CryoPort, Inc. - CYRX STOCK NEWS

Cryoport (NASDAQ: CYRX) has announced a multi-year strategic alliance with Mitsubishi Logistics Corporation to establish a regenerative medicine supply chain in Japan. This partnership aims to enhance logistics capabilities for specialty cell and gene therapies requiring strict temperature controls. By leveraging each other’s networks, both companies seek to improve operational performance and meet increasing demand in the Asia-Pacific region. As of June 30, 2021, Cryoport supported 561 global clinical trials, with a growing presence in the APAC region.

Cryoport, Inc. (NASDAQ: CYRX) reported a record total revenue of $56.2 million for Q2 2021, an impressive growth of 498% year-over-year. The Biopharma/Pharma segment saw a staggering 431% increase, driven by contributions from MVE Biological Solutions and increased clinical trial support, now at 561 trials. Operating costs rose to $29.2 million, affecting gross margin which was at 45.2%. Despite a net loss of $5.4 million, the company recorded an Adjusted EBITDA of $5.9 million, a significant improvement over the previous year.

Cryoport, Inc. (NASDAQ: CYRX) will announce its second-quarter financial results for the period ending June 30, 2021, on August 5, 2021, after U.S. markets close. Along with the earnings, a detailed review of the company's financial and operational performance will be released at 4:05 PM ET on the same day. A conference call for investors is scheduled for 5:00 PM ET that day, allowing for a Q&A session. Cryoport specializes in temperature-controlled supply chain solutions for the life sciences industry, serving various markets globally.

Cryoport, Inc. (NASDAQ: CYRX) announced its partnership with Cellenkos, a clinical-stage biotechnology company, to provide logistics solutions for COVID-19 therapy shipments. Cryoport will deliver its Cryoport Express® Shippers weekly to Cellenkos' facility in Houston, Texas, ensuring same-day or next-day delivery to patients. The collaboration includes comprehensive tracking and support from Cryoport Systems, CRYOPDP, and CRYOGENE. This partnership aims to enhance the delivery of cell-based therapies for COVID-19 ARDS, demonstrating Cryoport's commitment to innovative temperature-controlled supply chain solutions.

Cryoport, Inc. (CYRX) has announced the opening of a new Global Logistics Center in Singapore, aimed at expanding its presence in the Asia Pacific region. This facility enhances capabilities for temperature-controlled supply chain solutions, following the establishment of a similar center in Osaka, Japan, in late 2020. By March 31, 2021, Cryoport supported 543 clinical trials globally, with 28 in the APAC area. Partnerships with companies like Lonza are driving demand for medical therapies, solidifying Cryoport's strategic position in this growing market.

Cryoport, Inc. (NASDAQ: CYRX) announced the acquisition of F-Airgate, a provider of temperature-controlled supply chain solutions based in Brussels, Belgium. This strategic acquisition aims to enhance Cryoport's global network, specifically expanding their operations in the EMEA region. F-Airgate will integrate into Cryoport's CRYOPDP business unit, becoming their 11th European site. The deal is expected to be accretive to earnings in FY 2021 and positions Cryoport to better serve its growing customer base in the life sciences sector.

Cryoport, Inc. (NASDAQ: CYRX) has announced a partnership with LabConnect, Inc. to support Triumvira Immunologics in a Phase I/II clinical trial focused on treating HER2-targeting relapsed solid tumors. The collaboration will leverage Cryoport's Cryoportal^® Logistics Management Platform and LabConnect's SampleGISTICS™ platform for efficient logistics and sample tracking. This integrated solution aims to enhance support for clinical program execution, utilizing advanced technologies for near real-time tracking and analytical support in cell and gene therapy trials.

Cryoport, Inc. (NASDAQ: CYRX) reported record financial results for Q1 2021, achieving $53.3 million in revenue, up 445% from $9.8 million in Q1 2020. The Biopharma/Pharma segment led growth, contributing $42.4 million, a 383% increase. The company supported 543 clinical trials, a rise from 465 in the prior year, and announced the acquisition of Critical Transport Solutions Australia to enhance its presence in the APAC region. Operating costs grew to $25.7 million partly due to recent acquisitions, resulting in a net loss of $3.5 million. The company holds $353.2 million in cash as of March 31, 2021.

Cryoport (NASDAQ: CYRX) will announce its first-quarter financial results for 2021 on May 4, 2021, after U.S. markets close. The company will also release a detailed document titled "Cryoport First Quarter 2021 in Review" at 4:05 PM EDT on the same day, providing insights into its financial and operational performance. A conference call for investors is scheduled for 5:00 PM EDT, during which management will address inquiries about the results. The call will be accessible via the company's Investor Relations website.