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CryoPort, Inc. (NASDAQ: CYRX) is a global leader in providing innovative and integrated temperature-controlled supply chain solutions specifically tailored for the life sciences industry. Specializing in biopharma/pharma, animal health, and reproductive medicine markets, CryoPort is recognized for delivering comprehensive outsourced solutions that enhance the safe transport of biological materials.
Established with a vision to revolutionize deep-frozen logistics, CryoPort integrates cutting-edge technology of liquid nitrogen dry vapor shippers with the most advanced logistics management platform. This combination significantly reduces the risk of cell degradation, surpassing outdated dry ice shipping methods. By offering a complete outsourced solution, CryoPort ensures that businesses in bio-pharmaceuticals, clinical trials, research, and reproductive medicine can focus on their core missions while CryoPort handles the logistics.
CryoPort operates globally across the Americas, Europe, the Middle East, Africa (EMEA), and Asia Pacific (APAC), with the majority of its revenue generated from the Americas. The company maintains 48 strategic locations worldwide, providing mission-critical bio-logistics, biostorage, bioprocessing, and cryogenic systems to life sciences markets.
Recent achievements include a strategic partnership with the Cell and Gene Therapy Catapult in Stevenage, U.K., aimed at enhancing the cell and gene therapy logistics. Additionally, CryoPort signed a three-year supply chain solutions agreement with Monash IVF Group, a leader in fertility services, and completed the acquisition of Tec4med Lifescience GmbH to expand its European market presence and offer advanced condition monitoring solutions.
Financially, CryoPort reported solid demand from key life sciences and cell and gene therapy customers despite global economic challenges. The company supported a record number of 675 global clinical trials by the end of 2023, demonstrating its crucial role in the clinical development and commercialization of cell and gene therapies.
With ongoing strategic initiatives such as the IntegriCell™ platform and the expansion of its supply chain center network, CryoPort aims to further solidify its position as a market leader. The company continues to invest in technology and infrastructure to support long-term growth, anticipating a significant increase in revenue from its life sciences services business in the coming years.
For more information, visit www.cryoport.com or follow @cryoport on X (formerly known as Twitter) at www.twitter.com/cryoport for live updates.
Cryoport, Inc. (Nasdaq: CYRX) provided an update on its New Prague facility, which experienced a fire on January 25, 2022. Production is expected to resume during the week of February 14, 2022, with the company anticipating a revenue impact of $4 to $5 million during the first quarter. Insurance is expected to cover most restoration costs. Cryoport is a leader in temperature-controlled supply chain solutions for life sciences, supporting various therapies and clinical trials globally.
Cryoport, Inc. (Nasdaq: CYRX) reported a fire incident on January 25, 2022, at its MVE Biological Solutions manufacturing facility in New Prague, Minnesota. The fire caused limited damage and no injuries were reported. Operations at the facility will be temporarily reduced until repairs are completed, which could affect financial results for Q1 and possibly Q2 of 2022. However, Cryoport expects insurance to cover a significant portion of the financial impact. The company continues to assess operations and will provide updates as necessary.
Cryoport (Nasdaq: CYRX) has announced a strategic partnership with Cell Matters to offer end-to-end cryopreservation services for therapies derived from leukapheresis, targeting both autologous and allogeneic cell therapies. This collaboration aims to enhance the supply chain for the life sciences industry and address the challenges faced by cell therapy manufacturers. Cryoport plans to expand its presence in the European market while continuously innovating its temperature-controlled solutions and consulting services to meet growing demand in regenerative therapies.
Cryoport, a leader in temperature-controlled supply chain solutions for life sciences, announced that CEO Jerrell Shelton and CFO Robert Stefanovich will present at the J.P. Morgan 40th Annual Healthcare Conference from January 10-13, 2022. Shelton's presentation is scheduled for January 12 at 9:00 a.m. ET. They will also engage in 1x1 virtual meetings during the conference. The presentation can be accessed via a webcast on the company’s website, with a replay available for 30 days.
Cryoport, Inc. (Nasdaq: CYRX) has announced the pricing of a private offering of $350 million in 0.75% convertible senior notes due 2026. The offering was increased from an initial $300 million. The notes, maturing on December 1, 2026, will accrue interest semi-annually and feature a conversion price of approximately $117.59 per share, offering a 45% premium over the last stock price of $81.10. Net proceeds are estimated at $339 million, aimed at repurchasing existing convertible notes and supporting general corporate purposes. The offering is set to close on November 12, 2021.
Cryoport, Inc. (NASDAQ: CYRX) announced a registered direct placement of 3,072,038 shares at $81.10 per share. The placement, estimated to generate $248.6 million in net proceeds, will conclude on November 12, 2021. Funds will be used to repurchase $100.7 million of its 3.00% Convertible Senior Notes, totaling approximately $351.1 million including interest. The placement is contingent upon the completion of a separate offering of $350 million of convertible senior notes due 2026. Completion risks and potential market impacts on trading prices are noted.
Cryoport, Inc. (Nasdaq: CYRX) announced its intention to offer $300 million of convertible senior notes due 2026 in a private offering. The company may grant initial purchasers an option for an additional $45 million of notes. The notes are senior and unsecured, maturing on December 1, 2026, and will pay interest semi-annually. Proceeds will be used to repurchase existing convertible notes and for general corporate purposes. The completion of the note offering is not contingent on a separate common stock placement, although the stock placement completion is dependent on the notes offering.
Cryoport, a leader in temperature-controlled supply chain solutions, plans to offer shares of its common stock through a registered direct placement. The number of shares and pricing will be determined based on market conditions. The company aims to use the net proceeds to repurchase a portion of its 3.00% Convertible Senior Notes due 2025 and for general corporate purposes. In a separate announcement, Cryoport intends to offer $300 million in aggregate principal of convertible senior notes due 2026. The completion of both placements is subject to market conditions.
Cryoport, Inc. (NASDAQ: CYRX) announced its Q3 2021 financial results, showcasing record revenues of $56.7 million, a 407% increase year-over-year, driven by a 371% rise in Biopharma/Pharma revenue to $46.0 million. This growth is attributed to strong demand across all business units, supporting 582 clinical trials, and commercial revenue from regenerative therapies. Despite the revenue boom, gross margins decreased due to acquisitions and rising operational costs. The company has significant cash reserves of $349.5 million and remains optimistic about future growth opportunities.
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