Maravai Lifesciences Holdings, Inc. - MRVI STOCK NEWS

Maravai LifeSciences (NASDAQ: MRVI) will announce its third quarter 2021 financial results after market close on November 10, 2021. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET the same day, which can be accessed by dialing (833) 693-0536 or (661) 407-1576 with conference ID 9136747. Participants can also listen via live or archived webcast on the company's Investors website. Maravai provides essential products for drug therapy, diagnostics, and vaccine development.

Maravai LifeSciences (NASDAQ: MRVI) has announced that its subsidiary, TriLink BioTechnologies, received a new European patent (No. 3352584) for its CleanCap technology, which enhances the production of synthetic mRNA. This patent is crucial for developing mRNA vaccines and therapeutics, facilitating a streamlined manufacturing process that reduces time and costs. Mike Houston, Chief Scientific Officer, highlighted the advantages of CleanCap in improving the efficiency and viability of mRNA constructs, particularly in rapid vaccine responses and personalized cancer therapies.

TriLink BioTechnologies announced its collaboration with EyeGene to supply its proprietary CleanCap® technology and modified uridine triphosphate for the production of EyeGene’s EG-COVID mRNA vaccine, which has received approval for clinical trials from South Korea's MFDS. This partnership marks a significant advancement in mRNA vaccine development, aiming to enhance safety and effectiveness. The vaccine will undergo Phase 1/2a trials, utilizing a cationic liposome delivery system.

Maravai LifeSciences Holdings (NASDAQ: MRVI) announced a public offering of 20 million shares at $50.00 each, set to close on September 14, 2021. The shares are being sold by certain stockholders, with a 30-day option for underwriters to purchase an additional 3 million shares. Maravai will not receive any proceeds from this sale. Key financial institutions such as Morgan Stanley, Jefferies, and Goldman Sachs are managing the offering. The registration statement was declared effective on September 9, 2021.

Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) announced a public offering of 20 million Class A shares by selling stockholders, with an option for underwriters to purchase an additional 3 million shares. The company will not receive proceeds from this offering, which is under a registration statement filed with the SEC. Morgan Stanley, Jefferies, and Goldman Sachs are managing the offering. The registration statement is pending effectiveness, and no sales can occur until it is active.

Maravai LifeSciences (NASDAQ: MRVI) will participate in two virtual investor conferences in September 2021. CEO Carl Hull is set to engage in a fireside chat at the Morgan Stanley Healthcare Conference on September 13 at 12:30 p.m. PT, followed by CFO Kevin Herde's presentation at the Baird Global Healthcare Conference on September 14 at 9:50 a.m. PT. Live webcasts will be accessible on the Maravai investor relations website, with archived versions available shortly after each event.

Thompson Street Capital Partners has acquired Vector Laboratories, part of Maravai, enhancing its presence in the life sciences sector. Vector specializes in labeling and visual detection reagents for academic and corporate research. The acquisition aims to leverage TSCP's expertise to foster growth and capitalizes on market opportunities. CEO Lisa V. Sellers highlighted TSCP's role in enhancing Vector’s operations. The deal is expected to propel Vector's strategic and organic growth in a competitive environment.

Maravai LifeSciences reported a remarkable revenue increase of 364.3% year-over-year, totaling $217.8 million for Q2 2021. Net income reached $134.3 million, significantly up from $1.4 million in the prior year. The company raised its full-year revenue guidance to $745 million - $770 million. Key growth drivers included a 532.8% increase in Nucleic Acid Production revenue, alongside the divestiture of its Protein Detection segment for $124 million. Expansion plans for facilities are underway to enhance production capabilities in response to rising demand.

TriLink BioTechnologies has enabled the Chula Vaccine Research Center in Thailand to advance its mRNA Covid-19 vaccine into a First in Human phase 1 clinical trial. This initiative aims to enhance vaccine access in economically developing countries, providing a crucial response to the ongoing pandemic. TriLink will support the manufacturing through its proprietary CleanCap technology, facilitating the production of the vaccine's first clinical batch. This partnership also aims to prepare for future pandemics and new variants.