Welcome to our dedicated page for CryoPort news (Ticker: CYRX), a resource for investors and traders seeking the latest updates and insights on CryoPort stock.
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 This combination significantly reduces the risk of cell degradation, surpassing outdated dry ice shipping methods.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) 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.
Cryoport, Inc. (NASDAQ: CYRX) announced the acquisition of Critical Transport Solutions Australia Pty Ltd (CTSA) for approximately USD 5 million. This strategic acquisition enhances Cryoport's healthcare logistics capabilities in Australia, a key market in the APAC region for clinical trials. The deal aims to increase market share and support regenerative medicine therapies. Cryoport's expansion strategy includes recent establishment of a global logistics center in Osaka, Japan. CTSA will operate under Cryoport's CRYOPDP unit, maintaining its current management team.
Cryoport, Inc. (NASDAQ: CYRX) has appointed Linda Baddour to its Board of Directors, effective March 15, 2021. Baddour brings over twenty years of experience in healthcare and life sciences, having previously served as CFO at PRA Health Sciences. CEO Jerrell Shelton emphasized the importance of governance in enhancing growth through their expanded global footprint. Baddour expressed excitement about joining Cryoport as it capitalizes on opportunities in the growing regenerative therapies market.
Cryoport, Inc. (NASDAQ: CYRX) announced its financial results for Q4 and FY 2020, reporting significant revenue growth across all sectors. Total revenue soared to $48.4 million in Q4 2020, up 423% from the previous year, and reached $78.7 million for the full year, a 132% increase. Key markets include biopharma/pharma with a 378% Q4 growth, and animal health at 2363%. Despite a net loss of $11.5 million in Q4, the company remains optimistic about 2021, supported by acquisitions and a robust pipeline of clinical trials, now totaling 528. Cryoport's ESG initiatives have also been highlighted as part of their strategic vision.
Cryoport, Inc. (NASDAQ: CYRX) announced its financial results for the fourth quarter and fiscal year ended December 31, 2020 will be reported on March 1, 2021, after U.S. markets close. In conjunction with this, a document titled "Cryoport 2020 Year in Review" will be released, highlighting the company's recent performance and operational updates. A conference call is scheduled for 5:00 PM EST the same day to address investor questions regarding the reported results. The call will also be accessible via webcast.
Cryoport, Inc. (Nasdaq: CYRX) announced the conversion of 50,000 shares of 4.0% Series C Convertible Preferred Stock into common stock by funds affiliated with Blackstone (NYSE: BX). This conversion resulted in 1,312,860 new shares of common stock issued on February 5, 2021, part of Blackstone's original $250 million investment. Cryoport's leadership highlighted the strategic acquisitions of CRYOPDP and MVE Biological Solutions as key factors for future growth in temperature-controlled supply chain solutions, anticipating increased demand in cell and gene therapies.
Cryoport, Inc. (Nasdaq: CYRX) recently completed an underwritten public offering of 4,356,059 shares at $66.00 each, generating approximately $287.5 million in gross proceeds. This offering included an additional 568,181 shares from underwriters' full exercise of their option. The net proceeds will support general corporate purposes such as working capital, inventory development, and infrastructure expansion. The offering was executed under an effective shelf registration statement filed with the SEC.
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