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MaxCyte, Inc. (NASDAQ: MXCT) is a pioneering commercial cell-engineering company dedicated to advancing cell-based research and next-generation cell therapeutic discovery, development, and commercialization. At the heart of MaxCyte’s offerings is their proprietary Flow Electroporation® platform, which seamlessly facilitates the intricate engineering of a diverse range of cells, making it indispensable for modern cell therapy advancements.
MaxCyte’s core business model revolves around the sale and licensing of their cutting-edge instruments and single-use disposable processing assemblies. The company’s ExPERT™ platform, a next-generation suite of electroporation technology, delivers unparalleled transfection efficiency, scalability, and functionality. This platform is pivotal in supporting the growing cell therapy market, catering to needs from the discovery phase through to full-scale commercialization.
Recent achievements highlight MaxCyte’s significant role in the industry. For instance, Imugene is leveraging MaxCyte’s technology to support its azer-cel CAR T product candidate, potentially a ground-breaking treatment for blood cancer. Meanwhile, Wugen and Be Biopharma also utilize MaxCyte’s platforms to drive forward their innovative cancer therapies and engineered B cell medicines, respectively. These collaborations not only underscore the efficacy and versatility of MaxCyte’s technology but also expand its footprint across various therapeutic areas.
Financially, MaxCyte benefits from a robust revenue model that includes platform licensing fees, annual license fees, and program-related revenue. Their diverse portfolio of partners and extensive clinical and commercial collaborations highlight the trust and reliance placed on MaxCyte's technologies within the biotech industry.
As a company, MaxCyte is unwavering in its commitment to cell engineering excellence. With over two decades of experience, the company has honed its expertise in building best-in-class platforms, perfecting transfection workflows, and pushing the boundaries of current processes to innovate future solutions. Their extensive intellectual property portfolio and comprehensive support services for partners underscore their aim to transform human health through cutting-edge cell engineering.
MaxCyte continues to be at the forefront of cell engineering innovations, partnering with leading biotech firms globally and providing the tools necessary to accelerate the development of life-saving therapies. For more information, visit maxcyte.com and follow MaxCyte on social media platforms like X (formerly Twitter) and LinkedIn.
MaxCyte (MXCT) has entered into a strategic platform license agreement with TG Therapeutics for the use of MaxCyte's Flow Electroporation® technology and ExPERT™ platform. The partnership aims to support the development and commercialization of azer-cel, TG's allogeneic CD19 CAR T cell therapy program for autoimmune diseases.
Under the agreement, TG Therapeutics receives non-exclusive research, clinical and commercial rights, while MaxCyte will receive annual licensing fees and program-related revenue. TG Therapeutics recently acquired worldwide license to azer-cel from Precision BioSciences and has received FDA clearance for an IND application in progressive forms of multiple sclerosis (MS), with Phase 1 trials targeted for 2025.
MaxCyte (NASDAQ: MXCT; LSE: MXCT), a cell-engineering platform technology company, has announced it will release its fourth quarter and full year 2024 financial results after U.S. market close on March 11th, 2025. The company will host a conference call with management to discuss the results at 4:30 p.m. Eastern Time on the same day.
Additionally, MaxCyte management will participate in the 45th Annual TD Cowen Healthcare Conference, delivering a fireside chat on March 3rd at 10:30 a.m. ET. Both events will be accessible via webcast through the company's investor relations website.
MaxCyte (MXCT) has acquired SeQure Dx, a leader in on-target and off-target editing assessment services for cell and gene therapies, for an initial $4.5 million in cash with potential additional contingent payments up to $2.5 million based on revenue targets.
SeQure Dx, headquartered in Waltham, Massachusetts, specializes in assays for editing confirmation and risk assessment across viral and non-viral gene editing modalities. The acquisition aims to strengthen MaxCyte's position in serving cell and gene therapy developers with tools spanning R&D through commercialization.
SeQure Dx generated approximately $1.7 million in revenue and incurred a $6.5 million loss in 2024 (based on unaudited results through November). The company transitioned from an assay development and licensing organization to a contract service provider in March 2024. MaxCyte expects improved financial performance through service revenue activity, cost synergies, and operational efficiencies.
MaxCyte (NASDAQ: MXCT) has released preliminary unaudited financial results for Q4 and full year 2024. The company expects Q4 core revenue between $8.3-8.5 million, up from $7.2 million in Q4 2023. Full-year core revenue is anticipated at $32.2-32.4 million, showing 8-9% growth compared to $29.8 million in 2023.
The company's cash position as of December 31, 2024, is expected to be approximately $190 million, exceeding both initial guidance of $175 million and updated December guidance of $185 million, though down from $211 million at the end of 2023.
In 2024, MaxCyte added six new SPL customers and supported the commercial launch of the first FDA-approved non-viral gene edited cell therapy product. Complete SPL program-related revenue and total revenue figures for Q4 and full year 2024 will be reported in March 2025.
MaxCyte (MXCT) announced that Board Member Art Mandell will retire effective December 31, 2024, after serving since 2006. Following his departure, the board will consist of nine directors. During Mandell's tenure, MaxCyte achieved significant milestones including its IPO on UK AIM and US Nasdaq, launched the ExPERT™ platform, secured 29 Strategic Platform Licenses with cell and gene therapy companies, and supported the industry's first FDA-approved CRISPR edited non-viral cell therapy. Board Chairman Richard Douglas acknowledged Mandell's contributions in positioning MaxCyte as a leader in cell engineering.
MaxCyte announced operational streamlining following an internal review initiated after appointing Maher Masoud as CEO. The company reduced its workforce by 15%, affecting 21 positions globally, aiming to enhance efficiency and align resources with strategic priorities. The restructuring is expected to generate $5.8 million in cost savings in 2025.
The company raised its 2024 core revenue growth guidance to 6-8% compared to 2023. MaxCyte expects to end 2024 with 116 employees, down from 143 at the end of 2023. SPL Program-related revenue is projected at $6 million, excluding revenue from Vertex/CRISPR's CASGEVY™. The company anticipates ending 2024 with approximately $185 million in cash and equivalents.
MaxCyte celebrates its 25th anniversary as a pioneer in non-viral cell engineering technologies. The company's Flow Electroporation® technology played a important role in developing CASGEVY®, the first FDA-approved non-viral cell therapy, in collaboration with Vertex Pharmaceuticals and CRISPR Therapeutics. MaxCyte has established 29 Strategic Platform License agreements across various therapeutic areas.
In 2022, the company relocated to a 67,000 square-foot facility in Maryland's I-270 biotech corridor, expanding its manufacturing capacity and research capabilities. Under CEO Maher Masoud's leadership, MaxCyte continues to advance its proprietary ExPERT™ platform, supporting customers in developing next-generation cell therapeutics.
MaxCyte (NASDAQ: MXCT) reported Q3 2024 financial results with total revenue of $8.2 million, up 2% year-over-year. Core business revenue increased 23% to $8.1 million, driven by 39% growth in cell therapy revenue to $6.5 million. The company signed six new Strategic Platform License (SPL) partners year-to-date, bringing total SPL partners to 29. Cash position remained strong at $196.6 million. Updated 2024 guidance projects core business revenue growth of at least 5% and SPL Program-related revenue of approximately $6 million. The company is considering delisting from AIM to focus on NASDAQ listing.
MaxCyte (Nasdaq: MXCT; LSE: MXCT), a cell-engineering platform technology company, has announced its participation in two upcoming investor conferences. The company will engage in fireside chats at the Stifel 2024 Healthcare Conference on November 18th at 10:55 AM ET and the Stephens Annual Investment Conference on November 19th at 3:00 PM CT. Interested parties can access live and archived webcasts of both events through MaxCyte's investor relations website.
MaxCyte, Inc. (Nasdaq: MXCT; LSE: MXCT) has appointed Cynthia Collins to its Board of Directors as a non-executive director, effective October 14, 2024. Collins will serve on the board's compensation committee, increasing the total Board of Directors to 10 members. With over 40 years of experience in biotechnology and cell and gene medicines, Collins brings valuable expertise to MaxCyte. Her most recent role was as CEO of Editas Medicine, where she was involved in dosing the first patient with an in-vivo gene modified therapy. Collins has also held CEO positions at Human Longevity Inc., GE Healthcare's Cell Therapy and Lab Businesses, and GenVec, Inc. She currently serves on the boards of several healthcare companies and holds a BS in Microbiology from the University of Illinois and an MBA from The University of Chicago Booth School of Business.
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