Welcome to our dedicated page for Cryo-Cell Intl news (Ticker: CCEL), a resource for investors and traders seeking the latest updates and insights on Cryo-Cell Intl stock.
Cryo-Cell International Inc (CCEL) delivers pioneering solutions in stem cell preservation and cellular therapy research. This dedicated news hub provides investors and industry stakeholders with timely updates on the company’s operational milestones, scientific advancements, and strategic initiatives.
Access verified press releases covering quarterly earnings, regulatory developments, and technology innovations like the PrepaCyte CB processing system. Our curated updates include partnership announcements, clinical trial progress, and market expansion efforts within the $4.7B global cord blood banking sector.
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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.
Cryo-Cell International, Inc. (Nasdaq:CCEL) has appointed Mark Portnoy and Daniel Mizrahi to its Board of Directors, following the resignations of George Gaines and Jonathan Wheeler, M.D. Gaines retires while Wheeler steps down for health reasons. Both new appointees bring extensive experience, with Portnoy having previously served on the board and Mizrahi leading a manufacturing company in Guatemala. The board expects to enhance shareholder value, particularly after the recent NASDAQ uplisting and a transformative agreement with Duke University.
Cryo-Cell International, Inc. (CCEL) has announced its common stock is listed on the Nasdaq Capital Market as of August 31, 2021. This milestone marks an achievement in meeting Nasdaq's stringent requirements and aims to enhance liquidity and broaden the shareholder base. Chairman David Portnoy expressed optimism that this uplisting will reduce the valuation gap between market and intrinsic value. Cryo-Cell is transitioning into a biopharmaceutical company, providing experimental treatments at the upcoming Cryo-Cell Institute for Cellular Therapies.
Cryo-Cell International (CCEL) has acquired an 8,326 sq. ft. facility in Durham, NC, for its Institute for Cellular Therapies, strategically located near the Raleigh-Durham International Airport. The clinic aims to provide FDA-approved clinical trials for patients in need of cord blood therapies by early 2022. This facility will employ advanced technology and child-friendly layout while adhering to COVID safety guidelines. The treatments target various conditions, including autism spectrum disorders and cerebral palsy.
Cryo-Cell International, the world’s first cord blood bank, announced that Chairman and Co-CEO, David Portnoy, will present at the Q3 Virtual Investor Summit on August 18, 2021, at 2:45 PM EDT. The 30-minute session will include a 20-minute corporate overview followed by a 10-minute Q&A. In February 2021, Cryo-Cell transformed into a vertically integrated cellular therapy company through a license agreement with Duke University, set to treat patients at its first infusion clinic opening in early 2022. The event can be accessed via registration.
Cryo-Cell International, Inc. (CCEL) reported its fiscal Q2 2021 results with a revenue decrease of 8% to $7.21 million, down from $7.87 million in Q2 2020. The company generated $7.16 million in processing and storage fees. Net income rose to $1.17 million, or $0.15 per basic share, from $953,000, or $0.13 per basic share in the prior year. Cost reductions in sales and administrative expenses contributed to net income growth despite lower revenues. Cryo-Cell continues to expand its operations and maintain quality standards with FDA registration and AABB accreditation.
Cryo-Cell International is conducting two pivotal clinical studies: MASC for COVID-19 related Acute Respiratory Distress Syndrome and MISTIC for children with Multisystem Inflammatory Syndrome associated with COVID-19. MASC has completed Phase 1 and is enrolling for Phase 2, while MISTIC is in Phase 1 enrollment. Both studies utilize human cord tissue derived mesenchymal stromal cells. The ongoing research underscores Cryo-Cell's commitment to advancing regenerative medicine and improving patient outcomes amid the ongoing pandemic.
Cryo-Cell International, Inc. (OTC: CCEL) reported its fiscal first quarter results for 2021, citing revenues of $6.86 million, a decrease from $7.62 million in Q1 2020. The revenue comprised $6.74 million from processing and storage fees, $38,000 from product sales, and $84,000 from public banking. Net income was approximately $694,000, consistent with the prior year. The company is optimistic about future opportunities tied to its licensing agreement with Duke University, despite challenges posed by the COVID-19 pandemic affecting birth rates.
