Maravai LifeSciences Holdings, Inc. - MRVI STOCK NEWS

Maravai LifeSciences Holdings reported strong financial results for Q1 2022, with record revenues of $244.3 million, a 65% year-over-year increase. The Nucleic Acid Production segment grew 80.5%, driven by a high demand for COVID-19 related CleanCap products. The company achieved a net income of $146.9 million, up 95% from the previous year, alongside an Adjusted EBITDA of $187 million. Maravai has raised its guidance for Adjusted EBITDA and Adjusted EPS for the full year 2022, reflecting optimism in ongoing therapeutic and vaccine developments beyond COVID-19.

Maravai LifeSciences, Inc. (NASDAQ: MRVI) will report its first quarter 2022 financial results on May 5, 2022, post-market. A conference call is scheduled for the same day at 2:00 PM PT. Investors can participate by calling (800) 806-5484 or (416) 340-2217, using the passcode 7725912#. A replay will be available for 72 hours at (800) 408-3053 or (905) 694-9451, along with a webcast on the Maravai website.

Maravai specializes in life science reagents and services, supporting drug therapies, diagnostics, and vaccine development for leading global biopharmaceutical companies.

Bio-Techne Corporation (NASDAQ: TECH) and Cygnus Technologies, part of Maravai LifeSciences (NASDAQ: MRVI), have launched the Simple Plex™ HEK 293 HCP 3G assay for automated impurity testing on the Ella™ platform. This innovative assay enhances viral production workflows by accurately quantifying host cell protein (HCP) impurities in a rapid, 90-minute process. It promises improved consistency and reduced variability compared to traditional methods, leveraging Cygnus's established HCP detection technology. The collaboration aims to support the growing cell and gene therapy market.

Maravai LifeSciences, Inc. (MRVI) announced its participation in key investor conferences in March 2022. CFO Kevin Herde will engage in a fireside chat at the Barclays Global Healthcare Conference on March 15 at 6:30 a.m. PT. Additionally, COO Brian Neel will join a panel discussion on mRNA at the KeyBanc Life Sciences & MedTech Investor Forum on March 23, followed by another fireside chat led by Herde at 12:00 p.m. PT. Webcasts of these events will be accessible on the Maravai Investor Relations website, with archived versions available post-event.

Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) reported impressive financial results for Q4 and FY 2021, with Q4 revenue of $228.4 million, a 132% increase year-over-year, and a net income of $127.1 million, up 778%. For the full year, revenue reached $799.2 million, reflecting a 181% rise compared to 2020. The company raised its 2022 revenue guidance to $920-$960 million, marking a significant growth projection. Key highlights include a successful debt repricing reducing interest expenses by $6.8 million annually and the acquisition of MyChem, enhancing its nucleic acid production capabilities.

Maravai LifeSciences (NASDAQ: MRVI) has acquired MyChem for $240 million in cash, with potential additional payments based on performance. This strategic acquisition enhances Maravai’s offerings in the rapidly growing cell and gene therapy market by integrating MyChem’s ultra-pure nucleotides used in mRNA synthesis. The deal aims to accelerate innovation and growth within Maravai's Nucleic Acid Production segment, with MyChem's team joining Maravai's operations. Both companies expect synergies and cross-selling opportunities, expanding product offerings to the therapeutics and vaccine sectors.

Maravai LifeSciences (NASDAQ: MRVI) will host an Investor R&D Day on January 28, 2022, featuring insights into its business and market opportunities. The event will include presentations from executives and a panel on trends in cell and gene therapies. Interested parties can view the live webcast on the company's website. Additionally, Maravai will announce its Q4 2021 results on February 23, 2022, followed by a conference call at 2:00 p.m. PT. Participants can access the call via dial-in or the company’s website.

Maravai LifeSciences (NASDAQ: MRVI) announced a successful repricing of its existing credit facilities, expected to yield approximately $6.8 million in annual interest savings. This strategic move strengthens the company's financial foundation, driven by strong cash flows and recent ratings upgrades. The repricing will reduce annual cash interest expenses on term loans, while the maturity dates of the loans remain unchanged. The company's focus on providing life science reagents and services underlines its commitment to supporting biopharmaceutical and diagnostic advancements.

Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) has announced its first Investor R&D Day, set for January 28, 2022, from 9:00 a.m. to 11:30 a.m. Pacific Time. This virtual event aims to provide insights into its life science reagents and services, primarily for biotechnology and pharmaceutical innovations. Attendees can pre-register for the event, and a playback will be available afterward. Maravai continues to be a leader in providing products for drug therapies, diagnostics, and novel vaccines.