to the Cryo-Cell Institute and patent expenses. Despite revenue decline, the company emphasized solid results amid its transition to a vertically integrated cellular therapy entity.